First National Bank of Redlands, CA (Charter 3892)
First National Bank of Redlands, CA (Chartered 1888 - Liquidated 1922)
Town History
Redlands (RED-ləndz) is a city in San Bernardino County, California. The city is located approximately 45 miles northwest of Palm Springs and 63 miles east of Los Angeles. As of the 2020 census, the city had a population of 73,168. In 1890 the population was 1,904, growing to 14,177 by 1930.
Redlands was founded in 1881 on land that encompassed native Serrano, Morongo and Cahuilla tribes. Redlands absorbed the communities of Terracina, Barton, Gladysta, and Lugonia along with portions of Mentone, Crafton and Bryn Mawr when it incorporated in 1888. Redlands is home to the Asistencia Mission founded in 1819 by early European settlers. By the early 20th century, it was a major focal point of California's citrus industry and boasted the largest producer of navel oranges in the world.
Redlands had four National Banks chartered during the Bank Note Era, The First National Bank of Redlands (Charter 3892), The Redlands National Bank (Charter 7259), The Citizens National Bank (Charter 8073), and The First National Bank in Redlands (Charter 12316), and all four of those banks issued National Bank Notes.
Bank History
- Organized March 6, 1888
- Chartered May 29, 1888
- Assumed 8073 by consolidation February 11, 1916 (Citizens National Bank, Redlands, CA)
- Assumed its circulation
- Liquidated June 30, 1922
- Absorbed by Los Angeles Trust and Savings Bank
On March 30, 1887, the Board of the Bank Commissioners issued a license to the Bank of East San Bernardino Valley at Lugonia, San Bernardino County, to commence business on April 4, 1887. The authorized capital was $50,000, subscribed capital $50,000, capital paid in $20,000. The officers were F.P. Morrison, president; A.L. Clark, vice president; John W. Wilson, cashier; George A. Cook, George H. crafts, A.L. Park, George E. Otis, and F.P. Morrison, directors.[3]
On May 29, 1888, J.D. Abrahams, Deputy and acting Comptroller of the Currency, authorized the First National Bank of Redlands in the County of San Bernardino to commence the business of banking.[4] In June 1888, the Bank of East San Bernardino Valley would move to the corner of Orange and Water Streets and become the First National Bank of Redlands. The certificate from the comptroller of the currency had already been received.[5]
In May 1914, the First National Bank of Redlands was preparing to move from its temporary quarters on West State Street into its splendid new building on the corner of State and Orange. The new structure, under construction since July 1, 1913, had a completed exterior and the upper floors were ready for occupancy. The bank offices on the lower floors only needed finishing details. The vault weighed in at 63,000 pounds. The doors weighed six tons each.[6] The capital of the bank was $150,000 with a surplus of $100,000. F.P. Morrison, the president of the First National, held that office from the organization of the bank. John P. Fish was first vice president; Edward M. Cope, second vice president; S.R. Hemingway, cashier; and H.R. Scott, assistant cashier. Redlands is located in the richest and most beautiful part of Southern California and its oldest bank was now appropriately housed.[7]
In February 1916, the stockholders of the First National Bank and the Citizens National Bank had taken final action of the merger of the two institutions and the effects of the Citizens National had been moved to the building occupied by the larger institution. Edward M. Cope, one of the principal merchants of the city was the president of the new bank which would be known as the First National Bank. Dr. M.J. Sweeney was the vice president and general manager. F.P. Morrison, former president of the First National was a vice president. Other officers were F.W. Sinclair, cashier; Austin T. Park, Waldo Kelsey, and S.R. Hemingway, assistant cashiers. The directors were E.M. Cope, M.F. Sweeney, F.P. Morrison, H.W. Seager, Herbert Hubbard, John Fisher, W.L. Pyle, J.P. Fisk, and A.C. Simonds.[8]
In January 1920, practically no changes were made in the personnel of the officers and directors of any of the banks of Redlands. Those of the First National Bank were M.J. Sweeney, president; Edward M. Cope, and John P. Fisk, vice presidents; Austin T. Park, cashier; S.R. Hemingway and A.M. Sargent, assistant cashiers. The directors were John H. Fisher, H.W. Seager, Herbert L. Hubbard, A.G. Simonds, John P. Fisk, W.L. Pyle, Edward M. Cope, M.J. Sweeney, and Charles H. Clock. The Savings Bank of Redlands officers were M.J. Sweeney, president; W.L. Pyle, and John P. Fisk, vice presidents; Silas Williams, secretary; and W.B. Johnson, cashier. The directors were M.J. Sweeney, Edward M. Cope, Silas Williams, John P. Fisk, Chas. H. Clock, H.H. Garstin, Herbert L. Hubbard, W.L. Pyle, and H.W. Seager.[9]
On May 2, 1922, a refinancing plan looking toward a merger of 18 banks in southern and central California was announced by Henry M. Robinson, president of the First National Bank of Los Angeles, the Los Angeles Trust and Savings Bank and the First Securities Company. The merger would affect nine state or savings banks and seven national banks in addition to the First National Bank of Los Angeles and the Los Angeles Trust and Savings Bank. The banks involved were the Bank of Santa Maria, the Commercial Trust and Savings Bank, Santa Barbara; the Fidelity Trust and Savings Bank, Fresno; the First National Bank of Hollywood; the Hollywood Savings Bank; the Alhambra Savings and Commercial Bank; the First National Bank, Redlands; the Redlands Savings Bank; the National Bank of Tulare; the Savings Bank of Tulare; the First National Bank of Visalia; the Producers' Savings Bank, Visalia; the First National Bank of Oxnard; the Oxnard Savings Bank; the City National Bank of Long Beach; and the Lindsay National Bank. Completion of the merger was expected about July 1st. Under previous consolidations the Union National Bank of Pasadena; the Union Trust and Savings Bank of Pasadena; the American Marine National Bank of San Pedro and the Bank of Glendale had become part of the Los Angeles Trust and Savings Bank.[10] In July 1922, following upon the bank merger, the new local branch known as the First of Redlands Branch selected officers and an executive board as follows: M.J. Sweeney, vice president and managing director and chairman of the board; Edward M. Cope, John P. Fisk, and W.L. Pyle, local vice presidents; Austin T. Park, cashier for Redlands; S.R. Hemingway, A.M Sargent, and Mrs. Myrtle L. Lombard, assistant cashiers. The Redlands Executive Board members were H.H. Garstin, H.W. Seager, Herbert L. Hubbard, A. Gregory, John P. Fisk, W.L. Pyle, Edward M. Cope, M.J. Sweeney, C.H. Clock, and Silas Williams.[11]
Official Bank Title
1: The First National Bank of Redlands, CA
Bank Note Types Issued
A total of $1,458,200 in National Bank Notes was issued by this bank between 1888 and 1922. This consisted of a total of 183,688 notes (183,688 large size and No 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 - 4676 1882 Brown Back 3x10-20 1 - 3203 1902 Red Seal 4x5 1 - 750 1902 Red Seal 3x10-20 1 - 700 1902 Date Back 4x5 1 - 8000 1902 Date Back 3x10-20 1 - 6000 1902 Plain Back 4x5 8001 - 22504 1902 Plain Back 3x10-20 6001 - 14089
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1888 - 1922):
Presidents:
Cashiers:
- John Wallace Wilson, 1888-1900
- Samuel Rogers Hemingway, 1901-1914
- Freeman William Sinclair, 1915-1916
- Austin Trenor Park, 1917-1921
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Redlands, CA, 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
- Redlands Area Historical Society, Inc.
- ↑ Redlands Daily Facts, Redlands, CA, Thu., Sep. 23, 1920.
- ↑ Redlands Daily Facts, Redlands, CA, Wed., Aug. 6, 1919.
- ↑ The Los Angeles Times, Los Angeles, CA, Thu., Mar. 31, 1887.
- ↑ The Citrograph, Redlands, CA, Sat., June 9, 1888.
- ↑ The Daily Courier, San Bernardino, CA, Wed., June 13, 1888.
- ↑ The Los Angeles Times, Los Angeles, CA Sun., May 17, 1914.
- ↑ The Bankers' Magazine, Vol. 89, July - Dec. 1914, p. 372.
- ↑ The Los Angeles Times, Los Angeles, CA, Mon., Feb. 14, 1916.
- ↑ Redlands Daily Facts, Redlands, CA, Wed., Jan. 14, 1920.
- ↑ The San Bernardino County Sun, San Bernardino, CA, Wed., May 3, 1922.
- ↑ Redlands Daily Facts, Redlands, CA, Thu., July 6, 1922.