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California Genealogy and History Archives

Biographies
of
Sacramento County

 

MONTFORT K. CROWELL

The conservative financial policy exercised by the banking institutions of Sacramento laid the foundation for all past prosperity as it will prove the stepping stone for all future growth. Perhaps no concern has been more cautious in avoidance of speculative investments or more sagacious in loans and certainly none has been more successful in the management of a growing business than has the Farmers & Mechanics Savings Bank, an institution that for almost a quarter of a century has contributed to the business interests of the community, encouraged the development of new industries, promoted the growth of old enterprises and fostered among its depositors a spirit of saving a portion of their incomes in order that the proverbial "rainy day" may not come upon them unawares. The cashier of this influential institution is a native Californian, devoted to the great west, loyal to the welfare of the commonwealth and particularly interested in the fair valley that lies tributary to the capital city. He matriculated in the University of California, class of 1906, and in June, 1910, became cashier of the Farmers & Mechanics Savings Bank.

The bank, whose growth is largely due to the executive ability of its officers, has had the good fortune to retain in the presidency George W. Peltier, who also acts as vice-president of the California National Bank of Sacramento. With characteristic energy and sagacious foresight the directors of the institution have decided to erect, at a cost of $250,000, a bank and office building on the corner of Oak avenue and Eighth street between J and K streets, a location admirably adapted for their purpose as well as for the general office uses to which it will be devoted. The structure will be equipped with every modern convenience and will contain every improvement which the architecture of the twentieth century can suggest. 


Source:
History of Sacramento County, California
Biographical Sketches of The Leading Men and Women of the County Who Have Been Identified With Its Growth and Development from the Early Days to the Present
History By: William L. Willis
Historic Record Company, Los Angeles, California (1913)

Transcribed by Peggy Hooper 2011