CHAFFEE'S FIRST NATIONAL BANK WILL BUILD NEW BANKING FACILITY

CHAFFEE -- Plans for a new bank building here have been announced by First National Bank.

"A new building has become a necessity in order to continue to provide the services our customers have come to expect throughout all our facilities," said Troy Wilson, president and chief executive officer of First National Bank.

Construction of the building, which will include drive-up windows, will start soon at the intersection of Main and Yoakum, site of the existing bank building.

"A definite starting date will depend on the weather," said Wilson.

"The new drive-up facilities will allow us to provide more convenient service to our customers," said Debbie Simmons, branch manager. "A modernized lobby will also provide for more efficient service to customers."

Simmons said the bank would continue to operate during the construction period from a former community room the bank owns on Main Street.

Simmons said the present bank facility was constructed in 1905.

"In 1908, the Chaffee Building and Loan was organized and operated from the building," she said. In 1957, the building was damaged in a tornado, Simmons said. "The second floor of the building was destroyed," she said.

"In 1974, the building and loan was acquired by Colonial Federal Savings and Loan, which operated it until 1990, when First National Bank purchased the facility and operations from the Resolution Trust Corporation.

"This location has served the financial needs of the community for 83 years," said Wilson. "Now, and in the future, we will continue to meet those needs."

First National Bank recently opened a facility in Cape Girardeau at 2027 Broadway, in the former Colonial Federal Savings and Loan building. The bank has other banking facilities in Caruthersville and Sikeston, and is involved in construction of a new facility at Sikeston.

First National is the largest bank in Scott County, with assets in excess of $145 million.

The bank has received the Verbank Blue Ribbon Rating for eight consecutive quarters. The award is presented to banks that exhibit sound and continuous financial strength.

"We appreciate the support our customers and the citizens of Chaffee have shown for the bank," said Wilson. "It is our goal to provide service and facilities to our customers."