Mount Ayr Record-News
Mount Ayr, Ringgold County, Iowa
Thursday, July 12, 1916

A savings department for the Mount Ayr State Bank has proven to be popular in the first ten days of its trial. During the first ten days of July, the new department opened 53 accounts,the total ofwhich is $320.15, or an averge of $6.04. A greater number was for one dollar, but one boy produced $100 he had earned by his labors and had considered it too small for banking purposes until he learned of the new department. Most of the ' depositors are children whose parents encourage them to save money rather than spend it. Rates paid are five per cent on yearly deposits and four per cent on six month's deposits.

Mount Ayr Record-News
Mount Ayr, Ringgold County, Iowa
Thursday, August 02, 1916

The savings department of the Mount Ayr State Bank, established July 1, continues to show a healthy growth and is no longer considered in the experimental stage. At the close of the first month's business, the total deposits in this department amounted to $1,039, there being 75 depositors, making the average for each depositor $13.85. The largest amount to the credit of a single depositor is $239.00.

Transcriptions by Sharon R. Becker, October of 2016

Mount Ayr Record-News
Mount Ayr, Ringgold County, Iowa
March 1, 1990

Left to Right: Clair ALLYN, Bernice SHEIL, Zella SWARTZ,
Frank E. SHELDON - bank president

 

Left to Right: Frank E. SHELDON - bank president, Zella SWARTZ,
Bernice SHEIL, Clair ALLYN

It is believed that the Mount Ayr Bank was located where Hawkeye Bank &Trust was in 1990.

Transcription by Sharon R. Becker, May of 2010