First National Bank, West Point, MS (Charter 2891)

1882 Brown Back proof $50-$100 sheet with an approved date of March 7, 1883. Courtesy of the Smithsonian Institution Archives

First National Bank, West Point, MS (Chartered 1883 - Closed (Merger) 1998)

Town History

Needed: a contemporary postcard or photo of the bank.

West Point is a city in Clay County, Mississippi, in the Golden Triangle region of the state. The population was 11,307 at the 2010 census. It is the county seat of Clay County and the principal city of the West Point Micropolitan Statistical Area, which is part of the larger Columbus-West Point Combined Statistical Area. In 1870 the population was 1,392, growing to 4,677 by 1930.

Large businesses in West Point include Southern Ionics, Babcock & Wilcox, and Mossy Oak. Bryan Foods was founded in West Point in 1936 by John H. Bryan, Sr and W.B. Bryan. Bryan Foods was acquired by Sara Lee Corporation in 1968 and continued operations in West Point until March 2007.

West Point had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

Organized February 13, 1883
Chartered February 24, 1883
Succeeded Stockard, Bonner & Co.
Assumed First Savings Bank of by consolidation December 29, 1931
Bank was Open past 1935
For Bank History after 1935 see FDIC Bank History website
Merged into National Bank of Commerce in Starkville, MS, December 31, 1998

"After the Civil War, J.J. Stockard and Mr. Barnes opened a bank in West Point and after doing business for several years they reorganized and became the First National Bank of West Point. The Dugan's are at the head of this bank. A good savings bank was also run in connection with the First National Bank which enabled them to lend money on real estate security. I still hold stock in this bank which was part of the legacy left me by my father." Richard Rupert Stockard, MD, Blacksburg, Virginia. Macon Beacon, 1933

In March 1902, the comptroller of the currency reported that T.M. Moseley was vice president in place of W.G. White. The Union National Bank of New Orleans was approved as reserve agent for the First National Bank of West Point.

In January 1903, P.B. Dugan resigned as president after serving in that capacity for the past twenty years. The following officers were elected for the ensuing year: J.A. Crawford, president; Arthur Dugan, cashier; Henry Dugan, assistant cashier; Neely Carothers, bookkeeper. The directors were P.B. Dugan, T.M. Mosely, S.L. Hearn, Arthur Dugan, S.B. Fenkle, W.G. White and J.A. Crawford. A 12% dividend was declared and the stock was worth $150/share.

In August 1904, F.A. Critz, P.B. Dugan, A.G. Brown, and J.N. Carothers were incorporators of a trust company in West Point with capital of $60,000.

On February 22, 1911, Dr. Piece B. Dugan, president of the First National Bank of West Point passed away at his home. Dr. Dugan was a lieutenant of Company F, 14th Mississippi, known as Beauregard Rifles organized at Plattsburg, departed Winston County on May 26, 1861.

In January 1933, the officers and directors of the First National Bank of West Point made this statement: "This bank has been open and prepared to render efficient banking service to the people of this community every business day since 1873. It welcomes the new year of 1933 as further opportunity to continue this service." The First National was observing its 60th birthday.

In August 1998, announcement was made of the merger of the First National Bank of West Point with $115 million in assets and four local offices under its subsidiary, National Bank of the South in Tuscaloosa, Alabama. NBC Capital Corp. of Starkville with $660 million in assets, operating 27 offices including branches in Starkville, Columbus and Aberdeen made the buy-out of the last locally owned bank in West Point. "All First National Branches would assume the NBC Corporate identity when the merger becomes finalized," said Robert Calvert, Sr., chairman of First National Corp. of West Point.

Official Bank Title(s)

1: The First National Bank of West Point, MS

Bank Note Types Issued

1902 Plain Back $10 bank note with stamped signatures in purple ink of Pierce B. Dugan, Cashier and Arthur Dugan, President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $10 bank note with a binary, repeater SN and printed signatures of P.B. Dugan, Cashier and Arthur Dugan, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,482,190 in National Bank Notes was issued by this bank between 1883 and 1935. This consisted of a total of 109,392 notes (88,292 large size and 21,100 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	50-100	1 - 982
1902 Red Seal	3x10-20	1 - 3300
1902 Date Back	3x10-20	1 - 5800
1902 Plain Back	3x10-20	5801 - 18282
1929 Type 1	6x10	1 - 2046
1929 Type 1	6x20	1 - 544
1929 Type 2	10	1 - 4345
1929 Type 2	20	1 - 1215

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1883 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

No other known bank note signers for this bank

Bank Note History Links

Sources

West Point, MS, on Wikipedia
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
Clarion-Ledger, Jackson, MS Thu., Mar., 20, 1902.
The Meridian Press, Meridian, MS, Wed., Jan. 28, 1903.
Weekly Clarion-Ledger, Jackson, MS, Thu., Aug. 25, 1904.
The Port Gibson Reveille, Port Gibson, MS, Thu., Mar., 2, 1911.
Sun Herald, Biloxi, MS, Fri., Jan. 6, 1933.
Sun Herald, Biloxi, MS, Sun., Aug. 9, 1998.