Nineteen hundred and nine was a special year. It was a time before coast to coast telephone service, airmail, World War I, and before many products such as electric refrigerators, television, radio, copy machines, calculators, electronic banking, tape recorders, nylon, and ball-point pens became a part of every day life. There were 90,492,000 people in the 46 states. William Howard Taft was inaugurated as the 27th President of the United States. During the first year of Taft's administration 700,000 acres of government lands were opened to settlers in Washington, Montana, and Idaho. On June 6, 1909, a group of men met in the office of Granade and Granade, Attorneys, for the purpose of organizing a bank. Originally called Chatom State Bank, the charter was filed July 1, 1909, with a capital stock of $25,000 and 250 shares at $100 per share. The following were named as presiding officers of the newly organized bank: James N. Granade, President; Oscar L. Gray, Vice President; C. T. McCorquodale, Secretary; and M. L. Smith, Cashier. Business of the bank was first conducted in the tax assessor's office in the Washington County Courthouse and continued there until 1914.