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Brief History of the Clay County State Bank

Clay County State Bank was organized September 13, 1905 as a direct result of a group of local individuals, who met to discuss the possibility of creating a new bank, whose primary purpose would be to serve the community and the surrounding area by providing banking services.  Those members were W.H. Dillman, C.S. Erwin, J.H. Moore, J.C. Bible and J.L. McKnight.

The members of the first Board of Directors were Lewis Dillman, A.H. Moore, J. H. Smith, C.S. Erwin, P.N. Smith, B.F. Scaife, W.D. Dillman, W.A. Harmon, and Thomas Abel.

The first President of the bank was Lewis Dillman.  More recent bank Presidents have been James W. Cogswell, I.E. (Ebert) Ikemire, James W. Dawkins, James E. Pottorff, and Daniel N. Schoonover.  The current bank President is Jon R. (Randy) Wells.

The bank was originally funded with $25,000 derived from the initial sale of bank stock.  The original stockholders were professional men, business men and farmers.  The bank has experienced significant growth during its tenure.

The bank continues to operate under the direction of the current board, Marilyn D. Brant, Danny E. Fender, Michael A. Frost, Daniel N. Schoonover, Jon R. Wells, and Chairman John W. Zink.

The bank operates as a privately owned corporation with a number of shareholders from the surrounding area.

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