|
In early 1951 a group of local businessmen and interested citizens of Maroa met and discussed the possibility of forming a bank. The community had been without a bank since 1932.
On July 13, 1951 Maroa received a new banking charter as the Bank of Maroa. The organizers purchased the former bank building located at 101 E. Main Street that was built in 1916 by Crocker and Company. In 1972, the Board of Directors determined it was wise to purchase the two buildings adjacent to the bank building that had been on the market for some period of time. These two buildings were purchased and one of them was torn down and replaced with a new drive-up facility which was placed in service in July, 1974. The other building is now known as the Maroa Mini Mall which contains several office spaces that are leased at very affordable rates.
George H. Waller served as the bank's first chairman and president and remained chairman and president until January, 1977. Mr. Waller continued as president and Robert Stoutenborough served as chairman until Mr. Waller's death in 1981. Upon Mr. Waller's death, Mr. Stoutenborough served as both chairman and president until the annual stockholders meeting in April, 1982. On April 26, 1982 Robert Leinhart was elected as the chairman of the board of directors, and Lawrence E. Thicksten was elected as the first active president and chief executive officer of the bank. Mr. Lienhart passed away in 2003 and Mr. Thicksten was elected to replace him as chairman in 2004. Mr. Larry Otis currently serves as president of the bank and has held this position for several years.
In 1982, the directors of the Bank of Maroa determined that it was appropriate to apply for a bank holding company charter and in December, 1983 Maroa Bancshares, Inc. was established and chartered as the parent company of Bank of Maroa. Bank of Maroa was the only subsidiary of the holding company.
In early 1994, Sam Scott, president of Scott Bancshares, Inc., contacted Mr. Thicksten about the possibility of purchasing the Bank of Maroa. After several negotiating sessions between the two parties which included the officers and directors of Maroa, an agreement was reached in late 1994 for Maroa Bancshares, Inc. to sell 100% of their shares to Scott Bancshares, Inc. The acquisition was consummated on June 30, 1995. Effective October 1, 2000 the name of the bank was changed to Maroa Forsyth Community Bank.
|
