What is a “Roll of Honor” bank, and what does it mean to you as a
depositor, or as a possible depositor, that this institution has been
given that rating in the banking “hall of fame?”
A “Roll of Honor” bank is a bank that has voluntarily provided double
protection for its depositors by building up its surplus and undivided
profits account to a point where this reserve fund is equal to, or
greater than the capital of the bank.
The laws, either National or State, do not require any bank to provide
this “extra measure of safety.” As a matter of fact, the soundest
banking practice and the legal requirements of some states fix 20 per
cent of the bank’s capital as a sufficient reserve fund to maintain for
the safety of its depositors.
But before a bank can become known as a “Roll of Honor” bank, it must
voluntarily build up its surplus reserve fund to an amount at least five
times the usual requirements. So severe are the requirements that only
one bank in five in the entire country can qualify as a “Roll of Honor”
institution.
The fact that this bank has achieved this distinction stamps it as one
of the strongest institutions for its size in the whole United States.
You can see, therefore, that it does mean a great deal to you as a
depositor or as a possible depositor, that this is a “Roll of Honor”
bank. In addition to giving you “more than the law requires” in
protection, we are only striving to give you a “double measure” of
courteous and friendly service.