Home - Bank of Salem

A Rich History in Salem, Missouri

October 10, 1883

The Bank of Salem was founded, with W.R. Love as the first president. The bank’s first authorized capital was $13,000.00. (Photo of W.R. Love)

1929 - 1939, The Great Depression

There were five banks in Salem during the Great Depression, and not one failed. Security State Bank was later purchased by The Bank of Salem. (Fourth Street looking East, Circa ?)

1946

The Bank of Salem, located at 102 West Fourth Street since its founding, received a one-story addition immediately south of the original structure. (Bank's storefront at 102 W. Fourth Street, Circa ?)

1966

The bank purchased the two-story brick structure known as the Malone Building facing Third Street to further expand. The Judson Young Memorial Educational Foundation, Inc., was also established. (Photo of Judson Young)

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1982

The bank moved to its present location at the corner of Fourth and Main Streets after purchasing and remodeling the two-story brick building known as the Butler-Coffman Building.

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June 22, 2009

The bank opened its new full-service, Drive-In branch at the intersection of Highways 19-32-72.

October 10, 2023

The Bank of Salem celebrated its 140th birthday. We are still owned and operated by descendants of the original bank organizers, and our building houses many items of local historical interest. (Seal and Pouch dated 1883)

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