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Abbeville First Bank, SSB Recognized as a Centennial Business

Secretary of State honors domestic businesses that have been on file with office for 100+ years.

9/26/2016
(ABBEVILLE, SC) -- Today Secretary of State Mark Hammond officially recognized Abbeville First Bank, SSB as a South Carolina Centennial Business.  This honor is the first of its kind in the state of South Carolina, and is reserved for domestic business entities that have been on file with the Secretary of State’s Office for 100 years or more. 
 
Secretary Hammond honored Abbeville First Bank, SSB at its headquarters in Abbeville, South Carolina.  “Small businesses form the cornerstones of our communities and drive our state toward prosperity,” said Secretary Hammond.  “Such is the case of Abbeville First Bank, which has been a true pillar of its community by fostering homeownership for more than a century.  I’m proud to acknowledge the contributions Abbeville State Bank has made and to recognize it as a South Carolina Centennial Business.”

Abbeville First Bank, SSB was incorporated on June 18, 1907, but was organized under the name of Building and Loan Association of Abbeville. The assets at the time were only a few hundred dollars. The principal objective of the association was to encourage the common person to save money monthly for the primary purpose of building or buying a home. Deposits were made rigorously on a monthly basis by shareholders to help build enough funds for at least one of them to buy or build a home. Home ownership was rare and renting was predominant. Three years after its inception, 27 families in Abbeville called themselves homeowners because of membership in the Association. The institution later changed its name to Abbeville Savings and Loan and was touching the lives of virtually everyone in Abbeville County. Depositors had amassed funds for home building or purchase, college education, retirement and many other reasons.

“Abbeville First Bank was created for the sole purpose of serving the people of Abbeville.  Over the past hundred years we have touched thousands of lives in Abbeville by providing opportunities for a better future,” said Bank President Andy Timmerman.  “We are now positioning ourselves to better serve the community for the next hundred years.  We are working hard to bring the best and most secured services which are now centered in technology.  But we will never lose that personal touch that our customers love.  We are also bringing together the products and services needed by our local businesses.  We have all recognized that local business growth will be the catalyst for the future of Abbeville so we want to be ready to serve.”   
   
Secretary Hammond is recognizing centennial businesses for their many contributions to the state of South Carolina.  “These businesses serve a dual purpose of fostering growth and innovation while providing employment opportunities to the citizens of our state.  Businesses like Abbeville First Bank, SSB are the economic drivers of our society, and should be recognized for their long-lasting contributions.” 

Secretary Hammond will continue to publicly recognize centennial businesses located throughout the state and honor their contributions to South Carolina’s growing economy.   
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Contact: Renee S. Daggerhart
(803) 734-0629