Magazine article American Banker

A Small-Town Institution Finds That the Post Office Still Delivers

Magazine article American Banker

A Small-Town Institution Finds That the Post Office Still Delivers

Article excerpt

Who says the U.S. Postal Service isn't efficient? In Wakefield, Kan., pop. 1,000, someone recently mailed a letter with no return address -- just a stamp and the word "deposit."

Where did it end up? Farmers and Merchants Bank, fo course, the only bank in town.

"That's small-town America," said Phil Barber, vice president of the $11 million-as-set bank, which happens to share an office complex with the local post office. "It's happened before," he added.

And while Mr. Barber wouldn't be surprised to hear of similar occurrences in other small communities, "It'd probably be pretty hard for Chase Manhattan to even relate to what we're talking about."

Firstrust Bank in Philadelphia came to the conclusion once again that a Green is the best person to handle its green.

The $1.3 billion-asset institution has appointed executive vice president Richard J. Green, 42, as its new president and chief executive.

He takes over from his father, 72-year-old Daniel B. Green. At the same time, brother and executive vice president Arlin S. Green, 39, has been named chief operating officer.

Daniel Green will continue to serve as chairman.

Jonesboro, Ark., is the last place one would think communist-style workplace practices would flourish.

In the former Soviet Union, for example, it was common practice for employees to spy on one another for signs of nonconformity to report back to their officials, in return for small favors or privileges. In present-day Arkansas, employees at Simmons First Bank watch over one another, only they do it with a positive twist. …

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