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Kalamazoo National Bank, Kalamazoo, MI (Charter 3211)

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Postcard of the Kalamazoo National Bank
Postcard of the Kalamazoo National Bank, ca1910s. Building was located on the west corner of Michigan Avenue and Burdick Street. Courtesy of Adam Stroup

Kalamazoo National Bank/Kalamazoo NB & TC, Kalamazoo, MI (Chartered 1884 - Liquidated 1930)

Town History

A January 1929 advertisement
A January 1929 advertisement for the Kalamazoo National Bank and Trust Company. The bank's motto was "Organized for Service, Maintained by Service."[1]

Kalamazoo is a city in and county seat of Kalamazoo County, Michigan. At the 2020 census, Kalamazoo had a population of 73,598. It is the principal city of the Kalamazoo–Portage metropolitan area in southwestern Michigan, which had a population of 261,670 in 2020. In 1890, Kalamazoo's population was 17,853, growing to 54,786 by 1930.

One of Kalamazoo's most notable features is the Kalamazoo Mall, an outdoor pedestrian shopping mall. The city created the mall in 1959 by closing part of Burdick Street to automobile traffic, although two of the mall's four blocks have been reopened to auto traffic since 1999. Kalamazoo is home to Western Michigan University, a large public university, Kalamazoo College, a private liberal arts college, and Kalamazoo Valley Community College, a two-year community college.

Originally known as Bronson (after founder Titus Bronson) in the township of Arcadia, the names of both the city and the township were changed to "Kalamazoo" in 1836 and 1837, respectively. The name "Kalamazoo" comes from a Potawatomi word, first found in a British report in 1772. The Kalamazoo River, which passes through the modern city of Kalamazoo, was located on the route between Detroit and Fort Saint Joseph (nowadays Niles, Michigan). French-Canadian traders, missionaries, and military personnel were quite familiar with this area during the French era and thereafter. The Kalamazoo River was then known by Canadians and French as La rivière Kikanamaso. The name "Kikanamaso" was also recorded by Father Pierre Potier, a Jesuit missionary for the Huron-Wendats at the Assumption mission (south shore of Detroit), while en route to Fort Saint Joseph during the fall of 1760. Legend has it that "Ki-ka-ma-sung", meaning "boiling water", referred to a footrace held each fall by local Native Americans, in which participants had to run to the river and back before a pot boiled. The word negikanamazo, purported to mean "otter tail" or "stones like otters", has also been cited as a possible origin of the name. The name was also given to the river that flows almost all the way across the state.

The name Kalamazoo, which sounds unusual to English speakers, has become a metonym for exotic places, as in the phrase "from Timbuktu to Kalamazoo".

Kalamazoo had five National Banks chartered during the Bank Note Era, and four of those banks issued National Bank Notes. Kalamazoo also had one Obsolete Bank that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

1914 picture of the staff of the Kalamazoo National Bank
In 1914, Edwin J. Phelps, president of the Kalamazoo National Bank, gathered a group of helpers as part of the staff of his bank, then on the west corner of Michigan Avenue and Burdick Street. Only one of the group shown was still in the banking business in 1947, Thomas A. O'Toole, assistant vice president of the American National Bank in charge of the bond and mortgage departments. Three died, two within the last two years, Paul T. Butler, J. Edward Rogers, and George B. Rogers. The picture includes Walter L. Otis, then vice president; Thomas A. O'Toole, teller, C.W. Wilcox, bookkeeper, L.Q. Langton, bookkeeping department, later in Seattle Washington; Paul T. Butler, bookkeeper, J. Edward Rogers, Bookkeeper; Henry S. Axtell, teller, later with the Upjohn Company; Miss Lillie M. Phelps, later of Grand Rapids; George B. Rogers, assistant cashier; Albert H. Knoll, teller in the collection department; Claire Gibson, note teller later with the Title Bond and Mortgage Company; and Robert W. Averill, bookkeeper, later with the Garrett Agency.[2]
A June 1927 advertisement for the Kalamazoo Trust and Savings Bank
A June 1927 advertisement for the Kalamazoo Trust and Savings Bank, renamed from the Kalamazoo-City Savings Bank.[3]
The old American National Bank building of Kalamazoo
The old American National Bank building of Kalamazoo, Michigan, ca2019. As pictured, the building is occupied by a branch of the Fifth Third Bank. Chicago firm of Weary and Alford designed the building. Courtesy of Google Maps
1980 advertisement American National Holding company
An advertisement from 1980 for the American National Holding Company and its affiliates.[4]
American National Bank's newly renovated lobby
A 1985 picture of American National Bank president Theodore McCarty (left) and bank holding company chairman and president Harold Holland in newly renovated lobby.[5]
  • Organized June 18, 1884
  • Chartered June 24, 1884
  • 1: Bankers Magazine Succession Info (1863-1909): Succeeded E.J. Phelps & Co.
  • 2: Liquidated March 25, 1930
  • 2: Absorbed by Bank of Kalamazoo

In October 1882, the new vault for the banking house of E.J. Phelps & Co. was almost completed. The materials used in construction consisted of 45 perch of stone, 15,500 bricks, 22 barrels of cement, 8 barrels of lime, and 29 loads of gravel.[6] In November, E.J. Phelps & Co. were doing a nice business in their new bank in the Bardick House Block. There was an abundance of light in the room with all appointments handy, convenient and handsome.[7]

By January 1884, the banking house of E.J. Phelps & Co. took in a new partner in the person of Mr. J.W. Thompson, formerly of Kalamazoo, but for sometime past, a resident of Detroit. The firm was then composed of Edwin J. Phelps, Mellville J. Bigelow, and J.W. Thompson. There were all first class businessmen whose integrity was beyond question.[8] Stockholder's of the Phelps & Bigelow Windmill Company elected the following directors for the ensuing year: Edward Woodbury, P.H. Gilkey, Ira A. Ransom, George M. Buck, E.J. Phelps, John Q. Adams, M.J. Bigelow, Alfred W. Brownell, and Nathan Bigelow. The directors elected Edward Woodbury, president; George M. Buck, vice president; E.J. Phelps, recording secretary; M.J. Bigelow, treasurer and manager; and John Q. Adams, general agent.[9]

On Friday, June 20, 1884, the Kalamazoo National Bank succeeded to the business of E.J. Phelps & Co., capital stock $100,000. The following were the officers: E.J. Phelps, president; M.J. Bigelow, vice president; George T. Bruen, cashier; T.Y. Sebring, teller; Jacob Mitchell, John den Bleyker, M.D. Woodford, M.J. Bigelow, Samuel A. Gibson, J.W. Thompson, George T. Bruen, Albert S. White, and E.J. Phelps, directors.[10] The bank would commence business on Tuesday, July 1, 1884, in the Burdick House Block.[11]

On December 4, 1918, Mr. and Mrs. Edwin J. Phelps quietly observed their 51st wedding anniversary. During all their years of married life, Mr. and Mrs. Phelps lived in Kalamazoo. Their son, Rev. William H. Phelps, D.D. resided in Lansing where he was district superintendent of the Methodist Episcopal Church. Their daughter, Miss Lillie M. Phelps, was assistant cashier in Kalamazoo National Bank where her father was president.[12]

In October 1925, the directors were E.J. Phelps, chairman of the board; M.J. Bigelow, W.O. Otis, H.A. Crawford, W.B. Milham, E.B. Desenberg, C.G. Bard, W.E. Upjohn, H.L. VanderHorst, E.V. Brigham, W.M. Loveland, M.J. Schaberg, and W.J. Lawrence. The officers were W.L. Otis, president; M.J. Bigelow and G.B. Rogers, vice presidents; J.M. Shackleton, cashier; K. Gibson and L.C. Brown, assistant cashiers. The bank had paid up capital of $500,000.[13]

On November 20, 1925, Edwin J. Phelps, 82, a renowned Michigan banker, passed away after a two-week illness, following three years of declining health. Phelps dedicated nearly 70 years to banking, founding and leading the Kalamazoo National Bank as president for 39 years before becoming chairman in 1923. He was born in Marshall, Michigan, in 1843, son of Horace Phelps, a pioneer businessman and windmill manufacturer. Edwin began his career at Taylor and Wood bank at age 12. After advancing to the position of cashier, he organized the E.J. Phelps and Co. banking firm which was later expanded.[14] 

In June 1927, the Kalamazoo City Savings Bank changed its name to Kalamazoo Trust and Savings Bank.[15] The officers were Herbert W. Parker, president; Alfred B. Connable, John F. Tuberty, Fred G. Dewey, and Milford G. Davis, vice presidents; Clarence D. Pratt, cashier; and Stanley C. Frost, Trust Officer. The Kalamazoo-City Savings Bank was the oldest bank in Southwestern Michigan having opened for business in 1838.[16]

On Tuesday, January 14, 1930, M.J. Bigelow, Kalamazoo's veteran banker retired as vice president and director of the Kalamazoo National Bank and Trust Company. It was over 45 years ago that the Kalamazoo National Bank was organized. It was an outgrowth of E.J. Phelps and Company, private bankers. M.J. Bigelow was associated with Mr. Phelps and was elected vice president of the new Kalamazoo National Bank. He held that position uninterruptedly, but a few weeks ago he expressed his desire to retire permanently from business and his resignation was accepted by the board of directors. J.M. Shackleton, cashier for the past 12 years was given the post of vice president and cashier. Other officers of the bank, all re-elected, were W.L. Otis, president; George B. Rogers, vice president; Karl Gibson and Garret VanHaaften, assistant cashiers.[17]

The new banking quarters of the Bank of Kalamazoo opened on Saturday, May 10, 1930. The public was invited to inspect the bank's new home from 2 to 10 p.m. The event marked the final step in the merger of the former Kalamazoo Trust and Savings Bank and the Kalamazoo National Bank and Trust Company to form the Bank of Kalamazoo. Founded in 1838, the institution had been closely associated with the history of Kalamazoo for the past 92 years.[18] The ground floor space in the Kalamazoo National Bank and Trust Building, West Michigan Avenue and South Burdick Street, and until this week occupied as a bank, would be remodeled into six stores according to W.W. Rankin, building manager and representative of Walter Cobb and Fisher Co., part owners of the building.[19]

On Friday, August 4, 1933, permission to organize the American National Bank of Kalamazoo was received from the Comptroller of the Currency. In a letter dated August 2nd sent to Attorney M.J. Schaberg, authority was granted for organization of the bank.[20] Rudolph F. Friske of Evanston, Illinois who had relatives in the vicinity was selected as cashier for the new bank. He was one of 25 executives whose names were considered.[21] On November 1st, the new American National Bank opened with a capitalization of $300,000, including $150,000 from the Reconstruction Finance Corporation (RFC). The new bank would take over the payout of 40% promised in December for depositors of the closed Bank of Kalamazoo.[22] Dunlap C. Clark headed the new bank which was located in quarters formerly occupied by the Bank of Kalamazoo with room reserved for the offices of Conservatory Earl D. Albertson and his staff. Prior to opening, Clark and Albertson had sent a letter to holders of trust fund deposits in the Bank of Kalamazoo, suggesting these deposits be transferred to accounts in the American National Bank. As a result, more than $150,000 of these accounts hand been received and transfers continued steadily. Clark and Friske in filling the positions open in the American National drew on the staff of the old bank.[23]

On Tuesday, January 12, 1937, at the American National Bank the directors advanced Milton R. Bailey from the position of manager of credits to vice president. Garret Van Haaften, assistant cashier, was elected cashier, and Abe DeBoer, in charge of the note and discounts department, was made assistant cashier. Dunlap C. Clark was re-elected president, William J. Lawrence, vice president; and Wellington K. Brown, assistant cashier. Bailey joined the bank's staff in December 1934, coming to the city from the Continental Illinois National Bank of Chicago where he had been in charge of the credit department for seven years. He was a graduate of the University of Illinois. Van Haaften was in the banking business in Kalamazoo for the past 15 years, having entered the business soon after leaving school. He was made assistant cashier of the American National on its organization and since the resignation of R.F. Friske as cashier had been acting in that capacity. DeBoer was had been in banking for 13 years after three years in the office of the American Signs Company.[24]

In 1980, the American National Holding Company had as affiliates the following banks: The American National Bank and Trust Company of Michigan with offices at Kalamazoo, Lawton, Mendon, Oshtemo, Ostego, Paw Paw, Plainwell, Richland; The American Bank of Three Rivers, N.A.; The American Bank of Niles, N.A.; The American National Bank in Western Michigan, Allegan; The American National Bank in Battle Creek with offices in Battle Creek and Athens; The American National Bank West with offices in South Haven and Lawrence; and Ludington Bank and Trust Co.[25]

On Monday, January 20, 1986, American National's directors approved a letter of intent to join the bank holding company with that of Old Kent Financial Corp. of Grand Rapids. John C. Canepa, president of Old Kent Financial Corp. said "American National is a good solid organization which synergistically fits in with Old Kent." The combined resourcess of our two organizations will make us more able to be innovative." The merger would swell Old Kent's total assets to about $5 billion. American National with assets of $718 million was the parent of American National Bank & Trust Co.[26]

On Wednesday, June 30, 1999, Harold H. Holland who adopted Kalamazoo as his home nearly 25 years earlier, died suddenly of an apparent heart attack. Holland came to Kalamazoo in 1975 to become president of the American National Bank & Trust Co. and vice president of American National Holding Co. He soon became chairman, chief executive officer and president of both entities which became Old Kent Bank. He retired in 1986.[27]

Official Bank Titles

1: The Kalamazoo National Bank, Kalamazoo, MI

2: Kalamazoo National Bank and Trust Company, Kalamazoo, MI (6/14/1927)


Bank Note Types Issued

1882 Brown Back $5 bank note
1882 Brown Back $5 bank note with pen signatures of H. denBleyker, Cashier and E.J. Phelps, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Plain Back $5 bank note
1902 Plain Back $5 bank note with stamped signatures of L.C. Brown, Assistant Cashier and G.B. Rogers, Vice President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $5 bank note
1929 Type 1 $5 bank note with printed signatures of J.M. Shackleton, Cashier and W.L. Otis, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,389,890 in National Bank Notes was issued by this bank between 1884 and 1930. This consisted of a total of 194,158 notes (187,036 large size and 7,122 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: 1882 Brown Back 4x5 1 - 11720
1: 1882 Brown Back 3x10-20 1 - 1200
1: 1902 Red Seal 4x5 1 - 2800
1: 1902 Red Seal 3x10-20 1 - 1960
1: 1902 Date Back 4x5 1 - 7500
1: 1902 Date Back 3x10-20 1 - 4700
1: 1902 Plain Back 4x5 7501 - 17576
1: 1902 Plain Back 3x10-20 4701 - 10810
2: 1902 Plain Back 4x5 1 - 693
2: 1929 Type 1 6x5 1 - 1187

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1884 - 1930):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • Kalamazoo, MI, 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
  1. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Tue., Jan. 1, 1929.
  2. ↑ Kalamazoo Gazette, Kalamazoo, MI, Sun., Apr. 13, 1947.
  3. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Sun., June 19, 1927.
  4. ↑ Detroit Free Press, Detroit, MI, Sun., Nov. 16, 1980.
  5. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Tue., Jan. 29, 1985.
  6. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Fri., Oct. 6, 1882.
  7. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Sat, Nov. 25, 1882.
  8. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Tue., Jan. 1, 1884.
  9. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Thu., Jan. 17, 1884.
  10. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Fri., June 20, 1884.
  11. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Sun.., June 29, 1884.
  12. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Wed., Dec 4, 1918.
  13. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Sun., Oct. 18, 1925.
  14. ↑ The Herald-Press, Saint Joseph, MI, Fri., Nov. 20, 1925.
  15. ↑ Detroit Free Press, Detroit, MI, Sat., June 18, 1927.
  16. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Sun., June 19, 1927.
  17. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Wed., Jan. 15, 1930.
  18. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Wed., May 7, 1930.
  19. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Tue., May 13, 1930.
  20. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Fri., Aug 4, 1933.
  21. ↑ Battle Creek Enquirer, Battle Creek, MI, Wed, Aug. 23, 1933.
  22. ↑ Battle Creek Moon-Journal, Battle Creek, MI, Wed., Nov. 1, 1933.
  23. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Wed., Nov. 1, 1933.
  24. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Wed., Jan. 13, 1937.
  25. ↑ Detroit Free Press, Detroit, MI, Sun., Nov. 16, 1980.
  26. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Tue., Jan. 21, 1986.
  27. ↑ The Kalamazoo Gazette, Kalamazoo, MI, Fri., July 2, 1999.
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