Colonial National Bank/Colonial-American NB, Roanoke, VA (Charter 11817)

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The old Colonial National Bank on the corner of Campbell Avenue and Jefferson Street, ca2024. Courtesy of Google Maps

Colonial National Bank/Colonial-American NB, Roanoke, VA (Chartered 1920 - Closed (Merger) 1989)

Town History

1920 advertisement for the Colonial National Bank located in the Terry Building.[1]

Roanoke is an independent city in the Commonwealth of Virginia, located in Southwest Virginia along the Roanoke River, in the Blue Ridge range of the greater Appalachian Mountains. Roanoke is approximately 50 miles north of the Virginia–North Carolina border and 250 miles southwest of Washington, D.C., along Interstate 81. At the 2020 census, Roanoke's population was 100,011, making it the most-populous city in Virginia west of the state capital Richmond. It is the primary population center of the Roanoke metropolitan area, which had a population of 315,251 in 2020. In 1910 the population was 34,874 growing to 69,206 by 1930.

Roanoke is known for the Roanoke Star, an 88.5-foot-tall illuminated star that sits atop a mountain within the city's limits and is the origin of its nickname, "The Star City of the South". Other points of interest include the Hotel Roanoke, a 330-room Tudor Revival structure built by N&W in 1882, the Taubman Museum of Art, designed by architect Randall Stout, and the city's farmer's market, the oldest continuously operating open-air market in the state. The Roanoke Valley features 26 miles of greenways with bicycle and pedestrian trails, and the city's location in the Blue Ridge Mountains provides access to numerous outdoor recreation opportunities.

Roanoke had 10 National Banks chartered during the Bank Note Era, and all 10 of those banks issued National Bank Notes.

Bank History

Postcard of the Terry Building ca1900s. In 1890, the Terry Building Company contracted with F.J. Amweg, engineer and contractor of Philadelphia. The Terry building was seven stories in height with 75 feet on Jefferson Street and 100 feet on Campbell Avenue and cost $90,000.[2] The Roanoke Trust, Loan and Safe Deposit Company was the first of many banks to occupy this building. Courtesy of Adam Stroup

On August 16, 1920, the directors of the Colonial Bank and Trust Company announced that the comptroller of the currency had granted them permission to operate as a national bank and that a charter had been issued in the name of the Colonial National Bank of Roanoke. The change from a state to a national bank was brought about without change in personnel in either officers of directors. The Colonial Bank and Trust Co. was organized in 1910 and on December 31st of that year its resources were about $500,000. Its report of June 30, 1920, showed resources of over $2,000,000 with capital, surplus and profits aggregating $500,000. The growth of the bank during the past two years necessitated extensive alterations in its quarters in the Terry Building resulting in doubling its floor space and adding an additional vault for safe deposit boxes. The officers of the Colonial National were: R.H. Angell, president; W.W. Boxley, vice president; H.D. Guy, vice president; E.W. Tinsley, vice president and cashier; Geo. N. Dickinson and W.D. Hall, assistant cashiers.[3]

On Wednesday, October 6, 1920, stockholders of the Colonial National Bank met and ratified the agreement with the Liberty National Bank which called for the merger of the two institutions. On Tuesday, stockholders of the Liberty National Bank met and voted in favor of the proposed merger. The merger was subject to the approval of the comptroller of the currency. Repairs and improvement were being made at the Colonial Bank and when completed, considerably more space would be available at that institution.[4]

The consolidation was effected Saturday afternoon, November 13, 1920, when a telegram was received by the officers of the Colonial National from John Skelton Williams, comptroller of the currency, authorizing the merger. Under the consolidation, the Continental would have 31 directors. At 5:15 p.m., packed snugly in a Hudson limousine with four secret service men, $900,000 in securities were whisked away from the little Liberty National Bank building. About 6 p.m. the work of moving papers, books and money finished. The currency was carried in a huge tub which required four men to lift into the automobile. The president, cashier and one of the directors of the Liberty National Bank assisted in carrying the currency into the vault of its new home. The last load consisted of the books of the Liberty bank which were piled up on the floor and in the seat of the limousine and guarded by one of the secret service men. The following were the newly chosen directors from the Liberty National: Marshall H. Davis, R.M. Garrett, Jr., G.R. Hash, B.R. Ikenbery, I. Levin, E.S. Moore, J.M. McNellis, O.D. Oakey, M.J. Patsel, J.B. Stringfellow, N.J. Schlossberg, J.W. Simmerman, E.A. Thurman, and T.R. Tillett. The directors of the Colonial bank were R.H. Angell, W.W. Boxley, J.T. Bandy, W.G. Baldwin, J.V. Boxley, Edward S. Barnitz, L.J. Boxley, Paul C. Buford, Lawrence S. Davis, J.H. Dunkley, H.D. Guy, D.R. Hunt, J.H. Marstellar, E.W. Poindexter, J.T. Strickland, J.T. Towels, and E.W. Tinsley. The consolidated bank would have capital, surplus and profits of $850,000, deposits approximating $2 million, and total resources of about $3 million.[5]

In 1927, after only 35 years of use, the bank decided to raze the increasingly out of fashion Terry Building and in its place build a 12-story structure in the Neoclassical style. The new building was designed by Frye and Stone, a local architecture firm. In January 1927, plastering of the new Colonial National Bank costing $500,000 was in progress. Frye & Stone were the architects and J.F. Barbour & Sons the general contractors. The building was of granite to the second story and the remainder was white face brick. Among the features were the use of incombustible, light-weight gypsum tile which also helped insulate the building from excessive summer heat. The gypsum tile and different kinds of plaster were all Virginia-made, coming from the Plasterco, Virginia, mill of the United States Gypsum Company.[6][7] May 5th was set as the date for the formal opening of the new home for the inspection of the public. Business would be conducted in the new building on Monday, May 2d. Temporary offices of the Colonial National were in the building formerly occupied by the Liberty Trust Company on Jefferson Street. The new building was equipped with Otis high speed, gearless elevators. The bank would occupy the entire main and mezzanine floors. The main banking room, 54 by 90 feet, was finished in Botticino Italian marble and ornamental bronze. The vaults were constructed by the Herring-Hall-Marvin Safe Company. The vault door was 16 1/2 inches thick, weighing 17 tons, made of burn-resisting chrome and open hearth steel. The walls were constructed of reinforced, armored concrete, steel-lined and finished with highly polished steel plate. A fire-proof book vault for the use of the bookkeepers was situated in the basement along with another large vault providing storage for bulky articles and also for records of the bank.[8]

At the close of business on December 31, 1934, the Colonial-American National Bank had common stock of 10,000 shares, par $100 or $1,000,000; surplus $200,000; undivided profits $23,351.21; reserves $72,427.79; circulation $1,000,000; total deposits $4,164,777.78; and total liabilities of $7,490,556.78. The Real Estate Mortgage Company of Roanoke was an affiliate of the Colonial-American National with D.P. Hylton as secretary.[9]

  • 08/14/1970 Changed Institution Name to The Colonial-American National Bank of Commerce.
  • 08/15/1970 Main Office moved to 200-2 South Jefferson Street, Roanoke, VA 24008.
  • 10/29/1974 Changed Institution Name to Colonial-American National Bank.
  • 10/29/1974 Main Office moved to 7337 Williamson Road, Roanoke County, VA 24019.
  • 01/01/1982 Changed Institution Name to Colonial American National Bank.
  • 01/01/1982 Acquired Colonial American Bank - Lynchburg (FDIC #22290) in Lynchburg, VA.
  • 05/01/1989 Merged and became part of Crestar Bank (FDIC #832) in Richmond, VA.
  • 11/15/1996 Merged and became part of Crestar Bank (FDIC #12543) in Vienna, VA.
  • 01/01/2000 Merged and became part of SunTrust Bank (FDIC #867) in Atlanta, GA.
  • 12/07/2019 Merged and became part of Branch Banking and Trust Company (FDIC #9846) in Winston Salem, NC.

Official Bank Titles

1: The Colonial National Bank of Roanoke, VA

2: The Colonial-American National Bank of Roanoke, VA (6/29/1929)

Bank Note Types Issued

1902 Plain Back $20 bank note with stamped signatures of E.W. Tinsley, Cashier and R.H. Angell, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note with printed signatures of Geo. N. Dickinson, Cashier and E.W. Tinsley, President. The Government Printing Office (GPO) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $20 bank note with printed signatures of Geo. N. Dickinson, Cashier and E.W. Tinsley, President. Barnhart Brothers & Spindler (BBS) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

A total of $6,624,970 in National Bank Notes was issued by this bank between 1920 and 1935. This consisted of a total of 537,654 notes (244,748 large size and 292,906 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 3x10-20 1 - 61187
2: 1929 Type 1 6x10 1 - 29126
2: 1929 Type 1 6x20 1 - 8150
2: 1929 Type 2 10 1 - 54494
2: 1929 Type 2 20 1 - 14756

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1920 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Roanoke, VA, 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 World-News, Roanoke, VA, Fri., Aug. 27, 1920.
  2. ↑ The Roanoke Times, Roanoke, VA, Fri., Sep. 26, 1890.
  3. ↑ The Roanoke Times, Roanoke, VA, Wed., Sep. 8, 1920.
  4. ↑ The World-News, Roanoke, VA, Wed., Oct. 6, 1920.
  5. ↑ The World-News, Roanoke, VA, Mon., Nov. 15, 1920.
  6. ↑ Daily Press, Newport News, VA, Sun., Oct. 23, 1927.
  7. ↑ The World-News, Roanoke, VA, Sat., Jan. 22, 1927.
  8. ↑ The World-News, Roanoke, VA, Fri., Apr 29, 1927.
  9. ↑ The Roanoke Times, Roanoke, VA, Wed., Jan. 9, 1935.
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