First National Bank, Thompson, IA (Charter 5054)
First National Bank, Thompson, IA (Chartered 1896 - Receivership 1932)
Town History
Thompson is a city in Winnebago County, Iowa. Thompson was platted in 1892 and it was incorporated as a city in 1894. A post office opened in 1890, and rural carrier service was established in 1904. The population was 495 at the time of the 2020 census. The population in 1900 was 450, peaking in 1950 at 698.
Thompson had one National Bank chartered during the Bank Note Era and it issued National Bank Notes.
Bank History
- Organized December 21, 1896
- Chartered December 31, 1896
- Succeeded Farmers Savings Bank
- Receivership June 28, 1932
In September 1892, the Farmers' Savings Bank of Thompson, Winnebago County filed articles of incorporation in the office of the secretary of state. On Thursday, November 17, 1892, the state auditor issued a certificate to the Farmers' Savings Bank. The capital stock was $10,000. The officers were Eugene Secor, president and H.G. Beadle, cashier.
In September 1896, Comptroller Eckels approved the application of the following persons for permission to organize the First National Bank of Thompson: O.S. Gilbertson, G.I. Koto, O.C. Olson, E.W. Virden and C.J. Thompson. The new national bank at Thompson organized on January 1 with capital of $50,000. The following were the officers: President, C.H. Kelley; vice president, James Ellickson; cashier, F.W. Thompson. In the spring they planned to erect a two-story brick building where the Farmers' Savings Bank stood.
In May 1905, Mr. A. Suhring, resigned his position as assistant cashier of the First National Bank of Thompson, to become cashier of a new state bank to be organized at Kramer, North Dakota, by himself, E.O. Mundy, formerly a merchant in Thompson, who was to be president, and other parties from St. Paul. Mr. Suhring had been connected with the bank in Thompson for nearly eight years and would be greatly missed by his many friends, who wished him the best of success in his new undertaking. Kramer was a new town on the line of the Soo railroad being built across the northern tier of counties in North Dakota.
In June 1909, N.E. Isaacs, for the past 15 years connected with the First National Bank of Thompson and the past five as cashier, was elected second vice president of the First National Bank at Lake Mills. He succeeded N.E. Winden who went into the insurance business. In October 1909, E.R. Alquist was obliged to give up active work and severed his connection with the First National Bank. He planned to take a trip out west to recuperate. T.E. Isaacson, until recently cashier of the Farmers and Drovers Bank of Buffalo Center was elected cashier and also one of the directors.
In January 1911, N.E. Isaacs, was unanimously elected president to succeed Hon. C.H. Kelley, Judge of the 12th Judicial District.
In January 1930, the stockholders elected one new director to the board, F.W. Russell. The other directors who were all re-elected were C.H. Kelley, M.H. Carson, C.F. Leighman, L.R. Perry, S.E. Isaacs and N.E. Isaacs. The officers elected were N.E. Isaacs, president; M.H. Carson, vice president; S.E. Isaacs, cashier; Edith Ellickson, assistant cashier; and R.V. Isaacs, assistant cashier.
Thompson was without a bank for over a year after the State Bank of Thompson and First National Bank of Thompson failed. The First National Bank failed to open on Monday, June 27, 1932. The Peoples State Bank opened in Thompson on August 1, 1933.
Edith Ellickson was cashier of the Peoples State Bank in January 1935, along with President Ernest Osmundson. Mr. J.D. Osmundson was the new member of the board. Chris Jensen remained the Vice President.
Official Bank Title(s)
1: The First National Bank of Thompson, IA
Bank Note Types Issued
A total of $638,920 in National Bank Notes was issued by this bank between 1896 and 1932. This consisted of a total of 84,436 notes (72,862 large size and 11,574 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1882 Brown Back 4x5 1 - 1845 1882 Brown Back 50-100 1 - 431 1882 Date Back 4x5 1 - 2320 1882 Date Back 50-100 1 - 360 1882 Date Back 3x50-100 1 - 123 1902 Plain Back 4x5 1 - 13332 1902 Plain Back 3x50-100 1 - 200 1929 Type 1 6x5 1 - 1196 1929 Type 1 6x10 1 - 571 1929 Type 1 6x20 1 - 162
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1896 - 1932):
Presidents:
Cashiers:
- Frederick William Thompson, 1897-1904
- Newton Elmer Isaacs, 1905-1908
- Elmer R. Alquist, 1909-1909
- Theodore Edward Isaacson, 1910-1916
- Sumner Ellsworth Isaacs, 1917-1932
Other Bank Note Signers
- James Ellickson, Vice President 1896...1916 Signature
- John Edward Helgeson, Assistant Cashier 1921...1922 Signature
Wiki Links
- Iowa Bank Note History
- General information on Thompson (Wikipedia)
- General information on Winnebago County (Wikipedia)
- General information on Iowa (Wikipedia)
Sources
- Thompson, IA, Wikipedia, https://en.wikipedia.org/wiki/Thompson,_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://spmc.org/bank-note-history-project
- Muscatine News-Tribune, Muscatine, IA, Wed., Sep. 21, 1892.
- The Algona Upper Des Moines, Algona, IA, Wed., Nov. 23, 1892.
- The Des Moines Register, Des Moines, IA, Sun., Sep. 27, 1896.
- Estherville Daily News, Estherville, IA, Wed., Jan. 13, 1897.
- Evening Times-Republican, Marshalltown, IA, Tue., May 30, 1905.
- Evening Times-Republican, Marshalltown, IA, Sat., June 5, 1909.
- Evening Times-Republican, Marshalltown, IA, Mon., Oct. 11, 1909.
- Evening Times-Republican, Marshalltown, IA, Mon., Jan. 16, 1911.
- Globe-Gazette, Mason City, IA, Mon., Jan. 13, 1930.
- The Courier, Waterloo, IA, Mon., June 27, 1932.
- Globe-Gazette, Mason City, IA, Fri., Jan. 18, 1935.