The weekly times-record. (Valley City, N.D.) 1912-1922, 1915-08-05
Growth and Prosperity Co.
incident Wit h Financial
Prosperity Of County,
Gov. Sarles First President.

Ten years ago today this bank op-
ened for business. Our belief then
entertained and the prophecy then
made have been fulfilled We said
tibet we believed that there was room
for a bank in Valley City like this,
which without damaging any prev
iously existing bank, would attract to
itself a solid and substantial cllentage.
We decided to organize under the laws
of our own state of North Dakota and
thus be under the regulation and con-
troll of the state banking board at Bis
marck
Our first board of directors were b..
Y. sarles, president Ut the First Ma
tional bank of Hillsboro, N. d., r. H.
Bronson, president of the First Ma
tional Bank of saltwater, Mimi, Henry
Wolfer, director in the same institu-
ton, William Coop, Walter Coop, Toll
lief Olsen, l.. S. Platou, N. p. Rasmus-
son and Jas. J. Farley. Governor
Sarles was selected as our first presi-
dent The management was entrusted
to Jas. j. Farley and Walter Coop,
who are still in charge. Three of the
above named have since died, viz, r.
H. Bronson, William Coop and N. P.
Rasmussen; three of the most useful
men who ever served in the capacity
of director. Much credit is due and
acknowledgment is hereby made for
the wise counsel and intelligent guild
ance given by these three directors
during the earlier years when the
bank was establishing it's policy and
building it's foundation.
Our growth and prosperity have
been coincident and co-equal with the
growth in the financial resources Of
the county. Ten years ago there were
in all II banks in Barnes county with
aggregate deposits slightly in excess
of $1,OOO,0OO; now there are "a bank
ing institutions with total deposits in
excess of $3,500,000. We began with
$4,000 capital paid in by the original
shareholders. We have paid generous
dividends and still have more than
$4,000 of earnings carried in the
bank as surplus and profits belonging
to the present shareholders, held for
the use and benefit of it's borrowers as
added security for it's depositors. We
have more than 800 customers and to-
tai resources averaging in excess OF
100000.
Thus far we have been able to con-
duct the business of the bank, hand
ling volume in the ten years of our
existence aggregating several million
dollars, without even once resorting to
litigation. We have never yet fore
closed a mortgage nor even sued a
customer. This record indicates, and
we like to feel that it proves, that our
business has developed by and with
the good will of our patrons; and the
pleasure we feel over this growth
would turn to disappointment If We
could not feel on this, our tenth ami
versary, that we have grown also II
the confidence of our patrons and the
public.
We have been actuated by no false
ambition to be the biggest bank i
growth involved any sacrifice of safe
1y. We have been guided solely by al
ever-present desire to be of the yer!
best service possible to our custo
mers; with a conviction that our owl
best interests and those of each AM
every customer, large and small, ar
not only mutual but IDENTICAL; pur
pose to give at all times the very bes
and closest attention possible to tn
individual needs of our customers
and their confidence in us and goo'
will toward the bank are importan
parts of our reward, no less cherished
than our very satisfactory profits
Their friendship and loyalty are high
ly appreciated and gratefully acknowl
edged.
Respectfully submitted, on behalf o
the directors, by .. ... -: 80,
JAS. J. FARLEY,
President