Citizens National Bank/First NB, Greenwood, AR (Charter 10983)
Citizens National Bank/First NB, Greenwood, AR (Chartered 1917 - Liquidated 1935)
Town History
Greenwood is a city in and one of the two county seats of Sebastian County, Arkansas. It is the fifth largest municipality in the Fort Smith metropolitan area with a population of 9,516 according to the 2020 US Census. In 1920, the population was 1,374, declining to just 591 in 1930.
Greenwood was founded in 1851 when its location was selected for the first county seat of Sebastian County. The town was named for Judge Alfred Burton Greenwood. Judge Greenwood had been elected the previous year to serve as Circuit Judge over ten Northwest Arkansas counties. The first court house was a log structure, replaced in 1865 by a frame court house which was built in the center of the public square. This courthouse later burned and in 1916 the courthouse was relocated south of the square. Since that time the square has become a city park and site of many festivals, city picnics and celebrations.
Greenwood had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized March 24, 1917
- Chartered April 27, 1917
- 2: Liquidated September 24, 1935
- 2: Absorbed by Farmers Bank of Greenwood
On Friday, August 9, 1907, articles of incorporation were filed with the secretary of state for the Farmers' Bank of Greenwood, capital stock $25,000. The incorporators were W.L. Seamans, president; C.R. Owens, vice president; C.R. Owsley, secretary; R.T. Powell, treasurer; John H. Holland, C.C. Stewart, R.T. Parnell, and G.C. Parkard.[1] On Monday, September 23rd, the Farmers Bank of Greenwood opened for business in temporary space in C.D. Murphy's furniture store.[2] The furniture store was located on the northwest corner of the town square and the bank had two employees, W.N. Wilkinson, cashier and Henry P. Bell, clerk. The first depositor was Foy Murphy, a small lad beginning school and the son of C.D. Murphy, who left 38 cents.
On March 24, 1917, the Citizens National Bank was organized with a capital of $25,000 and a surplus fund of $2,500. I.H. Nakdimen of Fort Smith was chosen president; Frank G. Gunther, vice president; and Verne R. Brownfield, cashier. All the stockholders, 28 in number, except Mr. Nakdimen were residents of Greenwood and vicinity.[3] Mr. Brownfield had been the cashier of the Bank of Sequoyah of Muddrow, Oklahoma in 1915 with Mr. Nakdimen and his father, A.W. Brownfield.[4]
In 1917 the Farmers Bank purchased the assets of the Sebastian State Bank, and in 1935 The First National Bank in Greenwood.
I.H. Nakdimen, was the president and founder of many banks. In addition to having founded the Citizens National Bank of Greenwood, Arkansas, he founded the following banks in Eastern Oklahoma and Arkansas: First National Bank, Muldrow, Okla.; Bank of Sequoyah, Muldrow, Okla.; Sallisaw Bank and Trust Company, Sallisaw, Okla.; Bank of Vian, Vian, Okla.; Farmers Bank, Gore, Okla.; Farmers Bank, Fort Gibson, Okla.; Citizens National Bank, Greenwood, Ark.; First National Bank, Mansfield, Ark.; Farmers National Bank, Fort Gibson, Okla.; Bank of Braggs, Braggs, Okla.; First National Bank, Eufaula, Oklahoma: and the City National Bank, Fort Smith, Ark. Since 1894 Mr. Nakdimen was actively engaged in business at different points between Fort Smith and Muskogee, and he had organized a bank in every town lying between Fort Smith and Wagoner, and largely contributed to the growth of every town in which he engaged in business. Back in the early days of 1911, Mr. Nakdimen advocated and worked for a Guaranty Law for banks, which was the forerunner of the present-day Deposit Insurance. He spoke at the State Bankers' convention in Oklahoma City in 1911 on the subject of a State Guaranty Law.[5]
On Thursday, March 2, 1978, Betty J. Wilkinson of Ozark, president of the Farmers Bank of Greenwood, was appointed to the state Banking Board for a five-year term by Gov. David Pryor. She replaced Dorman Bushong of Rogers whose term expired. Ms. Wilkinson was recommended by the Arkansas Bankers' Association.[6]
On Monday, November 11, 1991, the death of Means Wilkinson, former speaker of the Arkansas House of Representatives, prompted officials to lower the state flag to half-staff at the state capitol. Lt. Gov. Jim Guy Tucker, acting as governor in the absence of Gov. Bill Clinton campaigning in Michigan, issued the proclamation. Wilkinson, a lifelong resident of Greenwood, first took a seat in the House in 1933. He served as House speaker in 1941-42. He was the former publisher of the Greenwood Democrat and chairman of the board of Farmers Bank of Greenwood. He was the son of W.N. Wilkinson, cashier of the Farmers Bank when it opened in 1907. His wife, Betty, and three sons survived him.[7]
The Farmers Bank of Greenwood (FDIC #1296) is still in operation [as of August 2025] and is recognized for its financial strength and its commitment to personal service. With assets of nearly $200 million, Farmers Bank is large enough to provide a multitude of financial services and yet small enough to provide personal banking to its customers.
Official Bank Titles
1: The Citizens National Bank of Greenwood, AR
2: First National Bank in Greenwood, AR (12/6/1919)
Bank Note Types Issued
A total of $338,120 in National Bank Notes was issued by this bank between 1917 and 1935. This consisted of a total of 33,812 notes (23,768 large size and 10,044 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1: 1902 Plain Back 4x10 1 - 1375 2: 1902 Plain Back 4x10 1 - 4567 2: 1929 Type 1 6x10 1 - 1306 2: 1929 Type 2 10 1 - 2208
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1917 - 1935):
Presidents:
Cashiers:
- Verne Russell Brownfield, 1917-1919
- Jess May McConnell, 1920-1930
- Verne Russell Brownfield, 1931-1934
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- Citizens National Bank/First NB, Greenwood, AR History (NB Lookup)
- Arkansas Bank Note History (BNH Wiki)
Sources
- Greenwood, AR, 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
- Farmers Bank of Greenwood, (FDIC #1296)
- ↑ Daily Arkansas Gazette, Little Rock, AR, Sat., Aug. 10, 1907.
- ↑ Fort Smith Times, Fort Smith, AR, Tue., Sep. 24, 1907.
- ↑ Daily Arkansas Gazette, Little Rock, AR, Mon., Mar. 26, 1917.
- ↑ The Democrat-American, Sallisaw, OK, Fri., Jan. 1, 1915.
- ↑ The Democrat-American, Sallisaw, OK, Thu., Mar. 31, 1938.
- ↑ The Daily World, Helena, AR, Fri., Mar. 3, 1978.
- ↑ Batesville Guard, Batesville, AR, Thu., Nov. 14, 1991.