Commercial National Bank, Rockford, IL (Charter 11679)
Commercial National Bank, Rockford, IL (Chartered 1920 - Liquidated 1932)
Town History
Rockford is a city in Winnebago County, Illinois, located in the far northern part of the state. Situated on the banks of the Rock River, Rockford is the county seat of Winnebago County (a small portion of the city is located in Ogle County). The largest city in Illinois outside of the Chicago metropolitan area, Rockford is the fourth-largest city in the state and the 171st most populous in the United States. According to 2010 U.S. Census data, the City of Rockford had a population of 152,871, with an outlying metropolitan area population of 348,360. Rockford's population was 145,609 as of 2019, down 5.0% since 2010.
Settled in the mid-1830s, the position of the city on the Rock River made its location strategic for industrial development. In the second half of the 19th century, Rockford was notable for its output of heavy machinery, hardware and tools; by the twentieth century, it was the second leading center of furniture manufacturing in the nation, and 94th largest city. During the second half of the 20th century, Rockford struggled alongside many Rust Belt cities. Since the late 1990s, efforts in economic diversification have led to growth of automotive, aerospace, and healthcare industries, as well as the undertaking of various tourism and downtown revitalization efforts.
Nicknamed the Forest City, Rockford is presently known for various venues of cultural or historical significance, including Anderson Japanese Gardens, Klehm Arboretum, Tinker Swiss Cottage, the BMO Harris Bank Center, the Coronado Theatre, the Laurent House, and the Burpee Museum of Natural History. Its contributions to music are noted in the Mendelssohn Club, the oldest music club in the nation.
Rockford had 11 National Banks chartered during the Bank Note Era, and all 11 of those banks issued National Bank Notes.
Bank History
- Organized February 25, 1920
- Chartered April 16, 1920
- Liquidated April 18, 1932
- Absorbed by 479 (Third National Bank, Rockford, IL)
- Circulation assumed by 479 (Third National Bank, Rockford, IL)
The Commercial National Bank, located at 225 Seventh street in Rockford, was organized in 1920 by J.A. Bowman, Alfred Wessman, Levin Faust, E.D. Reynolds and F.G. Hogland with a paid-in capital of $200,000 and surplus of $50,000. Its first officers were as follows: E.A. Wettergren, president; J.A. Bowman, vice president; J.D. Taylor, cashier; and B.E. Westberg, assistant cashier. The officers of the institution in 1926 were: O.B. Harding, president; J.A. Bowman, vice president; J.D. Taylor, cashier; and B.D. Hogfeldt, assistant cashier.
The bank opened for business on June 1, 1920 and on that date it received deposits amounting to $36,272.67. Its business steadily grew to deposits of 1,068,938.96 in 1926 and plans were underway for a new two-story banking house on the corner of Seventh and Charles Streets. The interior plans called for a counter, somewhat higher than ordinary, giving a clear vision of the entire banking floor while the exterior will be of terra cotta.
Official Bank Title(s)
1: The Commercial National Bank of Rockford, IL
Bank Note Types Issued
A total of $1,604,040 in National Bank Notes was issued by this bank between 1920 and 1932. This consisted of a total of 160,404 notes (119,112 large size and 41,292 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1902 Plain Back 4x10 1 - 29778 1929 Type 1 6x10 1 - 6882
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1920 - 1932):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Illinois Bank Note History
- General information on Rockford (Wikipedia)
- General information on Winnebago County (Wikipedia)
- General information on Illinois (Wikipedia)
Sources
- Rockford, IL, 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
- Francis Murray Huston, Financing an Empire: History of Banking in Illinois (4 volumes) (Chicago: The S. J. Clarke Publishing Company, 1926), Volume 4, pp. 288, 291.