National Bank/First NB, Bristol, TN (Charter 2796)

From Bank Note History
Jump to navigation Jump to search
ca2023 photo of the old First National Bank building, built in 1905. (Google Street View)

National Bank/First NB, Bristol, TN (Chartered 1882 - Liquidated 1932)

Town History

Bristol is located in Sullivan County in the north-eastern corner of Tennessee. It is the twin city of Bristol, Virginia, which lies directly across the state line between Tennessee and Virginia. Before 1852, Bristol was owned by Reverend James King. His son-in-law, Mr. Joseph R. Anderson, bought 100 acres of the plantation, and named it Bristol.

The U.S. Congress recognized Bristol as the "Birthplace of Country Music" in 1998, since it was the site of some of the first commercial recordings of country music by Jimmie Rodgers and the Carter Family.

The population of Bristol during the National Bank Note Era was 5,271 in 1900, growing to 12,005 in 1930. It highest (and current) population is 27,147 (2020).

Bristol had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.

Bank History

Series 1902 Plain Back $10 bank note with engraved signatures of W.F. Smith, Cashier and James W. Lynn, President. Courtesy of Heritage Auctions, www.ha.com
  • Organized Sep 12, 1882
  • Chartered Oct 12, 1882
  • 1: Succeeded Bank of Bristol
  • 1: Assumed Exchange Bank and Trust Company by consolidation Jun 1902
  • 2: Liquidated Nov 29, 1932
  • 2: Succeeded by 13640 (First National Bank, Bristol, TN)
  • 2: Circulation assumed by 13640 (First National Bank, Bristol, TN)


Charter 2796 began life as the National Bank of Bristol, Tennessee, and received it's charter in October, 1882. It was a conversion of the state-chartered bank named The Bank of Bristol, and it's first President was Joseph Rhea Anderson (1819-1888). Mr. Anderson was the founder of Bristol and named the town after his hometown of Bristol, CT. He was the Cashier for the First National Bank of Bristol, charter 2167, during it's short life from 1874-1876. James Whiteside Carr (1858-1886) helped organize the bank and served as its first Cashier until his death, at age 28, in 1886.

Charter 2796 issued $50 and $100 series 1882 Brown Backs, and $50 and $100 series 1902 Red Seals under its first title. No notes are known on this title.

In April 1904, the bank changed its name to the First National Bank of Bristol and continued the issuance of only high denomination banknotes from the Series 1902 Red Seal and Date Back varieties. Only 7 banks from Tennessee issued high denomination series 1902 Red Seals. One $50 Red Seal is known from the 1540 sheets that were issued. Beginning with the series of 1902 Plain Back notes, the bank issued notes in the $10 and $20 denominations only. Several uncirculated examples of each denomination have survived.

Charter 2796 lasted until the summer of 1932, when the value of its assets had plummeted below that needed to function as a viable bank. The bank was heavily invested in bonds, and the depression destroyed the value of the bond market. It was decided by the bank officers to reorganize the bank, rather than let it fall into receivership. $250,000 in new capital stock was sold and the Comptroller of the Currency chartered the new bank on October 22, 1932. The new bank would be known as the First National Bank in Bristol, and received charter 13640.

The First National Bank of Bristol issued series of 1929 $10 and $20 Type 1 notes. It is known amongst Tennessee collectors as a source for uncirculated $10 Type 1's. A few $20 Type 1 notes have survived, including the example shown below, which bears the lowest serial number known on the bank. Hopefully, in the future, a nice series 1882 or 1902 Red Seal $100 will be discovered.

Official Bank Title(s)

1: The National Bank of Bristol, TN

2: The First National Bank of (4/19/1904), Bristol, TN

Bank Note Types Issued

Series 1929 $20 type 1 with the engraved signatures of William Fulton Smith (1877-1939) as Cashier and James Walter Lynn (1871-1945) as President.

A total of $3,543,220 in National Bank Notes was issued by this bank between 1882 and 1932. This consisted of a total of 233,168 notes (181,352 large size and 51,816 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 50-100 1 - 971
1: 1902 Red Seal 50-100 1 - 77
2: 1902 Red Seal 50-100 1 - 1540
2: 1902 Date Back 50-100 1 - 860
2: 1902 Date Back 3x50-100 1 - 1100
2: 1902 Plain Back 3x10-20 1 - 42514
2: 1929 Type 1 6x10 1 - 6850
2: 1929 Type 1 6x20 1 - 1786

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1882 - 1932):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

Retrieved from "https://banknotehistory.mywikis.wiki/w/index.php?title=National_Bank/First_NB,_Bristol,_TN_(Charter_2796)&oldid=45894"