First National Bank, Titonka, IA (Charter 5597)

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Real photo postcard of the First National Bank building in 1910.

First National Bank, Titonka, IA (Chartered 1900 - Receivership 1930)

Town History

This could be recent photo of the bank or another postcard

Titonka is located in Kossuth County in north central Iowa. Titonka was incorporated on February 1, 1898. Titonka got its start in the year 1898, following construction of the Burlington, Cedar Rapids and Northern Railway through that territory. Titonka is a Sioux name meaning "big black (buffalo)".

During the National Bank Note Era, the population of Titonka was 224 in 1900, more than doubling to 473 in 1930. It's highest population was 658 in 1980, and the current population is estimated at 449 (2018).

Titonka had 1 National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

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

Bank Note History Wiki links:

Bank History

  • Organized Aug 20, 1900
  • Chartered Oct 15, 1900
  • Opened for business Oct 20, 1900
  • Receivership Dec 30, 1930

Official Bank Title(s)

1: The First National Bank of Titonka, IA

Bank Note Types Issued

1902 Plain Back $20 bank note with pen/stamped signatures of Edith Budlong (faded), Assistant Cashier and J. W. Sullivan, President
1929 Type 1 $10 bank note with printed signatures of H. E. Rachut, Cashier and Jay Budlong, President. Courtesy of Heritage Auctions, http://www.ha.com

A total of $334,230 in National Bank Notes was issued by this bank between 1900 and 1930. This consisted of a total of 26,844 notes (25,044 large size and 1,800 small size notes).

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

Series/Type Sheet/Denoms Serial#s
1882 Brown Back 3x10-20 1 - 1800
1882 Date Back 3x10-20 1 - 1470
1882 Value Back 3x10-20 1471 - 2267
1902 Plain Back 3x10-20 1 - 2194
1929 Type 1 6x10 1 - 247
1929 Type 1 6x20 1 - 53

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1900 - 1930):

Presidents:

  • G. S. Gilbertson, 1901-1903
  • Stitzel X. Way, 1904-1905
  • E. B. Soper, 1906-1912
  • J. W. Sullivan, 1913-1927
  • Jay Budlong, 1928-1929

Cashiers:

  • G. L. Dalton, 1901-1901
  • S. A. Schneider, 1902-1904
  • F. B. Stevens, 1905-1905
  • H. C. Armstrong, 1906-1912
  • J. J. Cosgrove, 1913-1921
  • H. E. Rachut, 1922-1929

Other Bank Note Signers

  • Edith Budlong, Assistant Cashier 1922-1930

References

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