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Show Board Meeting held by State BanEc noted the approval was received this past year for a new Kanab Branch, Bank Vice President, L. A. Whetten, reported on the financial position of the bank, stating that 1977 had been the best in the history of the bank, with deposits up 19 percent, resources up 19 percent, total income up 11 percent, loans up 12 percent, and a net income of $6.84 per share of stock. Elected to the Board of Directors of State Bank of Southern Utah were: Charles Blackburn, Robert B. Bradshaw, L. V. Broadbent, Warren H, Bulloch, Elwood J. Corry, James Hoyle, Jr., L. M. Jones. Jeffery J. Marchant, Clarence E. Miller, William R. Thorley, Louis Webster, L. A. Whetten and Thomas L. Williams, Twenty years of service to Southern Utah was among topics discussed in the annual an-nual meeting of stockholders of the State Bank of Southern Utah held here earlier this month, according to Warren H. Bulloch, President of the Bank. Also highlighted at the meeting were the financial report of the bank and the election of the Board of Directors for the locally owned institution. Secretary to the Board of Directors, and the bank's Senior Vice President and Cashier, Eldon W. Schmutz, reviewed the 20 years since organization of the bank in 1957. Highlights included: purchase of the old library building on Cedar's Main Street in 1968, the same year Mastercharge was initiated at the bank; completion of the new Cedar bank building which now houses the bank, in 1972; approval for the Orderville Branch of State Bank of Southern Utah in 1974; and opening of that branch the next year. Secretary Schmutz also |