Wakulla Bank Celebrates 33 Years of Banking

{sidebar id=3}Wakulla Bank this month celebrated 33 years of quality banking and outstanding service for its customers and the community, and marked the occasion by thanking its customers with baked goods and balloons at all branch locations.

“We thank our customers for their business as well as the confidence and support they give us,” said President and CEO Walter C. Dodson Jr.  “We are proud to continue our dedication to quality and innovative service, and we look forward to another 33 years of growth and commitment to the communities we serve.”

In the Beginning

The bank opened its doors in 1974 as the first FDIC-insured bank in Wakulla County, and operated in a temporary modular facility until the 1975 completion of construction on its permanent building.

When the bank opened in 1974, the staff consisted of five employees; two of the employees – Bill Versiga and Walter Dodson (pictured at left) – still are part of the bank’s management team.  Tom Humphries served as the bank’s organizing chairman, Harry Morrison Sr. was the first president, and Dodson was executive vice president and CEO.  Dodson was an organizing board member, as well as Dr. Gerald D.N. Bryant (pictured at right); both Dodson and Bryant remain on the board today, and Bryant serves as chairman of the board. Dodson was named president in February 1977.

At the first year’s end, total assets were $1,250,204; loans totaled $57,990, and deposits were $904,685.  By 1979, total assets were more than $10 million.

Making History

The bank opened its first branch in 1983 in St. Marks, with Scott W. Gaby as branch manager.  A second branch followed in Woodville in 1989 – the first state charter bank to branch across county lines in Florida.  Lew Moore took the helm and still is the Woodville branch manager today.

By 1990, Wakulla Bank had grown to $49 million in assets with three locations. Total in-store locations grew to five by the end of 1999, bringing 1999 year-end assets to $166 million and earnings to $1,697,110.

Expansion to Accommodate Growth

The bank celebrated the new millennium by completing its Appleyard Branch, and added its Ochlockonee Bay Branch in 2001.  Additional in-store and branch locations followed, bringing the current total to 15 locations in four counties.

The bank in fall 2006 completed a four-phase, 30,000-square-foot renovation of the main office on Crawfordville Highway.  The facility now features a new drive-in facility that includes a lobby area open on Saturdays; a 10,000-square-foot lobby, and extensive updates to the main building.

Wakulla Bank’s next location, in Blountstown, will be a 5,500-square-foot building with an old Floridian look to complement Blountstown’s downtown renovation.  The facility will open this fall.

The bank’s staff now totals 165 employees who are proud to be an important component of Wakulla Bank’s hometown foundation.

Innovation in Products and Services

Wakulla Bank launched online banking in 2002, and is constantly expanding its line of innovative products and services for personal banking, businesses and investors.  The bank introduced business debit cards in 2006, offering business customers faster and more convenient access to their money.

Online customers enjoy the updated the look and feel of the bank’s homepage at www.wakullabank.com, which features dual authentication for online banking customers.  Stay tuned next month for the launch of Wakulla Bank’s all-new “Statement of Interest” e-newsletter for customers and community members.

The bank’s dedication to quality and customer service has not gone unnoticed.  For the third year in a row, Allen C. Ewing & Company recognized Wakulla Bank as a “Top Ten Performer” among all Florida banks.

“We are honored to have served our customers for thirty-three years, and we thank them for their loyalty,” said Dodson.  “We pledge that we will continue to bring quality banking to each community we serve through our combination of innovative products and hometown customer service."

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Wakulla Bank is an FDIC insured independent bank dedicated to quality and innovative service, with 15 locations in Calhoun, Leon, Liberty and Wakulla counties.  The bank maintains more than $475 million in assets.  To learn more, visit www.wakullabank.com .

This article originally published on October 17, 2007.

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