First National Bank, Colman, SD (Charter 6688)

1924 drawing of the First National Bank building (from the cover of a bank Statement of Condition).

First National Bank, Colman, SD (Chartered 1903 - Receivership 1926)

Town History

2007 photo of the old First National Bank building.

Colman is located in Moody County in east-central South Dakota on the border with Minnesota. The town was originally called Allentown, and also known as Sankey, but the name was later changed to honor a local business firm, the Colman Lumber Company. Colman was founded in 1880 when the Milwaukee railroad extended its line to that point, and the Post Office was established in 1881.

During the National Bank Note Era (1863-1935), the population of Colman was 213 in 1900, growing to 535 in 1920 and 488 in 1930. It's highest population was 594 in 2010, and the current population is estimated at 579 (2019).

Colman's first bank was the Colman State Bank, established in 1899, with Michael R. Kenefick as President and Edward R. Kenefick as Cashier.

Colman had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

• Organized Feb 20, 1903
• Chartered Mar 25, 1903
• Succeeded Colman State Bank
• Receivership Aug 19, 1926

Official Bank Title(s)

1: The First National Bank of Colman, SD

Bank Note Types Issued

Series 1902 Red Seal $5 note with pen signatures of L.B. Keith, Cashier and J.J. Questad, Vice President.

1902 Date Back $20 note with stamped signatures of L.B. Keith, Cashier and J.J. Questad, Vice President.

A total of $283,300 in National Bank Notes was issued by this bank between 1903 and 1926. This consisted of a total of 35,540 notes (35,540 large size and No small size notes).

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

Series/Type	Sheet/Denoms	Serial#s
1902 Red Seal	4x5	1 - 1425
1902 Red Seal	3x10-20	1 - 960
1902 Date Back	4x5	1 - 1550
1902 Date Back	3x10-20	1 - 1140
1902 Plain Back	4x5	1551 - 3940
1902 Plain Back	3x10-20	1141 - 2560

Bank Presidents and Cashiers

First National Bank letterhead July 10, 1907.

First National Bank Presidents and Cashiers during the National Bank Note Era (1903 - 1926):

Presidents:

• Michael R. Kenefick, 1903-1905
• William McKenzie Housman, 1906-1908
• J. Kenefick, 1908-1908
• Samuel E. Keith, 1909-1911
• Karl Kenneth Keith, 1912-1916
• Jacob J. Questad, 1917-1919
• Chester H. Rawson, 1920-1926

Cashiers:

• Edward Richard Kenefick, 1903-1908
• Leo Briggs Keith, 1909-1926

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• First National Bank, Colman, SD History (NB Lookup)
• Moody County Bank Note History (BNH Wiki)
• South Dakota Bank Note History (BNH Wiki)

Sources

• Colman, SD, on Wikipedia
• South Dakota Place-Names. (Vermillion, SD: University of South Dakota, 1940).
• South Dakota Towns (Founding and Post Office opening dates). South Dakota State Historical Society.
• 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