Bartlesville National Bank/First NB in Bartlesville, OK (Charter 6258)

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Postcard of the First National Bank in Bartlesville, Oklahoma, ca1920s
Postcard of the First National Bank in Bartlesville, Oklahoma, ca1920s. Also known as the Sutton-Keeler building. Courtesy of Heritage Auctions, www.ha.com

Bartlesville National Bank/First NB in Bartlesville, OK (Chartered 1902 - Closed (Merger) 2002)

Town History

Advertisement for the Bartlesville National Bank
Advertisement from February 1903 for the Bartlesville National Bank of Bartlesville, Indian Territory.[1]

Bartlesville is a city in Washington County and Osage County, Oklahoma. Bartlesville is 47 miles north of Tulsa and 18 miles south of the Kansas border. It is the county seat of Washington County. The Caney River runs through Bartlesville. The population was 37,290 at the 2020 census. In 1900 the population was 698, growing to 14,763 by 1930.

Bartlesville is the primary city of the Bartlesville Micropolitan area, which consists of Washington County and had a population of 51,843 in 2018. A small portion of the city is in Osage County. The city is also part of the Tulsa Combined Statistical Area, with a population of 1,151,172 in 2015.

Bartlesville is notable as the longtime home of Phillips Petroleum Company. Frank Phillips founded Phillips Petroleum in Bartlesville in 1905 when the area was still an Indian Territory. The company merged with Conoco as ConocoPhillips and later split into the two independent companies, Phillips 66 and ConocoPhillips. Both companies have retained some operations in Bartlesville, but they have moved their corporate headquarters to Houston.

Bartlesville had six National Banks chartered during the Bank Note Era, and four of those banks issued National Bank Notes. The four note issuing banks were First National Bank of Bartlesville, OK (Charter 5310), Bartlesville National Bank/First NB in Bartlesville, OK (Charter 6258), American National Bank, Bartlesville, OK (Charter 7032), and Union National Bank, Bartlesville, OK (Charter 9567).

Bank History

photo of the Citizens Bank and Trust Company building,
A 1905 photo of the Citizens Bank and Trust Company building, Bartlesville, Indian Territory.[2]
Advertisement from August 1920
Advertisement from August 1920 for the new First National Bank in Bartlesville, Oklahoma.

In March 1902, the comptroller of the currency approved the application submitted by R.L. Beattie, W.H. Ferguson, Thos. J. Garland, R.J. Renn, W.A. Renn, and W.H. Burks to organize The Bartlesville National Bank of Bartlesville, Indian Territory with a capital of $25,000.[3] On Monday, April 7, 1902, the bank organized with William Johnstone, president; Leslie Coombs, vice president; and R.L. Beattie, cashier.[4] On May 15, 1902, a certificate was issued to the Bartlesville National Bank to commence business; capital $25,000; William Johnstone president; and R.L. Beattie, cashier.[5] The bank opened for business in a little frame shack on the corner of Third and Dewey which barely afforded room for the safe and the cuspidor let alone the bank's officers. Construction of a commodious two-story bank building located on the southwest corner of Second Street and Dewey Avenue was begun shortly afterward. The new building was ready for occupancy by the first of the new year. The new office furniture and fixtures were as handsome as any in the Territory and cost more money, $8,600, than the entire capital of some banks. Mr. William Johnstone, the president, was literally the father of Bartlesville. No other man had done more or as much as he for the upbuilding of the town and the advancement of the residents. No worthy man ever appealed in vain to Bill Johnstone for a lift. Leslie Coombs, the vice president, while comparatively a new-comer, was held in the fullest confidence and esteem. Mr. Coombs was also interested in several other banks, but the Bartlesville National was his pet. Mr. Robert L. Beattie, the cashier, had spent his life in the banking business and made it a study. He was a gentleman of finest business qualifications and during his residence in Bartlesville had risen to the pinnacle of popularity.[6]

In January 1903, the directors were William Johnstone, Leslie Coombs, Ola Wilhite, R.J. Renn, and R.L. Beattie. The officers were Wm. Johnstone, president; Leslie Coombs, vice president; and R.L. Beattie, cashier. The bank had paid in capital of $25,000.[7] 

In August 1905, the organization of the Citizens Bank & Trust Company was perfected and officers elected as follows:  Frank Phillips, president; L.E. Phillips, treasurer; and D.L. Owsley, secretary. The other directors would be F. Phillips and H.J. Holm. President Philips had been a director in the Iowa State Savings Bank of Creston, Iowa for several years and had large interests in other banking institutions in Nebraska. Mr. Holm was in the banking business in Texas for about 14 years prior to coming to Bartlesville. Mr. Owsley was connected with the Bank of Commerce of Louisville, Kentucky for 12 years and had several years' experience in the trust company business. Plans for a $12,000 bank building were accepted and a contract awarded to M.E. Graybill.[8] The capital stock was $50,000. Frank Phillips was well-known locally being an extensive oil operator and capitalist. H.J. Holm, vice president, was secretary and manager of the plant of the Bartlesville Brick Company and for 14 years was the sole owner of the Bank of Higgins, located in Higgins, Texas. L.E. Phillips, treasurer, moved from Knoxville, Iowa, several months ago, but was already well-known to most of the business and oil men of the city. D.L. Owsley, secretary, was a banker of 12 years experience having been with the Bank of Commerce, Louisville, Kentucky. He came to Bartlesville about three years ago and built up an extensive insurance business which he disposed of to enter banking. T.S. Ives, one of the wealthiest men in Iowa was one of the directors.[9]

On Friday, April 7, 1911, The Citizens Bank & Trust Company, one of the largest state banks in Oklahoma, was absorbed by the Bartlesville National Bank. The bank would open Monday morning with no other change than that one bank with largely increased resources had taken the place of two banks. The Bartlesville National Bank and the Citizens Bank & Trust Co. had been under the same ownership, management and control since November 9, 1908, when the former was purchased by the owners of the Citizens bank, and the consolidation which was effected was nothing more than a simplifying of the details of management and operation. The reason for the consolidation was the belief that there was no advantage in maintaining two separate banks, but that there was an advantage to customers and the public generally in having one large bank. There was no change in ownership, policy or employees. The Bartlesville National Bank bought all of the assets of the Citizens Bank & Trust Co. and assumed all of its liabilities to its depositors and all checks drawn on accounts in the Citizens Bank & Trust Co. would be paid by the Bartlesville National Bank. With the purchase of the Citizens bank, the Bartlesville National now had resources of one million dollars, and its capital stock, surplus and undivided profits increased to approximately $150,000. The Bartlesville National Bank was one of the oldest banks in this part of the state. It was organized in 1902 by William Johnstone who was its president for many years. R.L. Beattie, now of the Gate City National Bank at Kansas City, was connected with it until its purchase by the owners of the Citizens bank in 1908. Frank Phillips, L.E. Phillips and H.J. Holm organized the Citizens Bank & Trust Co. before statehood, the bank opening for business December 5, 1905, in the building on Third Street which had since been the home of the institution and where the business of the Bartlesville National would be continued. The officers of the Bartlesville National Bank were: Frank Phillips, president; H.J. Holm, vice-president; L.E. Phillips, cashier; F.J. Spies, Jr., assistant cashier.[10] 

In May 1915, the officers of the First National Bank were:  Dr. G.W. Sutton, president; Geo. B. Keeler, and A.D. Morton, vice presidents; Frank Bucher, cashier; and P.O. Bucher, assistant cashier. It had capital and surplus of $100,000 and deposits averaging around $450,000. The Bartlesville National Bank, managed by Frank Phillips, president; H.J. Holm, vice president; L.E. Phillips, cashier; F.J. Spies, Jr., assistant cashier; J.L. Overlees, Frank M. Breene, and J.G. Phillips reported capital, surplus and undivided profits of $199,229.38 and deposits of $1,174,288.93. The Union National Bank officered by M.F. Stilwell, president; R.L. Beattie, H.V. Foster, and J.H. Markham, Jr., vice presidents; H.C. Moore, cashier and F.A. Foster, assistant cashier, had capital $100,000, surplus $50,000, and deposits $994,530.14. The Bartlesville State Bank with Frank C. Raub, president; Wayne Mendell, R.S. Bradley and Dr. O.S. Somerville, vice presidents; G.R. McKinley, cashier; and J.C. Hagerman, assistant cashier, was the largest state bank in northern Oklahoma. It opened in 1908 and had capital $40,000, surplus and profits $1,726.25 and deposits $386,471.52. Bartlesville had a regularly organized clearing house with Frank C. Raub as president, Frank Phillips, vice president; P.O. Bucher, secretary and treasurer; and J.M. Hockensmith, manager.[11]

In August 1920, authority was received from the Comptroller of the Currency to change the name of the Bartlesville National Bank to the First National Bank in Bartlesville. This completed the steps incident to the purchase of the business of the First National Bank by the Bartlesville National Bank effected May 1st. The directors were H.J. Holm, F.J. Spies, Jr., R.C. Russum, F.L. Dunn, L.E. Phillips, Geo. B. Keeler, John H. Kane, H.R. Straight, Frank Bucher, Frank Phillips, and A.D. Morton. The officers were Frank Phillips, president; F.J. Holm, F.L. Dunn, F.J. Spies, Jr., L.E. Phillips, and Geo. B. Keeler, vice presidents; E.A. Wines, cashier; C.V. Reasor, S.C. Horner, and D.A. Beger, assistant cashiers. The bank had capital and surplus of $500,000 and resources over $6,000,000..[12]

Postcard of the Phillips Building and the First National Bank building
Postcard of the Phillips Building and the First National Bank, ca1930s. Phillips Petroleum occupied their new building in February 1927.
In June 1925, Phillips Petroleum announced it would erect a seven story office building at Fourth and Keeler. Business in Bartlesville already in a more thriving condition than it had been for years received added impetus with the announcement. Additional employees would be brought to the city to carry on the increasing work of the big oil company.[13]

On Monday, June 21, 1926, Bartlesville made its debut as a federal court town with the first session of the United States district court of the northern district of Oklahoma. Judge F.E. Kennamer was on the bench. The Earl A. Wines case in which Wines, formerly cashier of the First National Bank pleaded guilty to embezzlement was of most interest locally. Wines admitted a shortage in his accounts with the bank of $13,632 and explained that he had charged the three items making this total to various banks with which the First National did business. He explained that in each of the three thefts he expected to pay the amount back from money he had coming to him from outside sources. The largest amount he took was $7,000 and he said he expected to replace this by making a loan from a Kansas City trust company but failed to negotiate it.[14] He was sentenced the next day by Judge Kennamer to serve 12 months in the county jail on each of three counts and to pay a fine of $2,000. The jail sentences would be served concurrently. Notably, he had skillfully covered his deficiencies and a bank examiner passed over them four separate times.[15]

In January 1927, the officers and directors of the First National Bank were Frank Phillips, president; L.E. Phillips, H.J. Holm, F.J. Spies, Jr., and F.L. Dunn, vice presidents; W.C. Smoot, cashier; S.C. Horner, C.V. Reasor, and D.A. Beger, assistant cashiers; John H. Kane, H.R. Straught, C.E. Burlingame, L.A. Rowland, John G. Phillips, H.E. Koopman, and Clyde H. Alexander, directors.[16] 

In February 1927, the first departments occupied the new Phillips Petroleum building. Eight years ago the company rattled around in the partial space taken over in the First National Bank building and now the two buildings just comfortably accommodated the offices, leaving room for a reasonable expansion. [17] The cost of the Phillips building was $303,000 without furnishings.[18]

On Sunday, November 20, 1927, Leslie Coombs died in a Kansas City hospital. The body was brought to Bartlesville Monday night by his widow and Mr. and Mrs. Walter Coombs. Death was caused by a complication of diseases. Mr. Coombs, who was 75 years old, was long prominent in the lumber and oil business here. Born in Hardin County, Kentucky, February 24, 1852, Mr. Coombs led an active and colorful life, figuring prominently in the early business life of Bartlesville. In 1882, he moved to Sumner County, Kansas, where he farmed for several years, later moving to Blackwell where he engaged in the cattle and meat market business. While in Blackwell he became president of the First National Bank of that city. In 1901, Mr. Coombs brought the old Revard ranch, located near Copan and comprising nearly a section of land, where he entered the cattle business on an extensive scale. He brought his family from Blackwell to Bartlesville March 15, 1902, and here he, William Johnstone, R.L. Beattie and Olie Wilhite organized the Bartlesville National Bank, which was housed in a frame building at the corner of Second and Dewey Streets, later erecting for their bank the building later occupied by an automobile accessory store. Selling his cattle business in 1903, Mr. Coombs entered the oil business in 1904, and in 1905 drilled his first well in the vicinity of where his son's house now stands at 1400 Osage. Mr. Coombs and George F. Boswell opened the Grandview addition in 1919. Although the oil business occupied most of Mr. Coombs' attention, he and his son Walter, engaged in the building business, in 1921 establishing the Coombs Lumber company. Although in ill-health, Mr. Coombs was active in his business affairs until several months before his death.[19]

In January 1928, the following officers were named: Frank Phillips, chairman, F.L. Dunn, president; H.J. Holm, F.J. Spies, Jr., vice president; W.C. Smoot, vice president and cashier; S.C. Horner, C.V. Reasor, and D.A. Beger, assistant cashiers.[20] 

In January 1988, federal bank insurers denied a Chicago bank holding company's request for assistance in buying and recapitalizing Union Bank & Trust Co. in Oklahoma City, the bank's chairman said Friday. Kenneth K. Mcllhaney, also president and chief executive, said he was told Friday of the final decision by the board of the Federal Deposit Insurance Corp. He said the FDIC said the proposal was not cost effective. Mcllhaney said the contract for the purchase, by Mid-Citco Inc. in Chicago, was automatically terminated upon the FDIC's denial of the open assistance application. But he said management was negotiating with a new party and may announce next week another transaction that would recapitalize the bank and prevent regulators from taking action against the bank because of its net worth problems. Mid-Citco and Union's holding company, Union Bancorporation Inc., announced a deal in August in which Mid-Citco would pay $100,000 for Union Bank's stock and invest $8 million to recapitalize the institution. The deal required the FDIC to contribute as much as $42 million to the bank to rehabilitate its assets and restore net worth. Kenneth A. Skopec was president of Mid-Citco.[21]

On March 31, Mid-Citco organized the new Union Bank from the remains of the Union Bank & Trust Co. which regulators declared insolvent and closed on that day. E.M. Bakwin, chairman and 95% owner of Union Bank and Trust Co., and Mid-Citco invested $10 million to capitalize the new bank which began business with $167 million in deposits. Bakwin was chairman of the Oklahoma National Stockyards Co.[22] On Friday, July 22, 1988, Union Bank and Trust Co. offices in Bartlesville and Dewey reopened as branches of First National Bank of Bartlesville. Regulators closed Union and approved its acquisition by First National Thursday. The acquisition was described by Donald Doty, president and chief executive officer of First National as "in the best interest of the customers, the community and the financial institutions involved." State bank commissioner Wayne Osborn attributed Union's troubles to the severe economic downturn in the city. The former Union Bank office in Bartlesville was one and one-half blocks from the First National Office. Doty said management was interested in keeping the Dewey branch open, but probably would consolidate the Bartlesville offices.[23] First National would change its name on Monday, August 1st to WestStar Bank. The bank included offices in Bartlesville, Oklahoma City, and Tulsa. First Bancshares Inc., the holding company for WestStar Banks also owned Exchange National Bank in Tulsa, located at 4500 S. Garnett Road, the only bank in the southeast quadrant of Tulsa. First National and Union Bank and Trust of Bartlesville were long-standing stalwarts of the company town dominated by Phillips Petroleum Co. Union bank with nonperforming loans of $11.8 million first opened its doors in 1909.[24]

1995 Graphic of largest bank holding companies operating in Oklahoma
The largest bank holding companies operating in Oklahoma in 1995 were Liberty Bancorp, Inc., Oklahoma City; BOK Financial Corp., Tulsa; Fourth Financial Corp., Wichita, Kansas; Banc One Corp., Columbus, Ohio; Boatmen's Bancshares Inc., St. Louis, Missouri; and Arvest Bank Group, Bentonville, Arkansas. Westar Bank of Bartlesville ranked 10th on the list of 10 largest banks in Oklahoma.[25]

In March 1994, Arvest Bank Group of Bentonville, Arkansas, announced plans to make a cash purchase offer to shareholders of First Bancshares Inc. of Bartlesville. The First Bancshares board cleared the way for the deal by Arvest, a bank holding company with assets of $1.6 billion owned by the Sam Walton Family. First Bancshares owned Weststar Bank with offices in Bartlesville, Dewey and Oklahoma City, and WestStar Bank in Tulsa, a sister organization. At year end First Bancshares' assets exceeded $470 million. Arvest had banking interests in the Bank of Bentonville, First National Bank of Siloam Springs, First National Bank of Rogers, Springdale Bank and Trust, McIlroy Bank in Fayetteville and Farmers and Merchants Bank in Prairie Grove, all in Arkansas; 50% of Security National Bank and Trust Co. of Norman; and State Bank in Tulsa. Walter Allison, chairman and CEO of First Bancshares Inc. said that price was important, however, "The Arvest philosophy has helped alleviate our concerns," and that "WestStar would continue as a separate bank with its own local board of directors responsible for meeting the financial needs of the community."[26] In May shareholders of WestStar Bank approved the sale to Arvest Bank Group.[27]

  • XXXXXXXXXX First National Bank in Bartlesville (FDIC #4039).
  • 11/19/1987 Acquired Republic Bank (FDIC #18619) in Oklahoma City, OK.
  • 07/21/1988 Acquired Union Bank and Trust (FDIC #4040) in Bartlesville, OK.
  • 08/01/1988 Changed Institution Name to WestStar Bank, a National Association.
  • 12/14/1990 Acquired Peoples Federal Savings Association (FDIC #32937) in Bartlesville, OK.
  • 04/01/1993 Changed Chartering Agency to STATE.
  • 04/01/1993 Changed Primary Federal Regulatory Agency to FED.
  • 04/01/1993 Changed Institution Name to WestStar Bank.
  • 04/01/1998 Acquired Victory Bank of Nowata (FDIC #16463) in Nowata, OK.
  • 04/18/2002 Merged and became part of Arvest Bank (FDIC #8728) in Fayetteville, AR.

Official Bank Titles

1: The Bartlesville National Bank, Bartlesville, OK

2: First National Bank in Bartlesville, OK (8/14/1920)

Bank Note Types Issued

1902 Red Seal $20 Proof
1902 Red Seal $20 Proof, Bartlesville, Indian Territories. Courtesy of the Smithsonian Institution Archives
1902 Plain Back $20 bank note
1902 Plain Back $20 bank note with stamped signatures of E.A. Wines, Cashier and Frank Phillips, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $50 bank note
1929 Type 1 $50 bank note with SN 7 and printed signatures of D.A. Berger, Cashier and W.C. Smoot, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $50 bank note
1929 Type 2 $50 bank note with printed signatures of D.A. Berger, Cashier and W.C. Smoot, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,088,550 in National Bank Notes was issued by this bank between 1902 and 1935. This consisted of a total of 108,584 notes (57,432 large size and 51,152 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: 1902 Red Seal 3x10-20 1 - 900 Territory, Indian
1: 1902 Date Back 3x10-20 1 - 4200
1: 1902 Plain Back 3x10-20 4201 - 6440
2: 1902 Plain Back 3x10-20 1 - 2600 Plate dated 1902
2: 1902 Plain Back 4x5 1 - 1855 Plate dated 1922
2: 1902 Plain Back 3x10-20 1 - 2563 Plate dated 1922
2: 1929 Type 1 6x5 1 - 3084
2: 1929 Type 1 6x10 1 - 1542
2: 1929 Type 1 6x50 1 - 210
2: 1929 Type 2 5 1 - 14120
2: 1929 Type 2 10 1 - 7171
2: 1929 Type 2 20 1 - 210
2: 1929 Type 2 50 1 - 635

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1902 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Bartlesville, OK, 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
  1. ↑ The Osage Journal, Pawhuska, OK, Thu., Feb. 5, 1903.
  2. ↑ The Weekly Examiner, Bartlesville, OK, Sat., Dec. 30, 1905.
  3. ↑ Weekly Oklahoma State Capital, Guthrie, OK, Sat., Mar. 22, 1902.
  4. ↑ The Oklahoma State Capital, Guthrie, OK, Tue., Apr. 15, 1902.
  5. ↑ The Daily Ardmoreite, Ardmore, OK, Thu., May 22, 1902.
  6. ↑ The Weekly Examiner, Bartlesville, OK, Sat., June 27, 1903.
  7. ↑ The Osage Journal, Pawhuska, OK, Thu., Feb. 5, 1903.
  8. ↑ Bartlesville Examiner-Enterprise, Bartlesville, OK, Thu., Aug. 3, 1905.
  9. ↑ The Weekly Examiner, Bartlesville, OK, Sat., Dec. 30, 1905.
  10. ↑ Bartlesville Examiner-Enterprise, Bartlesville, OK, Fri., Apr. 7, 1911.
  11. ↑ Kansas City Journal, Kansas City, MO, Sun., May 16, 1915.
  12. ↑ Morning Examiner, Bartlesville, OK, Sun., Aug 15, 1920.
  13. ↑ Bartlesville Examiner-Enterprise, Bartlesville, OK, Wed., June 3, 1925.
  14. ↑ Bartlesville Examiner-Enterprise, Bartlesville, OK, Mon., June 21, 1926.
  15. ↑ Bartlesville Examiner-Enterprise, Bartlesville, OK, Tue., June 22, 1926.
  16. ↑ Bartlesville Examiner-Enterprise, Bartlesville, OK, Sat., Jan. 8, 1927.
  17. ↑ Morning Examiner, Bartlesville, OK, Sat., Feb. 12, 1927.
  18. ↑ Bartlesville Examiner-Enterprise, Bartlesville, OK, Mon., Jan. 17, 1927.
  19. ↑ Morning Examiner, Bartlesville, OK, Tue., Nov. 22, 1927.
  20. ↑ Morning Examiner, Bartlesville, OK, Wed., Jan. 11, 1928.
  21. ↑ The Daily Oklahoman, Oklahoma City, OK, Sat., Jan. 9, 1988.
  22. ↑ The Daily Oklahoman, Oklahoma City, Thu., Apr. 7, 1988.
  23. ↑ Sapulpa Daily Herald, Sapulpa, OK, Fri., July 22, 1988.
  24. ↑ Tulsa World, Tulsa, OK, Wed., July 27, 1988.
  25. ↑ Tulsa World, Tulsa, OK, Sun., Feb. 19, 1995.
  26. ↑ Tulsa World, Tulsa, OK, Wed., Mar. 2, 1994.
  27. ↑ The Daily Oklahoman, Oklahoma City, Sat., May 21, 1994.
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