Question 1

What is Carroll County Trust Company?

Accepted Answer

Carroll County Trust Company is a community bank with an agricultural specialization headquartered in Carrollton, Missouri. With approximately $207 million in total assets and $170 million in deposits, the bank serves the small-town communities of north-central Missouri through three full-service branches.

As a state-chartered commercial bank supervised by the FDIC, Carroll County Trust Company focuses primarily on agricultural and residential mortgage lending, reflecting the rural character of the communities it serves. The bank is held by Carroll County Bancshares Inc., a holding company formed in 1986.

Question 2

When was Carroll County Trust Company founded?

Accepted Answer

Carroll County Trust Company was established on January 1, 1919, by a group of local farmers and businessmen who wanted to create an institution owned by public stockholders rather than a family-owned entity. The original Board of Directors included R.H. Monier, C.G. Bowers, L.G. Clark, C.R. Rogers, W.H. Trenchard, W.D. Pinney, Joel Stamm, Earl Johnson, Maj. E. Stipp, Henry Hartman, O.J. Lierley, and T.J. Sugg.

In 1920, Alma Scharfenberg became the first female employee at Carroll County Trust Company. Her daughter, Lucille Moeller Staton, would later work for the bank for 37 years, establishing a family legacy of service. The bank received FDIC insurance on January 1, 1934, during the early years of federal deposit insurance.

Throughout its history, the bank weathered the Great Depression and made strategic acquisitions. In 1934, it purchased the assets of The Banking House of Wilcoxson and Co. In 1937, it acquired The Carroll Exchange Bank, which had become insolvent during the Depression and was located at the northeast corner of the Carrollton town square.

Question 3

Where is Carroll County Trust Company headquartered?

Accepted Answer

Carroll County Trust Company is headquartered at 2 South Folger Street in Carrollton, Missouri. Carrollton, the county seat of Carroll County, has a population of approximately 4,000 people and serves as the commercial center for the surrounding agricultural communities.

Question 4

Where does Carroll County Trust Company operate?

Accepted Answer

Carroll County Trust Company operates three full-service branches throughout north-central Missouri. The main office is located in downtown Carrollton, serving the county seat. In 2008, the bank expanded to Hale, Missouri, when Carroll County Bancshares purchased the assets of Farmers & Merchants Bank of Hale and merged them into Carroll County Trust Company, creating the bank's first branch location.

In 2022, the bank opened its third branch on Highway 65 in Carrollton, expanding its presence in the local market. The bank primarily serves Carroll County and the surrounding smaller rural communities that comprise its service area.

Question 5

What services does Carroll County Trust Company offer?

Accepted Answer

Carroll County Trust Company offers a full range of personal and business banking services tailored to its rural community. The bank specializes in agricultural lending and residential mortgage loans, reflecting the needs of its farming community and local residents.

Deposit services include checking accounts, savings accounts, certificates of deposit (CDs), and business deposit accounts designed to support local businesses. The bank also maintains grandfathered trust powers, allowing it to provide trust services to clients.

Digital banking services include online banking with bill pay capabilities, e-statements, and mobile banking for both iOS and Android devices. Mobile banking features include account balance viewing, transaction history, fund transfers, loan payments, and electronic alerts (eAlerts) for banking transactions. The bank also supports Apple Pay for its Visa debit card customers.

All digital services are secured with 256-bit encryption to protect customer information and transactions.

Question 6

What makes Carroll County Trust Company unique?

Accepted Answer

Carroll County Trust Company stands out as a true community bank with deep roots in its local area, having served the same community continuously since 1919. The bank's founding by local farmers and businessmen established its agricultural focus, which remains central to its mission over a century later.

The bank maintains strong capital ratios, with tangible capital exceeding 6%, well above regulatory minimums. This conservative approach to capital management reflects its community bank philosophy and commitment to stability. With approximately 24 employees, the bank maintains a personal, relationship-based approach to banking that is increasingly rare in modern financial services.

Remarkably, one descendant of the original Board of Directors recently served on the bank's board: Keith Long, great-grandson of L.G. Clark, who was the original Vice-President of Carroll County Trust Company. This multi-generational connection symbolizes the bank's enduring commitment to its community.

Since its founding, Carroll County Trust Company has been led by just 12 presidents, including current leadership, demonstrating stability and continuity in management over more than a century of operation.

Question 7

What type of financial institution is Carroll County Trust Company?

Accepted Answer

Carroll County Trust Company is a commercial bank with state charter and federal non-member status, supervised by the FDIC. This classification means the bank operates under a Missouri state banking charter and is not a member of the Federal Reserve System, with the FDIC serving as its primary federal regulator.

The bank is classified as a community bank with agricultural specialization, making it one of the smaller, locally-focused institutions that serve rural America. It operates as a Subchapter S corporation for tax purposes and is held by Carroll County Bancshares Inc., a one-bank holding company. This structure is typical for community banks seeking to maintain local ownership and control while benefiting from holding company flexibility.

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