First National Bank, Grand Rapids/Wisconsin Rapids, WI (Charter 1998)

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The First National Bank of Wisconsin Rapids located at Grand and Third Avenues, Wisconsin Rapids, Wisconsin, ca2020.
The First National Bank of Wisconsin Rapids located at Grand and Third Avenues, Wisconsin Rapids, Wisconsin, ca2020. Courtesy of Google Maps

First National Bank, Grand Rapids/Wisconsin Rapids, WI (Chartered 1872 - Closed (Merger) 1999)

Town History

Photo of the First National Bank's "Triangle" building located at the apex of First and Second Streets. The building was still standing (ca2022) and is known as the Flatiron Building. In 1922 the new bank was opened at Grand and Third Avenues.
Photo of the First National Bank's "Triangle" building located at the apex of First and Second Streets. The building was still standing (ca2022) and is known as the Flatiron Building. In 1922 the new bank was opened at Grand and Third Avenues. Courtesy of Tom Snyder

Wisconsin Rapids is a city in and the county seat of Wood County, Wisconsin. The population was 18,877 at the 2020 census. In 1880, the population was 1,350 growing to 8,726 by 1930.

The American Indians called the area "Ahdawagam", meaning "Two-sided Rapids". Although Europeans began to settle this area in the 1830s, Wisconsin Rapids has been known by this name only since 1920. Prior to that, the community was divided by the Wisconsin River, with the west side incorporated as Centralia and the east side as Grand Rapids. The two cities merged in 1900, with the entire community taking the name Grand Rapids. The name was changed in 1920 to avoid mail and other goods from being misdirected to the much better known Grand Rapids, Michigan.

Known for its papermaking history, Wisconsin Rapids is also an important location for the cranberry industry. Wisconsin Rapids is the corporate home of the international educational software company, Renaissance Learning.

From its founding in 1894, Wisconsin Rapids was home to the corporate headquarters of Consolidated Papers, Inc., which was acquired by the Finnish company Stora Enso in early-2000. In 2007, NewPage acquired the paper production facility. In 2015, Verso Corporation acquired the mill.

Grand Rapids/Wisconsin Rapids had three National Banks chartered during the Bank Note Era (1863-1935), and all three issued National Bank Notes.

Bank History

  • Organized April 24, 1872
  • Chartered June 18, 1872
  • Bank was Open past 1935
  • For Bank History after 1935 see FDIC Bank History website
  • Merged into Firstar Bank, N.A. in Cincinnati, OH, October 15, 1999

In 1871, a stage coach from New Lisbon arrived in the struggling town known as Grand Rapids with a precious package for delivery to Jere D. Witter, pioneer businessman and financier of this section of the state. In the package was five thousand dollars in gold destined to be used by this pioneer to establish the first bank in Wood County. Mr. Witter opened a private bank with the money and the bank immediately flourished. Within the year, the institution was organized as the First National Bank with capitalization of $50,000. The bank's doors swung open for business on June 18, 1872 with George A. Neeves as the first president. During the years, the bank was housed in three different buildings. The first was a small building located at the bend of First Street north, opposite the Witter Hotel. Later the triangle building, now the First Bond and Mortgage Company was erected. In 1922 a fine new banking house at Grand and Third Avenues was formally opened. The sister institution, the Bank of Grand Rapids, which was merged with the First National in 1922, was founded on May 1, 1888 by Jere D. Witter with an original capitalization of $5,000. That bank was located in the center of the second block on Grand Avenue, but was razed to make room for the Mead-Witter Building.

At the end of December 1872, the bank reported resources of $54,650.36 in Loans and Discounts, $50,000 in U.S. Bonds to secure Circulation, $6,365.51 in cash and liabilities of $50,000 in capital stock and individual deposits of $11,977.01, balancing at $115,517.81. W.H. Cochran was cashier who submitted the report with directors J.D. Witter, H. Lefebvre, and Geo. A. Neeves attesting to its correctness.

In 1905, the officers were Geo W. Mead, president; Edward Lynch, vice president; Earle Pease, cashier; and A.G. Miller, assistant cashier. The directors were Dr. F. Pomainville, W.J. Conway, Geo. W. Mead, Edward Lynch, and I.P. Witter.

On Tuesday, January 11, 1921, the stockholders re-elected the same directors which included L.M. Alexander, E. Roenius, F.J. Wood, A.E. Bennett, Judson G. Rosebush, L.E. Nash, T.E. Mullen, O.R. Roenius and Guy O. Babcock. The directors then re-elected the officers and they were: F.J. Wood, president; L.M. Alexander, vice president; Guy O. Babcock, cashier and E.C. Wittig, assistant cashier. I.P. Witter was also president of the Bank of Grand Rapids which was owned by the First National Bank. E.B. Redford and W.J. Conway were elected vice presidents of the state bank and W.J. Taylor was re-elected as cashier with Henry Demitz and M.J. Cepress, assistant cashiers.

In January 1923, the officers were F.J. Wood, president; L.M. Alexander, vice president; Guy O. Babcock, cashier; and E.C. Wittig, assistant cashier. The directors were L.M. Alexander, E. Roenius, A.E. Bennett, Judson G. Rosebush, L.E. Nash, T.E. Mullen, O.R. Roenius, and Guy O. Babcock.

Photos of the officers for 1932 published as part of the Sixtieth Anniversary celebration. From Left to Right, Isaac P. Witter, president; W.J. Taylor, executive vice president; and Henry C. Demitz, cashier.
Photos of the officers for 1932 published as part of the Sixtieth Anniversary celebration. From Left to Right, Isaac P. Witter, president; W.J. Taylor, executive vice president; and Henry C. Demitz, cashier.

On August 15, 1931, one of the most important financial transactions in central Wisconsin was consummated at 2:30 o'clock when the First National Bank and the Wood County National Bank purchased the Citizens National Bank of Wisconsin Rapids, and announced that they had jointly appointed D.B. Philleo trustee, to liquidate the affairs of the Citizens bank. The purchase involved the assuming of all the assets of the bank and the assuming of all of the liabilities, which guaranteed payment in full in cash at either the First National or the Wood County National to depositors on commercial, savings or certificates of deposit. Depositors also had the option of placing their deposits from the Citizens bank into accounts at either of the other two banks. It was stated authoritatively that both the First National and the Wood County National were in position to pay. The officers of the Wood County National Bank were Frank J. Wood, president; L.M. Alexander, vice president; and Guy O. Babcock, vice president and cashier. The officers of the First National were Isaac P. Witter, president; George W. Mead, director; and W.J. Taylor, cashier. In January 1932, the officers were Isaac P. Witter, president; W.J. Taylor, executive vice president; E.B. Redford, vice president; Henry C. Demitz, cashier; W.G. Schroedel and E.C. Brenner, assistant cashiers; and Ward W. Johnson, manager of the savings department. Henry C. Demitz was elected by the stockholder to fill the vacancy on the board caused by the resignation of W.J. Conway. The directors were C.D. Searles, E.B. Redford, P.C. Daly, George W. Mead, Henry C. Demitz, Isaac P. Witter, R.F. Johnson, and W.J. Taylor.

Official Bank Title(s)

1: The First National Bank of Grand Rapids, WI

2: The First National Bank of (9/23/1920), Wisconsin Rapids, WI

Bank Note Types Issued

1875 $5 bank note with pen signatures of E.T. Harmon, Cashier and J.D. Witter, President
1875 $5 bank note with pen signatures of E.T. Harmon, Cashier and J.D. Witter, President. Courtesy of Heritage Auctions, www.ha.com
1882 Brown Back $10 bank note with pen signatures of Earle Pease, Cashier and George W. Mead, President. There's an annotation in the top margin, "annotated first bill I ever signed and dated July 25, 1905."
1882 Brown Back $10 bank note with pen signatures of Earle Pease, Cashier and George W. Mead, President. There's an annotation in the top margin, "annotated first bill I ever signed and dated July 25, 1905." Courtesy of Tom Snyder
1882 Date Back $20 bank note with pen signatures of Earle Pease, Cashier and George W. Mead, President.
1882 Date Back $20 bank note with pen signatures of Earle Pease, Cashier and George W. Mead, President. Courtesy of Heritage Auctions, www.ha.com
1902 Date Back $20 bank note with pen signatures of A.G. Miller, Cashier and Earle Pease, Vice President.
1902 Date Back $20 bank note with pen signatures of A.G. Miller, Cashier and Earle Pease, Vice President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $20 bank note with pen signatures of W.J. Taylor, Cashier and Isaac P. Witter, President. This is a Large Size replacement note.
1902 Plain Back $20 bank note with pen signatures of W.J. Taylor, Cashier and Isaac P. Witter, President. This is a Large Size replacement note. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note with printed signatures of Henry C. Demitz, Cashier and Isaac P. Witter, President.
1929 Type 1 $20 bank note with printed signatures of Henry C. Demitz, Cashier and Isaac P. Witter, President. Courtesy of Heritage Auctions, www.ha.com

A total of $2,213,480 in National Bank Notes was issued by this bank between 1872 and 1935. This consisted of a total of 203,218 notes (167,260 large size and 35,958 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: Original Series 3x1-2 1 - 1800
1: Original Series 4x5 1 - 2600
1: Series 1875 4x5 1 - 5155
1: 1882 Brown Back 3x10-20 1 - 2810
1: 1882 Date Back 3x10-20 1 - 1121
1: 1902 Date Back 3x10-20 1 - 4100
1: 1902 Plain Back 3x10-20 4101 - 10000
2: 1902 Plain Back 3x10-20 1 - 18329 Plate was approved Dec. 27, 1920
2: 1929 Type 1 6x10 1 - 4713
2: 1929 Type 1 6x20 1 - 1280

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1872 - 1935):

Presidents:

Cashiers:

Other Bank Note Signers

  • Earle Pease signed notes as Vice President.
  • There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Grand Rapids/Wisconsin Rapids, WI, Wikipedia, https://en.wikipedia.org/wiki/Grand_Rapids/Wisconsin_Rapids,_Wisconsin
  • 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
  • Wood County Reporter, Grand rapids, WI., Thu., Jan. 9, 1873.
  • Wood County Reporter, Grand Rapids, Tue., Aug. 8, 1905.
  • The Daily Tribune, Wisconsin Rapids, WI, Wed., Jan. 12, 1921.
  • The Daily Tribune, Wisconsin Rapids, WI, Sat., Jan. 6, 1923.
  • The Daily Tribune, Wisconsin Rapids, WI, Wed., Jan. 13, 1932.
  • The Daily Tribune, Wisconsin Rapids, WI, Sat., June 18, 1932.
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