Jasper County Democrat, Volume 22, Number 48, Rensselaer, Jasper County, 13 September 1919 — STATE BANK CAPITAL ‘GOES UP’ [ARTICLE]

STATE BANK CAPITAL ‘GOES UP’

From <30,000 to >78,000, Making Invested Capital Over fIOd.OOO. At a meeting of the directors of the State Bank of Rensselaer Tuesday evdhlng, it was decided to increase the capital stock of the bank.-from <30,000 to - <75,000, thereby placing it alongside the capitalization of the other banks of this city. This' bank had a surplus and undivided . profits of over <40,000, a part of which was converted into stock, but with the new capital added and the remaining surplus an<\undivided profits the bank will have an Invested capital of over <IOO,OOO. The State bank succeeded the old A. McCoy & Co. .bank, which went to the wall several years ago, and it has had a good, steady, conservative growth ever since it was established. Its stock has been held by a smaller number of people than that of any of the other banks in Rensselaer, but It is understood that much of the new stock will be placed among the bank’s customers, which will be an advantageous business proposition.