First National Bank of Riverside, CA (Charter 3348)
First National Bank of Riverside, CA (Chartered 1885 - Liquidated 1916)
Town History
Riverside is a city in and the county seat of Riverside County, California, in the Inland Empire metropolitan area. It is named for its location beside the Santa Ana River. It is the most populous city in the Inland Empire and in Riverside County, and is about 50 miles southeast of downtown Los Angeles. It is also part of the Greater Los Angeles area. Riverside is the 59th-most-populous city in the United States and the 12th-most-populous city in California. As of the 2020 census, it had a population of 314,998. Along with San Bernardino, Riverside is a principal city in the nation's 13th-largest Metropolitan Statistical Area (MSA); the Riverside-San Bernardino-Ontario MSA (pop. 4,599,839) ranks in population just below San Francisco (4,749,008) and above Detroit (4,392,041).
Riverside was founded in the early 1870s and was located in San Bernardino County. When the initial 27 California counties were established in 1850, the area today known as Riverside County was divided between Los Angeles County and San Diego County. In 1853, the eastern part of Los Angeles County was used to create San Bernardino County. Between 1891 and 1893, several proposals and legislative attempts were put forth to form new counties in Southern California. These proposals included one for a Pomona County and one for a San Jacinto County. None of the proposals were adopted until a measure to create Riverside County was signed by Governor Henry H. Markham on March 11, 1893. The new county was created from parts of San Bernardino County and San Diego County. On May 2, 1893, seventy percent of voters approved the formation of Riverside County. Voters chose the city of Riverside as the county seat, also by a large margin. Riverside County was officially formed on May 9, 1893, when the Board of Commissioners filed the final canvass of the votes.
Riverside is the birthplace of the California citrus industry and home of the Mission Inn, the nation's largest Mission Revival Style building. It is also home to the Riverside National Cemetery and the Eastern Division of the Federal District Court for the Central District of California. The first orange trees were planted in 1871, with the citrus industry Riverside is famous for beginning three years later (1874) when Eliza Tibbets received three Brazilian navel orange trees sent to her by a personal friend, William Saunders, a horticulturist at the United States Department of Agriculture in Washington, D.C. The trees came from Bahia, Brazil. The Bahia orange did not thrive in Florida, but its success in southern California was phenomenal. The three trees were planted on the Tibbets' property. One of them died after it was trampled by a cow during the first year it was planted. After the trampling, the two remaining trees were transplanted to property belonging to Sam McCoy to receive better care than L.C. Tibbets, Eliza's husband, could provide. Later, the trees were again transplanted, one at the Mission Inn property in 1903 by President Theodore Roosevelt (this tree died in 1922), and the other at the intersection of Magnolia and Arlington avenues. Eliza Tibbets was honored with a stone marker placed with the last tree. That tree still stands to this day inside a protective fence abutting what is now a major intersection.
Riverside had five National Banks chartered during the Bank Note Era, and all five of those banks issued National Bank Notes.
Bank History
- Organized May 22, 1885
- Chartered June 3, 1885
- Liquidated May 6, 1916
- Absorbed by 8907 (Citizens National Bank, Riverside, CA)
On June 4, 1885, the comptroller of the currency authorized the First National Bank of Riverside to begin business with a capital of $50,000.[1] G.W. Kanaval, first president of the Sedgwick City Bank in Kansas, and A.H. Naftzger were organizers of the First National Bank.[2]
In 1888, the banking houses of Riverside were the First National Bank and the Riverside Banking Company. Bakewell & Sons also conducted a banking business.[3] The first bank was organized by Dyer Bros. in 1880. In 1885, it was capitalized at $200,000 as the Riverside Banking Company. In 1891, A. Keith was president; O.T. Dyer, manager; and E.C. Dyer, cashier. The First National Bank was organized in 1885. In 1891, A.H. Naftzger was president; L.C. Waite, vice president and A. Haeberlin, cashier. It was one of the most substantial banking institutions in San Bernardino County [sic] with fully paid up capital of $100,000. The Riverside Savings Bank and Trust Company was organized in 1890 with $100,000 capital. The officers were A.P. Johnson, president; A.H. Naftzger, vice president and treasurer; C.H. Scott, secretary; A.P. Johnson, L.C. Waite, J.S. Castleman, M.J. Daniels, J.V. Gilbert, John McFarland, C.W. Craven, J.A. Simms, and A.H. Naftzger, directors.[4]
A branch of the Keeley Institute was established at Riverside in 1892. The corporation included some of the shrewdest businessmen of the community including A.H. Naftzger, president of the First National Bank; John J. Hewitt, capitalist and orange grower; S.C. Evans, practically the founder of Riverside; A.P. Johnson, president of the Riverside Savings bank; M.J. Daniels, president of the Orange Growers Bank; George Frost, vice president of the Orange Growers Bank and one of the city trustees; L.C. Waite, vice president of the First National Bank; C.N. Ramsey, manager of the Los Gatos Keeley Institute; A.E. Chase of Chase Bros., the great seed and nurserymen of New York State; J.R. Newberry, the largest groceryman in San Bernardino County; H.A. Westbrook, leading contractor an builder of Southern California; Geo. F. Seger, leading citizen of Riverside; and Frank A. Miller of the Hotel Glenwood. There were only two Keeley Institutes on the Pacific Coast, located at Los Gatos and Riverside.[5]
In November 1892, Stanley J. Castleman was the new cashier of the First National Bank.[6]
In January 1893, the directors were A.H. Naftzgar, L.C. Waite, A. Haeberlin, A.P. Johnson, J.A. Simms, J.S. Castleman, John J. Hewitt, S. McCoy, and I.V. Gilbert. The officers were A.H. Naftzger, president, L.C. Waite, vice president; and Stanley J. Castleman, cashier. The bank had capital of $100,000 and surplus of $15,000.[7]
In July 1900, the directors were John J. Hewitt, L.C. Waite, S.J. Castleman, A.P. Johnson, J.S. Castleman, G.E. Bittinger, S. McCoy, J.A. Simms, and I.V. Gilbert. the officers were J.J. Hewitt, president; L.C. Waite, vice president; G.E. Bittinger, cashier; and S.J. Castleman. The bank had capital of $50,000, surplus and undivided profits $25,000.[8]
In December 1913, the directors were H.F. Grant, L.C. Waite, J.S. Castleman, C.L. McFarland, W.A. Purington, E.S. Moulton, J.A. Simms, C.O. Evans, and Stanley J. Castleman. The officers were E.S. Moulton, president; J.A. Simms, vice president; Stanley J. Castleman, cashier; Myron M. Milice, Theo. D. Hurd, and D.F. Velzy, assistant cashiers.[9]
In January 1916, directors were increased from seven to ten members at the annual meeting of the stockholders. The new directors included Delos A. Chappell, president of the Southern Sierras Power Company; C.C. Arnold, and E.B. Blin, retired capitalists; and H.H. Monroe. Directors re-elected were E.S. Moulton, J.A. Simms, W.A. Purington, H.F. Grout, C.L. McFarland and C.O. Evans.[10] On April 2, 1916, an announcement was made of plans to consolidate the Citizens National Bank and First National Bank of Riverside, effective May 6. The combined surplus and undivided profits of the two institutions would be $655,000 with combined deposits of $4,250,000. The four-story building erected and owned by the First National Bank would become the home of the enlarged institution and would be known as the Citizens National Bank of Riverside. The allied savings banks were included in the merger and would occupy the banking rooms then used by the Citizens National. Former Mayor S.C. Evans was elected vice president by the directors of the First National Bank.[11]
Official Bank Title(s)
1: The First National Bank of Riverside, CA
Bank Note Types Issued
A total of $1,992,850 in National Bank Notes was issued by this bank between 1885 and 1916. This consisted of a total of 245,660 notes (245,660 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 - 2620 1882 Brown Back 3x10-20 1 - 1830 1902 Red Seal 4x5 1 - 3850 1902 Red Seal 3x10-20 1 - 3000 1902 Date Back 4x5 1 - 27350 1902 Date Back 3x10-20 1 - 19300 1902 Plain Back 4x5 27351 - 29460 1902 Plain Back 3x10-20 19301 - 20655
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1885 - 1916):
Presidents:
- Isaac Van Tuyl Gilbert, 1885-1887
- Azro Huffman Naftzger, 1888-1894
- John Joseph Hewitt, 1895-1900
- Lyman Cobb Waite, 1901-1904
- George Frost, 1905-1908
- Ernest Smith Moulton, 1909-1916
Cashiers:
- Azro Huffman Naftzger, 1885-1887
- Augustus Haeberlin, 1888-1892
- Stanley Joseph Mott Castleman, 1893-1895
- George Eisendraht Bittinger, 1896-1902
- Stanley Joseph Mott Castleman, 1903-1913
- Myron Milice, 1914-1916
Other Known Bank Note Signers
- William Ansel Purington, Director 1913...1916
Bank Note History Links
Sources
- Riverside, 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
- ↑ The Sacramento Union, Sacramento, CA, Thu., June 4, 1885.
- ↑ The Evening Kansan-Republican, Newton, KS, Tue., Mar. 14, 1916.
- ↑ Los Angeles Evening Express, Los Angeles, CA, Sat., Mar. 17, 1888. Saturday, March 17, 1888
- ↑ Los Angeles Herald, Los Angeles, CA, Wed., June 10, 1891.
- ↑ The Daily Courier, San Bernardino, CA, Fri., July 29, 1892.
- ↑ The Facts, Redlands, CA, Sat., Nov. 12, 1892.
- ↑ Los Angeles Herald, Los Angels, CA, Sun., Jan. 29, 1893.
- ↑ Lake Elsinore Valley Sun-Tribune, Lake Elsinore, CA, Fri., July 20, 1900.
- ↑ The Tidings, Los Angeles, CA, Fri., Dec. 19, 1913.
- ↑ The Los Angeles Times, Los Angeles, CA, Thu., Jan. 13, 1916.
- ↑ The Los Angeles Times, Los Angeles, CA, Sun., Apr. 2, 1916.