American National Bank, Pensacola, FL (Charter 5603)
American National Bank, Pensacola, FL (Chartered 1900 - Open past 1935)
Town History
Pensacola (/ˌpɛnsəˈkoʊlə/) is the westernmost city in the Florida Panhandle, and the county seat and only incorporated city of Escambia County, Florida. At the 2020 United States census, the population was 54,312. Pensacola is the principal city of the Pensacola Metropolitan Area, which had an estimated 502,629 residents in 2019.
Pensacola is the site of the first Spanish settlement within the borders of the continental United States in 1559, predating the establishment of St. Augustine by 6 years, although the settlement was abandoned due to a hurricane and not re-established until 1698. Pensacola is a seaport on Pensacola Bay, which is protected by the barrier island of Santa Rosa and connects to the Gulf of Mexico. A large United States Naval Air Station, the first in the United States, is located southwest of Pensacola near Warrington; it is the base of the Blue Angels flight demonstration team and the National Naval Aviation Museum. The main campus of the University of West Florida is situated north of the city center.
It is nicknamed "The City of Five Flags", due to the five governments that have ruled it during its history: the flags of Spain (Castile), France, Great Britain, the United States of America, and the Confederate States of America. Other nicknames include "World's Whitest Beaches" (due to the white sand of Florida panhandle beaches), "Cradle of Naval Aviation", "Western Gate to the Sunshine State", "America's First Settlement", "Emerald Coast", "Red Snapper Capital of the World", and "P-Cola".
Pensacola had five National Banks chartered during the Bank Note Era, and all five of those banks issued National Bank Notes.
Bank History
- Organized October 12, 1900
- Chartered October 22, 1900
- Opened for business October 23, 1900
- Receivership, September 2, 1914
- Restored to solvency November 30, 1914
- Assumed 10535 by consolidation July 31, 1917 (National Bank of Commerce, Pensacola, FL)
- Assumed circulation of 10535
- Bank was Open past 1935
- Purchased by the Alfred I. duPont estate, May 1944, with name change to Florida National Bank
At the turn of the century, just about the time Col. Teddy Roosevelt and his Rough Riders passed through Pensacola, a Dothan, Alabama, businessman, W.C. O'Neal, thought enough of Pensacola's future to believe a new bank would thrive there. Though there were already two established banks in the city, O'Neal began to hold a series of meetings with South Alabama and West Florida businessmen, many of them at the old Merchants Hotel where it was said O'Neal frequently toasted: "Champaign to our real friends, real pain to our sham friends." On Oct. 23, 1900, the new bank called the American National opened its doors in the Old Opera House at Government and Jefferson Streets with a capital stock of $200,000, the largest of any bank in the state of Florida. O'Neal was president; S.J. Foshee was vice president; A.M. Moses, a naval stores businessman, was cashier; Frank C. Horton, already well-known as a banker in Mobile, Alabama, was assistant cashier. Among the clerical workers was a young Pensacolian named Joseph Quina who would serve the bank 54 years. Another young man who was to serve a half a century was James W. Andrews. Both Andrews and Quina eventually retired as vice presidents. They remained residents of Pensacola and in 1964 were special guests at Open House ceremonies for the new four-story Florida National Bank building. The bank's founders believed strongly in the value of advertising and before long, newspapers, calendars, and novelties were telling Pensacolians about a new and friendly bank. And it paid off. Before the decade was out, a modern 10-story building was erected on the corner of Palafox and Government Streets and at that time was the tallest bank in Florida.
In February 1908, the officers of the American National were Chas. W. Lamar, president; M.E. Clark, vice president and cashier; Jno. Pfeiffer and J.W. Andrews, assistant cashiers. The bank was located in the Opera House Building. After the old quarters of the bank had been enlarged several times, the limit of physical grown was finally reached and the bank began to consider the purchase of a site. The result was the acquiring of the old Citizens' Bank corner. The erection of a steel-framed, modern, fire-proof office building was decided upon and the actual work was begun in the fall of 1908. The bank would occupy almost the whole of the ground floor. The office of President Charles W. Lamar was just inside the main entrance on the right. The office was elegantly finished in Mahogany throughout, the inlaid decorative work being brought out effectively. From this office, one could see all who passed through the main or elevator entrances to the bank. The office of vice president and cashier adjoined that of the president. This office was finished in marble to conform with the fixtures of the bank. A private room just adjoining furnished space for the stenographer's desk which also opened into the president's office. A special entrance and corridor at the extreme left of the banking room led to the safety deposit vaults. There were nearly 400 compartments for rent. Handsomely appointed booths for the use of customers were arranged with convenient access to the vaults. The accounting department occupied the space just behind the teller's cages and being next to the street, the bookkeepers had plenty of natural light. The bank was one of the earliest users of the Burroughs adding machine, known as the "Arithometer." The directors' room was located on the mezzanine floor. The mahogany chairs and table were quite impressive in their richness and the heavy brussels rug added a touch of elegance. This room had a wrought brass chandelier and daylight was admitted through skylights of art glass.
Mr. Lamar, the president was a native Georgian, having resigned the cashiership of the Citizens' Bank of Valdosta to become vice president of the American National, later being elected president. He was identified with many of the leading business enterprises of Pensacola and was vice president of the Osceola Club. Mr. Clark, vice president and cashier was also a Georgian and had been connected with the bank since it was organized. At first teller, then assistant cashier, then cashier and finally vice president, he possessed an exceptional ability as a banker. John Pfeiffer and James W. Andrews, assistant cashiers, were both native Pensacolans. Mr. Pfeiffer held the position of first teller and as such came in frequent contact with the customers of the bank. By his uniform courtesy and thoroughness as teller, he won many staunch friends for the bank. Mr. Andrews, the junior officer was with the bank practically since it was first organized. He was chief of the clerical department and the advertising manager.
On September 1, 1914, after a run lasting about an hour caused by sensational reports, the American National Bank closed its doors. Following the closing, the streets were crowded for several hours. Officers of the institution refused to make any statement. The capital of the bank was $300,000, surplus $35,000 and the deposits were $1,715,000. On January 1st, loans and discounts totaled $2,000,000. It had only been a few months since the First National Bank of Pensacola closed its doors. It was speculated that the cause was the enforced cessation of the shipment of naval stores occasioned by the European war. There was normally a large export of commodities from the port and cessation must necessarily have had a marked adverse effect upon the financial business of the city. Depositors were asked to agreed to a plan to re-open the bank under its present corporate charter by consenting to accept four negotiable time certificates issued by the American Announced equal to their deposits, payable in quarterly installments in 3, 6, 9 and 12 months from the date of issue without interest. The plan was subject to approval by the Comptroller of the Currency.
On November 18, 1914, ex-Senator W.H. Milton, the American National Bank's receiver, announced its reopening within a week or ten days. J.G. Pace and Morris Bear would be president and vice president, respectively of the reorganized bank. All three would go to New York to get acquainted with the bank's correspondent and other financiers there.
On August 31, 1917, the comptroller of the currency approved the liquidation of the National Bank of Commerce of Pensacola and its consolidation with the American National Bank of Pensacola, with capital of $300,000. J.S. Leonard of Pensacola was named by the treasury department as the liquidation agent.
In February 1920, the officers were E.R. Malone, president; Morris Bear, vice president; C.W. Lamar, cashier; J.W. Andrews, J.S. Leonard, and J.F. Quina, assistant cashiers. The bank had capital of $500,000 and surplus of $100,000.
The American National Bank of Pensacola issues a condensed statement of its condition in a folder that is unique. "Under Five Flags" is the title on the folder. The frontispiece contains a picture, in color, of the five flags, grouped together the Spanish, French, British, battle flag of the Confederacy, and the flag of the United States. Pensacola is one of our gulf coast cities whose background is enriched by the traditions of numerous nationalities. This American National Bank, incidentally, has resources, far in excess of $6,000,000. It is a Malone bank. Its president is Edward R. Malone and one of its vice presidents is John W. Malone, its other officers being Morris Bear, vice president; W.B. Harrison, vice president; C.W. Lamar, vice president; J.W. Andrews, cashier, and J.F. Quina, assistant cashier. The two Malones are members of the well-known Dothan family of the same name. They made their start in finance and business in Dothan before removing to Pensacola. The Malones, headed by George H. Malone of Dothan, have played a noteworthy part in the development of Southeast Alabama. All of them are able and successful business men. They are merchants, manufacturers and bankers. Edward and John Malone, who have made the family name famous in West Florida, seem to have specialized in banking. The Montgomery Advertiser, Jan. 1928
In January 1938, officers and directors elected at the annual meeting of the American National Bank of Pensacola were as follows: E.R. Malone, president; J.W. Malone, and C.W. Lamar, vice presidents; J.W. Andrews, cashier; J.F. Quina and O.M. Brown, assistant cashiers; and J.W. Andrews, Joseph Eros, L.C. Hagler, W.W. Harbeson, R. Leon Jones, C.W. Lamar, Joseph M. Levy, E.R. Malone, J.W. Malone, W.D. Malone, R.G. Martin, Samuel Pasco, and C.A. Weis, directors. The election of Brown as an assistant cashier was the only change.
In 1944, the duPont Estate bought the bank and changed its name to Florida National Bank. Roger L. Main of Jacksonville was elected vice president and a member of the board of directors of the American National Bank. Edward Ball, trustee of the Alfred I. duPont estate which recently purchased controlling interest in the bank, attended the meeting and announced Main's election, saying that no other changes or additions were made. Main was treasurer of the St. Joe Paper company, the $10,000,000 Dupont plant. Ball, previous to his leaving Pensacola said: "E.R. Malone has built up a fine bank in Pensacola. It has been a benefit to the community in good times and bad times. We are trying to maintain his high standards in order that the bank may continue to serve this area efficiently and helpfully." Negotiations were completed for sale of the controlling interest in the American National Bank on May 11 and the sale was announced May 12 by E.R. Malone, president of the bank. The sale was said to have amounted to more than $500,000, representing about 2,500 of the 4,000 shares issued. Malone had been president for 27 years, and a resident of Pensacola for 30 years. Included in the sale was the 10-story bank building, housing 60 offices in addition to the bank itself on the ground floor. The bank employed 56 officers and employees, including Malone, president; John W. Malone, vice president; James W. Andrews, cashier; Joseph F. Quina, Dudley C. Brewton and Joseph B. Skinner, assistant cashiers. Directors were E.R. Malone, J.W. Malone, J.W. Andrews. C.A. Weis, William Fisher, Harry A. Lurton, R. Leon Jones of Walnut Hill, R.G. Martin, W.W. Harbeson and Joseph M. Levy. Main was added as a member of this group. On April 13, 1944, the American listed its resources at $19,226,418.33.
Official Bank Title(s)
1: The American National Bank of Pensacola, FL
Bank Note Types Issued
A total of $9,595,240 in National Bank Notes was issued by this bank between 1900 and 1935. This consisted of a total of 930,761 notes (712,256 large size and 218,505 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1882 Brown Back 4x5 1 - 11880 1882 Brown Back 4x10 1 - 3375 1882 Brown Back 3x10-20 1 - 6148 1882 Date Back 4x5 1 - 20250 1882 Date Back 4x10 1 - 34542 1882 Date Back 3x10-20 1 - 400 1882 Value Back 4x5 20251 - 41708 1902 Plain Back 3x10-20 1 - 80011 1929 Type 1 6x10 1 - 23430 1929 Type 1 6x20 1 - 6330 1929 Type 2 10 1 - 28545 1929 Type 2 20 1 - 11400
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1900 - 1935):
Presidents:
- William Calvin O'Neal, 1901-1903
- Henry Lily Covington, 1904-1905
- Charles Wilbur Lamar, 1906-1914
- James Gustafus Pace, 1915-1915
- Edgar Robert Malone, 1916-1916
- John Wallace Malone, 1917-1917
- Edgar Robert Malone, 1918-1935
Cashiers:
- Frank Coleman Horton, 1901-1902
- Milton Edmund Clark, 1903-1914
- James William Andrews, 1915-1915
- Charles Wilbur Lamar, 1916-1925
- James William Andrews, 1926-1935
Other Known Bank Note Signers
Bank Note History Links
Sources
- Pensacola, FL, on Wikipedia
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- Detroit Publishing Co., Publisher. American National Bank, Pensacola, Fla. [Between 1905 and 1915] Photograph. Retrieved from the Library of Congress.
- The Bankers' Magazine, Vol. 80, Jan. 1910 - June 1910, pp 157-164.
- Pensacola News Journal, Pensacola, FL, Wed., Feb. 12, 1908.
- The Miami News, Miami, FL, Tue., Sep. 1, 1914.
- The Tampa Times, Tampa, FL, Tue., Sep. 8, 1914.
- Pensacola News Journal, Pensacola, FL, Sat., Sep. 5, 1914.
- Pensacola News Journal, Pensacola, FL, Thu., Nov. 19, 1914.
- Pensacola News Journal, Pensacola, FL, Sat., Sep. 1, 1917.
- Pensacola News Journal, Pensacola, FL, Sun., Feb. 29, 1920.
- The Dothan Eagle, Dothan, AL, Tue., Jan. 10, 1928.
- Pensacola News Journal, Pensacola, FL, Thu., Jan. 13, 1938.
- Pensacola News Journal, Pensacola, FL, Thu., May 25, 1944.
- Pensacola News Journal, Pensacola, FL, Sun., May 3, 1964.