Citizens Building and Loan Association

Title

Citizens Building and Loan Association

Description

Citizen Building and Loan Association was chartered May 7, 1906 at the petition of B. M. Hughes, A. H. Miller and H. B. Carlisle of Spartanburg. Its original capitalization was $50,000, which was raised by the selling of 50,000 shares at a dollar each. Its capitalization was tripled to $150,000 in April 1916, indicating to some extent the level of business in the building of Greer. Citizens Building and Loan had its offices located in the Bank of Greer's building which was located on the northwest corner of the intersection of Trade and Victoria. When Farmers Bank and Trust merged with Bank of Greers in 1923, it was reported the Building and Loan Association had been created by the Bank of Greers and it was apparently still physically located on the premises. The new merged bank, Greer Bank and Trust was headquartered in the same building.

Information from Ray Belcher