Atlanta National Bank/Atlanta and Lowry NB/First NB, Atlanta, GA (Charter 1559)
Atlanta National Bank/Atlanta and Lowry NB/First NB, Atlanta, GA (Chartered 1865 - Open past 1935)
Town History
Atlanta is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, although a portion of the city extends into neighboring DeKalb County. With a population of 498,715 living within the city limits, it is the eighth most populous city in the Southeast and 38th most populous city in the United States according to the 2020 U.S. census. The population in 1860 was 9,554, growing to 270,366 by 1930.
In 1836, the Georgia General Assembly voted to build the Western and Atlantic Railroad in order to provide a link between the port of Savannah and the Midwest. The initial route was to run southward from Chattanooga to a terminus east of the Chattahoochee River, which would be linked to Savannah. After engineers surveyed various possible locations for the terminus, the "zero milepost" was driven into the ground in what is now Foundry Street, Five Points. When asked in 1837 about the future of the little village, Stephen Harriman Long, the railroad's chief engineer said the place would be good "for one tavern, a blacksmith shop, a grocery store, and nothing else". A year later, the area around the milepost had developed into a settlement, first known as Terminus, and later Thrasherville, after a local merchant who built homes and a general store in the area. By 1842, the town had six buildings and 30 residents and was renamed Marthasville to honor Governor Wilson Lumpkin's daughter Martha. Later, John Edgar Thomson, Chief Engineer of the Georgia Railroad, suggested the town be renamed Atlanta. The residents approved, and the town was incorporated as Atlanta on December 29, 1847.
Atlanta had 12 National Banks chartered during the Bank Note Era, and 10 of those banks issued National Bank Notes.
Bank History
- Organized September 2, 1865
- Chartered September 14, 1865
- 1: Absorbed 5490 May 16, 1903 (Capital City National Bank, Atlanta, GA)
- 1: Assumed 9105 by consolidation December 2, 1916 (The American National Bank of Atlanta, GA)
- 2: Assumed 12492 by consolidation February 7, 1924 (City National Bank (No Issue), Atlanta, GA)
- 2: Merged with the Lowry Bank and Trust Company of Georgia, February 11, 1924
- 3: Assumed 5045 by consolidation November 23, 1929 and its circulation (Fourth National Bank, Atlanta, GA)
- Bank was Open past 1935
Atlanta National Bank
General Alfred Austell was born January 14, 1814, six miles from Dandridge, Tennessee, the son of William and Jane Austell. He was a farmer boy, trained to manual labor. He obtained a position with his brother, William, of Spartanburg, South Carolina, a merchant. His brother failed in business, but afterwards paid every debt in full. Young Austell then moved to Campbellton and commenced business as a merchant. In 1853 he married Miss Francina Cameron. Alfred Austell was a Brigadier General in the Georgia State Militia during the Civil War. Although he was successful and wealthy before the war, his businesses were ruined at the close of the conflict. General Austell rebuilt his fortune and went on to found the Atlanta National Bank and was its president upon its organization in 1865. He was a director of the Western & Atlantic Railroad. The city of Austell, GA is named for him. He passed on December 7, 1881, in Atlanta.
In February 1876, at the annual meeting of stockholders, the following were elected directors for the ensuing year: A. Austell, W.B. Cox, W.J. Garrett, R.H. Richards, J.W. Rucker, E.W. Holland, S.M. Inman. At a subsequent meeting of directors A. Austell was elected president; W.B. Cox, vice president; W.H. Tuller, cashier; P. Romare, assistant cashier.
On September 21, 1891, the Trust Company of Georgia, was granted a charter by the Georgia General Assembly as the Commercial Travelers' Savings Bank of Atlanta. The founders were John M. Green, Joel Hurt, H.L. Atwater, W.A. Hansell, T.J. Hightower, J.G. Oglesby, J.D. Turner, John B. Daniel, Joseph Hirsch, Leon Lieberman, Louis Wellhouse, A.J. McBride, D.O. Dougherty, W.A. Gregg, W.W. Draper, A.C. Hook, W.T. Ashford, George W. Brooke, C.I. Branan, and C.D. Montgomery. In November 1893, it restructured as a trust company and renamed itself Trust Company of Georgia. It is the most direct corporate ancestor of SunTrust.
On Tuesday, January 14, 1896, shareholders re-elected the board of directors. They were James Swann, Paul Romare, A.E. Thornton, S.M. Inman, Frank E. Block, C.E. Currier and W.D. Grant. The officers were re-elected as follows: James Swann, president; P. Romare, vice president; and C.E. Currier, cashier.
On Monday, April 13, 1903, business went on as usual at the Capital City National Bank although it had been bought out by the Atlanta National Bank. The Capital City offices would remain open for another two months to wind up its affairs and transfer its business to the Atlanta National as soon as the latter moved into its new quarters in the Century building. The stockholders of the Capital City received par and 10% for their stock in addition to whatever they might derive from the assets of G.H. Sims, the defaulting collection clerk. National banking laws prohibited these banks from having branches; therefore, the Capital City bank would close up its business on East Alabama Street.
In January 1913, the directors were C.E. Currier, F.E. Block, A.R. Swann, Jack J. Spalding, W.F. Winecoff, James S. Floyd, Austell Thornton, E.H. Inman, and Geo. R. Donovan. The officers were C.E. Currier, president; F.E. Block and Jas. S. Floyd, vice presidents; Geo. R. Donovan, cashier; J.S. Kennedy and J.D. Leitner, assistant cashiers. After charging off the entire shortage, the bank released an official report showing total resources of $1,653,081.17 against liabilities of $250,000 capital; $4,717.92, undivided profits; $50,000 circulation; and $1,348,363.25 deposits.
Atlanta and Lowry National Bank
NOTE: History of the Commercial Travelers' Savings Bank which became the Trust Company of Georgia, and the Lowry National Bank (Charter 5318) which became the Lowry Bank and Trust Company of Georgia in 1923, is available by following this link.
On Wednesday, February 6, 1924, the City Bank of Atlanta was converted into the City National Bank of Atlanta and merged with the Atlanta and Lowry National Bank. Mr. J.W. Pole, chief bank examiner from Washington represented the comptroller of the currency in several meetings. Robert F. Maddox, chairman of the board, explained the steps taken in order to follow the letter of the law and the rulings of the Treasury Department. "In order to meet the requirements of the comptroller's ruling regarding branch banks," said Mr. Maddox, "it was decided to organize the City Bank of Atlanta under a state charter with a capital of $200,000. This step was taken to perfect the operation of the branches of the combined institution." Merger of the Atlanta National Bank and the Lowry Bank and Trust Company of Georgia under the name of the Atlanta and Lowry National Bank was effected on Monday, February 11, 1924. The new bank would have capital of $11 million and resources exceeding $60 million. Capital stock of the Atlanta and Lowry National Bank was $4,000,000 with surplus of $2,500,000 and undivided profits of $1,826,015. The Trust Company of Georgia would also begin to function as a separate institution starting Monday under the same ownership and management as the banking institution. Main offices of the Atlanta and Lowry National Bank were located in the Trust Company of Georgia building at the corner of Edgewood Avenue and Pryor Street. Branch offices were located in the Atlanta National Bank building and the Piedmont Hotel. The main office was being entirely remodeled. The Trust Company of Georgia would also maintain a branch office in the Atlanta National Bank building. The officers of the Atlanta and Lowry National were elected by the directors on Thursday February 7th. Officers were: Robert F. Maddox, chairman of the board; Thomas K. Glenn, president; James S. Floyd, H. Warner Martin, George R. Donovan, Henry W. Davis, Thomas J. Peeples, Evert A. Bancker, J.S. Kennedy, James F. Alexander, and R.B. Cunningham, vice presidents; Ernest W. Ramspeck, cashier; Dameron Black, comptroller, D.B. DeSaussure, Harry W. Johnson, Leo Stillman, Ernest A. Fowler, A.N. Anderson, O.C. Bradford, Jr., Perry M. Smoak, R.C. Henderson, H.G. Walker, Miss Jay Spencer Knapp, Fred McSwain, and G.P. Sasser, assistant cashiers.
In January 1925, the Atlanta and Lowry National bank reported results at the close of business on December 31, 1924. The total resources were $57,146,648.20 with capital stock $4,000,000; Surplus $2,500,000; undivided profits $1,010,892.98; circulation $988,100; and deposits of $48,115,984.63. The Trust Company of George reported total resources of $7,865,131.52 with capital stock $2,000,000; surplus $1,000,000; undivided profits $5,770.52; and deposits of $7,865,131.52. The entire capital stock of the Trust Company of Georgia was owned by the shareholders of the Atlanta and Lowry National. The combined resources exceeded $65 million. The Pryor St. Office was located on the corner of N. Pryor St. and Edgewood Ave., Whitehall St. office at the corner of Whitehall and Alabama Streets, and the Peachtree St. Office at the corner of Peachtree and Luckie Streets.
First National Bank of Atlanta
The formation of the largest bank south of Philadelphia and in the 13 southern states, as a result of the consolidation of the Atlanta and Lowry National Bank and the Fourth National Bank, was announced Saturday, October 19, 1929, in a statement given to the press by John K. Ottley, president of the Fourth National, and T.K. Glenn, president of the Atlanta and Lowry. The new bank, which would be known, as the First National Bank, would have combined resources of $141,102,187, capital stock of $9,640,000, surplus of $8,340,000, undivided profits of $3,583,54, and deposits in excess of $101,000,000, making it by far the largest and strongest financial institution in the southeastern states. The resources of the affiliated companies of the two banks would bring the total resources of the new bank to more than $150,000,000. It was announced that the new bank would be formed entirely by a combination between the Fourth National and the Atlanta and Lowry with no outside interests represented in any way.
The merger plan, which was ratified by the board of directors of each bank at a joint meeting held Saturday morning, would be submitted for final ratification to a joint meeting of the stockholders of the banks to be held November 20th. The directors of the new bank would include the entire board of both the Atlanta and Lowry and the Fourth National. No announcement was made as to the official roster of the new bank, beyond the statement that a committee, representing the directors of both banks, had been named to make recommendations to the new board of directors at its session immediately following the stockholders’ meeting on November 20th. The combination, was effected solely for the purpose of forming a bigger and stronger institution, able to render enlarged service to Atlanta and the entire southeast, making even stronger than before Atlanta's position as financial center of the south. The new bank would rank 50th in size in America. With capital, surplus and undivided profits of more than $12,000,000, it will be able to meet any demand that could be made upon a financial institution in this section. ln addition, it will have more than $5,000,000 of capital, surplus and undivided profits of the Trust Company of Georgia. The financial statement included the combined resources of the Atlanta and Lowry bank, the Fourth National bank, the Trust Company of Georgia, the Trusco Securities Company, the Trusco Investment Company, the Fourth National Associates and the Fourth National Company, but not the resources of any of the affiliated companies throughout the state. The charter of the Atlanta and Lowry would continue on with the First National Bank. However, the new institution would use the Fourth's headquarters when completed.
The directors of the Atlanta and Lowry were: Ivan E. Allen, William C. Bradley, W.M. Camp, J. Bulow Campbell, C. Howard Candler, William Candler, W.E. Chapin, Robert D. Cole, Robert L. Cooney, Henry W. Davis, William J. Davis, James L. Dickey, S.C. Dobbs, Henry R. Durand, Dr. W.S. Elkin, James S. Floyd, Thomas K. Glenn, John N. Goddard, R.E. Hightower, Harold Hirsch, J.T. Holleman, Edward H. Inman, Frank M. Inman, J.S. Kennedy, Robert F. Maddox, H. Warner Martin, Carlos H. Mason, Wilmer L. Moore, E.P. McBurney, Charles T. Nunnally, James H. Nunally, Frank C. Owens, Thomas B. Paine, Lloyd B. Parks, Frederick J. Paxon, J. Carroll Payne, R.B. Pegram, J.H. Porter. W.R. Prescott, C.V. Rainwater, J.E. Sirrine, William G. Smith, J.J. Spalding, John E. Talmadge, Sam Tate, Albert E. Thornton, S.Y. Tupper, W.C. Wardlaw, George W. West, Mell R. Wilkinson, Charles R. Winship, Ernest Woodruff, Robert W. Woodruff. Directors of the Fourth National were: Edward C. Peters, Charles A. Wickersham, David Woodward, John K. Ottley, James D. Robinson, Harry L. English, Cator Woolford, Dr. Thomas P. Hinman, Lee Ashcraft, Thomas H. Daniel, Edwin F. Johnson, William T. Perkerson, L.W. Robert, Jr., George H. Lanier, J.J. Haverty, Ben S. Read, Robert Strickland, Jr., C. Clyde Williams, J.K. Orr, and Charles A. Bickerstaff.
On Monday, November 25th, 1929, the First National Bank of Atlanta opened its doors for business. The merger was effective at the close of business Saturday. At the helm were four of the most prominent bankers in the south: T.K. Glenn, chairman of the board; John K. Ottley, president; R.F. Maddox, chairman of the executive committee; and J.D. Robinson, executive vice president. With four offices in the downtown business and financial districts, and seven outlying branches extending the reach of the new institution to important community centers throughout Greater Atlanta, the First National began serving the many thousands of patrons who constituted the clientele of the merged institutions. Applications to change the name of the Trusco Securities Company to the First National Company and the Trusco Investment Company to the First National Associates had been filed in Fulton superior court. The name of the building at the corner of Peachtree and Marietta Streets, the chosen headquarters of the newly-named First National Bank and which would be one of the city's largest office structures when the annex was completed, was changed to the First National Bank building instead of the Fourth National Bank building. The bank would have its main offices on the mezzanine floor of the enlarged building while the ground floor would be devoted to commercial stores and elaborate entrances to the bank and building. The annex when finished would increase the size of the building one and 1/2 times. Foundation work was well under way.
On December 12, 1986, Wachovia purchased First Atlanta. Founded as Atlanta National Bank on September 14, 1865, and later renamed to First National Bank of Atlanta, this institution was the oldest national bank in Atlanta. This purchase made Wachovia one of the few companies with dual headquarters: one in Winston-Salem, NC, and one in Atlanta, GA.
Official Bank Titles
1: The Atlanta National Bank, Atlanta, GA
2: The Atlanta and Lowry National Bank, Atlanta, GA (2/6/1924)
3: The First National Bank of Atlanta, GA (11/23/1929)
Bank Note Types Issued
A total of $30,939,380 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 3,757,015 notes (2,076,284 large size and 1,680,731 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1: Original Series 4x5 1 - 4900 1: Original Series 3x10-20 1 - 6280 1: Series 1875 3x10-20 1 - 5338 1: 1882 Brown Back 3x10-20 1 - 14573 1: 1902 Red Seal 3x10-20 1 - 12200 1: 1902 Date Back 4x5 1 - 71250 1: 1902 Date Back 3x10-20 1 - 59000 1: 1902 Plain Back 4x5 71251 - 186250 1: 1902 Plain Back 3x10-20 59001 - 130800 2: 1902 Plain Back 4x5 1 - 101227 2: 1902 Plain Back 3x10-20 1 - 57503 2: 1929 Type 1 6x5 1 - 9988 2: 1929 Type 1 6x10 1 - 5022 2: 1929 Type 1 6x20 1 - 1690 3: 1929 Type 1 6x5 1 - 122852 3: 1929 Type 1 6x10 1 - 67342 3: 1929 Type 1 6x20 1 - 22914 3: 1929 Type 2 5 1 - 185512 3: 1929 Type 2 10 1 - 77736 3: 1929 Type 2 20 1 - 38635
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1935):
Presidents:
- Alfred Austell, 1865-1881
- James Swann, 1882-1902
- Paul Romare, 1903-1903
- Charles E. Currier, 1904-1916
- Robert Foster Maddox, 1917-1923
- Thomas Kearney Glenn, 1924-1928
- John King Ottley, 1929-1935
Cashiers:
- William Henry Tuller, 1865-1877
- Paul Romare, 1878-1887
- Charles E. Currier, 1888-1903
- Herbert Raines Bloodworth Sr., 1904-1904
- George R. Donovan, 1905-1916
- Joseph Sherrard Kennedy Sr., 1917-1922
- Robert Brown Cunningham Jr., 1923-1923
- Ernest Ward Ramspeck, 1924-1926
- Andrew Mangum Bergstrom, 1927-1928
- Frank M. Berry, 1929-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- Atlanta NB/Atlanta and LowryNB/FNB, Atlanta, GA History (NB Lookup)
- Georgia Bank Note History (BNH Wiki)
Sources
- Atlanta, GA, 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
- "Atlanta, the Metropolis of the South," The Franklin-Turner Co., Atlanta, 1907.
- The Atlanta Constitution, Atlanta, GA, Fri., Feb. 18, 1876.
- The Atlanta Constitution, Atlanta, GA, Tue., Dec. 13, 1881.
- The Atlanta Constitution, Atlanta, GA, Wed., Jan. 15, 1896.
- The Atlanta Constitution, Atlanta, GA, Tue., Apr. 14, 1903.
- The Atlanta Journal, Atlanta, GA, Mon., Nov. 16, 1914.
- The Atlanta Journal, Atlanta, GA, Thu., Feb. 7, 1924.
- The Atlanta Constitution, Atlanta, GA, Fri., Feb. 8, 1924.
- The Atlanta Journal, Atlanta, GA, Sun., Jan. 4, 1925.
- The Atlanta Constitution, Atlanta, GA, Sun., Oct. 20, 1929.
- The Atlanta Constitution, Atlanta, GA, Sun., Nov. 24, 1929.
- The Atlanta Constitution, Atlanta, GA, Tue., Nov. 26, 1929.
- The Atlanta Constitution, Atlanta, GA, Thu., Nov. 28, 1929.