About PriorityOne Bank
On October 31, 1905 (Halloween) in Seminary, MS a group of 20 local businessmen and citizens formed and originated the independent Bank of Seminary to serve its community. The bank planned to start or capitalize with $25,000 but when the stock subscriptions came in the community wanted to buy $26,800. A committee of three was appointed to go out and talk several people out of buying stock so they could get the total back down to $25,000. At the next organizational meeting 15 of the original 20 organizers were elected to the first Board of Directors. J. M. Graham was elected Chairman, F. W. Foote was elected as President, J. J. Bethea was elected as Vice President and J. N. Wright was elected as Cashier and his salary was set at $1,000 per year (the only paid employee in the bank).
Mr. Francis William (F. W.) Foote, the bank’s first President was also serving as President of First National Bank of Hattiesburg at that time and he had just completed a term as Chairman of the Mississippi Bankers Association. He would go on to become a member of the first Board of Directors of the Atlanta Federal Reserve serving from 1914 – 1935. His son Lawrence Y. Foote, Sr. would in later years also serve as President of First National Bank of Hattiesburg and as Chairman of First Mississippi National Bank. His son Lawrence Y. (Larry) Foote, Jr. would also serve as an executive officer of First Mississippi National Bank… Continue reading about PriorityOne Bank here
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