First National Bank of Petersburg, IN (Charter 5300)

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The old First National Bank of Petersburg
The old First National Bank of Petersburg, Indiana, at Eighth and Main Streets, ca2025. This is now the Pike County Recorders Office. Courtesy of Google Maps

First National Bank of Petersburg, IN (Chartered 1900 - Closed (Merger) 1998)

Town History

Advertisement for the First National Bank of Petersburg
An August 1953 advertisement for the First National Bank of Petersburg.[1]

Petersburg is a city within Washington Township and the county seat of Pike County in the U.S. state of Indiana. The population was 2,304 at the 2020 census. In 1900 the population was 1,751, growing to 2,609 by 1930.

Petersburg was laid out in 1817. The city was named for Peter Brenton, veteran of the War of 1812 and an original owner of the town site. A post office has been in operation at Petersburg since 1823. In 1925, Petersburg was spared being the next victim of the deadly Tri-State Tornado as the tornado dissipated a few miles southwest of the city before it could reach Petersburg and unleash the wrath it had delivered to many other towns in Missouri, Illinois, and in Indiana itself.

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

Bank History

In July 1894, a new bank was organized in Petersburgh [sic] under the title of Pike County State Bank with a capital of $50,000. The officers were Gustaff Frank, president; H.R. Snyder, vice president; and John O. Davis, cashier.[2]

In March 1900, the application of John O. Davis, Gus Frank, S.J. Haines, H.R. Snyder and Leslie Lamb to change the Pike County State Bank of Petersburg to the First National Bank of Petersburg was approved by the Comptroller of the Currency. This was the first bank in the State to take advantage of the new law.[3] On April 24, 1900, the Pike County State Bank of Petersburg converted into the First National Bank of Petersburg with a capital stock of $25,000.[4] During the year of 1900, the State Bank of Boswell, the Pike County State Bank of Petersburg, and the State Bank of Sheridan, incorporated as national banks and retired from business as State banks. The Central State Bank of West Lebanon went into the hands of a receiver and its depositors were paid in full. The First State Bank of Dunkirk, the Owensville Banking Company of Owensville, the Rising Sun Deposit Bank of Rising Sun and the Judy State Bank of Winamac incorporated and began business as State banks.[5] 

The Gold Standard Act of March 14, 1900, that placed the nation on the gold standard contained important amendments to the National Bank Act that were enacted to appease the populist soft money faction in Congress in order to help win passage of the act. They were the following;
  1. A provision that allowed the circulation of banks to increase from 90 to 100 percent of the par value of the bonds that bankers deposited to secure their circulations,
  2. A provision that no longer allowed banks to circulate only $5 notes,
  3. A provision that allowed for the organization of national banks in towns of less than 3,000 that could be capitalized for as little as $25,000.

In October 1901, John O. Davis, cashier of the First National Bank of Petersburg, turned over everything he had to help meet the shortage of his brother Richard C. Davis who was charged with misappropriating funds of the Peoples National Bank of Washington.[6]

On December 16, 1909, Gus Frank, Sr., age 78, president of the First National Bank of Petersburg and of the electric light company, died early in the morning. Mr. Frank came to Cincinnati from Germany when he was young. Later he came to Petersburg, entering the clothing business and becoming the wealthiest man in Pike County. He was the father-in-law of Jacob Harlem of Mt. Vernon and the father of Sol Frank of Indianapolis.[7] 

Miss Nellie Frank was a graduate of Indiana University in June 1912, beginning work in the First National Bank of Petersburg as bookkeeper the following month. In January 1913, she was elected assistant cashier, becoming cashier on August 1st.[8]

On July 12, 1913, Leslie Lamb, 55 years old, president of the First National Bank of Petersburg, died there at noon. For many years Mr. Lamb was cashier of the bank, but became president three years ago. He owned 600 acres of land north of Petersburg and was one of the biggest cantaloupe growers in the state. Six years ago, he and his son Blake introduced the culture of alfalfa in Pike County.[9]

In January 1917, directors of the First National Bank elected the following officers: George T. Frank, president; H.R. Snyder, vice president; Miss Nellie Frank, cashier.[10]

On January 14, 1919, at a meeting of the board of directors, Miss Nellie Frank resigned and assistant cashier Joseph O'Brien was elected to fill the vacancy. Miss Frank would go to California in order to recuperate.[11]

In January 1927, the officers elected were George T. Frank, president; Prentis Willis, vice president; Joe O'Brien, cashier; Floyd Burch, Edith B. Kime, and Vienna Hufford, assistant cashiers; Irene Carlisle, bookkeeper. The directors were George T. Frank, H.M. Wolf, J.R. Chew, Prentice Willis, C.H. Carlisle, Joe O'Brien, N.R. Erwin, and Walter Lemmon. Prentice Willis succeeded Simeon J. Haines, deceased, as vice president. Walter Lemmon was added to the board of directors.[12] 

On May 30, 1933, John O. Davis, 61 years old, former cashier, vice president and director of the Old National Bank of Evansville, died at the family residence after two years' illness, which forced him to retire in October 1931. He was born at Owenton, Kentucky, and started his banking career as a messenger in the Farmers National Bank there. He next went to Washington, Indiana, where he was a bookkeeper and director in the Peoples National Bank. In 1894, at the age of 22, he organized the Pike County State Bank at Petersburg and was made cashier. In 1907 he organized the Bankers National Bank of Evansville, of which he was cashier until June 1914, when he was elected cashier of the Old State National Bank there. In 1916 he was also made vice president and director. The widow, one son, one daughter, two sisters and one brother survive.[13]

On Monday morning, September 21, 1936, George T. Frank, aged 75 years, son of Simon P. Frank, former owner of the Frank Flouring Mills in Petersburg, died at his home. He was engaged in the flouring mill business here 20 years ago when he sold his interests and became cashier of the First National Bank of Petersburg and was later elected president. He was survived by his wife, Nannie Frank, a grand-daughter of the late ex-Governor Blue Jeans Williams, and two daughters, Mrs. Louise Wellman of Los Angeles, and Mrs. Nellie O'Brien of Oakland, California.[14]

In August 1951, ex-state senator Carl M. Gray, a director of the First National Bank of Petersburg, was named chairman of the board of directors, a position which in the past had been combined with that of president of the bank. Joe O'Brien would continue as president of the institution.[15] In November, Floyd Burch resigned as cashier and accepted a position with the Fred Malotte Machine Co. in Petersburgh. Burch on November 2d was commissioned by Grand lodge of the state of Nevada as it official representative in Indiana.[16]

Interior of the First National Bank
Interior of the First National Bank of Petersburg, Indiana, after the 1953 remodeling.[17]

In October 1953, the First National Bank of Petersburg was now operating from handsomely remodeled quarters in the Pike County seat. Herman G. Midkiff, a director and executive vice president brought new vitality to the bank since joining its organization about two years earlier. Midkiff who went to Petersburg from the West Baden National Bank formerly was an assistant national bank examiner in the area. The remodeling included structural changes designed to achieve greater efficiency through better arrangement and also involved improvements such as better lighting and air conditioning. Assets of the bank as of September 30, totaled $3,564,868.55. Officers of the bank in addition to Midkiff were Carl M. Gray, chairman of the board; Joe O'Brien, president; Samuel E. Dillin, vice president; L.M. Marshall, cashier; H.H. Harmeyer and Eloise Killion, assistant cashiers. Members of the board were C. Lowell Carlisle, oil distributor; Forrest Braden, merchant; Karl O. Schafer, insurance man; Louis F. Wellman; Herbert F. Kixmiller, certified public accountant; Fred V. Chew, Sr., and Gray, O'Brien, Midkiff and Dillin.[18]

In January 1954, stockholders of the First National Bank elected the following officers and directors for 1954: Joe O'Brien, president; Samuel E. Dillin, vice president; H.G. Midkiff, executive vice president; and L.M. Marshall, cashier. The members of the board of directors were Carl M. Gray, chairman; C. Lowell Carlisle, Dillin, Forrest Braden, Walter Lemmon, O'Brien, Karl O. Shafer, Louise Wellman, Midkiff, Fred Chew Sr., and Herbert Kixmiller.[19]

On February 4, 1957, Joseph P. O'Brien, 82, president of the First National Bank of Petersburg for the past 10 years and an employee of the bank since 1917, died in Good Samaritan Hospital in Vincennes. A native of Petersburg and former Price County clerk, O'Brien was survived by a daughter, two brothers, John of Petersburg and Eugene of St. Petersburg, Florida, and four sisters, Mrs. Frances Carlisle of Petersburg, Mrs. Rose Carlisle of Okmulgee, Oklahoma, Mrs. Ellen Carlisle of Colville, Washington and Mrs. Alice Merico of Bay View, Ohio.[20]

In August 1962, the First National Bank of Petersburg completed a remodeling and expansion program at the corner of Eighth and Main Streets. The program included the purchase of old Kroger store next door to the bank and the expansion thereto. Located in the newly acquired building was a dual purpose room used as an office for bank president Carl N. Gray and as a directors' meeting room. A feature was the establishment of a community room for the residents of Petersburg. The 30 by 40 foot room was available at no cost to local residents and civic groups. Compete cooking and refrigeration facilities were included in the room that would accommodate 60 persons. President Gray's office was outfitted with the lates in modern office equipment including wood paneled walls, electric sliding doors and curtains and wall to wall carpets. "The bank now has the most modern and up to date banking facilities available," according to George H. Heilman, executive vice president. Heilman stated that "the $100,000 expansion is a testament of faith in the future of Petersburg." Seven inside tellers were employed in the bank and one in the Drive-Up window which was installed prior to the remodeling. Outside, the two-story building had new brick and stone. Sims Construction Co. of Petersburg was the general contractor for the work which took six months to complete.[21]

In July 1982, the First National Bank of Petersburg became the Pike County State Bank. The change was made for regulatory purposes, according to Tony Elder, senior vice president of the bank. "It's easier for us to work with Indianapolis than Washington, DC," Elder said.[22]

  • 08/02/1982 Changed Chartering Agency to STATE and Changed Institution Name to Pike County Bank.
  • 10/01/1995 Acquired The Spurgeon State Bank (FDIC #4410) in Spurgeon, IN.
  • 11/13/1998 Merged and became part of The National City Bank of Evansville (Charter 12132) (FDIC #4392) in Evansville, IN.
  • 05/19/2000 Changed Institution Name to Integra Bank National Association.

Official Bank Title

1: The First National Bank of Petersburg, IN

Bank Note Types Issued

1902 Plain Back $20 bank note
1902 Plain Back $20 bank note with stamped signatures of J.P. O'Brien, Cashier and George T. Frank, President. Courtesy of the Peter Huntoon Collection.
1929 Type 1 $10 bank note
1929 Type 1 $10 bank note with printed signatures of J.P. O'Brien, Cashier and George T. Frank, President. Courtesy of Heritage Auctions, www.ha.com

A total of $423,030 in National Bank Notes was issued by this bank between 1900 and 1935. This consisted of a total of 34,155 notes (28,208 large size and 5,947 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 3x10-20 1 - 1500
1882 Date Back 3x10-20 1 - 1700
1882 Value Back 3x10-20 1701 - 2452
1902 Plain Back 3x10-20 1 - 3100
1929 Type 1 6x10 1 - 736
1929 Type 1 6x20 1 - 170
1929 Type 2 10 1 - 435
1929 Type 2 20 1 - 76

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1900 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  1. ↑ Evansville Courier and Press, Evansville, IN, Sun., Aug. 21, 1956.
  2. ↑ The Evansville Journal, Evansville, IN, Fri., July 6, 1894.
  3. ↑ Boonville Standard, Boonville, IN, Fri., Apr. 6, 1900.
  4. ↑ The Herald, Jasper, IN, Fri., Mar. 30, 1900.
  5. ↑ The Indianapolis News, Indianapolis, IN, Fri., Nov. 23, 1900.
  6. ↑ The Indianapolis News, Indianapolis, IN, Mon., Oct. 21, 1901.
  7. ↑ The Vincennes Commercial, Vincennes, IN, Fri., Dec. 24, 1909.
  8. ↑ The Bankers' Magazine, Vol. 87, July - Dec. 1913, p. 507.
  9. ↑ The Indianapolis Start, Indianapolis, IN, Sun., July 13, 1913.
  10. ↑ Evansville Courier and Press, Evansville, IN, Mon., Jan. 22, 1917.
  11. ↑ Evansville Courier and Press, Evansville, IN, Thu., Jan. 16, 1919.
  12. ↑ The Evansville Journal, Evansville, IN, Fri., Jan. 14, 1927.
  13. ↑ The Indianapolis Star, Indianapolis, IN, Wed., May 31, 1933.
  14. ↑ The Vincennes Sun-Commercial, Vincennes, IN, Wed., Sep. 22, 1936.
  15. ↑ Evansville Courier and Press, Evansville, IN, Sun., Aug. 12, 1951.
  16. ↑ Evansville Courier and Press, Evansville, IN, Thu., Nov. 8, 1951.
  17. ↑ Evansville Courier and Press, Evansville, IN, Tue., Oct. 20, 1953.
  18. ↑ Evansville Courier and Press, Evansville, IN, Tue., Oct. 20, 1953.
  19. ↑ Evansville Courier and Press, Evansville, IN, Sat., Jan. 16, 1954.
  20. ↑ Evansville Courier and Press, Evansville, IN, Tue., Feb. 5, 1957.
  21. ↑ Evansville Courier and Press, Evansville, IN, Sun., Aug. 12, 1962.
  22. ↑ Evansville Courier and Press, Evansville, IN, Sun., July 18, 1982.
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