First National Bank, Vermilion, IL (Charter 10365)
First National Bank, Vermilion, IL (Chartered 1913 - Liquidated 1934)
Town History
Vermilion is a village in Stratton and Elbridge Township townships, Edgar County, Illinois. It was established in the mid-1850s and named for its first postmaster. The spelling was originally "Vermillion" (with two L's), but was changed to the current spelling (with one L) in 1949. Vermilion incorporated in 1873. The population was 225 at the 2010 census.
Vermilion is located about 29 miles east of Champaign and 4 miles west of Danville, near the border with Indiana.
Vermilion had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized April 15, 1913
- Chartered April 21, 1913
- Succeeded The Farmers and Merchants Bank of Vermilion
- Conservatorship March 25, 1933
- Receivership January 12, 1934
- Restored to solvency May 15, 1934
- Liquidated May 18, 1934
On April 21, 1913, The Wall Street Journal reported a charter was issued for The First National Bank of Vermilion, Illinois, Capital of $25,000, F.J. Fessant, president, J.H. Heltsley, cashier. It succeeded the Farmers & Merchants Bank of Vermilion.
On Friday morning, June 24, 1932, two bandits held up the First National Bank of Vermilion, kept the cashier and clerk at the point of guns and escaped with approximately $1,800 in cash. On June 30, the third and last arrest in connection with the robbery of the Vermilion bank was made at State Line, Indiana, when Illinois and Indiana officers took E.J. Davis, 42 years old, into custody. Davis' arrest followed apprehension of two others, Delbert Sizemore of Ethel, West Virginia and George Tipton of Perrysville, Kentucky, in Evansville that same day. The two men confessed and implicated Davis as the third man in the heist. The two men taken in Evansville said they gave Davis only $300 of the $1,230 netted, telling him they only got $900. Davis' function was just to aid in their escape. Officers recovered a portion of the money given to Davis. On July 15, J.E. Davis, a 41 year old farmer residing near the Illinois state line west of Terre Haute; Delbert H. Sizemore, 18, Ethel, West Virginia and a nephew of Davis; and Thomas L. Tipton, 25, of Evansville, Indiana were sentenced to from one year to life for the robbery of the First National Bank of Vermilion. The three had plead guilty in the circuit court in Paris, Illinois, and Davis was sentenced to the penitentiary at Menard while Sizemore and Tipton were committed to the reformatory at Pontiac.
On January 12, 1934, Karl A. Glover was appointed receiver of the First National Bank of Vermilion to liquidate the assets of the institution. Glover's training started in the First National Bank of Lawrenceville and for the past several years he had been connected with the Farmers State Bank, resigning weeks ago.
The office of the comptroller of the currency announced that the First National Bank of Vermilion voluntarily liquidated effective May 18, 1934.
Official Bank Title(s)
1: The First National Bank of Vermilion, IL
Bank Note Types Issued
A total of $295,120 in National Bank Notes was issued by this bank between 1913 and 1934. This consisted of a total of 37,399 notes (28,512 large size and 8,887 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1902 Date Back 4x5 1 - 665 1902 Date Back 3x10-20 1 - 534 1902 Plain Back 4x5 666 - 4324 1902 Plain Back 3x10-20 535 - 2804 1929 Type 1 6x5 1 - 868 1929 Type 1 6x10 1 - 422 1929 Type 1 6x20 1 - 118 1929 Type 2 5 1 - 324 1929 Type 2 10 1 - 100 1929 Type 2 20 1 - 15
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1913 - 1934):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Illinois Bank Note History
- General information on Vermilion (Wikipedia)
- General information on Edgar County (Wikipedia)
- General information on Illinois (Wikipedia)
Sources
- Vermilion, IL, Wikipedia, https://en.wikipedia.org/wiki/Vermilion,_Illinois
- 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 Wall Street Journal, New York, NY, Tue., Apr. 22, 1913.
- The Decatur Daily Review, Decatur, IL, Fri., June 24, 1932.
- Journal Gazette, Mattoon, IL, Thu., June 30, 1932.
- Journal Gazette, Mattoon, IL, Fri., July 15, 1932.
- Belleville Daily Advocate, Belleville, IL, Tue., June 26, 1934.