Author: SouthStar Bank

A look back on the Banking Industry 50 years ago. The Bank celebrated its Golden 50th Anniversary in October of 1970. Since the 25th anniversary, the Bank had made renovations to the building and W.H. Pundt took over as Bank President. Hallmark moments in 1970 banking included: September 2, 1970 marked the one-year anniversary of the first atm opening. Congress chartered the Federal Loan Mortgage Association (Freddie Mac) to provide capital to finance U.S. Housing. Automated Clearing House InterBank Payment System, a private company, was created to clear checks. The Bank Holding Company Amendments (BHCA) of 1970 were passed, requiring the Federal Reserve Board’s approval for the establishment of a bank holding company. Today, SouthStar Bank continues to evolve and expand with the renovation of our Moulton Headquarters. We will celebrate our 100th Anniversary where it all began on October 21, 5:00-7:00PM. 100 S. Main St. Moulton, TX

Thank you to everyone who donated to our book drive! Over the past 100 years SouthStar Bank has built a tradition of community service, supporting past generations and the generations to come. In honor of its 100th anniversary, SouthStar Bank continued this tradition by hosting a bank-wide book drive. Each branch partnered with local elementary schools to collect new books for their libraries. With the goal of donating 100 books in honor of its 100 years, SouthStar Bank kicked off the drive by donating 500 books. Many of the books, such as “Bunny Money” and “The Lemonade War,” provided a fun way to introduce financial education to elementary students. The book drive was met with overwhelming support from the community. Total donations exceeded 8,200 books. “What better way to celebrate than getting the community involved! We are fortunate to be a part of such a generous network who shares in our commitment to local youth.” said SouthStar Bank President David Kapavik. “Kids are our future, and it’s our goal to support their education and growth.” With this goal in mind, SouthStar Bank is continuing the celebration by offering $100 scholarship bonuses to each new youth savings account opened through September 30.

A look back on the Banking Industry 75 years ago. In 1945, The Farmers and Merchants Bank of Moulton (now SouthStar Bank) celebrated its 25th anniversary. During this time, the Bank moved into the old First State Bank of Moulton building. Elo C. Fehrenkamp also took over as Bank President during this year. By 1945, the Banking Industry had been largely affected by World War II: Large-scale war financing by the federal government led to the rise of Banking assets. The largest single operation performed by the Federal Reserve Banks was handling war savings bonds. U.S. government securities account for 57% of total banking assets. Today, SouthStar Bank continues to serve the people that make our communities shine. We invite you to join in our 100 year celebration in Moulton on October 21, 3:30-6:30PM.

A look back on the Banking Industry 100 years ago. This year SouthStar Bank is celebrating its 100th anniversary. The Bank opened its doors as The Farmers and Merchants Bank of Moulton in October of 1920. The Bank was located at the present site of Moulton City Hall, and F.T. Fehrenkamp served as President along with Rudy Jaeggli as Vice President. Banking looked a bit different back in 1920: Banks offered installment loans, mortgages, and loans to stock market speculators on 90 percent margins. Printing tabulators were introduced, which not only improved speed and accuracy of balancing vault balances, but set the stage for future technology. There were no insider-trading laws 100 years later, the SouthStar Bank headquarters remains in Moulton, TX. Mark your calendar and join us to celebrate this historical milestone on October 21! 100 S. Main St. Moulton, TX | 5-7pm