National Bank, Greenville, NC (Charter 8160)

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Postcard of the National Bank of Greenville, North Carolina, ca1910s. Constructed by Higgs, Hardee and Laughinghouse between 1911 and 1916, the bank was located at the intersection of Fifth Street, Evans Street and Dickinson Avenue.  In addition to the bank, the triangular-shaped structure in 1916 housed offices, a barber shop and a dry goods business.  The structure was demolished in the 1970s by the Redevelopment Commission and the street pattern was radically altered as part of Greenville's ambitious urban renewal program.
Postcard of the National Bank of Greenville, North Carolina, ca1910s. Constructed by Higgs, Hardee and Laughinghouse between 1911 and 1916, the bank was located at the intersection of Fifth Street, Evans Street and Dickinson Avenue.  In addition to the bank, the triangular-shaped structure in 1916 housed offices, a barber shop and a dry goods business.  The structure was demolished in the 1970s by the Redevelopment Commission and the street pattern was radically altered as part of Greenville's ambitious urban renewal program. Courtesy of Heritage Auctions, www.ha.com

National Bank, Greenville, NC (Chartered 1906 - Receivership 1930)

Town History

Condensed statement form the National Bank of Greenville as of the close of business on February 21, 1921
Condensed statement form the National Bank of Greenville as of the close of business on February 21, 1921.

Greenville is the county seat of and the most populous city in Pitt County, North Carolina, United States; the principal city of the Greenville metropolitan area; and the 12th-most populous city in North Carolina. Greenville is the health, entertainment, and educational hub of North Carolina's Tidewater and Coastal Plain. As of the 2020 census, there are 87,521 people in the city.

Greenville is the home of East Carolina University (ECU), the fourth-largest university in the University of North Carolina system, and ECU Health Medical Center, the flagship hospital for ECU Health and the teaching hospital for the Brody School of Medicine.

Greenville was founded in 1771 as "Martinsborough", after the Royal Governor Josiah Martin. In 1774 the town was moved to its present location on the south bank of the Tar River, three miles west of its original site. In 1786, the name was changed to Greenesville in honor of General Nathanael Greene, the American Revolutionary War hero. It was later shortened to Greenville.

During Greenville's early years, the Tar River was a navigable waterway; and by the 1860s there were several established steamboat lines transporting passengers and goods on the river. Cotton was the leading agricultural crop, and Greenville became a major cotton export center. Before the turn of the century, however, tobacco surpassed cotton and became the leading money crop. Greenville became one of the state's leading tobacco marketing and warehouse centers.

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

Bank History

  • Organized February 16, 1906
  • Chartered April 5, 1906
  • Opened for business April 16, 1906
  • Receivership December 26, 1930

At the close of business, February 21, 1921, the bank reported loans and discounts, $810,836.57, bonds (U.S. and Liberty) $97,500, furniture and fixtures $12,929.83. The bank had capital $100,000, surplus $50,000, profits $8,219.99, circulation $25,000. The total resources was $1,223,912.01. James L. Little, president; E.G. James, vice president; F.J. Forbes, Cashier, Chas. James, assistant cashier.

On December 10, 1930, the National Bank of Greenville failed to open for business, its directors placing a notice on the door saying heavy withdrawals had made this action necessary for the protection of depositors. The bank had capital of $100,000 and deposits of $1,021,222 on September 24, the date of its last public statement. J.L Little was president and F.J. Forbes, cashier. The First National Bank of Ayden located in Greenville and Ayden, withstood a rush until about 12 o'clock, then it too had to close its doors. The Greenville Banking and Trust Company, the remaining Greenville bank with branches on Dickinson Avenue and Grimesland, maintained a "Come-and-get-it" attitude. Very few depositors expressed any desire to respond to the invitation. The bank had $386,000 on hand and obtained another $200,000 in cash. Telegrams were displayed in the lobby from various correspondent banks offering to send addition sums.

On June 1, 1931, the chartering of a new bank at Greenville, the State Bank and Trust Company, was announced by Commissioner of Banks Gurney P. Hood. The new bank had a paid in capital of $100,000 and a paid in surplus of $25,000. The new bank would take over the building, the assets, and part of the liabilities of the defunct National Bank of Greenville. There were over 100 stockholders. The bank opened on Saturday, July 25, 1931, with B.B. Sugg, president; C.W. Harvey, vice president; and John Mitchell, cashier.

In June 1969, application was made to the comptroller of the currency to merge the State Bank & Trust Company of Greenville with the North Carolina National Bank of Charlotte.

Official Bank Title(s)

1: The National Bank of Greenville, NC

Bank Note Types Issued

1902 Red Seal $5 bank note with pen signatures of J.W. Aycock, Cashier and L.I. Moore, President
1902 Red Seal $5 bank note with pen signatures of J.W. Aycock, Cashier and L.I. Moore, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note with printed signatures of F.J. Forbes, Cashier and James L. Little, President.
1929 Type 1 $10 bank note with printed signatures of F.J. Forbes, Cashier and James L. Little, President. Courtesy of Heritage Auctions, www.ha.com

A total of $461,400 in National Bank Notes was issued by this bank between 1906 and 1930. This consisted of a total of 57,024 notes (52,956 large size and 4,068 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Red Seal 4x5 1 - 725
1902 Red Seal 3x10-20 1 - 580
1902 Date Back 4x5 1 - 3175
1902 Date Back 3x10-20 1 - 2600
1902 Plain Back 4x5 3176 - 7007
1902 Plain Back 3x10-20 2601 - 4927
1929 Type 1 6x5 1 - 423
1929 Type 1 6x10 1 - 198
1929 Type 1 6x20 1 - 57

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1906 - 1930):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Greenville, NC, 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
  • Greenville News, Greenville, NC, Fri., Mar. 4, 1921.
  • The Charlotte News, Charlotte, NC, Wed., Dec. 10, 1930.
  • The News and Observer, Raleigh, NC, Thu., Dec. 11, 1930.
  • The News and Observer, Raleigh, NC, Tue., June 2, 1931.
  • Washington Progress, Washington, NC Thu., July 30, 1931.
  • The Charlotte News, Charlotte, NC, Mon., June 16, 1969.
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