Iola's only bank cites lack of growth in closure

Nov 29, 2008 Full story: Theeagle.com 7

The financial institution once known as Iola State Bank -- founded 101 years ago and the lone bank in the town of 350 people -- will close its doors at the end of the year, three years after being acquired by ...

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Daniel Lee

Clyde, TX

#1 Nov 29, 2008
" Our customers are visiting less and less to the Iola location," Bow said. "We do not expect more growth in this area, so the decision was made to close this store on Monday, Dec. 29."
Hear that Dandy Doug Devine, the bank doesn't expect more growth in this area so they are leaving, but, Iola ISD will have a new $11million school and a $1.3 million football field, too bad there won't be anyone left living in Iola to attend the games!
unbelieveable

United States

#2 Apr 10, 2009
I wonder if they've found someone stupid enough to buy the bonds yet?
Who's going to pay it?
Main street has 12 buildings on it. Only 2 of those buildings have operating businesses in them. The remaining 10 buildings are either being used as storage or are for sale, including the bank building!
The town is dying a slow death, but, we'll have the best football field in the state!
I wonder, now that the early voting booths are no longer going to be in the school with the school secty as the election judge overseeing (no conflict of interest there) if the school will win as many of their projects as they usually do?
dumbfounded

Cross Plains, TX

#3 Sep 6, 2009
The town is dying, but, we're going to have a first class football field, WTG Iola!
fresh start

Crockett, TX

#4 Mar 28, 2010
get a new school board, John Kay, Mike Wethington & Ira Betts challenging incumbents for seats.
Vote the old guard out, the ones who raised your taxes so they could have a new football field.
Truth be told

Watertown, NY

#5 Mar 29, 2010
So what you are saying is that Iola made the bank go bankrupt with people from hearne working there?
But yet you will be keeping the money for your silly ass field!! Fix your streets first, then consider adding a field.
fresh start

Grapeland, TX

#6 Apr 10, 2010
what are you talking about, who mentioned Hearne?
The bank didn't go bankrupt, it was a wells fargo bank, but wells fargo didn't think there was enough growth in Iola to warrant staying open, but the school thinks there's enough growth (there isn't) to build a new school and football field.
Metiche

Köln, Germany

#7 Jun 16, 2012
Plow the whole town under. What a joke iola...
Rednecks have no future...

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