Pub. 4 2016 Issue 2

8 The Community Banker www.mibonline.org G arfield County Bank is a full service, locally owned bank in Jordan, Montana serving Garfield County, McCone County and portions of Petroleum County. Garfield County Bank has filled a very important role in the growth of Garfield County and has contributed substantially to various community projects over the years. There were two banks opened in Jordan prior to 1960; neither bank survived the great depression of the 1930’s. In the 1950’s there were several community members who realized the need for a local bank to insure the survival and success of the town and county. They successfully raised enough capital and Garfield County Bank opened for business in Jordan, Montana on March 14, 1960. The first location was on the north side of Main Street where the county at- torney’s office is currently located. A new building was constructed on the south side of Main Street in 1968 and the Bank is still at that location. There have been two additions made to the current build- ing; the first addition was completed in 1979 and the most recent addition was completed in 2009. Garfield County Bank remains the only Bank located in Garfield County, Montana. Recognizing a need to better serve their customers in McCone County, Garfield County Bank opened their Redwater Valley Bank branch in Circle, Montana in August of 2012. Garfield County Bank’s mission is to maintain a profitable and competitive institution to serve the financial needs of the commu - nity, its businesses and its citizens. In 1990 a bank holding com- pany was formed; Garfield County Bancshares, Inc. currently owns the subsidiary corporations of Garfield County Bank and Jordan Insurance Service. The majority of the shares of Garfield County Bancshares, Inc. stock are owned by residents of Garfield County. Total beginning capitalization in 1960 was $125,000; by the end of 2015 Garfield County Bank had grown to $8,441,000 in Capital with $73,533,000 in assets. Garfield County Bank has had only two presidents; F.W. Winter served from 1960 to 1983 and Harold Isaacs has served from 1983 to present day. Garfield County Bank has had four CEO’s; Gene Buxcel, Charles Wendt, Shelley Ryan, and current CEO Rex Phipps. The origi- nal Board of Directors was F.W. Winter, Boyd Isaac, Harold Hageman, William Nefsy and J.E. Stanton. The current Board of Directors is Harold Isaacs, John FitzGerald, Shelley Ryan, Jo Dee Watson, Shane Harbaugh and Rex Phipps. GARFIELD COUNTY BANK Featured Member Bank