Packers National Bank, South Omaha, NE (Charter 4589)

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The old Packers National Bank
The old Packers National Bank, located at 24th and O Streets, south Omaha, Nebraska. Courtesy of Google Maps, ca2021

Packers National Bank, South Omaha, NE (Chartered 1891 - Liquidated 1934)

Town History

South Omaha, located in Douglas County, is a former city and current district of Omaha, Nebraska. During its initial development phase, the town's nickname was "The Magic City" because of the seemingly overnight growth due to the rapid development of the Union Stockyards. Annexed by the City of Omaha in 1915, the community has numerous historical landmarks; many are within the South Omaha Main Street Historic District. The traditional borders of South Omaha included Vinton Street to the north, Harrison Street to the south, the Missouri River to the east, and 42nd Street to the west.

The area that would become South Omaha was rural until the early 1880s when cattle baron Alexander Hamilton Swan decided to establish a stockyards operation just south of Omaha. The South Omaha plat was registered on July 18, 1884. Two years later, South Omaha was incorporated as a city. By 1890, the city had grown to 8,000 people, a rate of growth that earned it the nickname "The Magic City".

In less than 10 years, South Omaha had developed as a regional stockyards and meatpacking center. Its industrial jobs did not require high-level language skills, so it drew thousands of immigrant workers, mostly from eastern and southern Europe. This area of the city showed ethnic succession as different waves of immigrants established certain territories as their own during their first settlement.

South Omaha had five National Banks chartered during the Bank Note Era, and all five of those banks issued National Bank Notes.

Bank History

  • Organized May 11, 1891
  • Chartered June 26, 1891
  • Succeeded South Omaha branch of Nebraska Savings Bank
  • Liquidated March 29, 1934
  • Succeeded by 14004 of Omaha (Packers NB (No Issue), Omaha, NE)

In January 1888, W.A.L. Gibbon was placed in charge of the South Omaha Branch. The Nebraska Savings Bank, situated in the board of trade building, 16th and Farnam Streets, was the largest savings bank in Nebraska. It had established the branch in South Omaha for the accommodation of its many depositors in that thriving city. Mr. Gibbon had charge of the credits of Paxton & Gallagher of Omaha for many years and until recently was a member of the well-known hardware firm of Edney & Gibbon. He also was one of the leading members of the Omaha board of trade besides being interested in real estate in all parts of the city.[1]

The Report of Condition for the Nebraska Savings Bank, Omaha, as of June 6, 1889, showed total resources of $573,394.43, with capital stock paid in $110,000, undivided profits $10,917.83, and deposits $440,794.10. A.L. Gibbon, cashier of South Omaha branch of Nebraska Savings Bank, signed the statement with W.L. Selby as notary public.[2]

Packers National Bank of South Omaha, Nebraska

On April 14, 1891, application for authority to organize a national banking association was filled by John L. Miles of Omaha, Nebraska, and associates. The title of the new bank was the Packers National Bank of South Omaha.[3] The bank organized on May 11th with the following officers: A.C. Foster, president; John L. Miles, vice president; A.P. Brink, cashier; Messrs. A.F. Foster, John L. Miles, Edward A. Cudahy, Hy H. Meday, W.N. Babcock, Samuel Cottner, Carey M. Hunt, A.W. Trumble, and Amos Gates, directors.[4] On June 26, 1891, E.S. Lacey, Comptroller of the Currency, authorized the Packers National Bank of South Omaha, No. 4589, to commence business.[5]

On Friday, December 25, 1891, Christmas morning, John L. Miles, president of the Nebraska Savings Bank died at his home at 518 South Twenty-sixth Street. He was connected with the brokerage firm of Miles & Thomson now conducted by his brother, Andrew Miles. John L. Miles was born in New York City in 1844 and came to Omaha from Davenport in 1886 entering into the banking business.[6]

On Tuesday, January 12, 1892, at the annual meeting of the stockholders, the following officers were elected: A.C. Foster, president; W.N. Babcock, vice president; A.P. Brink, cashier; A.C. Foster, W.N. Babcock, E.A. Cudahy, C.M. Hunt, A. Gates, A.W. Trumble, J.E. Curtis, H.O. Devries, and S. Cotner, directors.[7] On Tuesday, January 8, 1907, at the annual meeting of the stockholders, no changes were made in the personnel of the bank. The officers were John F. Coad, president; A.W. Trumble, vice president; F.J. Moriarty, cashier; Charles A. Dunham and J.F. Coad, Jr., assistant cashiers. The directors were C.D. Brown, Elmer E. Bryson, John F. Coad, J.E. Curtis, T.R. Daniel, Luther Drake, F. McGiverin, F.J. Moriarty, and A.W. Trumble.[8]

June 1909 advertisement
Advertisement from June 1909 for the Packers National Bank.[9]

In June 1909, the officers were John F. Coad, president; A.W. Trumble, vice president; J.F. Coad, Jr., cashier; H.F. Trumble, Chas. A. Dunham, and T.J. Shanahan, assistant cashiers.[10]

In January 1921, officers of the Packers National Bank were John F. Coad, president; William J. Coad, vice president; H.C. Nicholson, vice president and cashier; A.L. Coad, Amos Gates, I.L. Adams, assistant cashiers; and H.E. Rainey, auditor. The directors were W.J. Coad, Fred Trumble, A.L. Coad, H.C. Nicholson, J.M. Gates, Luther Drake, Chas. Schabb, and J.F. Coad. At the close of 1920, the bank had total resources of $4,122,225.35 with deposits of $3,133,192.53.[11]

On Tuesday, January 9, 1934, no changes were made at the annual meeting of the Packers National Bank. Directors were Arthur L. Coad, Fred J. McCauley, John F. Coad, Chas. F. Schaab, W.J. Coad, and A.A. Murphy. Officers of the bank were as follows: John F. Coad, president; Arthur L. Coad, vice president; Fred J. McCauley, cashier; and Henry E. Rainey, assistant cashier.[12]

On Tuesday, January 10, 1933, all officers and directors were re-elected. F.J. McCauley, cashier of the Packers National Bank, was elected a director, succeeding Chauncy Abbott, Jr., who died on December 29th.[13] On Tuesday, March 14, 1933, Omaha national banks which reopened were: First National Bank, Omaha National Bank, United States National Bank of Omaha, Livestock National Bank, Packers National Bank, and Stock Yards National Bank. Local banks continued to receive gold and gold certificates under the extension of time granted by the treasury department for return of hoarded money, with Thursday the deadline. Under order of Secretary of Treasury Woodin, other restrictions remained upon all banks.[14] In November 1933, J.F. Coad, president of the Packers National announced that directors had sold $100,000 of 5% preferred stock to the RFC. Proceeds would be used to remove all unsatisfactory and criticized assets.[15]

Packers National Bank in Omaha, Nebraska (Charter 14004) (No Issue)

On February 14, 1934, J.F.T. O'Connor, Comptroller of the Currency, authorized the Packers National Bank in Omaha, No. 14004, to commence business.[16]

Laddie Kozeny, chairman emeritus of the bank, and Edward Kohout
Photo from 1991 of Packers Bank's Laddie Kozeny, chairman emeritus of the bank, (left) and Edward Kohout look at the bank's original capital stock documents as 30-year customer Al Spicl prepares to do some banking. The South Omaha branch of the Nebraska Savings Bank reorganized on July 16, 1891, and became Packers National Bank. It had $100,000 in starting capital and an office at 2529 N St., about four blocks from its location at 4710 S. 23rd Street.[17]
Norwest Bank Nebraska Ad
Advertisement from January 1998 for Norwest Bank Nebraska, N.A.[18]

In January 1950, officers of the Packers National Bank were Arthur L. Coad, president; C.A. Jeffrey, vice president; Laddie J. Kozeny, assistant vice president; Ray E. Stanley, cashier; Tim J. Spencer, assistant cashier; and Robert J. Taylor, assistant cashier and auditor. The bank reported total resources at the end of 1949 of $10,380,595.19. The capital was $200,000, surplus $140,000, undivided profits and reserves $176,912.49, and deposits $9,829,124.52.[19]

On Saturday, December 11, 1993, Packers Bank completed its acquisition of Nebraska National Bank and said it planned to sell the assets and deposits of the former Nebraska National branch in Tekamah, Nebraska. Edward A. Kohout, president of Packers, said Dale Martin, former president of Nebraska National, would join Packers as senior vice president for correspondent banking. Other staff members would be retained. Packers said it reached an agreement to sell the assets and deposits of its Tekamah branch to First National Bank-Northeast of Lyons, Nebraska. In Omaha, Packers now had offices at 4710 S. 23rd St., 5106 L St., and 2945 S. 132nd St. and the former Nebraska National office at 2710 S. 140th St.[20]

On March 21, 1998, at 1 p.m. the doors were locked and after 107 years Packers Bank closed. With assets of $165 million Packers was acquired by Norwest Bank Nebraska with assets of $2 billion and part of a national bank corporation with assets exceeding $80 billion. Judy Owen, Norwest Nebraska president, said most Packers employees found jobs at Norwest. In 1979 Packers moved to a former Hinky-Dinky grocery at 23rd and L. Employees paraded up South 24th Street in old-time banker garb. "South O" had changed and the big packinghouses were long gone. The decline of the packing industry didn't end the Packers Bank, but the mergers and acquisitions trend of the 1990s did.[21]

  • 01/01/1934 Institution established. Original name: Packers National Bank in Omaha (FDIC #13904).
  • 07/30/1979 Main Office moved to 4710 South 23rd Street, Omaha, NE 68107.
  • 04/25/1985 Institution withdraws from membership in the Federal Reserve System.
  • 04/25/1985 Changed Chartering Agency to STATE.
  • 04/25/1985 Changed Institution Name to Packers Bank and Trust Co.
  • 12/11/1993 Acquired Nebraska National Bank (FDIC #24209) in Omaha, NE.
  • 12/27/1993 Changed Institution Name to Packers Nebraska Bank and Trust Co.
  • 04/01/1996 Changed Institution Name to Packers Bank.
  • 03/21/1998 Merged and became part of Norwest Bank Nebraska, National Association (FDIC #5457) in Omaha, NE.
  • 06/17/2000 Changed Institution Name to Wells Fargo Bank Nebraska, National Association.
  • 11/21/2003 Merged and became part of Wells Fargo Bank, National Association (FDIC #3511) in San Francisco, CA.

Official Bank Title

1: The Packers National Bank of South Omaha, NE

Bank Note Types Issued

1882 Brown Back $5 bank note
1882 Brown Back $5 bank note with pen signatures of F.J. Moriarty, Cashier and John F. Coad, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note
1902 Plain Back $10 bank note with stamped signatures of H.C. Nicholson, Cashier and J.F. Coad (Jr.), President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,994,960 in National Bank Notes was issued by this bank between 1891 and 1934. This consisted of a total of 256,156 notes (256,156 large size and No small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1882 Brown Back 4x5 1 - 7450
1882 Brown Back 3x10-20 1 - 2960
1882 Date Back 4x5 1 - 4948
1882 Date Back 3x10-20 1 - 2190
1902 Date Back 4x5 1 - 11000
1902 Date Back 3x10-20 1 - 8200
1902 Plain Back 4x5 11001 - 27835
1902 Plain Back 3x10-20 8201 - 18656

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1891 - 1934):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • South Omaha, NE, on Wikipedia
  • Packers National Bank building, located at 4939 South 24th Street in the South Omaha Main Street Historic District in south Omaha, Nebraska
  • 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. ↑ Omaha Daily Bee, Omaha, NE, Sun., Jan. 1, 1888.
  2. ↑ The Omaha Evening Bee, Omaha, NE, Sat., June 8, 1889.
  3. ↑ Omaha World-Herald, Omaha, NE, Wed., Apr. 15, 1891.
  4. ↑ Omaha Daily Bee, Omaha, NE, Thu., May 14, 1891.
  5. ↑ South Omaha Daily Stockman, Omaha, NE, Tue., July 14, 1891.
  6. ↑ The Omaha Evening Bee, Omaha, NE, Sat., Dec. 26, 1891.
  7. ↑ South Omaha Daily Stockman, Omaha, NE, Wed., Jan. 13, 1892.
  8. ↑ Omaha Daily Bee, Omaha, NE, Wed., Jan. 9, 1907.
  9. ↑ Daily Drovers Journal-Stockman, South Omaha, NE, Sun., June 13, 1909.
  10. ↑ Daily Drovers Journal-Stockman, South Omaha, NE, Sun., June 13, 1909.
  11. ↑ Papillion Times, Papillion, NE, Thu., Jan. 20, 1921.
  12. ↑ The Stockman's Journal, Omaha, NE, Wed., Jan. 10, 1934.
  13. ↑ Omaha World-Herald, Omaha, NE, Wed., Jan. 11, 1933.
  14. ↑ Nebraska Daily News-Press, Nebraska City, NE, Wed., Mar. 15, 1933.
  15. ↑ Lincoln Journal Star, Lincoln, NE, Wed., Nov. 15, 1933.
  16. ↑ Our Sunday Visitor, Omaha, NE, Fri., Apr. 13, 1934.
  17. ↑ Omaha World-Herald, Omaha, NE, Tue., July 16, 1991.
  18. ↑ Omaha World-Herald, Omaha, NE, Mon., Jan. 5, 1998.
  19. ↑ The Stockman's Journal, Omaha, NE, Tue., Jan. 3, 1950.
  20. ↑ Omaha World-Herald, Omaha, NE, Sun., Dec. 12, 1993.
  21. ↑ Omaha World-Herald, Omaha, NE, Tue., Apr. 7, 1998.
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