First National Bank, Huntsville, AL (Charter 4067)

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Postcard of the First National Bank of Huntsville, Alabama.
Postcard of the First National Bank of Huntsville, Alabama. Courtesy of Adam Stroup

First National Bank, Huntsville, AL (Chartered 1889 - Closed (Merger) 1985)

Town History

The old First National Bank of Huntsville, at West Side Square & Fountain Circle Southwest, ca2023.
The old First National Bank of Huntsville, at West Side Square & Fountain Circle Southwest, ca2023. Courtesy of Google Maps

Huntsville is a city in Madison County and Limestone County, Alabama, United States, with a small portion extending into Morgan County. It is the county seat of Madison County. Located in the Appalachian region of northern Alabama, Huntsville is the most populous city in the state.

Huntsville was founded within the Mississippi Territory in 1805 and became an incorporated town in 1811. When Alabama was admitted as a state in 1819, Huntsville was designated for a year as the first capital. Its major growth has taken place since World War II. During the war, the Army established Redstone Arsenal in the vicinity with a chemical weapons plant, and nearby related facilities. After the war, additional research was conducted at Redstone Arsenal on rockets, followed by adaptations for space exploration. NASA's Marshall Space Flight Center, the United States Army Aviation and Missile Command, and most recently the FBI's operational support headquarters all came to be located at nearby Redstone Arsenal.

The Huntsville Depot, completed in 1860, is the oldest extant railroad depot in Alabama and one of the oldest extant depots in the United States. The United States Space & Rocket Center features the United States Space Camp, Aviation Challenge, and the only Saturn V rocket designated a National Historic Landmark.

The city's population was 215,006 at the 2020 census. The Huntsville metropolitan area's population was 491,723 in 2020, making it the second most populous metropolitan area in the state after the Birmingham metropolitan area. In 1890 the population was 7,995, growing to 11,554 by 1930.

Huntsville had four National Banks chartered during the Bank Note Era, and all four of those banks issued National Bank Notes. The banks were the National Bank of Huntsville (Charter 1560), the First National Bank (Charter 4067), Farmers and Merchants National Bank (Charter 4689), and the Henderson National Bank (Charter 8765).

Bank History

The Bank of the State of Alabama was created in 1824. In 1837 and 1838, a building was constructed by the State of Alabama to house "The Branch of the Bank of the State of Alabama at Huntsville," and cost the state $76,000. The commissioner upon completion said the building was not done extravagantly, nor with parsimony, but in a manner befitting the great State of Alabama. A requirement of the times was that the cashier live in the rooms above the counting room of the bank, presumably for the protection of the funds of the bank. An apartment at the rear of the bank building was erected for the cashier's house slaves. Stephen S. Ewing was the president and Theophilus Lacy the cashier of this branch State bank. In 1854, the state went out of the banking business and the branch of the Bank of the State of Alabama at Huntsville was succeeded by the Northern Bank of Alabama, a private corporation of which James J. Donegan was president and Theo. Lacy, cashier. The Northern Bank of Alabama was succeeded on July 28, 1865 by the National Bank of Huntsville with J.H. Mastin, president; W.C. Rehren, cashier; and James H. Mastin, James J. Donegan, George P. Beirne, and Joseph W. Burkeas, directors. In 1889, the National Bank of Huntsville was succeeded by The First National Bank of Huntsville.

On July 3rd, 1889, the acting comptroller of the currency authorized the First National Bank of Huntsville to commence business. The officers were James R. Stevens, president and Joseph Martin, cashier. The bank opened for business on July 5th, with capital stock, all paid in, of $125,000. The bank occupied the building formerly used by the National Bank of Huntsville. 

Mr. Martin was appointed cashier of the National Bank of Huntsville in 1874, succeeding Theo. Lacy, deceased.  He was educated in the business in the Bank of England.  He sold his residence on the corner of Eustis and Lincoln Streets to Mrs. Johnson, late of Mississippi, for $5,000, and moved his family into the bank while Mr. Lacy's family would go to the Phychon House on Franklin Street.

In January 1893, the stockholders elected the following directors: J.R. Stevens, W.H. Echols, James H. Mastin, M.J. O'Shaughnessey, O.B. Patton, Daniel Coleman, and A.S. Fletcher. The officer were re-elected as follows: J.R. Stevens, president; Wm. H. Echols, vice president; Joseph Martin, cashier; and Erskine Mastin, teller.

In January 1902, shareholders re-elected directors and all of the old officers as follows: Major W.H. Echols, president; A.S. Fletcher, vice president; O.B. Patton, cashier; J.R. Stevens, Jr., assistant cashier. The directors were A.S. Fletcher, R.E. Spragins, W.H. Echols, O.B. Patton, Daniel Coleman, V.K. Hall, and Robt. S. Pulley.

On Tuesday, January 12, 1904, shareholders elected the following directors: W.H. Echols, A.S. Fletcher, R.E. Spragins, Ed L. Pully, O.B. Patton, Daniel Coleman, and Miss Virginia Hall.

In January 1908, the shareholders elected to following directors: W.H. Echols, A.S. Fletcher, O.B. Patton, W.H. Fletcher, Ed. L. Pulley, J.N. Hairston, and R.E. Spragins. The officers were re-elected as follows: W.H. Echols, president; R.E. Spragins, first vice president and acting president during Major Echols' illness; A.S. Fletcher, second vice president; and O.B. Patton, cashier. The same office force was retained including R.P. Weeden, teller; Harry Landman, bookkeeper; and Houston Grizzard, collector.

In 1909, upon the death of William H. Echols and Oliver B. Patton which occurred close together, Robert E. Spragins was elected president and Frank Sugg, cashier. The directors were Shelby S. Fletcher, James E. Butler, Jere Murphy, Luke Matthews, Virginia K. Hall, Frank Sugg, and Robert E. Spragins.

In 1922, the officers were Robert E. Spragins, president; James E. Williams, vice president; R. Semmes, cashier; and H.C. Landman, assistant cashier. The directors were W.E. Drake, S.S. Fletcher, J.E. McCaleb, Jere Murphy, M.B. Spragins, R.E. Spragins, and J.E. Williams. The bank had capital $100,000, surplus $125,000, and undivided profits, $50,483.50.

Marion Beirne Spragins died Thursday, May 24, 1973 in a Huntsville Hospital. Mr. Spragins, 80, succeeded his father as president of the First National bank in 1935 and served until 1963 when he became chairman of the board of directors. He became chairman emeritus of the board in 1968. A native of Madison County, he was a graduate of the University of Alabama from which he received an honorary doctor of laws degree in 1965. He was instrumental in the establishment of the University of Alabama at Huntsville and later in securing funds for the introduction of a nursing program. He was a member of the Newcomen Society of North American, Associated Industries of Alabama and served as a member of the board of the Birmingham office of the Federal Reserve Board from 1943-1949.

Official Bank Title(s)

1: The First National Bank of Huntsville, AL

Bank Note Types Issued

1882 Brown Back $10 bank note with stamped signatures of O.B. Patton, Cashier and W.H. Echols, President.
1882 Brown Back $10 bank note with stamped signatures of O.B. Patton, Cashier and W.H. Echols, President. Courtesy of Heritage Auctions, www.ha.com
1902 Date Back $10 bank note with pen signature of R. Semmes, Jr., Cashier.
1902 Date Back $10 bank note with pen signature of R. Semmes, Jr., Cashier. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $10 bank note with printed signatures of H.C. Landman, Cashier and Robert E. Spragins, President.
1929 Type 2 $10 bank note with printed signatures of H.C. Landman, Cashier and Robert E. Spragins, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,934,630 in National Bank Notes was issued by this bank between 1889 and 1935. This consisted of a total of 224,544 notes (158,460 large size and 66,084 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 3x10-20 1 - 3817
1902 Date Back 4x5 1 - 5000
1902 Date Back 3x10-20 1 - 7900
1902 Plain Back 4x5 5001 - 18697
1902 Plain Back 3x10-20 7901 - 17101
1929 Type 1 6x5 1 - 5256
1929 Type 1 6x10 1 - 2762
1929 Type 1 6x20 1 - 642
1929 Type 2 5 1 - 8162
1929 Type 2 10 1 - 4570
1929 Type 2 20 1 - 1392

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1889 - 1935):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Huntsville, AL, 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
  • Huntsville Weekly Democrat, Huntsville, AL, Thu., Mar. 12, 1874.
  • The Weekly Advertiser, Montgomery, AL, Thu., June 13, 1889.
  • The Montgomery Advertiser, Montgomery, AL, July 4, 1889.
  • Huntsville Weekly Democrat, Huntsville, AL, Wed., Jan. 18, 1893.
  • Huntsville Weekly Democrat, Huntsville, AL, Wed., Jan. 22, 1902.
  • The Birmingham News, Birmingham, AL, Thu., Jan. 14, 1904.
  • The Morning Mercury, Huntsville, AL, Wed., Jan. 15, 1908.
  • The Birmingham News, Birmingham, AL, Sun., Sep. 3, 1922.
  • The Huntsville Times, Huntsville, AL, Sun., July 11, 1926.
  • Birmingham Post-Herald, Birmingham, AL, Fri., May 25, 1973.
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