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State Bank Becomes 'National Bank'

State Bank Becomes 'National Bank' image
Parent Issue
Day
10
Month
February
Year
1961
Copyright
Copyright Protected
Rights Held By
Donated by the Ann Arbor News. © The Ann Arbor News.
OCR Text

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