South Carolina H 5615: Kingstree Federal Savings and Loan

Bill Text

2025-2026 Bill 5615 Text of Previous Version (Apr. 29, 2026) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 5615

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A house RESOLUTION

to congratulate Kingstree Federal Savings and Loan 
on the celebration of one hundred years of service to Kingstree and 
Williamsburg County and to extend best wishes for continued success in the 
years ahead.

Whereas, Kingstree 
Federal Savings and Loan was founded in March of 1926, when a group of 
Kingstree business leaders, headed by Mr. W.H. Welch, saw a need to provide a 
means for the members of their community to buy homes for their families and to 
save their hard-earned money in a safe place; and

Whereas, records indicate 
that an earlier for-profit Kingstree Building and Loan had operated in the 
community but failed in 1925 following the collapse of the Bank of Williamsburg, 
which resulted in the loss of all of its deposits, including those of Kingstree 
Building and Loan; and

Whereas, determined 
that the new institution's profits should be reinvested locally, Kingstree 
business leaders established a mutual structure in which depositors would be 
the owners and in March 1926, they secured commitments from forty citizens 
totaling fifty thousand dollars, thereby forming Mutual Building and Loan. On 
April 1, 1926, the State of South Carolina granted a charter to Mutual Building 
and Loan with President Thomas McCutchen, Vice President E.E. King, Secretary 
and Treasurer W.H. Welch, Director and Attorney J.D. O'Bryan, and Directors 
A.F. McIntosh, J.P. Gamble Jr., S.B. McGill, J.F. Scott, and Donald Montgomery; 
and

Whereas, Mutual 
Building and Loan experienced steady growth and remained stable even during the 
Great Depression, when many financial institutions failed. In 1938, the state 
charter was converted to a federal charter, and the institution was renamed 
Kingstree Federal Savings and Loan; and 

Whereas, Kingstree 
Federal Savings and Loan was first located on Academy Street adjacent to 
present-day Kingstree Insurance Agency, and in the early 1970s, after fifty 
years of service, relocated to the corner of Mill and Academy Streets where 
they are still located today; and 

Whereas, since its founding 
in 1926, Kingstree Savings and Loan has endured through seventeen United States 
presidencies, fifteen economic recessions, including the Great Depression, the 
Great Recession, and the COVID-19 recession, and twelve major wars, as well as 
numerous smaller conflicts; and 

Whereas, for more than 
one hundred years, Kingstree Federal Savings and Loan has remained steadfast in 
its founding mission of providing home financing and secure, reliable savings 
opportunities, proudly serving the citizens of Kingstree and Williamsburg County 
while continuing to grow and expand opportunities; and

Whereas, in September 
2025, Kingstree Federal Savings and Loan appointed local resident Conrad 
Kellahan as president and Chief Executive Officer in recognition of his 
extensive knowledge of both the community and the banking industry; and 

Whereas, the members of 
the South Carolina House of Representatives are thankful to Kingstree Federal 
Savings and Loan for the century of service and dedication that they have shown 
to the community of Kingstree and Williamsburg County and extend best wishes 
for the next one hundred years. Now, therefore,

Be it resolved by the House of Representatives:

That the members of the 
South Carolina House of Representatives, 
by this resolution, congratulate Kingstree Federal Savings and Loan on the 
celebration of one hundred years of service to Kingstree and Williamsburg 
County and extend best wishes for continued success in the years ahead.

Be it further resolved 
that a copy of this resolution be presented to president and chief executive 
officer of Kingstree Federal Savings and Loan, Conrad Kellahan.

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This web page was last updated on April 29, 2026 at 11:42 AM