State Bank Becomes 'National Bank'
iS tate Bank
l ,__,,,__. ...,.,.,,1,,,____; ~` -
,Becomes i---
C 0
1 Natzonal Banki)
n ust Co.
today officially became Nation-
al Bank and Trust Co. of' nn'
r or. f e cert ae“author-
izing the conversion was issued
yesterday, effective upon the
opening of the bank for business
‘tocgg ~ A,
i l e~ 'ned-
that, the tg1%in%ng{ wnwnaike
place gradually- with little, if
‘any inconvenience to depositors
and clients. - ,
The banking law provides that'
all assets, liabilities, and con-
tracts are assumed 'by the Na-
tional Bank and Trust Co. of
Ann Arbor just as though it_ had
always been ini existence.
Until present supplies in the
hands of depositors can be .re-
placed inthe, ordinary course of
business, 'all checks, deposit
slips, notes, pass books, -etc.,
will be honored whether they
are drawn onthe State Bank
and Trust Co. or the National
,Bank and'Trust Co. ‘ ,_
The exchange of new stock
certificates for old, including
the recently dec1ared‘20 per c nt
,stock-» dividend,
within the next two or three
weeks. '
The bankfs president, Edward
Adams, jr., explained the
board’s decision to nationalize:
“Ann Arborhas grown into such
an important trade and finan-
cial center that the public
should have available to it the
choice of _dual banking facilities
--State and National.” 1