|First National Bank of Jasper|
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Online Banking/Corporate Accounts
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Founded On Service
The First National Bank of Jasper was organized on June 1, 1905. It has served the people of Jasper and Walker County, Alabama, continuously since its incorporation. In the early years, a gentleman who was more of a merchant/businessman than a banker operated the bank. During his tenure with the bank, poor lending decisions were made and the bank found itself with a large number of substandard and non-performing loans. This led to some very shaky times, but new management was brought in during the early 20's and the bank began to clean up and gradually charge off its substandard assets. When the Great Depression arrived in the late 20's and 30's, the bank was beginning to show good progress and it was the only one of three banks in the city that did not fail. It did survive a run on the bank. With the influence of the local United States Senator, John H. Bankhead, the run was stopped. Senator Bankhead got up on a chair in the lobby and addressed the crowd waiting to withdraw their money. His reputation and calm explanation of how banks operated satisfied the crowd and many of the people began to redeposit their funds. First National Bank has always been the dominant financial institution in our county that has a population of some 70,000. In 2000 the City of Jasper had a population of 14,000. The assets of First National Bank of Jasper at December 31, 2002, were approximately $535 million. The bank operates four offices in the City of Jasper and four branches in the county and towns of Carbon Hill, Cordova, Curry, and Dora.
In 1985, the bank formed a one-bank holding company and shortly thereafter organized a de novo bank in Birmingham, Alabama, by selling $11.5 million in stock in the First National Bank of Jasper Corporation (the then one-bank holding company). The name of the holding company was changed to First Commercial Bancshares and in 1988 and 1989 de novo banks were opened in Tuscaloosa and Montgomery, Alabama, and in 1990, a de novo bank only a few years old was acquired in Huntsville, Alabama. In 1992, the five banks of First Commercial Bancshares had assets approaching $1 billion. At this time, the company merged into Synovus Financial Corp. headquartered in Columbus, Georgia. First National Bank is now one of 39 banks in Synovus Financial Corp., but retains its original charter and has its own board of directors made up of local business people. Although it is a member of what is a $19 billion company, for all intent and purposes as far as the public is concerned, it is still operated as a local community bank. In spite of local competition, the bank maintains an approximate 46% market share of commercial bank deposits in the county.
Today, First National Bank of Jasper operates with the same philosophy as it did decades ago. We believe in treating people right and providing "Service Beyond Banking."
First for a reason!
First National Bank
|Title:||First National Bank of Jasper|
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