On The Edges--Republic

by Dianne Rarick

A community bank with 120 original investors opened in Republic July 1. "We have a restrictive stock agreement that limits the investment to no more than 10 percent per person to keep it a community bank," according to President Robert Nelson. "Our investors are almost exclusively from Republic/Billings/Clever area," he said.

The group was put together by Dale Meadors, chairman of the board. The bank is currently housed in a modular building located near the intersection of State Highway 60 and Main Street (203 W. Hwy. 60) while a 4,900-square-foot building is being completed at 200 Broad Street.

Town and Country Bank expects to open its permanent facility around Dec. 1. From initial investments of $3.15 million, the bank now has assets of more than $8.9 million. Deposits so far are just under $6 million, according to Nelson.

The new facility will offer full-service banking, including loans. There will be three drive-up windows (with one lane accessible to wide trucks and trailers), safety deposit boxes, and an ATM. The bank currently has eight employees, but will hire two more when the new building opens.

"We're concentrating on personal service and taking time to actually talk to every customer," Nelson said. "Our market is to concentrate on the communities of Republic, Billings and Clever rather than Springfield. But we're not turning anyone away."

Nelson said it's pure coincidence

that both new banks in Republic have the word "country" as part of their names.