About Bedford Federal Savings Bank
Bedford Federal Savings Bank was originally organized, September 20, 1926, as a state chartered loan and savings association, known as Bedford Rural Loan and Savings Association, in the insurance office of Frank D. Hatfield, which was in the Masonic Temple, with capital stock of $50,000 and common stock of $450,000. The incorporators and first directors were:
Frank D. Hatfield, insurance agent and owner of Hatfield Motor Sales,
John A. Rowe, limestone mill owner, city councilman, and a director of Bedford National Bank,
E. B. Crowe, five-term U.S. Congressman, businessman, director and later President of Stone City Bank,
H. D. Martin, President of Stone City Bank, John M. Wells, co-owner of the Leader Store and director of Citizens National Bank, and
J. Herschel Moore, lumber merchant
The bankers were involved because they wanted a local institution to make mortgage loans and their commercial banks.….. Continue reading about Bedford Federal Savings Bank here.
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