Mount Vernon in Franklin County, Texas — The American South (West South Central)
Site of the Merchants and Planters National Bank
Organized 1905
— Merged 1932 with the First National Bank of Mount Vernon —
Photographed By Mark Hilton, June 25, 2018
1. Site of the Merchants and Planters National Bank Marker
Inscription.
Site of the Merchants and Planters National Bank. Organized 1905. The present building was erected in 1910 after a fire destroyed the original M&P bank building. The Merchants and Planters Bank and First National Bank merged in March of 1932, during the national "Great Depression," which began in 1929. The Mount Vernon Optic-Herald of March 18, 1932 reported that the merger would "unquestionably give Mount Vernon and Franklin County one of the strongest banks in this section, as both of the banks were in sound condition." As a result of the merger, all banking operations were moved to the First National Bank building on the southeast corner of Main and Kaufman, which currently houses the Franklin County Library., Following the merger, the building continued to serve the community through a number of functions, including the Mount Vernon Post Office. Under ownership of Hermon and Bennie Connelly, it became the home of Sulphur Springs Loan and Building, Mount Vernon Real Estate and Insurance, and later Jefferson Heritage Bank. In 2001 the operation was purchased by First National Bank, some 69 years after the original merger between First National Bank and Merchants and Planters. The building was renovated in 2005 and continues to serve Franklin County as a First National Bank financial services facility. , "There are just two things necessary to have a Bank account with us , one dollar and an inclination to deposit it." , (1907 Merchants and Planters advertisement)
The present building was erected in 1910 after a fire destroyed the original M&P bank building. The Merchants & Planters Bank and First National Bank merged in March of 1932, during the national "Great Depression," which began in 1929. The Mount Vernon Optic-Herald of March 18, 1932 reported that the merger would "unquestionably give Mount Vernon and Franklin County one of the strongest banks in this section, as both of the banks were in sound condition." As a result of the merger, all banking operations were moved to the First National Bank building on the southeast corner of Main and Kaufman, which currently houses the Franklin County Library.
Following the merger, the building continued to serve the community through a number of functions, including the Mount Vernon Post Office. Under ownership of Hermon and Bennie Connelly, it became the home of Sulphur Springs Loan & Building, Mount Vernon Real Estate & Insurance, and later Jefferson Heritage Bank. In 2001 the operation was purchased by First National Bank, some 69 years after the original merger between First National Bank and Merchants & Planters. The building was renovated in 2005 and continues to serve Franklin County as a First National Bank financial services facility.
"There are just two things necessary to have a Bank account with us — one
Click or scan to see this page online
dollar and an inclination to deposit it."
(1907 Merchants & Planters advertisement)
Topics. This historical marker is listed in these topic lists: Industry & Commerce • Notable Buildings. A significant historical month for this entry is March 1932.
Location. 33° 11.325′ N, 95° 13.3′ W. Marker is in Mount Vernon, Texas, in Franklin County. Marker is at the intersection of North Kaufman Street (Texas Route 37) and Main Street (U.S. 67), on the right when traveling west on North Kaufman Street. Touch for map. Marker is at or near this postal address: 101 North Kaufman Street, Mount Vernon TX 75457, United States of America. Touch for directions.
3. Building a History photo collage, also on the outside of the bank.
Photographed By Mark Hilton, June 25, 2018
4. Current Franklin County Library on far corner - previous First National Bank.
Credits. This page was last revised on July 15, 2018. It was originally submitted on July 15, 2018, by Mark Hilton of Montgomery, Alabama. This page has been viewed 249 times since then and 26 times this year. Photos:1, 2, 3, 4. submitted on July 15, 2018, by Mark Hilton of Montgomery, Alabama.