W. B. Womack, president; N. M. Harrison, vice-president; W. O. Boyd, cashier-bookkeeper; H. P. McGaughy, assistant cashier. W. O. Boyd served as cashier the first year and resigned because of other business interests at the first annual meeting in January, 1902, and W. C. Barnwell was elected in his place and served a number of years. The bank opened for business in the tax collector’s office in the courthouse and in about two months was moved from there to the present location. Briggs & Warren served as the bank’s attorneys. May 1, 1901, marks several significant events in Gilmer’s meeting which took place in the courthouse, and for several weeks the bank conducted its business in the courthouse in the office of Joe Martin, then tax collector, while the new quarters were being built. May 1, 1901 marks several significant events in Gilmer’s banking life. On that date C. T. Crosby, who is now cashier at the Farmers & Merchants National Bank, began his banking career, at the First National Bank, and paradoxically, H. P. McGaughy, who is now president of the First National Bank, started out that day as a banker in Gilmer, as assistant cashier and bookkeeper with the newly organized Farmers & Merchants. Mr. McGaughy’s connection with the First National Bank dates from 1906, and he gained the presidency following the death of the late Dr. T. S. Ragland. Vice-presidents of the First National are L. G. Martin, who has been with the institution over thirty years, and V. E. Todd, who became connected with the First National at the time that institution took over the defunct State Bank. Mr. C. T. Crosby, meanwhile severed his connection with the First National Bank about 1908 and moved to Glenwood, Arkansas, where he conducted a mercantile business for three years. Returning to Gilmer in the fall of 1911, he joined the staff of the F. & M. Bank in January, 1912. The late J. P. Ray, who was acting vice-president of the F. & M. Bank when he died, had been with the bank since 1923. And that’s a brief history of banking in Gilmer. Now, just one more backward glance to the names on that first called financial statement in Gilmer’s history, of April 13, 1900. They were: L. R. Hall, cashier; W. Boyd Sr., S. D. Futrell and J. W. Saunders, directors, and the documents were duly notarized by J. B. Oliver, notary public. Sand on the Courthouse Square