The Bank of Salem was founded, with W.R. Love as the first president. The bank’s first authorized capital was $13,000.00. (Photo of W.R. Love) Read More. June 22, 2009October 10, 2021 October 10, 1883 The Great Depression 1946 1966 1982 June 22, 2009 October 10, 2021 October 10, 1883 The Great Depression.

