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“Home Owned and Operated Since 1900”

1900-1908: On March 30, 1900, stockholders met in Pontotoc to organize the Merchants and Farmers Bank. The bank opened for business on September 1, 1900, in the Salmon and Wilson Store. Officers were J.H. Salmon, President; L.A. Latham, Vice President; W.A. Boone, Cashier and W.T. Furr, W.W. East, J.L. Henderson, W.L. Wilson, George T. Mitchell, Directors. The first statement dated September 29, 1900, showed assets to be $25,684.11, loans were $3,770.24.


1908-1933: March 12, 1908, Merchants and Farmers Bank was granted a national bank charter with the bank’s name being changed to The First National Bank of Pontotoc. At this time, the location of the bank was moved to the new Sawilmon Hotel on Main Street. Officers and directors were J.H. Salmon, President; L.A. Latham, O.J. Knox, W.M. Mauldin, W.T. Furr, W.W. East, Byron Garner and George T. Mitchell. By the 1930’s, assets had grown to $937,727.04 and loans to $498,676.51.

During this period, the Merchants and Farmers Bank of Ecru remained a branch office. The Bank of Toccopola merged with First National Bank. J. Wylie Moore, Jeff T. Wilson, F.T. Furr and Mary Mabry Knox were prominent members of the bank staff. President John Henry Salmon died in 1926. W.A. Boone was named President and remained President until all banks were closed by the Federal Government during the depression years. Reopening terms were tough and firm, but the First National Bank was able to reopen in only a few days- before any other bank in Pontotoc county. On February 18, 1931, Al Duff became President and served until his death on April 21, 1931. (His salary for the month and three days was $100.) John H. Salmon was elected President in 1931.

December 9, 1933, fire destroyed the Sawilmon Hotel. All the bank’s records were saved by officers and townspeople. The vault doors were closed before flames reached the area, thereby preventing destruction of the contents. Temporary headquarters were located in the Supervisor’s room of the Pontotoc County Courthouse.


1933-1965: A new building was constructed on the same location, the corner of Jefferson and Main Street. The famous bank clock was placed on the front for everyone’s convenience. John H. Salmon, President, and the bank staff actively participated in the industrial and agricultural development of Pontotoc County. John H. Salmon was the charter president of the Industrial Group composed of over 100 businesses and professional firms. Directors included: William Jackson, Mary Knox, Roy Guthrie, Harvey Whitworth and J.D. Doty. Assets grew from $933,000 in 1940 to over $5,000,000 in 1965. Loans grew from $134,000 to over $2,000,000.

After John H. Salmon’s death, Farrell Berryhill officially became President on January 12, 1965. Farrell Berryhill was closely involved with the community. He served as Chairman of the Pontotoc County Development Association, a county-wide Chamber of Commerce, for many terms and was active in securing many of the manufacturing facilities in Pontotoc. He was a member of the North Mississippi Industrial Development Association for many years and President of numerous clubs and civic organizations. He served on various college boards and was President of Mississippi Young Bankers Association for one year. In 1986-87, he was President of the Mississippi Banker’s Association. He was also Chairman of Mississippi School of Banking at the University of Mississippi and a member of numerous Mississippi Banking Committees and three American Banker’s Association Committees.



1965-1993: During the years of Farrell Berryhill’s presidency, the first branch located on Highway 15 was opened on December 29, 1968, with three inside teller windows and two drive-thru lanes. Since then, the downtown bank building has been enlarged and remodeled three times. The first renovation began on September 10, 1969. During this time, the bank operated from a small building north of the present site. Directors were Farrell Berryhill, Mrs. Mary Knox, Buddy R. Montgomery, Mrs. John H. Salmon, Jeff T. Wilson and Judge J.D. Doty. Clyde Rutherford served as director from December 1966 to May 1969. Also joining the board in July 1972 was J. Lowell Whitworth and Larry Russell in August 1972. Richard Doty became a director in 1983. Assets grew from $7,000,000 in 1967 to $124,337,000 in 1993. In 1987, a network computer system was put into place; therefore, manual entries became obsolete and account information was easy to access. Also during this time, a drive-thru facility and an elevator was installed in the main office building. A unique tradition was begun at the bank by serving customer appreciation lunches during Christmas open house festivities. First National Bank was recognized as one of the outstanding small banks in the United States and has received many national five star ratings. Farrell Berryhill was named Mississippi Industrial Volunteer of the year for 1992. He was instrumental in developing Pontotoc’s first two industrial parks. He was also involved in approximately 90% of the recruitment and financing of Pontotoc’s industry. Also, in 1992, he was voted Pontotoc County Man of the Year. For twelve years he was on the executive committee of Tennessee-Tombigbee River Valley Water District Board of Directors.




1993-Present: Farrell Berryhill died on May 23, 1993, and Buddy R. Montgomery was named President and Larry Russell Executive Vice President. In 1994, First National Bank acquired the Pontotoc Branch of Security Federal’s Savings and Loan. The bank assumed $7,000,000 in deposits and purchased several of the loans in the acquisition.

During this time, a swap was made with the Henderson-Boone Insurance Agency and the Security Federal building to provide future growth for the bank. With the help of Pontotoc County Citizens in 1997 a hostile take-over bid was rebuffed by First National Bank. As a result, First National Bank became the property of Pontotoc BancShares Corp, a holding company.


The present holding company directors are Buddy R. Montgomery, Chairman; Larry Russell, Secretary; Michael Simon, Judge Charles Thomas, John A. Ashmore, Robert McDonald III, Julie Henry and Shane Clayton. The present officers are Buddy R. Montgomery, President, CEO; Larry Russell, Senior Executive Vice President; and Julie Henry, Treasurer. The first full-service branch was opened on Monday, November 10, 1997, located at the intersection of Highway 15 Bypass and Industrial Drive.


The 5,400 square-foot facility includes five drive-thru teller stations, six inside teller stations, an automated teller machine and a safe deposit box vault. At this time, the original branch bank was closed. In the summer of 2011, First National Bank made a decision to invest in the future of Ecru by placing a new branch in the city limits. Shortly after that decision, a piece of property was purchased, and to help things get going as soon as possible, a mobile unit was brought in to serve the customers in Ecru while the new bank was being constructed at 7670 Hwy 15 North. As of October 13, 2011, First National officially opened its doors in Ecru, and on October 1, 2012, the new building was open for business as a full service branch of First National Bank of Pontotoc. The building includes two drive-thru teller stations, a drive-thru automated teller machine, and four inside teller stations. Over the years, First National Bank has maintained a well-respected reputation and has remained a solid financial institution. Five star ratings of the institution continue year after year. First National Bank is currently a member of the Mississippi Bankers’ Association and the American Bankers’ Association.

Continuous efforts are being made by the bank to promote growth and the enrichment of the quality of life throughout Pontotoc County. First National Bank’s directors, officers and employees have always been known for their friendliness, dedication, hard work and interest in the community and its endeavors. Employees have steadily increased over the years. The bank offers various educational opportunities for its employees. Many have received certificates from the American Institute of Banking, have graduated from Mid-South School of Banking and The Graduate School of Banking, have attended various seminars, and have completed extensive computer training.

Buddy R. Montgomery, President, is involved in numerous community, educational and banking organizations. He is a member and past president of the Pontotoc Rotary Club and member and a past chairman of the Itawamba Community College Foundation Committee. Buddy is a member and past chairman of the Pontotoc County Chamber of Commerce Economic and Community Development Committee. He is also a member of the Board of Directors of North Mississippi Health Services and North Mississippi Health Services Foundation. Buddy also serves on the Mississippi Bankers Executive Committee and the Mississippi Bankers Association Insurance Committee.

First National Bank’s board of directors, officers and staff have successfully completed its smooth transition into the 21st century. First National Bank has long enjoyed the reputation of being home-owned and operated. Community ties are strong. The bank is committed to continue this tradition throughout its future history. The bank will continue to honor its motto- “You’re important to us, and we prove it!”


© First National Bank