Concord National Bank, Concord, NC (Charter 3903)
Concord National Bank, Concord, NC (Chartered 1888 - Closed (Merger) 2008)
Town History
Concord is the county seat and largest city in Cabarrus County, North Carolina. As of the 2020 census, the city had a population of 105,186. In terms of population, the city of Concord is the second-largest city in the Charlotte metropolitan area and is the 10th most populous city in North Carolina. In 1890, the population was 4,339, increasing to 11,820 by 1930.
In 2015, WalletHub ranked Concord as the city with the 16th fastest growing economy in the United States. The city was a winner of the All-America City Award in 2004. Located near the center of Cabarrus County in the Piedmont region, it is 20 miles northeast of Uptown Charlotte. Concord is the home to some of North Carolina's top tourist destinations, including NASCAR's Charlotte Motor Speedway and Concord Mills.
Concord was first settled about 1750 by German and Scots-Irish immigrants. The name Concord means with harmony. Concord is considered a relatively old town by US standards, as it was incorporated in 1806. Today, markers identifying the original town limits can be seen in the downtown area.
As county seat, Concord became a center of trade and retail for the cotton-producing region, especially on court days. The downtown would be crowded with farmers and townfolk, in addition to lawyers and their clients. During the antebellum era, wealth was built by planters through the cultivation of cotton as a commodity crop; the work was done by enslaved African Americans.
Concord had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized May 26, 1888
- Chartered June 26, 1888
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into Fifth Third Bank, N.A. in Nashville, TN June 7, 2008
In April 1888, the stockholders organized with the following officers: J.M. Odell, president; D.F. Cannon, vice president, and D.B. Coltrane, cashier. Messrs. Elam King, G.M. Lore, J.W. Cannon and W.R. Odell were elected directors. Opening of the new Concord National Bank was expected Monday, July 2, for the transaction of business. The bank opened on July 18, 1888 with capital stock of $50,000 in an excellent building, three stories high, the first story of which was for the bank, on the site of the American Hotel. Mr. D.B. Coltrane the cashier was a new comer to Concord, but had already secured the esteem of the community.
In January 1889, the newly erected St. Cloud Hotel opened in Concord and was a three-story brick building, 60 X 77 feet, built by A.H. Propst. On the first floor, there were four large front rooms, a ladies entrance, and the dining room. The room on the west corner was the neat and substantial apartment of the Concord National Bank. The owners of the St. Cloud were J.M. Odell, W.R. Odell, J.W. Cannon, D.F. Cannon, and G.M. Lore.
On May 29, 1904, David F. Cannon passed away in the Dr. George Walker Hospital of Baltimore. D.F. Cannon was one of the original members of the firm of Cannon, Fetzer & Wadsworth, then of Cannon's & Fetzer and later of the Cannon & Fetzer Co. Since the organization of the Cabarrus Savings Bank, he had been its President. He was president of the Cannon Manufacturing Co., and the Cabarrus Cotton Mill.
On Tuesday, January 9, 1906, the stockholders re-elected the same board of directors for another year. The directors were: J.M. Odell, W.R. Odell, D.B. Coltrane, J.S. Harris, Elam King, W.H. Lilly and J.P. Allison, with J.M. Odell, president; W.H. Lilly, vice president; D.B. Coltrane, cashier; L.D. Coltrane, assistant cashier; and J.M. Hendrix, bookkeeper.
On January 8, 1907, Captain J.M. Odell resigned as president of the Concord National Bank and was succeeded by Mr. D.B. Coltrane. This change was made at the annual meeting of the directors. Capt. Odell was elected vice president and Mr. L.D. Coltrane succeeded his father as cashier. Mr. L.D. Coltrane, the new cashier, was with the bank since the beginning and had been assistant cashier for several years. The old board of directors was re-elected. Mr. W. Reece Johnson was made a director to succeed the late Dr. W.H. Lilly, who was at death a director and the vice president. The bank did a fine business during 1906, all of its affairs being in a most satisfactory condition.
In January 1911, stockholders elected the following officers: D.B. Coltrane, president; L.D. Coltrane, cashier; J.M. Hendrix, assistant cashier; and John M. Cook, bookkeeper. The directors were: Messrs. D.B. Coltrane, L.D. Coltrane, J.P. Allison, J.S. Harris, E. King, W.R. Johnson and M.L. Buchanan.
Official Bank Title(s)
1: The Concord National Bank, Concord, NC
Bank Note Types Issued
A total of $2,010,910 in National Bank Notes was issued by this bank between 1888 and 2008. This consisted of a total of 174,190 notes (144,984 large size and 29,206 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1882 Brown Back 4x5 1 - 5100 1882 Brown Back 3x10-20 1 - 3483 1902 Date Back 3x10-20 1 - 8575 1902 Plain Back 3x10-20 8576 - 27663 1929 Type 1 6x10 1 - 3118 1929 Type 1 6x20 1 - 828 1929 Type 2 10 1 - 4543 1929 Type 2 20 1 - 987
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1888 - 2008):
Presidents:
- John Milton Odell, 1888-1906 NOTE: A featured biography is available
- Daniel Branson Coltrane, 1907-1935
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- North Carolina Bank Note History
- General information on Concord (Wikipedia)
- General information on Cabarrus County (Wikipedia)
- General information on North Carolina (Wikipedia)
Sources
- Concord, NC, 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
- The Standard, Concord, NC, Fri., Apr. 20, 1888.
- The Charlotte Observer, Charlotte, NC, Wed., June 27, 1888.
- The Concord Times, Concord, NC, Fri., Jan. 4, 1889.
- The Concord Times, Concord, NC, Tue., May 31, 1904.
- The Concord Daily Tribune, Concord, NC, Thu., Jan. 11, 1906.
- The Concord Daily Tribune, Concord, NC, Tue., Jan. 8, 1907.
- The Concord Daily Tribune, Concord, NC, Tue., Jan. 10, 1911.