The Farmville herald and farmer-leader. (Farmville, Va.) 1934-1957, 1956-01-13
3 Farmyille Banks Assets
Top $l3 Million For New High.
Deposits Soar Past IL Months
Scott, Lafoon
Glenn Added
AS Directors

Stockholders of F'armville's three
banks received encouraging an
nual reports Tuesday rejecting
very successful" operations the
past year.
Put together, the year-end
statements provided stockholders
show assets of the three insti.u-
lions at the all-time high of S13.-
881 .25l-an increase of 1922 $3.50
over the repor. of a year ago.
Seasonal Withdrawals prevented
an even higher record Of assets
since all three banks had higher
totals incorporated into quarterly
reports earlier
Deposits Jump
A Jump of about 100000 in
deposits at December 81 over a
year ago was also reported. The
three banks showed total deposits
of $12,831,l7l as against $1l,92l.-
628 twelve months ago
The very satisfactory year"
reported at each bank. earlier had
resulted in dividends on bank
stock: SIS a share at First Ma
tional Bank and aggregating IL
per cent at Peoples National
Bank and Planters Bank and
Trust Co.
First National Bank
r. K. Brock presided during the
stockholders meeting at First
National Bank, where A. O. La
foon was elected to the board of
directors in the place of DR.. Dab
ney S. Lancaster
E. Waller Sanford was elevated
to executive vice president from
cashier and S. Bruce Spencer pro-
NOTED to cashier. John H. Warner
was promoted to assistant cashier
and Mrs. Lurline A. Wootton re-
named assistant cashier.
Stockholders adopted a resolu
ton expressing regret at the loss
of DR.. Lancaster's service by re-
tirement as college president, and
expressing esteem for his cap
able. timely and thorough" finan-
cial leadership and guidance.
Peoples National Bank
T. w Bloomfield presided as the /
stockholders of Peoples National
Bank met. A change in officers
here elevated I. c. Glenn to the
post of executive vice president
and J. NJ Watkins to cashier. with
the remaining officers renamed
j. L. Bugg, president; F. G. Bald
win, vice president; w. S. Weaver,
vice president, and S. P. Glover,
assistant cashier.
I. c. Glenn also was added to
the board of directors, replacing
w. H. Glenn. who was named an
honorary director. post also held
by r. II. Paulett. Mr.. Glenn ended
active leadership because of its
taxing physical requirements.
A resolution was adopted in APP
probation of his active. wise and
valuable service" and his zeal and
devotion" to the bank for many
years. His appointment as honor
airy director stems from the corp
oration's desire to avail itself OF
his counsel in the future, as
possible for him.
Peoples Bank stockholders noted
with pleasure the addition Of Eric
Robinson to the bank staff during
the year. Robinson is graduate
of Cumberland High School and
of Longwood College in 1854. The
son of J. K. Robinson, he was an
outstanding vocational agricul-
ture student and was president of
the Virginia Future Farmers Of
America in 1949-5O
Planters Bank
PIT. Atkinson presided as stock
holders met Tuesday at Planters
Bank and Trust Company. Here
A. w. Scott. pulpwood dealer for
Continental Can Co.. Inc wa S
elected a director, increasing the
board to thirteen.
All present officers we're re-
elected, with the IL directors who
served the past year.
The new director, lifelong
resident here is one of Virginia's
top pulpwood dealers and is active
in forestery management and
planting operations here. He has
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