This three-ring binder is a ledger organized alphabetically by the borrower’s name noting loans made by First National Bank to local individuals and organizations during the period 1928-1930. It lists the amount of the loan and the collateral, and has original signatures of the Finance Committee approving each loan.

Amounts range from a few hundred dollars to several thousand dollars with collateral frequently being real estate, mules, crops, insurance policies, and stock in companies like Coca Cola and Mandeville Mills. The Finance Committee was made up of prominent citizens including medical doctors M.M. Hallum and H.J. Goodwyn, and merchants J.W. Stewart and A.J. Baskin. The borrowers included many familiar local names, and included the city Methodist church, C.M. Tanner Grocer, and Carroll Mills.

This was a critical period for the mostly agricultural community in Carroll County with a record drought affecting crops, the boll weevil eating away at the cotton economy, and the Depression affecting every enterprise. In the year following the last entries in this ledger, the bank was forced to close.