Peoples Bank of Graceville celebrates 50 Years of “Banking on Service”

Fifty years ago, on Friday, July 12, 1974 Graceville resident and businessman Don Graham welcomed the first customers into Peoples Bank of Graceville as it officially opened its doors as the second bank in the City of Graceville. Now, 50 years later current employees welcome customers in that same bank located on the same corner of Brown Street. While there may be many changes from when those doors first opened to today, one thing remains the same, when a person walks through Peoples Bank of Graceville’s doors, they still receive the hometown customer service that it opened with fifty years ago.

The journey began with several businessmen, a growing economy, and an idea. The idea was to bring more competition to the small town of Graceville in 1974 by opening an independent bank called Peoples Bank of Graceville to compete with the only other community bank. The town’s booming economy had a yearly payroll of over $3.1 million thanks to local businesses including three major employers Gold Kist Peanut Mill, Rex Lumber Company, and Vanity Fair and a second bank was just what the town needed to help aid in its financial growth. The bank’s first president Don Graham reminisced on Graceville business leader Robert McRae Sr, seeking him out where he worked in Dothan, Alabama. While Graham was hesitant at first, he gives credit to McRae’s persistence as one of the reasons he decided to give Florida banking a shot.

Peoples Bank of Graceville was brought to life with ten directors and eight employees diligently working and thriving for the community bank to be a success. The bank opened with ten bank directors and eight employees. Original members of the bank’s board of directors included Graceville Oil Company owner P.W. (Sid) Bottoms, Peoples Bank of Graceville president Donald Graham, then president of Citizens State Bank of Marianna John Manor, Rex Lumber Company owner Robert McRae, Marianna attorney Joe Sheffield, then President of Baptist Bible Institute (now Baptist University of Florida), Dr. James Southerland, and Graceville businessmen J.D. “Buck” Barker, Seabron Miles, Sr., George Morrow, and Clifford Pelham.

A groundbreaking ceremony for the bank was held Thursday, January 31, 1974 at the same location the bank currently sits, 5603 Brown Street. Hundreds of people gathered for the grand event and watched as Graceville leaders and two members of the bank’s original Board of Directors, J.D. “Buck” Barker and Robert McRae, Sr. over- turned the first pieces of sod at the construction site with gold painted shovels.

Construction of Peoples Bank was supervised by Graceville resident J.B. Pelham. The 4,600 square foot building was not only spacious but also offered three drive-in windows for quicker service. Completing in record time, an open house for the bank was held a little over five months after the groundbreaking ceremony on Thursday, July 11, 1974. Members of the community were able to view the new bank and meet its employees. The following day Friday, July 12, 1974 the bank’s first official day commenced with a ribbon cutting. The ribbon was cut by Board of Director Robert McRrae Sr.’s mother, Mrs. W.D. McRae, with President Don Graham’s four-year-old daughter, Laura Graham (Watford) standing beside her to assist. The bank had a total amount of assets at $450,000 and while most new banks took more than two years to turn a profit the diligent work of those who loved the bank and its employees dedication to customer service allowed the bank to turn a profit of $12,000 its first year according to Don Graham.

Peoples Bank of Graceville continued to prosper the following years. Within ten years, it had grown into a successful community bank with its assets growing from $450,000 to over $20 million by July 1984. The bank building also expanded in 1980 making the building 6,600 square feet. Its 10-year anniversary also saw growth in the bank employment roster with an increase from eight to fourteen employees.

The local institution has seen and veered through many decades. Some of those decades were prosperous for the industry, others brought on new technology and systems, and some also brought regulations and a fallen financial economy. However, through each of those times in American history, Peoples Bank of Graceville continues to push forward as the only community-owned bank in the Tri-County area and one of the less than 80 left in the entire State of Florida. Currently the bank has 16 employees. Bank officers are David Watford, President; Carol Smith, Executive VP; Benjie Crisp, Executive VP; Patrick Bush, VP and John Turner. Current members of the Board of Directors are Donald Graham, David Watford, Carol Smith, Benjie Crisp, John Turner, Ronald Barber, Tim Smith, Caroline McRae Dauzat, Charles McRae and Chris Jernigan.

Now, 50 years later, Peoples Bank of Graceville is more than a dream. It’s more than financial incentive. It’s more than a business decision. Peoples Bank of Graceville is about family, tradition, and customer service. Customers are still greeted with local smiles and an attitude to serve with walking into the bank. At Peoples Bank of Graceville, customers still see and know every face from the bank teller to the bank president. The bank holds true to its principals of customers being treated like family and an excellent customer service center, where many customers get an answer the same day a question is asked staying true to their logo – “Banking on Service”.

PHOTO CUTLINES:

CURRENT PEOPLES BANK OF GRACEVILLE STAFF - From left, Sandy Toole (10 Years), Patrick Bush (23 Years), Stacey Peters (16 Years), Angie Woods (10 Years), Karen Owens (6 Years), Lynne Hickman (38 Years), Nancy Skipper (15 Years), Martha Sasser (43 Years), Carol Smith (48 Years), Blake Gardner (1 Year), Benjie Crisp (47 Years), Olivia Addison (9 Years), David Watford (28 Years), Chastity Drummond ( 3 Years), and John Turner (14 Years).

PEOPLES BANK OF GRACEVILLE RIBBON CUTTING - (from left) Donald Graham stands with his daughter, Laura, as Mrs. W.D. McRae cuts the ribbon. Board directors Clifford Pelham (behind Mrs. McRae), Robert McRae (left to right), J.D. “Buck” Barker, O.S. Miles, and Dr. James Southerland all look on.

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