Bank boosts benefit
Published 5:48 pm Monday, June 22, 2009
By By Lisa Tindell
Officials at The Bank of Brewton have announced an increase in dividends to stockholders to be made available July 1.
Eddie Nall, senior vice president at the bank, said the decision was made recently by members of the board of directors.
Nall said the increase may be coming at a time when other bank stockholders could see a cut in dividends.
Nall said the Bank of Brewton has not participated in the government bail out by receiving Troubled Asset Relief Program funds.
Bank of Brewton is participating in the Transactions Account Guarantee Program, which provides unlimited FDIC deposit insurance for all demand deposit accounts, Nall said.
Bank of Brewton was organized by a local businessman, Charles L. Sowell, on Jan. 7, 1889. It was started to meet the financial needs of the community. Bank of Brewton is still locally owned and operated after 120 years of proudly serving the Brewton area, Nall said.