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First Independent Bank

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First Independent Bank

Mission statement:

To provide safe, sound, full service community banking to Aurora, Missouri, and surrounding trade areas at a competitive price while maintaining a level of profit that provides the owners with a reasonable return on investment and maintain adequate capital for future growth.

To provide supportive working environment for employees and to foster an atmosphere of teamwork while recognizing that employees are our most valuable assets.

To reinvest in the local market areas in order to further the area’s educational, economic and social goals.

History:

Our history begins with the formation of the Bank of Seligman as a corporation that “shall continue for forty nine years” on August 31, 1905.

The papers forming the corporation were recorded at the Recorder of Deeds Office in Barry County, Missouri on September 1, 1905. On September 11, 1905 the State of Missouri issued a Certificate of Incorporation under the name of Bank of Seligman that granted the authority to “become a body corporate duly organized under the name of Bank of Seligman and is entitled to all rights and privileges granted to Banks of Deposit and Discount under the laws of this State for a term of forty nine years; and that the amount of the capital stock of said corporation is Ten Thousand Dollars.” The bank began operations on January 1, 1906.

On January 24, 1919 the Bank of Seligman purchased the Farmers & Merchants Bank of Seligman.

The bank continued operating during the major events of World War I, The Great Depression, World War II, the Korean War and nine different U.S. Presidents all before the original charter was set to expire in September of 1954.

April 29, 1954 a petition from the stockholders proposed the extension of the corporate existence of the Bank of Seligman until “it shall be dissolved by the consent of the stockholders or by proceedings instituted by the state under any statue now in force or hereafter enacted.” Three months later on July 17, 1954 the stockholders met and approved the proposition of continuing the bank charter by a vote of 100 in favor of and none against. July 22, 1954 the State of Missouri Department of Business and Administration Division of Finance issued a certificate granting that authority.

September 1, 1993 the Bank of Seligman’s corporate name was changed to First Independent Bank and branch locations were located in Washburn, Missouri and Aurora, Missouri.

On September 1, 2002 the main office of First Independent Bank was moved to its current location at 1100 S Elliott, Aurora, Missouri.

In April of 2003, both the branch at Seligman and Washburn were sold. First Independent Bank’s main office in Aurora became its only location servicing Aurora and the surrounding trade area.

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