First National Bank, Malvern, IA (Charter 2247)

First National Bank building ca. 1914. Historic Iowa Postcard Collection, Special Collections and Archives, Grinnell College Libraries.

First National Bank, Malvern, IA (Chartered 1875 - Receivership 1926)

Town History

First National Bank building in 2014. Courtesy of Google Maps

Malvern is located in Mills County in southwest Iowa.

The pioneer village of Milton was established in the fall of 1869. It was later renamed Malvern when it was discovered that there was already another Milton, Iowa. It was one of four communities in the area that came into existence with the completion of the Burlington and Missouri River Railroad on November 18, 1869.

During the National Bank Note Era, the population of Malvern was 748 in 1880, rising to 1,154 in 1910, with another slight bump to 1,320 in 1930. It's highest population was 1,325 in 1940, and the current population is estimated at 1,084 (2016).

For more information on the town of Malvern, see their Wikipedia page.

Bank History

Organized Feb 4, 1875
Chartered Apr 10, 1875
Receivership Dec 10, 1926

Official Bank Title(s)

1: The First National Bank of Malvern, IA

Bank Note Types Issued

1882 Date Back $10 bank note with stamped/pen signatures of James J. Wilson, Cashier and W. L. Summers, President. Courtesy of Heritage Auctions, www.ha.com

A total of $270,760 in National Bank Notes was issued by this bank between 1875 and 1926. This consisted of a total of 37,448 notes (37,448 large size and 0 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s
Original Series	4x5	1 - 2500
Series 1875	4x5	1 - 3498
1882 Brown Back	3x10-20	1 - 1112
1882 Date Back	4x5	1 - 580
1882 Date Back	3x10-20	1 - 391
1902 Date Back	3x10-20	1 - 500
1902 Plain Back	3x10-20	501 - 1281

Bank Presidents and Cashiers

1902 Plain Back $20 bank note with pen signatures of Paul T. Betz, Cashier and W. L. Summers, President. Courtesy of Heritage Auctions, www.ha.com

First National Bank Presidents and Cashiers during the National Bank Note Era (1875 - 1926):

Presidents:

James M. Strahan, 1875-1907
M. L. Evans, 1908-1908
W. L. Summers, 1909-1925

Cashiers:

Leander Bentley, 1875-1892
James J. Wilson, 1893-1924
G. O. Lowe, 1925-1925
Paul T. Betz, 1926

Other Bank Note Signers

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

References

Malvern, IA, Wikipedia, https://en.wikipedia.org/wiki/Malvern,_Iowa
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://bbdata.banknotehistory.com