Shelby County, IndianaCharles W. Culbertson, president of the First National Bank in this city for the past five years, resigned from the office this afternoon at the annual meeting held by the stockholders of the Institution. The board of directors met later and elected C. W. Billingsley to the presidency of the bank and the change become effective immediately.
The Banking Industry
First National Bank
John A. Young, Cashier; John Messick, Pres; W. Major; Charles W. Culbertson, Ass't Cashier
Mr. Goodrich, Bookkeeper Mr. I. N. Cooper, Bookkeeper
Pictures from Boetker's Picturesque Shelbyville
The Shelby Democrat
January 15, 1925
Page 5, Column 1
C. W. CULBERTSON
RETIRES FROM BANK
Resignation Submitted at
Meeting of Stockholders
Vice-President For One Year
Ascends to High Office -- J. G. DePrez
Purposes Retirement as
The resignation of Mr. Culbertson as president of the First National bank comes after forty-four years of constant service in the active operation of the bank. He iwll continue his connection with the institution as a member of the board of directors to which he was re-elected this afternoon and he will also maintain his extensive business interests in other financial projects with which he has been associated for a number of years.
Mr. Culbertson stated today in commenting on his resignation that he feels he has earned the right to take a much needed rest after more than a half century of work with few intermittent vacations. Mr. Culbertson entered the services of the First National Bank forty-four years ago when the institution had been a national bank only 16 years. He advanced from the position of clerk and bookkeeper to the highest office possible to reach in the organization of the bank. Prior to his connection with the bank Mr. Culbertson was connected with the local office of the Pennsylvania railroad company where he was on duty for seven years and before that he followed the vocation of a building contractor. Mr. Culbertson is 73 years old in in the years to come he will devote himslf to the avocations that have arisen from time to time but for which he has not had the time to spare. He has been one of the most diligent workers in the business life of Shelbyville and his retirement is deserved.
One year ago, Mr. Billingsley became the first or active vice-president of the First National Bank after a number of years as a member of the board of directors. Mr. Millingley had up to that time been connected with the grain business in Shelby county for a period of thirty six years and his acquaintance was one of the largest of any man in the community. The success which he has met in one year at the bank marked him as the choice for the successor to Mr. Culbertson and the selection of the board of directords wil meet the instant approval of the stockholders and patrons of the institution.
Several other changes of as much importance were due to take place n the reorganization of the official family of the First National Bank, it was initmated today. The meeting of the stockholders did not get under way until 3 o'clock this afternoon and action on several proposed changes was not taken up until late in the afternoon.
J. G. DePrez had asked the board of directors to consider his retirement as second vice-president of the bank in favor of Albert F. Wray. Mr. DePrez has been an officer of the institution for many years and there was some possibility that he would be asked to remain in the office he has been filling. Another change in the list of the officials was being contemplated and was to be settled at the meeting of the directors this afternoon. The same board of directors consisting of Mr. DePrez, Mr. Culbertson, Mr. Wray, Mr. Billingsley, Frank W. Fagel and Joseph E. McCartney , was elected this afternoon.
Contributed by Phyllis Miller Fleming
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