The Bank of Wedowee was founded on February 6, 1906, by Dr. J. C. Swann, with $25,000 in capital stock. Dr. Swann was elected its first president, at a salary of $500 per year. Two years later, his salary was raised to $750. He was the bank's president for the next 45 years, until his death in February, 1951.
Over the years, the bank gradually outgrew this facility and, in 1989, moved into a new building situated on the homeplace of the bank's founder, Dr. J. C. Swann. The present building, an architectural masterpiece, is situated one block west of the courthouse on Highway 48.
The Bank of Wedowee also operates branches in Woodland, on Highway 48, and in Roanoke, on Highway 431. The Woodland Branch opened in 1972, with Crouch Rampy as Branch Manager. The Roanoke Branch opened in 1997, with Tommy Holmes as Branch Manager. In 1999, the bank established its first 24-hour ATM, located at the Main Office in Wedowee.
At the annual shareholders' meeting in January of 2002, approval was given by the shareholders to split the stock on a 10-for-1 basis, and to organize the bank as a one-bank holding company, with the Bank of Wedowee being a wholly-owned subsidiary. The Federal Reserve Board gave its blessing to the transaction later in the year and, on October 1, 2002, the formation of Swann BancShares, Inc. was completed. The name was chosen to memorialize the founder of the bank, Dr. J. C. Swann.
111 West Broad St.
P.O. Box 207
Wedowee, AL 36278
Tel: (256) 357-2132
Fax: (256) 357-2135
24 Hour ATM
