South Carolina S 1116: Dare to be BRAVE Day Naming

Bill Text

2025-2026 Bill 1116 Text of Previous Version (Apr. 14, 2026) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 1116

Indicates Matter Stricken
Indicates New Matter

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

A senate RESOLUTION

TO RECOGNIZE AND HONOR Kingstree Federal Savings and 
Loan upon the occasion of its one hundredth anniversary AND TO commend it for a 
century of BUSINESS in south carolina.

Whereas, the members of 
the South Carolina Senate are pleased to recognize Kingstree Federal Savings 
and Loan upon its one hundredth anniversary; and

Whereas, in early 1926, 
a group of Kingstree business leaders, headed by Mr. W. H. Welch, saw a need to 
provide a safe place for local citizens to save their hard-earned money and means 
to help them buy homes for their families; and

Whereas, records show 
that a for-profit Kingstree Building and Loan had operated in Kingstree earlier 
but failed in 1925, when the Bank of Williamsburg failed and lost all its 
deposits, including those of Kingstree Building and Loan; and

Whereas, since these 
leaders wanted the new building and loan profits reinvested in the community, 
they decided that the depositors would be the owners. In March 1926, they 
secured commitments from forty local citizens totaling fifty thousand dollars 
(equivalent to nine hundred thousand dollars in the present day), forming 
Mutual Building and Loan; and

Whereas, on April 1, 
1926, the State of South Carolina granted a charter to Mutual Building and 
Loan. With capital of fifty thousand dollars and officers President Thomas 
McCutchen, Vice-President E.E. King, secretary and treasurer W. H. Welch, directors 
A. F. McIntosh, J. P. Gamble Jr., S. B. McGill, J. F. Scott, and Donald 
Montgomery, and director and attorney J. D. O'Bryan, Mutual Building and Loan 
began serving the Kingstree community; and

Whereas, the Mutual 
Building and Loan continued to grow and was stable even during the Great 
Depression, a time when many banks failed. In 1938, the state charter was 
converted to a federal charter, and the name was also changed to reflect the 
new charter; and

Whereas, Kingstree 
Federal Savings and Loan was first located on Academy Street next to the 
present-day Kingstree Insurance Agency. After the first fifty years, Kingstree 
Federal Savings and Loan moved to the corner of Mill and Academy Streets in the 
early 1970s, where it is still located today; and

Whereas, since March 
1926, when Kingstree Federal was founded, there have been seventeen different presidents 
of the United States, fifteen economic recessions including the Great 
Depression, the Great Recession, and the COVID-19 recession, as well as twelve major 
wars and numerous smaller conflicts; and

Whereas, because 
Kingstree Federal Savings and Loan has maintained the founding core principles 
of providing home financing and strong, stable savings accounts, it has weathered 
all these storms and continues to grow with open doors; and

Whereas, Kingstree 
Federal Savings and Loan appointed local resident Conrad Kellahan as the president 
and CEO in September 2025. With his wealth of knowledge of the Kingstree 
community and the banking industry, the next hundred years look even brighter; 
and

Whereas, the members of 
the South Carolina Senate greatly appreciate the dedication and commitment that 
Kingstree Federal Savings and Loan has shown in serving the people and the 
State of South Carolina. Now, therefore,

Be it resolved by the Senate:

That the members of the 
South Carolina Senate, by this resolution, 
recognize and honor Kingstree Federal Savings and Loan upon the occasion of its 
one hundredth anniversary and commend it for a century of business in South 
Carolina.

Be it further resolved 
that a copy of this resolution be presented to the 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 14, 2026 at 12:39 PM