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Putnam County Bank was chartered on October 25, 1901. Its first Directors were:
A. L. Corbly
W. D. Hodges
T. M. Shank
J. C. Henderson
W. H. McCallister
R. V. Dorsey
W. P. McAboy
J. T. Garrett
Edgar Carver
The Bank's first President was W. H. McCallister.
The Main Bank facility was originally established on Putnam Avenue, across the railroad tracks from today's existing Main Bank. The move from the Putnam Avenue to the existing Main Bank at 2761 Main Street took place in 1922. Major renovations of this facility took place in 1959 and 1975.
 In 1909, an 18 year-old man by the name of Louis Locke Wilson from Radford, Virginia began his banking career at the Putnam County Bank. Nine years later, his career path changed as he, his wife (Lillian Dorsey Wilson, daughter of R. V. Dorsey) and daughter, Mary Catherine moved to Huntington where he would work as Assistant Cashier at the Day and Night Bank and also as an underwriter for the Reliance Life Insurance Company. In 1933, the Wilsons would return to Hurricane and Louis would return to the Putnam County Bank as Cashier. In 1942, Louis Locke Wilson (known as L. L. or "Shorty") would become President and Chairman of the Board of Putnam County Bank. Louis served the Bank with distinction and great admiration of those in the local community as well as the banking community. He served in the tough times of a post-Depression era as well as a building expansion made possible through the growth of Huntington and Charleston. He was a friend to many diverse people in the community and was active in civic activities as well. Louis served the Bank until his death in 1985 at the age of 94.
 In 1952, the son of Louis, John R. Wilson (known as J. R. or "Jack") would begin his career at the Putnam County Bank. Jack was educated in the local schools as well as Greenbrier Military School, Marshall and Stetson Universities. Jack rose through the ranks and in 1961 was named to the Board of Directors. In 1980, Jack was elected President of Putnam County Bank, succeeding his father. During his career, he has seen the evolution of the banking industry through changes including advances in data processing, deregulation of interest rates and changes in banking law which allowed branching and interstate expansion and prompting many mergers and acquisitions in the 1980's.
 In 1985, John R. Wilson, Jr. (Jack's son) joined the Bank. John is a graduate of Milton High School, Marshall University and the Graduate School of Banking at the University of Wisconsin-Madison. Prior to joining the Bank, John was employed by the Office of the Comptroller of the Currency as a bank examiner.
In 1985, Putnam Bancshares, Inc. was formed as a one-bank holding company. Its only subsidiary was Putnam County Bank. Shareholders of Putnam County Bank exchanged their shares for equivalent value in Putnam Bancshares, Inc. Jack was named President, Chief Executive Officer and Chairman of the Board of Putnam Bancshares, Inc.
The mid-1980's also saw the Bank's entrance into automated teller machines and connecting branches by computers. In 1985, the Interstate Office was opened as a full service branch at 300 Hurricane Creek Road near the Hurricane exit of Interstate 64 with a 24-hour automated teller machine. In 1992, the Valley Office opened as a full service branch at 3058 Mount Vernon Road near the Winfield exit of Interstate 64. As the Bank entered the 1990's, greater emphasis on computerization and speed was placed. In 1998, Putnam County Bank chose Computer Services, Inc. (CSI) of Paducah, Kentucky to be its technological partner and to provide processing services to the Bank. This partnership has been highly beneficial to the Bank in bringing the latest technology with speed and safety. CSI also helps to keep the Bank competitive through efficiencies gained through advanced technology and knowledge gleaned from over 500 banking clients.
In 2003, Putnam County Bank opened its new Loan Center at 2759 Main Street in Hurricane, which was the former Clark's Five and Dime Store. The facility includes offices for loan officers as well as a spacious area for loan operations. This facility improves the ability of loan officers to speak more privately with customers about financial transactions.
Putnam County Bank's success has paralleled the growth of Putnam County and continues to provide banking services at a reasonable cost. The Bank is proud of its role in the development of Putnam County and its investments in community activities. The Bank has been publicly recognized by the Putnam County Commission, the Putnam County Development Authority, the Putnam County Chamber of Commerce and the Putnam County Board of Education for its work in the community.
In 2006, Putnam County Bank employed 75 full and part-time employees and had total assets of over $450 million. The State Journal's Book of Lists 2006 shows the Putnam County Bank ranked ninth in terms of total deposits and market share in the State of West Virginia.
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