First National Bank, Oxford, NC (Charter 5885)
First National Bank, Oxford, NC (Chartered 1901 - Liquidated 1934)
Town History
Oxford is a town in Granville County, North Carolina. It is the county seat of Granville County. The population was 8,628 as of the 2020 census. In 1900 the population was 2,059 growing to 4,101 by 1930.
The town's history dates to 1761, when local legislator Samuel Benton built a plantation home and called it "Oxford." The legislature ordered the area around his plantation to be the seat of Granville County. The town was not incorporated until 1816.
Oxford had four National Banks chartered during the Bank Note Era, and two of those banks issued National Bank Notes.
Bank History
- Organized June 20, 1901
- Chartered June 27, 1901
- Opened for business July 15, 1901
- 1: Assumed 8996 by consolidation July 15, 1929 with title change (National Bank of Granville, Oxford, NC)
- 2: Conservatorship March 20, 1933
- 2: Liquidated March 16, 1934
- 2: Succeeded by 13896 (Oxford NB (No Issue), Oxford, NC)
In June 1901, a new enterprise for Oxford was announced: The First National Bank of Oxford. Capital stock was $25,000 of which $400 had been over-subscribed. The officers were Robt. W. Lassiter, president; C.D. Ray, vice president; W.H. Hunt, cashier. The directors were R.W. Lassiter, C.D. Ray, E.H. Crenshaw, Ed. C. Harris, R.S. Usry, J.H. Gooch. The bank planned to open on July 15th.
In January 1910, the officers were R.W. Lassiter, president; E.C. Harris, vice president; W.H. Hunt, cashier; and T.C. Harris, treasurer. The directors were E.H. Crenshaw, J.H. Gooch, E.C. Harris, R.W. Lassiter, Z.W. Lyon, C.G. Royster, W.J. Long, and R.S. Usry.
On July 16, 1929, the Comptroller of the Currency announced the consolidation of the First National Bank of Oxford and the National Bank of Granville at Oxford under the corporate title of the First National Bank of Granville at Oxford with a capital stock of $200,000. The original capital stock of the two banks was $252,000, the First National having a capital stock of $100,000 and the Bank of Granville $152,600.
On Friday evening, December 13, 1929, the First National Bank of Granville held its opening in its new home of Williamsboro Street at which time a large number of patrons visited the new structure. The patrons were welcomed by the bank officials, directors and their wives. The building was elaborately decorated with beautiful flowers which added to the attractive furnishings. The officers of the new bank were H.G. Cooper, chairman of the board; W.H. Hunt, president; W.T. Yancey, executive vice president; Andrew Jamieson, R.H. Lewis, A.H. Powell, vice presidents; R.K. Taylor, E.B. Howard, E.G. Crews, assistant vice presidents; J.W. Medford, cashier. The directors were W.H. Hunt, W.T. Yancey, A.M. Powell, Andrew Jamieson, F.W. Hancock, Jr., J.A. Williams, J.W. Horner, C.W. Bryan, M.P. Chamblee, W.Z. Mitchell, R.H. Lewis, D.K. Taylor, J.G. Hall, C.G. Royster, F.W. Hancock, H.G. Cooper, and J.W. Ballou.
On March 11, 1930, at a meeting of directors of the First National Bank of Granville, W.T. Horton Yancey, executive vice president, was elected president to succeed the late W. Henry Hunt who died on March 1st.
On the statement dated March 25, 1931, the officers were H.G. Cooper, Chairman of the Board; W.T. Yancey, president; A.H. Powell, J.G. Hall, Andrew Jamieson, R.H. Lewis, and E.B. Howard, vice presidents; E.G. Crews and R.K. Taylor, assistant vice presidents; J.W. Medford, cashier; and M.K. Pinnix, assistant cashier. The bank had Cash and due from banks $475,670.09, Bods and Securities $472,191.25, Loans $1,883,395.60, Bank building and fixtures $67,980.52 for total resources of $2,899,237.46. The capital was $200,000, Surplus $200,000, undivided profits $82,648.92, bond reserves $26,000 and deposits of $2,390,588.54 for total liabilities of $2,899,237.46.
On February 29, 1932, W.T. Yancey, president of the First National Bank of Granville, celebrated his eleventh birthday at his home in Oxford. Mr. Yancey was born in Person County on this day in 1884 and had resided in Oxford since 1898 when his parents Mr. and Mrs. Gray Yancey moved there. He had been engaged in the banking business since a small boy. He was president of the Rotary Club, superintendent of the Oxford Baptist Sunday School, and he held many responsible positions of high honor for a young man of only 11 birthdays!
On March 21, 1933, the Federal Reserve Bank appointed conservators for the First National Bank of Granville at Oxford and the Farmers National Bank at Winston-Salem. In Oxford, the Union Bank and Trust Company was operating with no restrictions. J.W. Medford was appointed conservator of the First National Bank of Granville which reopened on the 21st.
On January 11, 1934, C.W. Bryan was re-elected president of the Oxford National Bank, formerly the First National Bank of Granville, at the first meeting of the board of directors after the initial meeting of stockholders held Tuesday the 9th. The Oxford National Bank opened for business December 22nd after acquiring the best assets of the First National Bank of Granville which failed to reopen after the National Banking Holiday of March 1933. Stockholders elected the following directors: C.W. Bryan, Henry B. Cooper, James W, Horner. Sam A. Howard, Andrew Jamieson, R.H. Lewis, Dr. R.L. Noblin, and A.H. Powell. R.H. Lewis was named chairman of the board. Other officers elected were Andrew Jamieson, vice president; E.G. Crews, vice president; J.W. Medford, vice president and cashier; and R.K. Taylor, assistant cashier.
Official Bank Title(s)
1: The First National Bank of Oxford, NC
2: 2nd title not used on notes: The First National Bank of Granville at Oxford, NC (7/15/1929)
Bank Note Types Issued
A total of $706,350 in National Bank Notes was issued by this bank between 1901 and 1934. This consisted of a total of 86,808 notes (86,808 large size and No small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1: 1882 Brown Back 4x5 1 - 1565 1: 1882 Brown Back 3x10-20 1 - 1274 1: 1882 Date Back 4x5 1 - 4600 1: 1882 Date Back 3x10-20 1 - 3720 1: 1882 Value Back 4x5 4601 - 6700 1: 1882 Value Back 3x10-20 3721 - 4940 1: 1902 Plain Back 4x5 1 - 4360 1: 1902 Plain Back 3x10-20 1 - 2863
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1901 - 1934):
Presidents:
Cashiers:
- William Henry Hunt, 1901-1914
- Thomas Caleb Harris, 1915-1918
- Elbert Gibbons Crews, 1920-1920
- William Henry Hunt, 1921-1921
- J. B. Bowen, 1922-1922
- William Henry Hunt, 1923-1923
- John William Medford, 1926-1932
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- North Carolina Bank Note History
- General information on Oxford (Wikipedia)
- General information on Granville County (Wikipedia)
- General information on North Carolina (Wikipedia)
Sources
- Oxford, NC, Wikipedia, https://en.wikipedia.org/wiki/Oxford,_North Carolina
- 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
- Oxford Public Ledger, Oxford, NC, Thu., June 20, 1901.
- Oxford Public Ledger, Oxford, NC, Fri., Jan. 7, 1910.
- The News and Observer, Raleigh, NC, Wed., July 17, 1929.
- The News and Observer, Raleigh, NC, Sun., Dec. 15, 1929.
- The Charlotte Observer, Charlotte, NC, Wed., Mar. 12, 1930.
- The News and Observer, Raleigh, NC, Sun., June 14, 1931.
- The News and Observer, Raleigh, NC, Tue., Mar. 1, 1932.
- The News and Observer, Raleigh, NC, Fri., Mar. 24, 1933.
- The News and Observer, Raleigh, NC, Fri., Jan. 12, 1934.