The Answer: First State Bank of Montgomery
Located at 211 Liberty was one of the first state banks in Texas. It was chartered in 1906 and prospered alongside the town of Montgomery. Just two years later, in 1908, the bank moved into a brick building. The bank provided people of the town with banking and insurance services Most of the banks original journals are preserved in the vault.
The bank's manager made an income of $125 a month.
The bank was doing well in 1917 with assets totaling $191,000. Montgomery was a wealthy town at this time. When the financial crash of the Great Depression happened, the banks assets dropped tremendously to a low of $18,233.50. When people become desperate during hard times, they tend to do things that they might not normally do. Unfortunately robberies began to happen and hurt the bank even more.
It was voluntarily liquidated in 1934.
It is currently owned and under the care of Geral and Susan Fauss.
Surprisingly, the bank has been turned into Retreat Hill Cellars Winery and has also been run as the Bank boutique and coffee bar.
The pictures below are of the original bank before they moved the bank to a brick building. It is located behind Cedar Brake Park.
The bank's manager made an income of $125 a month.
The bank was doing well in 1917 with assets totaling $191,000. Montgomery was a wealthy town at this time. When the financial crash of the Great Depression happened, the banks assets dropped tremendously to a low of $18,233.50. When people become desperate during hard times, they tend to do things that they might not normally do. Unfortunately robberies began to happen and hurt the bank even more.
It was voluntarily liquidated in 1934.
It is currently owned and under the care of Geral and Susan Fauss.
Surprisingly, the bank has been turned into Retreat Hill Cellars Winery and has also been run as the Bank boutique and coffee bar.
The pictures below are of the original bank before they moved the bank to a brick building. It is located behind Cedar Brake Park.