Carroll County Trust Company is a small town community bank established in 1919.
When the Carroll County Trust Company was formed, the banks of Carrollton were family owned entities. The original Board of Directors and founders of the Carroll County Trust Company were comprised of local farmers and businessmen who wanted to start an institution owned by public stockholders.
The original Board of Directors were: R.H. Monier, C.G. Bowers, L.G. Clark, C.R. Rogers, W.H. Trenchard, W.D. Pinney, Joel Stamm, Earl Johnson, Maj. E. Stipp, Henry Hartman, O.J. Lierley, and T.J. Sugg.
In 1920, Alma Scharfenberg became the first female employee at Carroll County Trust Company; Alma’s daughter Lucille Moeller Staton also worked for the bank for 37 years.
Some of the original Board of Directors started The Farmers Merchants Bank of Hale in 1923.
In 1934, Carroll County Trust Company purchased the assets of The Banking House of Wilcoxson and Co.
In 1937, Carroll County Trust Company purchased the assets of The Carroll Exchange Bank, which became insolvent during The Great Depression. It was once located at the North East corner of the square in Carrollton.
In 1986, Carroll County Trust Company formed the holding company, Carroll County Bancshares.
In 2008, Carroll County Bancshares purchased assets of Farmers & Merchants Bank of Hale, in Hale, Missouri and merged those assets with Carroll County Trust Company which because the bank’s first branch.
In 2022, Carroll County Trust Company opened a third branch on Highway 65.
Since the Carroll County Trust Company was started, it has been served by 11 different presidents; C.G. Bowers, J.W. Higginbottom, George McDonald, Martin J. Schmidt, Dr. R.W. Cowherd, Ralph T. Haynes, Marvin J. Flick, Cliff Cowherd, Larry G Freeman, Kevin Brown, and Benjamin G. Polen.
One descendant of the original Board of Directors was recently a board member with the Trust Company. Keith Long- Great Grandson of L.G. Clark, who was the original Vice-President of Carroll County Trust Company.