Redlands National Bank, Redlands, CA (Charter 7259)
Redlands National Bank, Redlands, CA (Chartered 1904 - Liquidated 1922)
Town History
Redlands (RED-ləndz) is a city in San Bernardino County, California. The city is located approximately 45 miles northwest of Palm Springs and 63 miles east of Los Angeles. As of the 2020 census, the city had a population of 73,168. In 1890 the population was 1,904, growing to 14,177 by 1930.
Redlands was founded in 1881 on land that encompassed native Serrano, Morongo and Cahuilla tribes. Redlands absorbed the communities of Terracina, Barton, Gladysta, and Lugonia along with portions of Mentone, Crafton and Bryn Mawr when it incorporated in 1888. Redlands is home to the Asistencia Mission founded in 1819 by early European settlers. By the early 20th century, it was a major focal point of California's citrus industry and boasted the largest producer of navel oranges in the world.
Redlands had four National Banks chartered during the Bank Note Era, The First National Bank of Redlands (Charter 3892), The Redlands National Bank (Charter 7259), The Citizens National Bank (Charter 8073), and The First National Bank in Redlands (Charter 12316), and all four of those banks issued National Bank Notes.
Bank History
- Organized March 15, 1904
- Chartered May 16, 1904
- Opened for business May 17, 1904
- Succeeded Union Bank of Redlands
- Liquidated May 14, 1922
- Absorbed by Hellman Commercial Trust & Savings Bank of Los Angeles
On March 4, 1887, articles of incorporation of the Union Bank of Redlands were filed in the office of the County Clerk. The amount of capital stock subscribed was $50,000. The nine directors were as follows: S.J. Hayes, William Craig, J.F. Drake, E.G. Judson, R.J. Waters, R.B. Lane, Lewis Jacobs, Hon. H.M. Barton, and Curtis Wells. Brick for a fine two-story bank building was already on site, northwest corner of State and Orange Streets[3] and work would commence the following week. The bank would be fitted up with all the modern appliances for banking including a secure vault, a Diebold D chest burglar-proof safe, Sargeant time-lock, etc.[4] The Union Bank planned to open on or about April 20th with Curtis Wells, president; S.J. Hayes, vice president; and R.B. Lane, cashier.[5]
In January 1904, the directors of the Union Bank were B.W. Cave, F.C. Hornby, Henry Fisher, C.J. Curtis, E.M. Lyon, M.M. Phinney, H.H. Ford, F.C. Meserve, and K.C. Wells. K.C. Wells was president, M.M. Phinney, vice president; and H.H. Ford, cashier.[6] In April, Redlands received the latest addition to the financial institutions of the county in the form of a savings bank affiliated with the Union Bank of Redlands. The Union Savings Bank organized with capital of $25,000 and the following directors: C.A. Ames, B.W. Cave, C.J. Curtis, H.H. Ford, F.C. Hornby, E.G. Judson, E.M. Lyon, J.E. Payton, M.M. Phinney, and K.C. Wells. The stock was divided into 250 shares of par value $100 each, all subscribed by 49 shareholders. The largest subscription was for $2,500 with several for $1,000 but the majority were for $500 or under.[7] In May it was announced that due to increased business of the Union Bank, it was desired to change it to a national institution to be known as the Redlands National Bank. Application of the directors for a charter was followed by a thorough examination of the institution's books and on the 16th, the comptroller of the currency authorized the bank to commence business. The officers were the same as those of the former Union Bank. Bonds necessary were forwarded and bills for the bank ordered. The business of the new institution would go on with no apparent changes, but the mortgage business would be taken up by the Union Savings Bank recently opened.[8]
In January 1922, the stock of the Union Savings Bank was held in trust by the directors of the Redlands National Bank, the interests of both being identical. The customary practice of electing the same directors for both institutions was followed. The new ownership of a large amount of the stock, the Hellman Commercial Trust and Savings Company, was represented by the presence of Emanuel Cohen and W.C. Bell, prominent members of the big Los Angeles banking institution. The directors elected were H.H. Ford, C.A. Tripp, Dr. M.W. Hill, F.C. Hornby, Allen Wheaton, G.E. Sucher, Lyman M. King, Emanuel Cohen and W.C. Bell. Officers of the two banks were then elected and H.H. Ford was president and G.E. Sucher, cashier, in both instances.[9]
On January 22, 1922, approval was given at a meeting of the directors and stockholders of the Hellman Commercial Trust and Savings Bank of a plan to immediately increase that bank's capital from $1,425,000 to $2,000,000. Announcement of the proposed increase was made by Irving H. Hellman, vice president. This move was to widen the bank's field of activities, particularly with respect to commercial and industrial developments. This was the ninth year of the Hellman bank's existence and its record had been one of noteworthy growth. When the present management took over the Night and Day Bank in 1913, it had approximately 9983 depositors with total resources of $5,139,103.56. In less than a decade the bank's depositors had increased more than ten ties and its resources more than seven times. On December 31, 1921, the institution's books showed resources of $36,429,968.07. Besides its five branch banks in various parts of Los Angeles, the Hellman institution had branches at Riverside, Redlands, and Blythe, California.[10]
On March 10, 1922, the Redlands National Bank celebrated its 35th anniversary. With its affiliated institution, the Union Savings Bank, the paid up capital was $225,000, surplus and undivided profits $283,873.93, and total resources of $3,181,836.70. The directors were H.H. Ford, E. Cohen, F.C. Hornby, C.A. Tripp, C.R. Bell, L.M. King, A. Wheaton, M.W. Hill, and G.E. Sucher. The officers were H.H. Ford, president; G.E. Sucher, cashier; C.C. Hollowy, F.K. Grassle, and W.N. Haskell, assistant cashiers.[11]
On Monday, April 3, 1922, the merging of the Redlands National Bank and its affiliated savings institution, the Union Savings Bank, into the Redlands Branch of the Hellman Commercial Trust & Savings Bank of Los Angeles, was complete according to an announcement by H.H. Ford. The announcement went on to say there would be no change in the service of the bank, nor in the personnel.[12]
In May 1957 the property which the Bank of America was vacating on the northeast corner of Orange and State was a historical bank site starting with the old Union Bank of Redlands in 1897. Between that time and 1929 when it became the Bank of America, the corner was occupied by the Redlands National Bank, Hellman Trust Company and the Merchants National Bank. The Bank of America remodeled the building extensively in 1950 in an effort to increase its usable space and also acquired additional property off Orange Street to the rear for its Timeplan and Trust departments.[13]
Official Bank Title
1: The Redlands National Bank, Redlands, CA
Bank Note Types Issued
A total of $1,531,500 in National Bank Notes was issued by this bank between 1904 and 1922. This consisted of a total of 221,340 notes (221,340 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 1902 Red Seal 4x5 1 - 3825 1902 Red Seal 3x10-20 1 - 2760 1902 Date Back 4x5 1 - 12000 1902 Date Back 3x10-20 1 - 9000 1902 Plain Back 4x5 12001 - 37350 1902 Plain Back 3x10-20 9001 - 11400
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1904 - 1922):
Presidents:
Cashiers:
- Harry Henderson Ford, 1904-1904
- Charles Chipman Ames, 1905-1906
- Bennett White Cave, 1907-1920
- Gorden Edgar Sucher, 1921-1921
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Redlands, CA, 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
- Redlands Area Historical Society, Inc.
- ↑ The Citrograph, Redlands, CA, Sat., July 9, 1904.
- ↑ Redlands Daily Facts, Redlands, CA, Sat., Aug. 26, 1922.
- ↑ The Los Angeles Times, Los Angeles, CA, Thu., Aug. 4, 1887.
- ↑ The Los Angeles Times, Los Angeles, CA, Wed., Mar. 9, 1887.
- ↑ The Daily Courier, San Bernardino, CA, Sat., Apr. 16, 1887.
- ↑ The Citrograph, Redlands, CA, Sat., Jan. 23, 1904.
- ↑ The San Bernardino County Sun, San Bernardino, CA, Sat., Apr. 2, 1904.
- ↑ The Weekly Sun, San Bernardino, CA, Fri., May 20, 1904.
- ↑ Redlands Daily Facts, Redlands, CA, Wed., Jan. 11, 1922.
- ↑ Redlands Daily Facts, Redlands, CA, Mon., Jan. 23, 1922.
- ↑ Redlands Daily Facts, Redlands, CA, Fri., Mar. 10, 1922.
- ↑ Redlands Daily Facts, Redlands, CA, Mon., Apr. 3, 1922.
- ↑ Redlands Daily Facts, Redlands, CA, Wed., May 15, 1957.
- ↑ Redlands Daily Facts, Redlands, CA, Thu., Jan. 6, 1921.