First National Bank, Richmond, MI (Charter 10742)

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The First National Bank of Richmond, Michigan, ca2022.
The First National Bank of Richmond, Michigan, ca2022. Courtesy of Google Maps

First National Bank, Richmond, MI (Chartered 1915 - Receivership 1933)

Town History

Richmond is a city within Metro Detroit in the U.S. state of Michigan. Most of the city is located in Macomb County, though there is a small portion in neighboring St. Clair County. The population was 5,878 at the 2020 census. In 1900, the population was 1,133, growing to 1,493 by 1930.

In 1835, Erastus Beebe set out with two brothers and several other people to create a new city out of a wilderness area in Michigan. He founded Beebe's Corners, which in 1878 agreed to join with the two nearest neighboring communities of Ridgeway and Cooper Town to form the Village of Richmond. In 1879, the Michigan Legislature officially created the village charter. In 1989, the city annexed the Muttonville area of Lenox Township, parts of Richmond Township in Macomb County, and part of Casco and Columbus Townships in St. Clair County.

Richmond had two National Banks chartered during the Bank Note Era, The First National Bank (Charter 10742) and the National Bank of Richmond (Charter 13793). Only the First National Bank issued National Bank Notes.

Bank History

  • Organized May 24, 1915
  • Chartered May 26, 1915
  • Conservatorship April 12, 1933
  • Receivership November 6, 1933

On Tuesday, January 16, 1923, the directors elected were Dr. C.E. Greene, Warren S. Stone of Mt. Clemens, Albert F. Lindke, A.T. Donaldson of Mt. Clemens, J.T. Adams, Charles B. Lutes, M.E. Fitzgerald. Dr. Greene was re-elected president; Mr. Stone, vice president; and Mr. Lindke, cashier.

On January 11, 1933, stockholders elected the following board of directors: C.E. Greene, A.F. Lindke, H.A. Adams, Warren S. Stone, A.T. Donaldson, M.E. Fitzgerald, and Charles B. Lutes. The directors elected the following officers: Dr. Greene, president; Mr. Stone and Mr. Lutes, vice presidents; Mr. Lindke, cashier; and W.L. Evans, Jr., assistant cashier.

In December 1933, the First National Bank of Richmond had $766,000 in frozen assets. The National Bank of Richmond, Charter 13793, took on 60% of the assets of the old First National Bank.

Official Bank Title(s)

1: The First National Bank of Richmond, MI

Bank Note Types Issued

1902 Plain Back $10 bank note with printed signatures of A.F. Lindke, Cashier and C.E. Greene, President.
1902 Plain Back $10 bank note with printed signatures of A.F. Lindke, Cashier and C.E. Greene, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note with printed signatures of A.F. Lindke, Cashier and C.E. Greene, President. The Government Printing Office (GPO) prepared the overprinting plate used to produce this note. Also, it is a replacement note.
1929 Type 1 $10 bank note with printed signatures of A.F. Lindke, Cashier and C.E. Greene, President. The Government Printing Office (GPO) prepared the overprinting plate used to produce this note. Also, it is a replacement note. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note with printed signatures of A.F. Lindke, Cashier and C.E. Greene, President. Barnhart Brothers & Spindler (BBS) prepared the overprinting plate used to produce this note.
1929 Type 1 $10 bank note with printed signatures of A.F. Lindke, Cashier and C.E. Greene, President. Barnhart Brothers & Spindler (BBS) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

A total of $386,680 in National Bank Notes was issued by this bank between 1915 and 1933. This consisted of a total of 38,668 notes (27,700 large size and 10,968 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Plain Back 4x10 1 - 6925
1929 Type 1 6x10 1 - 1828

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1915 - 1933):

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

  • Richmond, MI, Wikipedia, https://en.wikipedia.org/wiki/Richmond,_Michigan
  • 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 Times Herald, Port Huron, MI, Tue., Jan. 16, 1923.
  • The Times Herald, Port Huron, MI, Wed., Jan. 11, 1933.
  • The Herald-Palladium, Benton Harbor, MI, Thu., Dec. 21, 1933.