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RBC
150
Let me tell you about the business they ran for thirty years. And let me tell you about the even greater heights it has achieved in the last decade.
Dan and Nancy grew up in the village of Richwood, Ohio, as did I. Their parents were Kenneth and Freda Kyle .
Over the next two decades Mr. Kyle and Mr. Thomas would have many business dealings, including arranging auto loans for customers. Eventually things changed. Dan bought the house next to ours, my father retired, and I relocated to Pennsylvania. Kenny Kyle died in 1977 and Dan succeeded him as bank president. Apparently the bank was in need of additional capital in the fall of 1989. Anyway, Dan made a suggestion. Perhaps his next-door neighbors son that would be me might want to invest in the banks privately-held stock. The annual dividends were rather small, but the stock had been steadily growing in value. So, with my father acting as the go-between, I bought some shares at $16.86. (In 2017, that stock is worth more than 12 times as much, and Im told theres a lengthy waiting list of people whod like to buy shares.)
He is an officer of the bank, a CPA, and is on his way, way up in the bank. I don't know just what his official title is, but you can bet that Freda and Nancy will have him running the whole thing before long. And I believe he is capable.
There were only about 400 village residents in 1867, when a local clergyman founded The Bank of Richwood. It survived 19th-century panics and 20th-century depressions when other financial institutions were falling by the wayside. Then it successfully competed when other banks tried to establish branch offices in town, proclaiming Where others have their branches, we have our roots! |
Its Richwood office is this imposing marble-fronted structure on North Franklin Street. The town is too small for a Starbucks franchise. Therefore, since Richwood Bank has a great location and a large lobby area, says its website, why not create a destination for those seeking a special experience? We are dedicated to providing a relaxing atmosphere for people of all ages to come and enjoy free WiFi and the delicious drink of their choice! They call it Richwood Coffee.
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By the way, the website continues, if you have any banking needs, Richwood Bank is a few feet away ready to provide the same special experience with your finances! The baristas staff the counter in the center of this picture, while the tellers have their stations on the right.
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Besides Richwood Coffee, theres Richwood Marketing over on East Ottawa Street, with 72 clients. Theres Richwood Financial, offering services like financial planning. Theres Richwood Payroll, with over 150 commercial clients. Theres Richwood Insurance. And, in the Human Resources department, theres something called Richwood U. Tim Coan, the banks director of education, told us that each new employee receives an intensive two days of training, with the goal being expertise with personality.
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