First National Bank, Olin, IA (Charter 7585)

Postcard of the First National Bank building ca.1908.

First National Bank, Olin, IA (Chartered 1905 - Liquidated 1926)

Town History

Olin is named for D. A. Olin, general superintendent of the Chicago, Milwaukee, St. Paul and Pacific Railroad.

Olin is the oldest town in Jones County, founded in 1835. What would become Olin started out as Rome, which was platted in 1842. The name changed to Olin in 1868. Olin has the Wapsipinicon river winding around its North and eastern borders, offering boating and fishing access.

During the National Bank Note Era, the population of Olin was 659 in 1910, climbing to 718 in 1920, and dropping to 632 in 1930. It's highest population was 735 in 1980, and the current population is estimated at 684 (2016).

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

Bank History

Photo of First National Bank building 2018. Google Maps.

Organized Jan 11, 1905
Chartered Jan 30, 1905
Opened for business Jan 31, 1905
Liquidated May 21, 1926
Absorbed by Citizens Savings Bank of Olin

1902 Red Seal $5 banknote with pen signatures of Michael H. Crissman, Cashier and Lewis Mershon Carpenter , VP.

Official Bank Title(s)

1: The First National Bank of

Bank Note Types Issued

A total of $243,150 in National Bank Notes was issued by this bank between 1905 and 1926. This consisted of a total of 19,452 notes (19,452 large size and 0 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 - 1050
1902 Date Back	3x10-20	1 - 1560
1902 Plain Back	3x10-20	1561 - 3813

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1905 - 1926):

Presidents:

George Lawrence Schoonover, 1905-1925

Cashiers:

Michael H. Crissman, 1905-1910
Roy Collimer Walters, 1911-1912
Nelson Craig Hall, 1913-1925

Other Bank Note Signers

Lewis Mershon Carpenter, Vice President (1909-1922)
George Washington Huber, Vice President (1907-1908)

References

Olin, IA, Wikipedia, https://en.wikipedia.org/wiki/Olin,_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