First National Bank, Odebolt, IA (Charter 4511)

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Post card of the the original First National Bank building from 1895-1915. Historic Iowa Postcard Collection, Special Collections and Archives, Grinnell College Libraries.
Post card of the second First National Bank building from 1915-1934 ca. 1920s.

First National Bank, Odebolt, IA (Chartered 1891 - Liquidated 1934)

Town History

Photo of the second First National Bank building 2014.

Odebolt is located in Sac County in northwest Iowa.

Odebolt was platted in 1877 when the Chicago & Northwestern Railway was extended to that point. Odebolt was incorporated as a city May 13, 1878.

While the etymology of Odebolt's unusual name is unquestioned — being named after the Odebolt Creek — the etymology of the creek's name is disputed. It has been ascribed to a story of a French fur trapper and to multiple stories of a bolt falling in the creek. The trapper's name was reportedly Odebeau, and his name corrupted.

During the National Bank Note Era, the population of Odebolt was 1,122 in 1890, staying fairly constant with 1,283 in 1910, and peaking at 1,388 in 1930. It's highest population was 1,388 in 1930, and the current population is estimated at 965 (2016).

Odebolt had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

  • Organized January 10, 1891
  • Chartered January 24, 1891
  • Succeeded Odebolt State Bank
  • Assumed 5817 by consolidation Jan 7, 1914 (Farmers National Bank, Odebolt, IA)
  • Assumed its circulation
  • Liquidated June 18, 1934

Official Bank Title(s)

1: The First National Bank of Odebolt, IA

Bank Note Types Issued

1882 Brown Back $10 banknote with pen signatures of W. F. Bay, Cashier and Joseph Mattes, Vice President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 banknote with engraved signatures of L. R. Bassett, Cashier and William P. Adams, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,275,860 in National Bank Notes was issued by this bank between 1891 and 1934. This consisted of a total of 118,456 notes (81,232 large size and 37,224 small size notes).

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

Series/Type Sheet/Denoms Serial#s
1882 Brown Back 3x10-20 1 - 4090
1882 Date Back 3x10-20 1 - 464
1902 Date Back 3x10-20 1 - 4100
1902 Plain Back 3x10-20 4101 - 15754
1929 Type 1 6x5 1 - 4558
1929 Type 1 6x10 1 - 1230
1929 Type 1 6x20 1 - 416

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1891 - 1934):

Presidents:

Cashiers:

Other Bank Note Signers

  • Joseph Mattes, Vice President (1900-1907)

Wiki Links

Sources

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