Bankers want lots of security. They aren't in the risk business. They're more than willing to loan a business money but they want to be darn sure they can get it back--with interest. So, they take as security (collateral) a business's inventory, its property, its...
At our May Board meeting in 1975 news of Exchange's refusal to renew our line of credit brought an idea from Derry. He said he thought his friends at the small, Farmers and Traders Bank of California, Mo. might be interested in becoming our banker. ...
When we began business in 1972, Buell Baclesse had been our organizer, our first President, and the guy who arranged for our banking. He banked at Jefferson City's Exchange National Bank and talked to its president, Don Campbell, about a line of credit, secured by...
Jack was one of our incorporators, a shareholder and a board member. He'd come here because he was a friend of Buell's. He died on July 21, 1975. His death set in motion the problem of shareholder succession. I'd worried about this issue since our...
We hadn't been in business very long when Derry got a call from Dick Johnston, President of the Missouri Farm Bureau -- also located in Jefferson City. Johnston wanted to know if were interested in selling. Derry--an old cattle trader--responded "of course, anything is for...