Our Mission, Our History and Our Directors

Our Mission Our History  Our Directors
Putnam Bancshares, Inc.    
The Mission Statement of Putnam County Bank

Our mission is to make Putnam County Bank the best bank serving Putnam County !

Three things are critical to mission accomplishment. (1) Strong leadership; (2) each director and employee has to be an advocate of the Bank; and (3) everything we do, everyday, must be directed at making our customers advocates of the Bank. Profitability will be important but will be secondary to the mission.  Once we accomplish our mission, we feel profitability and the value of our banking franchise will improve likewise and we will be positioned to expand our scope in new financial directions.

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A Brief History of Putnam County Bank   

Putnam County Bank was chartered on October 25, 1901.  Its first Directors were:

A. L. Corbly

W. D. Hodges

T. M. Shank

J. C. Henderson

W. H. McCallister

R. V. Dorsey

W. P. McAboy

J. T. Garrett

Edgar Carver

The Bank's first President was W. H. McCallister.

The Main Bank facility was originally established on Putnam Avenue, across the railroad tracks from today's existing Main Bank.  The move from the Putnam Avenue to the existing Main Bank at 2761 Main Street took place in 1922.  Major renovations of this facility took place in 1959 and 1975.

In 1985, Putnam Bancshares, Inc. was formed as a one-bank holding company.  Its only subsidiary was Putnam County Bank.  Shareholders of Putnam County Bank exchanged their shares for equivalent value in Putnam Bancshares, Inc.

The mid-1980's also saw the Bank's entrance into automated teller machines and connecting branches by computers.  In 1985, the Interstate Office was opened as a full service branch at 300 Hurricane Creek Road near the Hurricane exit of Interstate 64 with a 24-hour automated teller machine.  In 1992, the Valley Office opened as a full service branch at 3058 Mount Vernon Road near the Winfield exit of Interstate 64.  As the Bank entered the 1990's, greater emphasis on computerization and speed was placed. 

In 2003, Putnam County Bank opened its new Loan Center at 2759 Main Street in Hurricane, which was the former Clark's Five and Dime Store.  The facility includes offices for loan officers as well as a spacious area for loan operations.  This facility improves the ability of loan officers to speak more privately with customers about financial transactions.

Putnam County Bank's success has paralleled the growth of Putnam County and continues to provide banking services at a reasonable cost.  The Bank is proud of its role in the development of Putnam County and its investments in community activities.  The Bank has been publicly recognized by the Putnam County Commission, the Putnam County Development Authority, the Putnam County Chamber of Commerce and the Putnam County Board of Education for its work in the community.

In 2012, Putnam County Bank employed 75 full and part-time employees and had total assets of over $600 million.

Putnam County Bank was ranked in the top ten in the State of West Virginia in terms of deposits in West Virginia published in the 2012 Book of Lists published by The State Journal.

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Our Directors    

The Board of Directors is composed of individuals who provide their expertise and vision to ensure the safe and sound operation of the Bank.  These individuals give up many hours to direct and promote the Bank to those with which they come into contact on a daily basis.  Directors also bring back to the Bank comments and suggestions from those in the community for the improvement of the Bank.  Each Director is elected to a one year term at the annual Shareholders' Meeting (conducted the second Thursday of June) and must qualify under laws and rules under the auspices of the West Virginia Division of Banking and the Federal Reserve System.

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Putnam Bancshares, Inc.    

Putnam Bancshares, Inc. was formed in 1985 as a holding company under federal and state banking law.  Putnam Bancshares, Inc. is a closely-held company and its stock is not listed on an active exchange.

Putnam Bancshares, Inc. owns 100% of Putnam County Bank and owns no other subsidiaries.

Putnam Bancshares, Inc. also owns a controlling interest in Putnam County Title Insurance Agency, LLC.  The Agency provides for the sale of title insurance for real estate transactions.  For more information, please access the Agency on the web by going to www.putnamcountytia.com.

The Board of Directors of Putnam County Bank are also Directors in Putnam Bancshares, Inc.

For more information about Putnam Bancshares, Inc including the latest Annual Report or stock price, please contact:

Putnam Bancshares, Inc.
Investor Relations
P. O. Box 308
Hurricane, West Virginia  25526

Phone:  (304) 562-9931

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