Iola's only bank cites lack of growth in closure

Full story: Theeagle.com

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

Lovelady, TX

" 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

Whitney, TX

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

Whitney, TX

The town is dying, but, we're going to have a first class football field, WTG Iola!

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