Regional President Speech

ADDRESS OF PRESIDENT M. Monroe Kimbrel Executive Vice President First National Bank Thomson, Georgia 65th Annual Convention Georgia Bankers Association May 9, 1957 Today my tour of duty as President of the Georgia Bankers Association ends. It has been a wonderful, stimulating experience; one I shall always remember and for which I shall be eternally grateful. In almost any other year, the president would have turned over the gavel to his successor a month ago and gone fishing, but someone wanted to make sure I would work hard enough, so the Convention dates were moved into May, extending my term of office to thirteen months. My final act before taking your leave and handing the gavel to my distinguished successor, the last privilege, if you will, of the office of president of the Georgia Bankers Association is the opportunity afforded me now of addressing this great Convention. The past two years have been years of extensive travel and therefore, have been hurried. In thousands of miles of travel, I have criss-crossed the great state of Georgia many times. It has literally ben service from the Savannah River to the Chattahoochee River, from Lookout Mountain to the Okefenokee Swamp, and many opportunities were provided to observe the tremendous agricultural and industrial development of our wonderful state, I have fond memories of many new friends and of visiting with old friends. All of them, all of you have been most gracious and hospitable. I shall always be grateful for the privilege I have had, through your confidence and graciousness, to serve in the leadership of your association. It has given me an even stronger faith in the future of our state and renewed my assurance that banking will share importantly in the growth of Georgia if we can live up to the responsibilities before us. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 2 I should be remiss if I did not publicly acknowledge the great helpfulness of many persons. The governing body of your association between conventions is the Executive Council. This year, you provided me with one of the finest groups possible. Twelve members of this splendid group are aboard. I should like to present them to you now: W. G. Cobb - Chairman, Group 1, and President, Bulloch County Bank, Statesboro R, T. Muggridge, Jr., - Chairman, Group 2, and Vice President & Cashier, Farmers Bank of Pelham W. H, Van Landingham - Chairman, Group 3, and President, Citizens State Bank, Butler Jack P. Keith - Chairman, Group 4, and Executive Vice President, Manufacturers National Bank of Newnan, Newnan Y. H. Longino - Chairman, Group 5, and President, Fairburn Banking Company, Fairburn J. B. Fulghum - Chairman, Group 6, and Cashier, Bank of Wrightsville, Wrightsville D. L. McWhorter - Chairman, Group 7, and President, Farmers & Merchants Bank, Summerville A. L. Parrish - Chairman, Group 8, and President, Adel Banking Company, Adel N. E. Fackler - Chairman, Group 9, and Cashier, Etowah Bank, Canton John L. Hendon -• Treasurer, Georgia Bankers Association, and Vice President, First National Bank of Atlanta Only Hal P. Shank, Chairman, Group 10, and Cashier Washington Loan & Banking Company, Washington, was unable to join us. A splendid record and another evidence of the loyalty and enthusiasm demonstrated all year. Their Chairman is the Vice President of the Association, C. W. Curry. It has been a delightful experience working with him and I am indebted for his helpfulness on so many occasions. Most of you are aware that the major work of the association is accomplished in committees. What has been accomplished this year is attributable, in no small measure, to the work of the men who have headed these committees. May I ask them to stand as you express your appreciation to them: C. T. Parker - Country Bank Operations Committee - Executive Vice President, Commercial Bank & Trust Company, Griffin PI. K, Park - Federal Legislative Committee - Chairman, First National Bank of Columbus Russell A. Blanchard - Public Relations Committee - Executive Vice President, Georgia Railroad Bank & Trust Company, Augusta Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 3 Carl M. Floyd - Forestry Subcommittee of the Agricultural Committee - Senior Vice President, Fulton National Bank, Atlanta The other Chairmen who were unable to attend the Convention, but who did an outstanding job this year were: Staten S. Lewis - Chairman, Agricultural Committee and Executive Vice President, Baxley State Bank, Baxley William N. Downs - Chairman, Bank Employees Education Committee and Vice President, First National Bank 6c Trust Company, Macon W. Harris Edwards - Chairman, Installment Credit Committee and Executive Vice President, Bank of Chickamauga, Chickamauga T, H, Milner, Jr. - Chairman, Insurance Committee and President, National Bank of Athens, Athens W. D. Trippe - Chairman, State Legislative Committee and Chairman of the Board, Commercial National Bank, Cedartown Not for one moment would I overlook the loyal services of our secretary, William H. Hosch, and the assistant secretary, Miss Sue Roberts. You have no idea the amount of work they do. They have rendered yeoman service this year and have assisted me tremendously in the discharge of my responsibilities. 1 am deeply grateful to them. My thanks go also to all of you who have - on committees and in various ways - made your individual contributions to the work of the Georgia Bankers Association. Our association remains great because hundreds of bankers in its membership welcome the opportunity to render unselfish service. Then, there is one other who has meant so much to me this year. I refer, of course, to my own lovely wife, Nita, whose willingness, graciousness, patience, under­ standing and - I should add - endurance, have been so helpful. In the course of the past two years, I have spoken frequently on a common theme - a thought to which I have devoted considerable time - namely the responsibility for leadership by the banker of today. The single responsibility of the banker which rises above every other is the responsibility to safeguard the funds entrusted to him by his depositors. In my judgment, the banker can do this only by bringing sound and superior management to his own bank. In no other way can he better serve his depositors, his community and his stockholders. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis - 4 - It is one thing to advertise friendly and courteous service in broad generalities with words worn by constant usage. It is quite another matter to seek aggressively opportunities in our communities to make loans where they should be made and to assume sound credit risks instead of avoiding them. Early this year, we finally succeeded in obtaining the approval of the Board of Regents of the University System of Georgia to change the Georgia Bankers Loan Fund to a scholarship fund under the joint supervision of the Georgia Bankers Association and the University System. The plans and the procedure for awarding these scholarships were rather carefully *developed. It was hoped these scholarships would create additional good will and provide the opportunity for good publicity. The main purpose, though, was to provide worthy young men and women with the opportunity to pursue their studies at the college level. So far, the results have been discouraging. In spite of the wide distribution of the information and the apparent interest on the part of many, only one application was received and it was received about three weeks late. Undoubtedly, there are many eligible young men and women who would be happy to receive one of these scholarships. It is incumbent upon us to see that proper interest in the scholarships is created in our local schools and these young people encouraged to learn more about our industry. To tell the story of banking in our schools, your association is cooperating with the "In Account With Youth" program. Starting with the elementary grades and continuing through high school, this excellent material presents the story of thrift and banking. Already being used in several communities, it is available to others at a reasonable cost. In most instances, all banks in a community participate in the expense and no advertising is used on the material. Every bank in a county is given an opportunity to participate if they desire. Evidence that Georgia bankers are exceedingly anxious to contribute to the progress of our state was quickly demonstrated last year. Governor Marvin Griffin asked several business and professional groups to cooperate in his 5G-50 Plan to sell Georgia. Nation­ wide advertising was used to attract industrial leaders. Funds subscribed by various groups were to be matched by the State Department of Commerce. An appeal was Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 5 made to member banks for voluntary contributions and the $5,000 needed to match the amount suggested for Georgia banks was quickly forth coming. In fact, Georgia bankers were the first group to advise the governor our funds were available for matching purposes. It was tremendously encouraging to me to see 70% of the banks of the state contribute so readily. Many of you wrote letters expressing your delight at having an opportunity to participate. Georgia continues predominantly an agricultural state, and it is not surprising one of the more active committees of your association if the Agricultural Committee. Many successful programs were pursued during the year to provide banks an opportunity to render a broader and more helpful service to our farm people. Incidentally, the Future Farmers and Future Homemakers of America have undertaken a project to develop their camp facilities near Covington. Your Executive Council has reviewed the plans undertaken there and has given favorable consideration to participation by member banks. If you have not been approached, you undoubtedly will and we encourage you to explore fully generous participation in this development. The program of your association and its many activities continue to expand rapidly. This is a tribute to the helpful service you have rendered as individuals and to the service organized banking is providing our wonderful state. These expanded services, though, coupled with gradually rising costs in every field have provided a situation requiring review. For this reason, a special committee was appointed to study the current activities of your association to determine whether our program should be limited or altered in some fashion or whether it would seem more desirable to maintain the program of expansion and render wider service. If this latter alternative should be chosen, then it is inevitable some revision of the association dues schedule will be necessary. You will hear a report from this special committee headed by L. D, Ferguson of ThornasviHe. For some time, I have felt the Georgia Bankers Association was missing the services of one of its most valuable components - the younger bankers and the junior officers in our banks. Consequently, early in the year, I suggested consideration be given the formation of a Junior Bankers Section of the Association. Successful in other state associations, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 6 there was reason to believe it could be successful here. A great deal of study has followed, information has been assembled from other states, your Executive Council has subsequently approved and recommends to you the adoption of a Junior Bankers Section. A special group headed by Charles B. Presley of Augusta will report to you in detail a little later. An ever recurring question in the Georgia Bankers Association since 1929 has been some consideration of multiple banking, branch banking and facilities. This year has been no different. Possibly we have attempted to approach it from a slightly different angle. In January, we invited the executive officer of each bank in towns with a population of 10,000 or more to a meeting in Macon, for a full and open discussion of branch and facility matters. We reasoned that banks in these towns would have more problems and be more particularly interested. We were delighted at the spirit of cooperation and the willingness of those present to work toward some agreeable solution. From this meeting, subcommittees have been appointed to study laws of other states, to determine the attitude of the supervisory authorities and to counsel with all these members in an effort to develop some mutually acceptable program. Just what will be recommended, certainly no one knows. You may be sure, though, that every possible solution will be explored and that these men are giving generously of their time in an honest effort to develop some satisfactory area of understanding in a difficult problem. There is only one basic reason for the existence of banking. It must serve and it must serve well. The job that lies ahead then, is for us to explore constantly and zealously the ways banking can still help to promote our state’s growth. These are not problems someone else will have to worry about. These are problems requiring decisions now by you and by me and by our associates. It would be a terrible tragedy if banking through unsound or inadequate policies and practices should fail to lend its full weight to the potentials inherent in the growth of Georgia. Bankers have a great opportunity to play a large and constructive part in the wonderful developments that lie ahead. We must not hesitate to accept leadership where our influence can properly and judiciously be exercised. I am convinced Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 7 and proudly so, that banking has within it wonderful people, who not only demonstrate ability in financial matters, but who are vital forces in their communities and in the state as a whole. When it comes to talking about our achievements, I am afraid we, as bankers, are inclined to hide our light under a basket. The fact is, however, we can no longer count on having a good job become known if you stay silent. We need to broadcast the story of banking before schools, the PTA, Rotary Clubs and similar groups. Our aim should be to re-educate our people to the significance of banking in their communities and in their daily lives. Nor do I think we should gloss over our own mistakes. People have come to realize the man who makes no mistakes is the man who has never done anything. Important as our responsibilities are and as formidable as our task is, I am confident - confident the future of banking is in good hands. My tour of duty as president of your association provided me with the unusual opportunity to appraise at first hand the strength of our banking leadership today. This experience is the basis for my confidence. Bankers are aware of their responsibilities and they are striving to discharge them competently. I am confident that we shall meet the challenge of the future with banking leadership possessing intelligence, vision, industry and above all, character. If I have conveyed an impression of confidence and optimism, let me nonetheless, emphasize that the time has not yet arrived and never will when bankers can sit back and bask in the light of past accomplishments - small or great. Our association is based on our common interests and objectives. One of its functions is to stimulate and help its members find more ways to serve better and more efficiently. However, the real responsibility for providing better banking rests upon the bankers themselves. Each of us must have a full understanding of his obligations. It is not enough for us to learn through our association and other channels how to be better bankers, we must be better bankers. Let me paraphrase Abraham Lincoln, if I may: This administration has done the very best it could and knew how to do for all the banks and all the bankers. If the end brings it out wrong, ten angels swearing we were right will make no difference and Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis - 8 - if the end brings it out alright - which I most sincerely believe - what is said against this administration won't really matter. And to borrow from President George Washington at the conclusion of his inaugural address, "Having thus imparted to you my sentiments, as they have been awakened by the occasion which brings us together, I shall take my present leave; but not without resorting fi once more to the benigned Parent of the human race in humble supplication that since He has been pleased to favor the American people, with opportunities for deliberating in perfect tranquility, ....... .so may His divine blessings be equally conspicuous in the enlarged views, the temperate consultations, and the wise measures on which the success of our association must depend". Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Monroe Kimbrel (1957, May 8). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19570509_monroe_kimbrel

@misc{wtfs_regional_speeche_19570509_monroe_kimbrel,
  author = {Monroe Kimbrel},
  title = {Regional President Speech},
  year = {1957},
  month = {May},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19570509_monroe_kimbrel},
  note = {Retrieved via When the Fed Speaks corpus}
}