Historical Newspapers of South Carolina

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The Directors of The State Building and Loan Association have voted unanimously to merge with Standard Savings, one of the state’s oldest associations. A special meeting of shareholders will be held on December 1, for the purpose of approving the merger. Final approval must be given by the Federal Home Loan Bank Board. What does this mean to the people of Newberry? The consolidation of these two associations will result in the strongest association in South Carolina. Total assets will be over 82 million dollars. Throughout their separate histories of service, both of these associations have shown outstanding growth. Both have exceptionally high liquidity positions and large reserves. This affiliation will expand the loan services of both associations, making it possible for the Newberry operation to meet the ever growing needs of this section with a well rounded program of financial assistance. The present staff of The State Building and Loan Association will continue to serve the residents of Newberry on the same personal basis, with the additional capabilities that a larger association offers. Upon merger, the Newberry operation will continue under the direction of its present Board. Under their guidance, policies will be formed in the best interest of Newberry. This proposal links a total of 79 years of experience in providing for the home and thrift requirements of South Carolinians. By joining strength % and experience, State and Standard will form together a forward minded association, well equipped to encourage progressive development in South Carolina. Ralph B. Baker President Thomas H. Pope Director R. Aubrey Harley Director Pinckney N. Abrams Executive Vice President The Newberry Sun, Newberry, S. C., Thursday, Nov. 9, 1967—PAGE 5