First National Bank of Thayer, KS (Charter 9465)
First National Bank of Thayer, KS (Chartered 1909 - Open past 1935)
Town History
Thayer is a city in Neosho County, Kansas. It is located 110 miles east of Wichita and 133 miles southwest of Kansas City, Kansas. As of the 2020 census, the population of the city was 432. In 1900 the population was at its peak of 542, declining to 495 by 1930.
Thayer was laid out in the fall of 1870 when the railroad was extended to that point. It was named for Nathaniel Thayer, a railroad developer and Boston financier. The town was built up quickly and was incorporated as a city in 1871.
Thayer had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized June 7, 1909
- Chartered June 29, 1909
- Conversion of The Citizens State Bank of Thayer
- Opened for business June 30, 1909
- Bank was Open past 1935
On Monday, February 8, 1904, the new bank in Thayer known as the Citizens State Bank with a capital of $12,000 opened for business in the southwest corner of L.A. Stalls' big hardware store.[4] The Citizens State Bank of Thayer had the following directors: J.W. Beach, J.W. Stipp, R.B. Adams, J.E. Christie, H. Savage, J.F. Hemperly, L.W. Stillwell, S.S. Sharp, and L.A. Stall. The officers were J.W. Beach, president; J.E. Christie, vice president; and L.W. Stillwell, cashier. The bank had capital stock of $12,000.[5]
In April 1904, it was announced that a new bank building and the Eldridge building were an assured thing with work to begin at once. The Citizens State Bank purchased the building and lot on the south side of Neosho Avenue occupied by The News for 12 years, but then occupied by Benson's barber shop. Geo. E. Osborn had just about completed the purchase of the building he used as a store, and L.W. Stillwell had purchased the Votaw restaurant building. These in connection with Byron Eldridge's drug store made a solid front of 100 feet or one third of a block. The plan was to build fine brick structures with plate glass fronts.[6]
In June 1909, the Citizens State Bank was visited by John D. Mossman, national bank examiner of Lebanon, Kansas. He was checking the bank's accounts in preparation for its conversion to the First National Bank of Thayer. The bank had lately increased its capital stock from $12,000 to $25,000 to become a national bank.[7] On June 30th, the bank began operating as a national association. The bank arranged for deposits to be guaranteed by the Bankers Guaranty & Surety Co. of Topeka, a mutual organization of bank shareholders banded together to guarantee depositors their money.[8]
In December 1911, the stockholders were Herbert Savage, Joseph E. Wright, Mrs. W.B. Race, Edgar Rash, W.P. Collins, W.H. Shaw, R.B. Adams, Geo. W. Gelwix, L.A. Stall, S.P. Miller, Wm. Walthall, C.C. Fraser, David Stall, S.S. Sharp, J.A. Alleman, U.G. Glentzer, Wm. McKay, and Ed C. Eagles. The directors were C.C. Fraser, J.A. Alleman, G.W. Gelwix, Edgar Rash, and H. Savage. The officers were Herbert Savage, president; Geo. W. Gelwix, vice president; J.A. Alleman, cashier; and Edgar Rash, assistant cashier. The bank had capital stock of $25,000.[9]
On Thursday, September 15, 1938, Edgar Rash, 53, president of the First National Bank of Thayer, died at the Johnson Hospital in Chanute. He was born March 4, 1885, in Atlanta, Kansas. He moved to Thayer in 1911 to take a position in the First National as an accountant. He was promoted to cashier on January 9, 1912, and was made president on May 5, 1919.[10]
On Saturday afternoon, November 20, 1954, the First National Bank of Thayer held an open house to mark two important milestones. The occasion was the 50th anniversary of the bank and also marked completion of a remodeling program in which the bank's quarters had been rebuilt. A new front was installed on the building occupied by the bank since is founding in 1904 and the inside arrangement of the bank was modernized. The front design used sage green glass, brick columns and cut stone treatment. Inside the bank a low-type counter was installed, the ceiling lowered and other improvements made. The bank also installed a new vault door and 225 safe deposit boxes, offering a new service to its customers. Harry E. Rash, president, announced that it had added the services of a farm representative, Galen Morley, who plans to spend most of his time working among farmers of the Thayer area.[11]
On October 1, 1963, the First National Bank converted from a national charter to a state charter, becoming First State Bank of Thayer. Harry E. Rash, president, said the First State would continue to be a member of the Federal Deposit Insurance Corp. and would maintain its million-dollar fidelity bond coverage for protection of its customers. The First State Bank had a starting capital of $25,000, surplus of $175,000, undivided profits and reserves of more than $50,000, and deposits of $2,200,000.[12]
On Monday, December 11, 1995, Harry E. Rash, 85, retired banker of Thayer, died in Wichita, Kansas. He was born November 24, 1910 at Atlanta Kansas, to Edgar and Eunice (Batch) Rash. The Rash family moved to Thayer in 1911 to enter the banking business. Henry Rash graduated from Thayer High School and attended the University of Kansas. He began his banking career in the First National Bank of Thayer with his father in 1932. He was elected cashier in 1936 and two years later, following the death of Edgar Rash, his father, Harry was elected president. The bank was rechartered as First State Bank in 1963. The present bank building was built by Mr. Rash in the early 1950s. Mr. Rash's additional holdings included banks in Stark and Edna.[13]
- 08/22/1984 Institution established. Original name: First State Bank (FDIC #25340).
- 08/22/1984 Acquired The First State Bank (FDIC #4780) in Thayer, KS.
- 12/31/1989 Main Office moved to 115 Neosha, Thayer, KS 66776.
- 03/05/2004 Changed Institution Name to First State Bank of Thayer.
- 02/26/2010 Merged and became part of Bank of Commerce (FDIC #26217) in Chanute, KS.
Official Bank Title
1: The First National Bank of Thayer, KS
Bank Note Types Issued
A total of $296,030 in National Bank Notes was issued by this bank between 1909 and 1935. This consisted of a total of 23,856 notes (18,208 large size and 5,648 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 3x10-20 1 - 1120 1902 Plain Back 3x10-20 1121 - 4552 1929 Type 1 6x10 1 - 608 1929 Type 1 6x20 1 - 180 1929 Type 2 10 1 - 805 1929 Type 2 20 1 - 115
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1909 - 1935):
Presidents:
Cashiers:
- Samuel M. Pickens, 1909-1910
- John Adam Alleman, 1911-1911
- Edgar Rash, 1912-1918
- Edwin Chester Eagles, 1919-1926
- Joseph Montgomery "Mont" Gelwix, Sr., 1927-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Thayer, KS, 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 Thayer News, Thayer, KS, Fri., July 9, 1909.
- ↑ The Thayer News, Thayer, KS, Fri., Feb. 19, 1904.
- ↑ The St. Paul Journal, St. Paul, KS, Thu., Mar. 4, 1954.
- ↑ The Thayer News, Thayer, KS, Fri., Feb. 5, 1904.
- ↑ The Thayer News, Thayer, KS, Fri., July 9, 1909.
- ↑ The Thayer News, Thayer, KS, Fri., Apr. 1, 1904.
- ↑ The Thayer News, Thayer, KS, Fri., June 25, 1909.
- ↑ The Thayer News, Thayer, KS, Fri., July 2, 1909.
- ↑ The Thayer News, Thayer, KS, Fri., Dec. 1, 1911.
- ↑ The Parsons Sun, Parsons, KS, Fri., Sep. 16, 1938.
- ↑ The Parsons Sun, Parsons, KS, Thu., Nov. 18, 1954.
- ↑ The Parsons Sun, Parsons, KS, Mon., Sep 30, 1963.
- ↑ The Parsons Sun, Parsons, KS, Wed., Dec. 13, 1995.