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Medina Banking Co.

Overview:

Medina Banking Company began as a locally owned community bank to serve the financial needs of Medina Tennessee and the surrounding communities. In 2005 the bank celebrated its 100th anniversary.

   The charter for Medina Banking Company was signed on January 28, 1905. The founders were J.T. Walker, W.O. Graves,W.T. Birdsong, E.A. Rowlett, and J.T. Graves. Opening its   doors for the first time to the public on April 17,1905 the bank began with only $25,000 in starting capital. The annual statement for the year ending December 31, 1905 showed assets of about $28,000, deposits of about $22,500 and an undivided profit of $13.86.

   During the mid 1960's Freddie V. Barr and Charles C. King were hired by the bank and began working their way up through the ranks. Starting out in check-filing the two moved to proof operations, posting, teller row, and then on to the loan department. In the early 1970's both Mr. Barr and Mr. King were elected to the bank's Board of Directors. Over the next fifteen years they acquired more than 50% of the bank's stock.

   In 1986 a one-bank holding company, Medina Bancshares Incorporated, was formed. After the untimely death of Mr. Barr on April 30 of that year Mr. King continued the function of the holding company and purchased the available remaining shares of the bank's stock. The final share outstanding was purchased on January 1, 2001 to give the holding company 100% ownership of Medina Banking Company.

   Today Medina Banking Company has grown to hold assets of approximately $30 million with a strong capital base. The bank is still a community bank focusing on the areas that surround Medina Tennessee. MBC primarily serves customers in portions of Gibson, Madison, Carroll, and Crockett counties. The Mission is to provide excellent financial services to customers while continuing to be a healthy and profitable independent community bank. Medina Banking Company takes great pride in its past and present reputation as being a morally fit, reputable, and high quality lending institution.

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