1998 Regular Session

To: Rules

By: Senator(s) Simmons

Senate Concurrent Resolution 613

(As Adopted by Senate)


WHEREAS, the Valley Bank in Rosedale, Mississippi, began February 17, 1998, celebrating 100 years of service to the community and its customers; and

WHEREAS, on September 22, 1898, the Governor of Mississippi signed a charter creating and incorporating the Valley Bank for the sum of $25,000.00, which allowed the bank to open for business in November 1898; and

WHEREAS, while not the first bank in Bolivar County, the Valley Bank remains the oldest bank in the county, located on the same Main and Court Street corner as it did in 1898; and

WHEREAS, over the years, the original Valley Bank building has undergone several remodeling activities including fresh paint, a new roof and a drive-in facility added in 1971, bringing the bank building into the 21st century; and

WHEREAS, the Wilson family of Rosedale, Mississippi, prominent in the banking industry for years, has played a significant role in the operation of the Valley Bank from the time of incorporation; and

WHEREAS, when President Roosevelt closed the banks in 1933 in order to save the underlying financial structure of the nation, Valley Bank officials, under the leadership of Mr. J.L. Wilson, managed to help citizens and depositors who found themselves short of money; and

WHEREAS, Mr. Wilson maintained the community nature of the bank with the individual customer in mind by helping those in need personally or with the bank's assistance; and

WHEREAS, today, the Valley Bank still focuses its foundation on community banking with the individual customer in mind, with a strong emphasis on agricultural lending, making the bank a leader in the agricultural lending field; and

WHEREAS, in the last 10 years the Valley Bank has seen considerable financial growth, growing from $13 Million in assets to over $150 Million in assets; and

WHEREAS, a recent federal survey shows that the Valley Bank ranks number one out of 126 banks in Mississippi, in both loan volume and dollar amount under the Farm Service Agency in business and industry loans; and

WHEREAS, while under the Small Business Administration, the Valley Bank ranked number two in dollar amount and number four in loan volume; and

WHEREAS, the Legislature of the State of Mississippi finds it most appropriate to pay special tribute to such an outstanding business as the Valley Bank, whose dedication to the community has been evidenced since the foundation of the bank:

NOW, THEREFORE, BE IT RESOLVED BY THE MISSISSIPPI STATE SENATE, THE HOUSE OF REPRESENTATIVES CONCURRING THEREIN, That we commend and congratulate the Valley Bank of Rosedale, Mississippi, for its 100th anniversary celebration and extend to them our best wishes for success in their future endeavors.

BE IT FURTHER RESOLVED, That copies of this resolution be furnished to the Valley Bank and the Capitol Press Corps.