Consolidation Planned By Three Westminster Banks
Democratic Advocate, August 20, 1948
The proposed consolidation of three of Westminster's banks, The Westminister Savings Bank, The Farmers and Mechanic National Bank of Westminster, and The First National Bank of Westminster, was announced yesterday.
The three institutions would become a national banking association under the amended charter of The First National Bank of Westminster. Assets of the merged institution, to be known as Carroll County National Bank of Westminster, would be in excess of $41,000,000.
According to the joint statement issued by the Presidents of the three banks, conversations among the institutions have been going on for several months.
A joint consolidation committee, consisting of three Directors from each bank, has worked out the details of the consolidation and with officials have drawn up an agreement which was approved by the Board of Directors of all three institutions without dissent on July 29th last.
Democratic Advocate, August 20, 1948.
[19480820 Consolidation Planned By Three Westminster Banks DemoAdvo] 19480820 Consolidation Planned By Three Westminster Banks DemoAdvo
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