March 22, 1892, a citizens meeting was held at the Jasper
County Courthouse, Monticello, Georgia, to issue stock
at $100.00 per share to establish Bank of Monticello.
The Jackson Banking Company was custodian for the funds.
Operations began in a storeroom rented from M. S. and
L. O. Benton. A lot was offered by James Lewis, and
in 1893, the stockholders met in the new bank building
(now Tyler's Barber Shop) to elect officers and adopt
bylaws. Lights were left on the vault at night to be
visible by the Marshall or night watchman. Overdrafts
were deducted from the cashier's salary unless approved
by the board. The only bank in the county, Bank of Monticello
became a state depository in 1894.
1892, J. H. Kelly was elected vice president and director.
His great-grandson, Don B. Kelly, is the current chairman
of the board. M. S. Benton served as the first cashier
and was elected director in 1896. His grandson, L. W.
Benton, currently serves on the board, along with his
great-grandson, L.W. Benton, Jr. Taney O. Benton, son
of M. S. Benton, was elected assistant cashier and director
In 1897, a group which wanted to organize another bank
in Monticello was asked to join Bank of Monticello and
increase the stock. However, in 1909, First National
Bank of Monticello was established with $50,000.00 capital.
Bank of Monticello liquidated and sold its property,
building, furniture and fixtures to First National Bank
of Monticello for $3,435.50.
H. Kelly, M. S. Benton and Taney O. Benton were among
the directors elected to the First National Bank board.
In additional, E. Clyde Kelly, son of J. H. Kelly, and
Dan Gunn, grandfather of current board member W. Dan
Roberts, also served as directors. Officers elected
included L. O. Benton, president; J. H. Kelly, chairman;
E. Clyde Kelly, cashier; and Taney O. Benton, assistant
In 1910, the bank purchased the "stone" building
corner of the square for $5,750.00 from L. O. Benton
and Brother and sold the old bank facility to Dan Gunn
for $500.00. J. N. Walker was elected to the board in
1945. His grandson, Steve W. Jordan, now serves as the
current president of the bank
1963, First National Bank of Monticello purchased the
Hutchinson lot on Green Street and constructed a new
banking facility. The exterior of the building was modeled
after Thomas Jefferson's Monticello home.
On February 10, 1964, the bank converted from a national
bank to a state bank and changed its name to Bank of
Monticello. In 1996, Monticello BancShares was organized
as a holding company for the bank and stock was reissued.
1996, the Warren Building and the service station lot
facing Washington Street were purchased for a new drive-in
facility. In addition, the building on Green Street
Bank of Monticello continues to grow with dedicated
employees and management. It is a locally owned and
operated hometown bank. Our loyal customers deserve
the excellent service, up-to-date technology and convenience
that we strive to provide. We support community events
which help to develop our community socially, economically