Andalusia National Bank, Andalusia, AL (Charter 11955)

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A recent photo of the old Andalusia National Bank ca2018.
A recent photo of the old Andalusia National Bank ca2018. Courtesy of Google Maps

Andalusia National Bank, Andalusia, AL (Chartered 1921 - Receivership 1932)

Town History

Andalusia is a city in and the county seat of Covington County, Alabama. In 1920, the population was 4,023, peaking in 1980 at 10,415. At the 2020 census, the population was 8,805.

Andalusia was first settled in 1841 after flooding of the Conecuh River and the surrounding lowlands forced citizens to move to higher ground. The county seat was moved from Montezuma to Andalusia in 1844. The new town was originally called "New Site" but was known as Andalusia by the time a post office was established in 1846.

Andalusia, likely got its name from Spanish explorers or settlers since the land where the town is located was part of Spanish Florida until Pinckney's Treaty in 1795. Andalusia was incorporated as a town in 1884.

Two historical bank buildings listed in the U.S. National Register of Historic Places may be found here. The First National Bank Building (also known as the Timmerman Building) is a historic high-rise in Andalusia, Alabama. The building was listed on the National Register of Historic Places in 1982. The Bank of Andalusia, at 28 S. Court Sq. in Andalusia, Alabama, was built in 1914. It was listed on the National Register of Historic Places in 1989.

Andalusia had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

  • Organized April 9, 1921
  • Chartered April 13, 1921
  • Conversion of The Bank of Andalusia
  • Absorbed 5970 May 30, 1932 (First National Bank, Andalusia, AL)
  • Receivership October 5, 1932

The directors and shareholders of the Andalusia Bank authorized the conversion to a national bank in April 1921.  On April 13, 1921, D.R. Crissinger, Comptroller of the Currency, authorized The Andalusia National Bank to commence the business of banking. The Andalusia National Bank officers were C.A. O'Neal, President; S.B. Milligan and E.L. More, Vice President; R.N. McLeod, Cashier; and F.H. Buck, Assistant Cashier.  Directors were C.A. O'Neal, S.B. Milligan, E.L. More, D.A. McArtan, A.R. Powell, Dr. J.C. Hill, and R.N. McLeod.

On October 4, 1932, The Andalusia National Bank which had recently consolidated with the First National Bank of Andalusia, failed to open.  The depression had caused poor collections and despite heroic efforts to save the bank, another even worse year, due to the unusually low cotton crop and even lower prices, caused it to fail.

Official Bank Title(s)

1: The Andalusia National Bank, Andalusia, AL

Bank Note Types Issued

1902 Plain Back $20 bank note with pen signatures of R.N. McLeod, Cashier and C.A. O'Neal, President.
1902 Plain Back $20 bank note with pen signatures of R.N. McLeod, Cashier and C.A. O'Neal, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note with printed signatures of D.E. Fletcher, Cashier and S.B. Milligan, President. This note is an example of a small size replacement note.
1929 Type 1 $20 bank note with printed signatures of D.E. Fletcher, Cashier and S.B. Milligan, President. This note is an example of a small size replacement note. Courtesy of Heritage Auctions, www.ha.com

A total of $2,145,400 in National Bank Notes was issued by this bank between 1921 and 1932. This consisted of a total of 268,820 notes (195,860 large size and 72,960 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Plain Back 4x5 1 - 29140
1902 Plain Back 3x10-20 1 - 19825
1929 Type 1 6x5 1 - 7349
1929 Type 1 6x10 1 - 3774
1929 Type 1 6x20 1 - 1037

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1921 - 1932):

Presidents:

Cashiers:

Other Bank Note Signers

  • S.B. Milligan signed notes as Vice President.
  • There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Andalusia, AL, 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://bbdata.banknotehistory.com
  • The Andalusia Star, Andalusia, AL, Fri., Apr. 15, 1921.
  • The Andalusia Star, Andalusia, AL, Tue., May 24, 1921.
  • The Opp Weekly News, Opp, AL, Thu., Oct. 6, 1932.