First National Bank, Mayfield, KY (Charter 2245)

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The new First National Bank building that opened March 27, 1939, at Seventh Street and Broadway, Mayfield, Kentucky.
The new First National Bank building that opened March 27, 1939, at Seventh Street and Broadway, Mayfield, Kentucky.

First National Bank, Mayfield, KY (Chartered 1875 - Open past 1935)

Town History

The new FNB Bank building at 101 E Broadway on the corner of Seventh Street and Broadway, Mayfield, Kentucky, ca2023.
The new FNB Bank building at 101 E Broadway on the corner of Seventh Street and Broadway, Mayfield, Kentucky, ca2023. Courtesy of Google Maps

Mayfield is located in Graves County. Mayfield is in the center of the Jackson Purchase, an eight-county region purchased by Isaac Shelby and Andrew Jackson from the Chickasaw people in 1818. Mayfield was established as the county seat of Graves County in 1821, and the county was formally organized in 1823. John Anderson is believed to have been the first white settler, arriving in 1819 and building a log home on Mayfield Creek. In December 1821, Anderson was appointed county court clerk and moved about two and a half miles to the site that became Mayfield. According to Trabue Davis, the town's name originates indirectly from a gambler named Mayfield, who was kidnapped about 1817 at a racetrack near what is now Hickman. He was carried to the site of today's Mayfield, where he carved his name into a tree in hopes that someone would see it. He tried to escape but drowned trying to cross what is now called Mayfield Creek. The town took its name from the creek.

The completion of the Memphis, New Orleans, and Northern Railroad in 1858 connected Mayfield with the outside world. Beginning with the founding of the Mayfield Woolen Mills in 1860, manufacturing clothing became the main industry in Mayfield for the next hundred years. The town was also a major market for loose-leaf tobacco, and was part of the Black Patch, where Dark Fired Tobacco was processed.

Mayfield had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.

Bank History

In April 1875, the comptroller of the currency authorized the organization of the First National Bank of Mayfield, Kentucky, with a capital of $100,000.

In February 1890, Major Henry S. Hale accepted the position as the next State Treasurer. Hale was a member of the State Senate from 1872-76 and a Major under General Forrest. The news was not unexpected as he was regarded as a man of marked ability and high standing.

In March 1891, a circular was mailed by Maj. Hale, State Treasurer and a candidate for reelection, to his friends. It stated in part "At the close of my term of office as State Senator from the First Senatorial district, 16 years ago, I organized the First National Bank of Mayfield, Kentucky... and have since been at the head of its Executive Board. One year ago I was honored by Gov. Buckner by the appointment to fill out the unexpired term of Judge Sharp, resigned as State Treasurer. On entering the office I soon found what I considered a defect in the law in not requiring the public moneys of the State to be placed in designated depositories at a small rate of interest and went to work at once to get the Legislature then in session to remedy said defect, but the session being so far advanced and the committees so thronged with other matters, I did not succeed..."

In 1895, Hale received the Democratic nomination for Secretary of State. He was defeated by the Republican nominee, Charley Finley of Whitley County. In January 1896, ex-State Treasurer Hale was elected president of the First National Bank of Mayfield, a position he held for many years before he went to Frankfort. This bank was just recently extended for another 20 years.

On May 16, 1919, consolidation of two Kentucky banking institutions was announced. They were the First National Bank of Mayfield and the Farmers National Bank of Mayfield. The consolidated bank would operate under the charter of the First. The combined capital of the banks prior to consolidation was $200,000. The capital of the consolidated bank would be $150,000.

On March 10, 1927, plans were approved for the merger of the City National Bank and First National Bank of Mayfield. The new bank would be Western Kentucky's first $1,000,000 bank, making it the largest between Louisville and Memphis. The capital stock and surplus of the new bank would exceed $1 million with resources exceeding $4 million. Under the merger, Ed Gardner remained as president, Terry P. Smith, president of City National, would become vice president and trust officer of the new bank. C.C. Wyatt, cashier of First National, retained his title. Directors for the new institution would be selected from the ten directors of the two banks. There were Dr. E.A. Stevens, T.P. Smith, J.W. Pryor, R.N. Stanfield, and R.O. Wilford, City National, and Ed Gardner, J.U. Kevil, Dr. J.F. Kirksey, P.J. Wright and N.A. Hale, First National.

In January 1928, stockholders elected the following directors of the First National Bank: J.F. Kirksey, Ed Gardner, N.A. Hale, J.U. Kevil, H.J. Wright, T.P. Smith, and R.O. Wilford. The officers elected were Ed Gardner, president; N.A. Hale, vice president; C.C. Wyatt, cashier; N.J. Gregory, assistant cashier and trust officer; Miss Madeline Murphey and Les Chapman, assistant cashiers. 

On Monday March 27, 1939, the new First National Bank, located at Seventh Street and Broadway, site of the bank since its organization in 1875, opened for business. In 1919 when the Farmers National Bank was taken over by the First National Bank, Ed Gardner was elected president. He was still president in 1939 and considered one of the nation's ablest bankers. Mr. Gardner was an officer with the Farmers National since 1912 and was also president of the Exchange Bank, Mayfield's only other banking institution. C.C. Wyatt, vice president of the First National began his banking career in Mayfield 35 years earlier in the Farmers National Bank and went to the First National in the consolidation in 1919.  In 1927 the First National Bank took over the City National Bank, then reducing Mayfield's banking houses to the present two banks. In May 1938, fire did heavy damage to the first National Bank building and three months later, L.J. Crabka, member of the St. Louis Bank Building and Equipment Company was given the contract for the new building.  Mr. Orabka was architect and designer of the new bank.  About 8 months after the contract was let and with favorable weather conditions, the new bank was completed and the key turned of to the officials for the Monday opening.  Indiana limestone was used with a concrete roof making for a fireproof building.  A new vault was installed and the safety deposit boxes doubled in number.  All metal work in the bank was pressed aluminum and fixtures were bordered with imported Italian Bodecine marble.  The interior decorating was done by the Plaque Co. of St. Louis and included Venetian shades in windows and doors; the wainscoting was of Alacede walnut and the paneling of American walnut.  Bank fixtures were of birch and the floors were Tennessee marble.  A refinished desk, part of the original furniture was placed in the rear of the bank, being the only landmark of the bank organized shortly after the close of the Civil War. Officials of the bank besides president Gardner and vice president Wyatt were C.V. Morgan, cashier; Z.L. Peal, trust officer, Mrs. L.A. Hamlet, auditor, Miss Lucille Lenihan and Miss Ella Mae Hale, stenographers and Max Baynum, custodian. The directors were Mr. Gardner, Mr. Wyatt, T.P. Smith, Dr. J.F. Kirksey, H.J. Wright, Wiltz Beadles, and J.W. Fristoe.

On November 15, 1971, C.C. Wyatt, Sr. died at Community Hospital, Mayfield. Mr. Wyatt was chairman of the board of First National Bank. He also served on the board of directors of Kentucky-Tennessee Clay Co. and was an elder of First Christian Church.

In June 1986, the holding company controlling The First National Bank of Mayfield announced the acquisition of The Bank of Farmington, pending regulatory approval. The transfer was approved by the boards of directors of both banks, said Fred N. Bennett, chief executive officer of the Farmington bank. Approval was expected to take about three months. Bennett said his bank started negotiations in March after he told his board of directors that health would force his resignation. Bennett, who was executive officer since 1954, said none of the 26 stockholders owned a majority interest. Bennett and Kent Mays, senior vice president of The First National Bank of Mayfield, said the change would result in increased services. The Farmington bank's size prevented the offering of certificates of deposit, Individual Retirement Accounts (IRAs) and most loans. The Bank of Framington would become the second community bank in Graves County to be purchased since a 1984 change in state law allowed companies to own more than one bank. The Bank of Marshall County's holding company purchased the former Graves County Bank in Wingo. The Bank of Lowes, the third community bank, remained independent.

On April 28, 2010, Jackson Financial Corporation, the Mayfield, Kentucky, based holding company founded in 1983 by a group of western Kentucky investors to purchase FNB Bank in Mayfield, announed the purchase of the parts of Integra Bank's operations that had been Trigg County Farmers Bank. There reportedly was some consideration of reviving the Trigg County Farmers Bank name, but the Cadiz operation was eventually incorporated into FNB Bank. FNB Bank was one of Kentucky's seven oldest banks, operating nine offices in Western Kentucky.

Official Bank Title(s)

1: The First National Bank of Mayfield, KY

Bank Note Types Issued

1882 Date Back $10 bank note with stamped signatures of N.A. Hale, Cashier and H.S. Hale, President.
1882 Date Back $10 bank note with stamped signatures of N.A. Hale, Cashier and H.S. Hale, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note with stamped signatures of C.C. Wyatt, Cashier and Ed. Gardner, President.
1902 Plain Back $10 bank note with stamped signatures of C.C. Wyatt, Cashier and Ed. Gardner, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note with printed signatures of C.C. Wyatt, Cashier and Ed. Gardner, President. This is a Replacement note.
1929 Type 1 $10 bank note with printed signatures of C.C. Wyatt, Cashier and Ed. Gardner, President. This is a Replacement note. Courtesy of NBNCensus.com
1929 Type 2 $20 bank note with printed signatures of N.J. Gregory, Cashier and Ed. Gardner, President.
1929 Type 2 $20 bank note with printed signatures of N.J. Gregory, Cashier and Ed. Gardner, President. Courtesy of NBNCensus.com

A total of $3,328,580 in National Bank Notes was issued by this bank between 1875 and 1935. This consisted of a total of 268,448 notes (210,448 large size and 58,000 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
Original Series 3x10-20 1 - 1800
Series 1875 3x10-20 1 - 3214
1882 Brown Back 3x10-20 1 - 11760
1882 Date Back 3x10-20 1 - 8455
1902 Date Back 3x10-20 1 - 3000
1902 Plain Back 3x10-20 3001 - 27383
1929 Type 1 6x10 1 - 6632
1929 Type 1 6x20 1 - 1718
1929 Type 2 10 1 - 6410
1929 Type 2 20 1 - 1490

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1875 - 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

  • Mayfield, KY, 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
  • The Philadelphia Inquirer, Philadelphia, PA, Fri., Apr. 9, 1875.
  • Lexington Herald-Leader, Lexington, KY, Mon. Feb. 17, 1890.
  • The Courier-Journal, Louisville, KY, Mon., Mar. 23, 1891.
  • Lexington Herald-Leader, Lexington, KY, Tue., Dec. 31, 1895.
  • Hopkinsville Kentuckian, Hopkinsville, KY, Fri., Jan. 31, 1896.
  • The Courier-Journal, Louisville, KY, Sat., May 17, 1919.
  • The Courier-Journal, Louisville, KY, Fri., Mar. 11, 1927.
  • News-Democrat, Paducah, KY, Thu., Jan. 12, 1928.
  • The Paducah Sun-Democrat, Paducah, KY, Sun., Mar. 26, 1939.
  • Sun-Democrat, Paducah, KY, Wed., Nov. 16, 1971.
  • The Paducah Sun, Paducah, KY, Sun., June 22, 1986.
  • The Cadiz Record, Cadiz, KY, Wed., Aug. 26, 2020.
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