A Brief History of Medina Banking Company
Medina Banking Company began as a locally owned community bank to serve the financial needs of Medina Tennessee and the surrounding communities. In 2005, the bank celebrated its 100th anniversary.
The charter for Medina Banking Company was signed on January 28, 1905 and
its founders were J.T. Walker, W.O. Graves, W.T. Birdsong, E.A. Rowlett, and J.T. Graves. Opening its doors for the first time to the public on April 17,1905, the bank began with only $25,000 in starting capital. The annual statement for the year ending December 31, 1905 showed assets of about $28,000, deposits of about $22,500 and an undivided profit of $13.86.
During the mid 1960's Freddie V. Barr and Charles C. King were hired by the bank and began working their way up through the ranks. Starting out in check-filing the two moved to proof operations, posting, teller row, and then on to the loan department. In the early 1970's both Mr. Barr and Mr. King were elected to the bank's Board of Directors. Over the next fifteen years they acquired more than 50% of the bank's stock
which allowed them to take over the management function.
In 1986 Mr. Barr and Mr. King formed a holding company, Medina
Bancshares Incorporated. After the untimely death of Mr. Barr on April
30 of that year Mr. King continued the function of the holding company
and purchased the available remaining shares of the bank's stock. The
final shares outstanding were purchased on January 1, 2001 to give the holding company 100% ownership of Medina Banking Company.
As of December 31, 2011, Medina Banking Company held assets of approximately $40 million with a strong capital base.
We are still a locally owned community bank serving portions of Gibson,
Madison, Carroll, and Crockett counties. Our Mission is to provide excellent financial services to customers while continuing to be a healthy and profitable independent community bank. Medina Banking Company takes great pride in its past and present reputation as being
a high quality and highly capitalized financial institution.
Special thanks is given to our former Chairman of the Board, Mr. Edwin Todd
(1926-2008) for this brief history.