First National Bank, Klemme, IA (Charter 6659)

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This should be a contemporary postcard or photo of the bank

First National Bank, Klemme, IA (Chartered 1903 - Merger in 1974)

Town History

This could be recent photo of the bank or another postcard

Klemme is located in Hancock County in north central Iowa. Klemme was platted in 1889 and incorporated in 1899. It was named for Harmon J. Klemme, the original land owner.

During the National Bank Note Era, the population of Klemme was 262 in 1900, growing to 463 in 1930. It's highest population was 620 in 1980, and the current population is estimated at 476 (2016).

The first bank in town was the private Bank of Klemme, established in 1892 with J.E. Wichman as President, Isaac I. Sweigard as Vice-President, and C.W. Knapp as Cashier. Klemme had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

The First National Bank's early history can be traced back to Klemme's first bank, the private Bank of Klemme, established in 1892, with J.E. Wichman as President, Isaac I. Sweigard as Vice-President, and C.W. Knapp as Cashier.

The Bank of Klemme was soon incorporated as the State Savings Bank in late 1892, with a capital stock of $10,000. It was organized by Fred Arnold, C. H. Wiegman, W. R. Bloom, C. W. Knapp, J. E. Wichman, Isaac Sweigard and others. The first officers of the State Savings Bank were the same as the Bank of Klemme; J.E. Wichman as President, Isaac I. Sweigard as Vice-President, and C.W. Knapp as Cashier. By July of 1900, Fred Arnold had become President, with C.H. Wiegman as Vice-President and F.A. Arnold as Cashier.

In 1903, the State Savings Bank was converted to the First National Bank, with a capital stock of $25,000. The bank was organized on February 14, 1903 and given charter 6659 on March 9, 1903. The first officers were Fred Arnold as President, C. H. Wiegmann as Vice-President, F.A. Arnold as Cashier, and M.H. Crissman as Assistant Cashier.

The First National Bank survived the hardships of the 1920s and 1930s, staying open past the end of the National Bank Note era in 1935. On January 2, 1974, the First National Bank of Klemme was merged into the State Savings Bank in Goodell, IA, which also changed its name to North Iowa State Bank on that date.

Note: A (2nd) (private) Bank of Klemme was established in 1902 with Isaac Sweigard as President and H.A. Sweigard as Cashier, and then converted to the (2nd) State Savings Bank of Klemme in 1904, with W.R. Bloom as President and H.A. Sweigard as Cashier. This (2nd) State Savings Bank of Klemme was in operation from 1904 until it closed in June of 1925, and was not associated with the First National Bank of Klemme.

Official Bank Title(s)

1: The First National Bank of Klemme, IA

Bank Note Types Issued

1902 Date Back $20 bank note with pen signatures of F.A. Arnold, Cashier and August Lau, VP
1929 Type 1 $10 bank note with printed signatures of C. G. Waterman, Cashier and F. A. Arnold, President

A total of $340,130 in National Bank Notes was issued by this bank between 1903 and 1935. This consisted of a total of 27,527 notes (22,604 large size and 4,923 small size notes).


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

Series/Type Sheet/Denoms Serial#s
1902 Red Seal 3x10-20 1 - 1006
1902 Date Back 3x10-20 1 - 1610
1902 Plain Back 3x10-20 1611 - 4645
1929 Type 1 6x10 1 - 540
1929 Type 1 6x20 1 - 140
1929 Type 2 5 1 - 312
1929 Type 2 10 1 - 380
1929 Type 2 20 1 - 151

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1903 - 1936):

Presidents:

Cashiers:

Other Bank Note Signers

Wiki Links

Sources

  • Klemme, IA, Wikipedia, https://en.wikipedia.org/wiki/Klemme,_Iowa
  • Rand McNally Banker's Directories 1879 – 1924 (Chicago: Rand McNally & Company).
  • History of Winnebago County and Hancock County, Iowa (Chicago: The Pioneer Publishing Company, 1917).
Website: http://history.rays-place.com/ia/h-towns.htm
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