 The
Cornland community was without
banking service until March 2,
1920, when M.B. Drake and George
Volle started State Bank of
Cornland with capital of
$35,000, which was supplied by
68 investors. Drake was named
cashier, and by June 30, 1920,
the new bank had total assets of
$105,651.The original
building cost $8,875. It was
badly damaged by a tornado on
April 19, 1927, that devastated
several communities in Logan and
Sangamon counties. The building
was rebuilt according to the
original plans and continued in
use until 1979, when a new bank
building was erected across the
street.
M.B. Drake served as cashier
until 1949, when he was replaced
by his son, George E. Drake, who
served through 1964. Other
cashiers were Lee D. Stults,
Gary M. Eike and W. Dale
Lyons. Paul Moody was cashier
for a short time just prior to
the merger with State Bank of
Lincoln in 1990, when the
Cornland Bank had deposits of $6
million.
Minnie D. Bryson was a
longtime employee of the State
Bank of Cornland, starting as a
part-time employee when she was
still in high school. She was
named vice president in 1948 and
retired in 1987 after serving
the bank for more than 50 years.
Erma Louise Bohn joined the
bank in 1959, was elected
assistant cashier in 1963 and
served in that capacity until
her retirement in 1985.
Most of the original
directors served on the board
until their deaths. Some of the
people who later served as
directors were Lulu Day Lanham,
David L. Drake, Dan Volle and
Allen C. Drake.
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At the open house, a money
collection will be displayed. It
was started in the 1920s by M.B.
Drake and includes gold coins
and some large-size paper money,
which was issued by a number of
area banks. This currency, while
rather unusual, was considered
legal tender and had the backing
of the federal government.
Currency known as "gold backs"
is also included in the
collection. In addition,
Cornland memorabilia will be on
display at the open house.
Donald L. "D.L." Stanfield is
manager in Cornland and has been
with the bank for 31 years.
Carla Clark, who has been with
the bank since 2004, assists
him.
[Text from file received]
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