First National Bank, Red Oak, IA (Charter 2130)
First National Bank, Red Oak, IA (Chartered 1873 - Liquidated 1940)
Town History
Red Oak is located in Montgomery County in southwest Iowa.
Red Oak derives its name from Red Oak Creek which flows through the community and was noted for the red oaks on its banks.
In 1869 the community was officially founded when the Chicago, Burlington and Quincy Railroad (called the Burlington and Missouri River Railroad at the time) arrived. The community was named Red Oak Junction by the railroad on March 20, 1876. The junction was a line off the main Chicago to Council Bluffs, Iowa line that went to Nebraska City, Nebraska and on to Lincoln, Nebraska. The Junction name was dropped in 1901.
During the National Bank Note Era, the population of Red Oak was 1,315 in 1870, with a leap to 4,355 in 1900, and a slight rise to 5,778 in 1930. It's highest population was 6,810 in 1980, and the current population is estimated at 5,333 (2018).
For more information on the town of Red Oak, see their Wikipedia page.
Bank History
- Organized Sep 24, 1873
- Chartered Nov 10, 1873
- Succeeded F. M. Byrkit
- Bank was Open past 1935
- Liquidated Jun 11, 1940
- Absorbed by Houghton State Bank, Red Oak
Official Bank Title(s)
1: The First National Bank of Red Oak, IA
Bank Note Types Issued
A total of $1,819,400 in National Bank Notes was issued by this bank between 1873 and 1935. This consisted of a total of 168,504 notes (147,510 large size and 20,994 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Original Series 3x1-2 1 - 1500 Original Series 4x5 1 - 2875 Series 1875 4x5 1 - 7092 1882 Brown Back 3x10-20 1 - 6200 1882 Brown Back 50-100 1 - 590 1882 Date Back 3x10-20 1 - 3262 1882 Date Back 50-100 1 - 101 1902 Date Back 3x10-20 1 - 2000 1902 Plain Back 3x10-20 2001 - 15603 1929 Type 1 6x10 1 - 2488 1929 Type 1 6x20 1 - 712 1929 Type 2 10 1 - 1494 1929 Type 2 20 1 - 300
Bank Presidents and Cashiers
First National Bank Presidents and Cashiers during the National Bank Note Era (1873 - 1936):
Presidents:
- Charles H. Lane, 1874-1888
- F. M. Byrkit, 1889-1908
- Thomas Griffith, 1909-1911
- Chas. T. Schenck, 1912-1935
Cashiers:
- Charles F. Clarke, 1874-1905
- O. J. Gibson, 1906-1906
- F. J. Brodby, 1907-1914
- W. J. Roberts, 1915-1935
Other Bank Note Signers
- Francis M. Byrkit, Vice President (1873-1888)
References
- Red Oak, IA, Wikipedia, https://en.wikipedia.org/wiki/Red_Oak,_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