Kingstree Federal Savings and Loan

2025-2026 Bill 5615: Kingstree Federal Savings and Loan - South Carolina Legislature Online

South Carolina General Assembly
126th Session, 2025-2026
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H. 5615
STATUS INFORMATION
House Resolution
Sponsors: Reps. Kirby, Alexander, Anderson, Atkinson, Bailey, Ballentine, Bamberg, Bannister, Bauer, Beach, Bernstein, Bowers, Bradley, Brewer, Brittain, Burns, Bustos, Calhoon, Caskey, Chapman, Chumley, Clyburn, Cobb-Hunter, Collins, Cox, Crawford, Cromer, Davis, Dillard, Duncan, Edgerton, Erickson, Ford, Forrest, Frank, Gagnon, Garvin, Gatch, Gibson, Gilliam, Gilliard, Gilreath, Govan, Grant, Guest, Guffey, Haddon, Hager, Hardee, Harris, Hart, Hartnett, Hartz, Hayes, Henderson-Myers, Herbkersman, Hewitt, Hiott, Hixon, Holman, Hosey, Howard, Huff, J.E. Johnson, J.L. Johnson, Jones, Jordan, Kilmartin, King, Landing, Lastinger, Lawson, Ligon, Long, Lowe, Luck, Magnuson, Martin, McCabe, McCravy, McDaniel, McGinnis, C. Mitchell, D. Mitchell, Montgomery, J. Moore, T. Moore, Morgan, Moss, Neese, B. Newton, W. Newton, Oremus, Pace, Pedalino, Pope, Rankin, Reese, Rivers, Robbins, Rose, Rutherford, Sanders, Schuessler, Scott, Sessions, G.M. Smith, M.M. Smith, Spann-Wilder, Stavrinakis, Taylor, Teeple, Terribile, Vaughan, Waters, Weeks, Wetmore, White, Whitmire, Wickensimer, Williams, Willis, Wooten and Yow
Document Path: LC-0428HDB-EB26.docx
Introduced in the House on April 29, 2026
Adopted by the House on April 29, 2026
Summary: Kingstree Federal Savings and Loan
HISTORY OF LEGISLATIVE ACTIONS

Date

Body

Action Description with journal page number

4/29/2026

House

Introduced and adopted (
House Journal-page 13
)

View the latest
legislative information
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VERSIONS OF THIS BILL
04/29/2026

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.

W
hereas, 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

W
hereas, 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

W
hereas, 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

W
hereas, 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

W
hereas, 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

W
hereas, 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

W
hereas, 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

W
hereas, 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

W
hereas, 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,

B
e it resolved by the
House of Representatives
:

T
hat 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.

B
e 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