Bank of Woodland National Association, Woodland, CA (Charter 10878)
Bank of Woodland National Association, Woodland, CA (Chartered 1916 - Open past 1935)
Town History
Woodland is a city in and the county seat of Yolo County, California. Located approximately 15 miles northwest of Sacramento, it is a part of the Sacramento metropolitan area. As of the 2020 census, Woodland had a population of 61,032. In 1910 the population was 3,187, growing to 5,542 by 1930.
Woodland's origins date to 1850 when California gained statehood and Yolo County was established. The area was well irrigated due to the efforts of James Moore, which drew people into farming as the soil was very fertile. The city gained a federal post office in 1861 with the help of Missourian Frank S. Freeman. A year after this, in 1862, the county seat was moved from Washington (present day West Sacramento) to Woodland after Washington was flooded. The addition of a railroad line to Sacramento, and the more recent addition of Interstate 5, helped the city to thrive.
In 1851, the year after California became a state and Yolo County was formed, "Uncle Johnny" Morris settled at what is now the corner of First and Clover Streets in Woodland. Two years later Henry Wyckoff arrived and built a store he named "Yolo City". The new Yolo City might have stayed a singular store if Frank S. Freeman, the man responsible for the establishment of the post office, had not bought it and acquired 160 acres of land in 1857. Freeman began to develop a town that he hoped would be a trading center for one of the richest crop-growing areas in America. He gave land to anyone who would clear it and build a home. In 1859, Freeman suggested that the town be called Woodland, which the post office accepted. On July 5, 1861, the Woodland Post Office was established and Freeman became Postmaster.
Woodland had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized July 11, 1916
- Chartered July 28, 1916
- Succeeded Bank of Woodland, Woodland, CA
- Bank was Open past 1935
- Succeeded by American Trust Company of Sacramento in March 1950
On November 18, 1868, articles of incorporation for The Bank of Woodland were filed in Yolo and in the Secretary of State's office. Capital stock was $100,000 divided into 1,000 shares of $100 each. All the stock was subscribed with 17 persons taking all of it. The trustees for the first three months were John D. Stephens, F.S. Freeman, John Hollingsworth, Geo. Snodgrass, Camillus Nelson, H.C. Hemmenway, Jeff Wilcoxsen, H.F. Hastings, and Frank Miller.[2] The Bank of Woodland opened for business on February 20, 1869.[3]
PETRIFIED MUSHROOM. The Yolo Democrat reported the following from Friday morning, March 1, 1872: J.D. Stephens, president of the Bank of Woodland, while assisting in planting trees on some recently purchased property in town, dug up on Friday morning, what appeared to be a perfectly petrified mushroom having the shape and appearance of that article, just minus the stem, which had not petrified; but the point of junction was distinct. The petrification is as hard as flint, measuring nearly six inches across and weighs in the neighborhood of two pounds.[4]
On Tuesday, April 16, 1872, The Bank of Woodland filed with the Secretary of State a certificate to increases its capital stock from $200,000 to $500,000.[5]
In June 1880, Bank Commissioners, having concluded the examination of Interior banks, reported for the Bank of Woodland, Yolo County, the following: Assets - Banking house and lot, $13,956.39; other real estate owned $18,200.17; loans on real estate, $261,734.86; invested in stocks and bonds $637.21; loans on personal security, $153,216.04; loans on other securities, $912; money on hand, $261,358.44; deposits in other banks $128,322.62; office furniture and fixtures, $948; other assets, $866.74; Interest in arrears, $18,756.24; total, $858,938.71. Liabilities--Capital paid up, $430,000; reserve fund, $13,279.93; due depositors, $393,696.88; other liabilities, $1,901.90.[6]
The metropolis and County Seat of Yolo was Woodland, pleasantly situated near the central portion of the county in one of the finest agricultural districts just 20 miles northwest of Sacramento. By the census of 1880 it was found to contain about 2,400 inhabitants. Besides the collegiate institution, the Hesperian College, there were several private schools and the public school, a model of system and thoroughness in teaching. Among the most prominent business enterprises were the Bank of Woodland under management of a Board of Directors with J.D. Stephens, president, and C.W. Bush, cashier; the Pioneer store, general merchandise, A. Nackelsberg and Bro., proprietors; dry goods clothing, etc., Stenge & Hink of the "White House," Cherwell & Levy of the Mechanic and Farmers' Store; M. Cohen, Michael & Co., and Webb Bros.; hardware, F.S. Freeman & Co., and H.B. Wood; groceries, A.D. Porter & Co., C.B. Culver, J.H. Eaton & Son, W. Cohen, and J.I. Eaton; agricultural implements, C. & W. Chellenberger; boots and shoes, S.F. Pendegast & Co.; millinery, Mrs. H.N. Ogborn, Mrs. W.D. Holcom, and Mrs. H. Karewski; harness, etc., T.M. Prior, L. Deitz, and D. Tobies; butchers, Frazer & Co., and Barnes & Co.; jewelry, G.W. Green, James A. Barclay, and C.S. Gray; hotels, Capitol, Nat. Tackney, proprietor; Craft House, Jno. Gessner; Exchange, M.W. Torrence, proprietor, and the Court House, Adam Dinzler, proprietor; blacksmithing, wagon making, etc., A. Webber, Dunphy & Knox, Stocking & Crane, B.F. Ready, R.B. Johnson, and Peter Fitzgerald; livery, Menlers & Lawson, J.B. Pockman, White & Mock, and L. Whitman.[7]
In May 1882, L.D. Stephens accepted the position of teller in the Bank of Woodland.[8] In July the chronometer lock on the safe was accidentally set for 41 hours instead of 17 on Friday night and the consequence was that the bank had to be opened Saturday without any money on the counters. A draft was made on the county treasurer for enough to transact business until noon when a remittance of $20,000 was received from Sacramento.[9]
In April 1883, the new Bank of Yolo planned to occupy the corner room of the new brick hotel constructed on the corner of Main and College Streets at a cost of $50,000 by A.D. Porter, Thos. M. Pryor, F.S. Freeman and the estate of John Byrnes. Dr. H.P. Merritt was the president of the Bank of Yolo with W.W. Brownell, vice president; and C.W. Bush, cashier and manager. Mr. Bush was with the Bank of Woodland for 14 years.[10]
In January 1916, the Bank of Woodland had capital and surplus paid in gold coin of $1,202,650.09. The officers were J.L. Stephens, president; C.Q. Nelson, vice president; J.H. Willoughby, cashier; and F.W. Stephens, assistant cashier.[11] The report of condition of the Bank of Woodland, No. of bank 49, as of the close of business on June 30, 1916, showed total resources of $1,561,367.67. The capital stock paid in was $962,100, surplus $240,525, undivided profits $12,703.98, and individual deposits subject to check $308,256.47. J.L. Stephens was president, and J.H. Willoughby, secretary (cashier).[12] The Treasury announced that a charter had been issued on July 28th to the Bank of Woodland, National Association, with a capital of $200,000. Also announced was the liquidation of the First National Bank of Merced with assets taken over by the Bank of Italy as San Francisco which established a branch at Merced.[13] The bank was formed by the amalgamation of the Bank of Woodland and the Yolo County Bank of Savings. The officers chosen after the amalgamation included the directors of both institutions. They were John Stephens, president; Charles Q. Nelson, vice president; J.I. McConnell, cashier; P.T. Laugenour, John Wolfrom, H.D. Porter, John Griffin, L.H. Stephens, Emil Nicias, and H.H. Gable. The Bank of Woodland was one of the oldest in the state.[14]
At noon, on January 10, 1922, Clarence W. Bush, for many years president of the Bank of Yolo of Woodland, and who left recently for Hollywood in the hope to benefit his health, died there according to a meager message received by George N. Merritt, his successor as head of the Bank of Yolo. Death was unexpected for Bush was active, and only a few days ago was reported in better health. He became conspicuous in financial circles the first year United States became involved in the World War, when he was appointed director of Liberty Loan drives in Yolo County. He was head of all five drives and put Yolo over the top as many times with a margin which brought her national honors for liberal donations to the government in time of stress. Bush was born in Mississippi in 1848 and first engaged in banking in New York City. He was cashier of the Bank of Woodland when that institution was organized.[15]
On Tuesday, January 8, 1935, Elmer W. Armfield, one of the leading bankers in northern California, was re-elected president of the Yolo County Savings Bank and Bank of Woodland National Association. The complete set of officers and directors follows: Yolo County Savings Bank: Elmer W. Armfield, president; J.D. Stephens, vice president; H.D. Porter, cashier; E.C. Cooper and Charles W. Day, assistant cashiers. Directors were Elmer W. Armfield, P.N. Ashley, William Dahler, Charles W. Day, L.J. Richter, H.C. Roth, J.D. Stephens, and T.J. Stephens. Bank of Woodland: Elmer W. Armfield, president; J.D. Stephens, vice president; E.C. Cooper, cashier; H.D. Porter and Charles W. Day, assistant cashiers. Directors were Elmer W. Armfield, P.N. Ashley, William Dahler, Charles W> Day, Fred R. Fairchild, L.J. Richter, H.C. Roth, J.D. Stephens, and T.J. Stephens.[16]
In January 1950, Elmer W. Armfield was beginning his twenty-third year as president of Bank of Woodland National Association and the Yolo County Savings Bank, both housed under one roof. At the annual election the officers were returned for another term. Other officers of the Bank of Woodland were T.J. Stephens, vice president and trust officer; J.D. Stephens, vice president; E.C. Cooper, cashier; H.D. Porter, A.R. Pearl, Louis H. Henigan, and Irene Sanchez, assistant cashiers; and Alfred D. Keisler, Jr., assistant trust officer. Other officers of the Yolo County Savings Bank were J.D. Stephens, vice president; T.J. Stephens, vice president; Porter, cashier; Cooper and Jane Murphy, assistant cashiers. The Bank of Woodland was established in 1868 and the Yolo S County Savings Bank in 1892.[17] American Trust had 81 offices in the state.[18] On March 11th, James K. Lochead, president of the American Trust Company, announced the appointment of Ward C. Krebs as manager of its woodland office to be established through the purchase of the assets of the Bank of Woodland National Association and Yolo County Savings Bank. T.J. Stephens, vice president of both banks was named assistant manager. Krebs, a native of Sacramento, was the son of Harry C. Krebs, Sacramento County Recorder. He was a graduate of Stanford University and had been identified with the American Trust Company in Sacramento since 1936 and for the past two years had managed the bank's North Sacramento office. Stephens was a native of Woodland and had been with the Woodland banks in an executive capacity since 1940. Prior to that he farmed in Yolo County and also was connected with the Federal Intermediate Credit Bank. In addition to Stephens, both Emmett C. Cooper and Harry D. Porter would continue in official capacities. The new management would take over on March 27th with the present staff of the Woodland banks continuing as employees of the American Trust Company.[19]
On March 14, 1976, James K. Lochead, retired chairman and chief executive officer of the American Trust Company, died at a Berkeley hospital after a long illness. He joined American Trust in 1921 and was elected president in 1938. He became chairman of the board and chief executive officer in 1956 and retired in 1957. He continued as a member of the board when American Trust merged with Wells Fargo Bank. A native of Fresno, he graduated from the University of California at Berkeley with the class of 1915 and served in World War I. Mr. Lochead was a director of the Pacific Gas and Electric Company, president of the San Francisco Clearing House Association, trustee of the San Francisco Bay Area Council and member of the Pacific Union Club, the Bohemian Club, the Commonwealth Club and others. He was survived by a son, James K. Lochead Jr., of Italy and two grandchildren.[20]
Official Bank Title
1: Bank of Woodland National Association, Woodland, CA
Bank Note Types Issued
A total of $865,570 in National Bank Notes was issued by this bank between 1916 and 1935. This consisted of a total of 110,636 notes (No large size and 110,636 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 1 6x5 1 - 8738 1929 Type 1 6x10 1 - 4554 1929 Type 1 6x20 1 - 1210 1929 Type 2 5 1 - 13418 1929 Type 2 10 1 - 8622 1929 Type 2 20 1 - 1584
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1916 - 1935):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Woodland, CA, 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
- ↑ Woodland Daily Democrat, Woodland, CA, Tue., Jan. 28, 1919.
- ↑ The Sacramento Bee, Sacramento, CA, Thu., Nov. 19, 1868.
- ↑ The San Francisco Chronicle, San Francisco, CA, Sun., Feb. 14, 1869.
- ↑ The Daily Vallejo Recorder, Vallejo, CA, Wed., Mar. 6, 1872.
- ↑ The Sacramento Bee, Sacramento, CA, Wed., Apr. 17, 1872.
- ↑ The Morning Call, San Francisco, CA, Tue., June 22, 1880.
- ↑ The Sacramento Bee, Sacramento, CA, Fri., Dec. 24, 1880.
- ↑ Sacramento Daily Record-Union, Sacramento, CA, Fri., May , 1882.
- ↑ The Vallejo Evening Chronicle, Vallejo, CA, Mon., July 3, 1882.
- ↑ The Sacramento Union, Sacramento, CA, Tue., Apr. 3, 1883.
- ↑ Woodland Daily Democrat, Woodland, CA, Wed., Jan. 5, 1916.
- ↑ Woodland Daily Democrat, Woodland, CA, Sat., July 15, 1916.
- ↑ The San Francisco Examiner, San Francisco, CA, Fri., July 28, 1916.
- ↑ The Sacramento Bee, Sacramento, CA, Mon., Aug. 7, 1916.
- ↑ The Sacramento Union, Sacramento, CA, Wed., Jan. 11, 1922.
- ↑ Woodland Daily Democrat, Woodland, CA, Wed., Jan. 9, 1935.
- ↑ The Sacramento Bee, Sacramento, CA, Thu., Jan. 26, 1950.
- ↑ The Berkeley Gazette, Berkeley, CA, Tue., Jan. 31, 1950.
- ↑ The Sacramento Bee, Sacramento, CA, Sat., Mar. 11, 1950.
- ↑ The San Francisco Examiner, San Francisco, CA, Mon., Mar. 15, 1976.