Alvin Edward Potter, (Sr.) (Nashville, TN)

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Alvin E. Potter (date unknown)

Alvin Edward Potter, (Sr.) (March 15, 1871 – March 8, 1930)

Biography

  • Name: Alvin Edward Potter, (Sr.)
  • Birth: March 15, 1871 Smithville, TN
  • Death: March 8, 1930 Nashville, TN
  • Spouse: Effie Irene (Smith) Potter (1874-1958) (Married 1893)
  • Brother of banker Clarence C. Potter, Sr.

Alvin Edward Potter, Sr. was born March 15, 1871, in Smithville, Tennessee to William C. and Helen (Avant) Potter. William was a prominent resident of Smithville, as he owned a roller mill and organized a local state bank. Alvin no doubt benefited early in his life from his family's wealth. Alvin attended local Smithville schools and graduated from the University of Tennessee in Knoxville. The earliest employment found was as deputy County Clerk of Dekalb County, Tennessee, in an 1889 newspaper article about him losing a book with $15 cash and $150 in bonds. No doubt a good lesson to learn for an 18 year old young man.

By 1891 he was a bookkeeper for the South Chattanooga Savings Bank, and he was promoted to assistant cashier there the following year. In 1893 he moved back to Smithville and on June 1, 1893, he married Miss Effie Irene Smith. They then set off on their honeymoon and attended the 1893 Columbian Exposition in Chicago. When they returned, they moved to Watertown, Tennessee and Alvin opened a drug store. In 1902, Alvin moved his family to Liberty, Tennessee and organized the Liberty Bank, which opened in November of that year. Liberty was then a town of around 300 citizens, so it's difficult to know if the bank was successful, but by 1905 some bigger opportunities came along.

In August, 1905, a state charter was issued for the American Medicine Company in Nashville. This was a drug manufacturing concern with Alvin as one of the principles. Alvin was involved in the wholesale peanut business in 1906. In early 1906, merchants along lower Broadway Street in Nashville, began to ask for a bank to be located there, as the other banks were all north, in the downtown Nashville locale. Alvin helped to organize this new bank and on May 13, 1906, a state charter was issued. The Broadway Bank & Trust Company opened on July 5, 1906, with Alvin elected Cashier. The bank prospered quickly and the need for more capitalization was felt by the Directors. The decision to turn the bank into a National bank was made, and on June 8, 1910, it received charter 9774, and opened as the Broadway National Bank of Nashville, and again Alvin was elected Cashier.

On May 27, 1912 Alvin was elected President of Broadway National Bank, a position he held until his death. He hired his son, Alvin Edward Potter, Jr., in 1913, and by 1916 Edward wanted a bank of his own. Alvin helped Edward organize the German-American Bank of Nashville and it opened on July 3, 1916 with Alvin as President and Edward as Cashier. This bank was renamed the Commerce Union Bank of Nashville a few years later, and was an extremely successful bank.

In May, 1919, Alvin helped organize the Southland Coal Company and served as a Director. He was also elected President of the Board of Transportation Trustees of Nashville. He enjoyed golfing as a hobby and was a member of both the Belle Meade Country Club and the Richland Golf Club. On September 19, 1929, Broadway National Bank and Commerce Union Bank were joined under a corporate umbrella, with Alvin the President and Edward the 1st Vice-President. Both banks remained open and separate.

Alvin began to have heart problems in the late 1920's. He completed his last will & testament on December 15, 1928. His physicians told him he could have a fatal attack at any moment, and on March 8, 1930, at the age of 58, he suffered a fatal heart attack while at home with his wife. Alvin was buried in Mt. Olivet Cemetery, in Nashville.

Bank Officer Summary

During his banking career, A. E. Potter was involved with the following bank(s):


$5 Series 1902 Date Back bank note with pen signatures of A.E. Potter, Cashier and J.H. Bradford, Vice President.
$10 Series 1929 Type 1 bank note with printed signatures of D.Y. Proctor, Cashier and A.E. Potter, President


References

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