CAPITAL FACTORS HOLDINGS INC history

The postwar recession of 1921 did not affect the company's growing prosperity, which continued during the rest of the decade.

Johnson's death in 1936 touched off a power struggle on the board of directors that ended in the election of Homer Ward Batson as the company's next president.

In 1952, it developed a new concept in life insurance that enabled policyholders to pay their premiums through regular automatic withdrawals from their checking accounts.

In 1958, Boyd became chairman and was succeeded as president and chief executive by William H. Abell, who had previously served the company as general counsel and a member of the board.

The companies joined forces on October 31, 1963, under the Commonwealth banner.

The company offers health, life, property, and casualty insurance through a combination of personal sales and direct marketing and also provides consumer banking and investment services. It was restructured under the present name in 1969 in order to make it easier for the firm to grow through the acquisition of other companies.

Thomas C. Simons, who was hired away from another insurance company to become the company's chief executive officer in 1978, set out to make major changes in Commonwealth's marketing strategy.

However, by 1986, this venture still had not shown a profit and Capital terminated the project.

In 1987, as it strengthened its hold on the moderate-income segment of the marketplace, the company sold its Georgia International Life Insurance Company subsidiary, which focused primarily on higher-income households.

Simons died in August 1988 and was succeeded as chairman and chief executive officer of Capital Holding by Irving W. Bailey II. He had been with the company for ten years and had most recently served as president and chief operating officer.