National Bank of Alamance, Graham, NC (Charter 8844)
National Bank of Alamance, Graham, NC (Chartered 1907 - Open past 1935)
Town History
Graham is a city in Alamance County, North Carolina. It is part of the Burlington, North Carolina Metropolitan Statistical Area. As of the 2020 census the population was 17,153. It is the county seat of Alamance County.
Graham was laid out in 1849 as the county seat of the newly formed Alamance County, and was incorporated as a town in 1851; it became a city in 1961. It was named for William Alexander Graham, U.S. senator from North Carolina (1840–1843) and governor of North Carolina (1845–1849). The Haw River runs along the east edge of Graham, and the city extends south as far as Alamance Creek. Interstate 40/85 runs through the city, leading east to Durham and west to Greensboro.
Graham had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized August 6, 1907
- Chartered August 23, 1907
- Succeeded the Bank of Alamance
- Opened for business August 24, 1907
- Bank was Open past 1935
- Merged with First Union National Bank on May 6, 1968
In June 1899, the Bank of Alamance was expected to open for business about the 10th of July. A safe was purchased and the room on S. Main Str. next to Scott & Company's store was being readied as a home for the bank. It opened its doors in August 1899 with capital of $5,000. On Tuesday, Jan. 9, 1900, the stockholders met and re-elected the old board of directors. The directors then re-elected Mr. E.M. Armfield, president; J.L. Scott, Jr., vice president and Chas. A. Scott, cashier.
On Tuesday, June 11, 1907, the stockholders of the Bank of Alamance held a meeting to consider the advisability of increasing the capital stock and of converting it into a national bank. A resolution was adopted to increase the capital stock from $25,000 to $50,000 and convert to a national bank. After eight years successful operation as a state bank, the Bank of Alamance was set to become a national bank. National Bank Examiner F.H. Hull of Asheville visited to ensure everything was in good shape. The papers having been approved and filed, the opening was expected within the week with capital of $50,000 and more than $10,000 in surplus and undivided profits.
In. October 1907, Mr. A.B. Thompson of Mebane accepted the position of bookkeeper with the National Bank of Alamance. He was a grandson of former County Treasurer, Mr. Thomas B. Thompson. Mr. J.L. Scott, who was with the bank took the position of bookkeeper with A.J. Marshburn Co. The bank was paying out crisp new bills it received made especially for it.
On August 3, 1949, directors of the National Bank of Alamance honored Charles A. Scott, president, at a dinner at the Alamance Country Club on the eve of the bank's 50th anniversary. The president who was cashier at the bank's opening was presented a gold inscribed pocket watch for his 50 years of continuous service.
On May 6, 1968, the National Bank of Alamance and First Union National Bank merged according to an announcement from Charles B. Bowling Jr. executive officer of the Chapel Hill office at First Union National. Total resources of the National Bank of Alamance were approximately $15 million. The bank had two offices in Graham and one in Mebane. The merger would give First Union National the nation’s 74th largest bank, 105 offices in 50 North Carolina communities and total resources in excess of $815 million. E.M. Todd, executive vice president of the National Bank of Alamance, would serve as executive officer in charge of the Graham and Mebane office.
Official Bank Title(s)
1: The National Bank of Alamance of Graham, NC
Bank Note Types Issued
A total of $2,031,980 in National Bank Notes was issued by this bank between 1907 and 1935. This consisted of a total of 255,871 notes (196,892 large size and 58,979 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 - 1250 1902 Red Seal 3x10-20 1 - 1000 1902 Date Back 4x5 1 - 3950 1902 Date Back 3x10-20 1 - 3140 1902 Plain Back 4x5 3951 - 28589 1902 Plain Back 3x10-20 3141 - 18384 1929 Type 1 6x5 1 - 4496 1929 Type 1 6x10 1 - 2364 1929 Type 1 6x20 1 - 618 1929 Type 2 5 1 - 7718 1929 Type 2 10 1 - 5133 1929 Type 2 20 1 - 1260
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1907 - 1935):
Presidents:
Cashiers:
Other Bank Note Signers
- John L. Scott, Jr., signed notes as Vice President
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- North Carolina Bank Note History
- General information on Graham (Wikipedia)
- General information on Alamance County (Wikipedia)
- General information on North Carolina (Wikipedia)
Sources
- Graham, 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
- The Alamance Gleaner, Graham, NC, Thu., June 15, 1899.
- The Alamance Gleaner, Graham, NC, Thu., Jan. 18, 1900.
- The Alamance Gleaner, Graham, NC, Thu., June 13, 1907.
- The Alamance Gleaner, Graham, NC, Thu., Aug. 22, 1907.
- The Alamance Gleaner, Graham, NC, Thu., Oct. 3, 1907.
- The Alamance Gleaner, Graham, NC, Thu., Oct. 17, 1907.
- The Daily Times-News, Burlington, NC, Thu., May 12, 1949.
- The News and Observer, Raleigh, NC, Fri., Aug. 5, 1949.
- The Chapel Hill News, Chapel Hill, NC, May 15, 1968.
- Asheville Citizen-Times, Asheville, NC, Sat., May 11, 1968.