Round Hill National Bank, Round Hill, VA (Charter 11569)
Round Hill National Bank, Round Hill, VA (Chartered 1919 - Closed (Merger) 1984)
Town History
Round Hill is a town in Loudoun County, Virginia. The town is located at the crossroads of Virginia Routes 7 and 719 (Woodgrove Road), approximately 50 miles northwest of Washington, D.C. The town's name refers a hill two miles northeast of a 910-foot hill used during the American Civil War as a signal post by both Confederate and Union troops. Patsy Cline went to Round Hill Elementary School. Round Hill's population was 693 at the 2020 census. In 1920, the population was 359.
Round Hill was incorporated on February 5, 1900. From 1874 to 1900, the settlement had been the terminus of a Washington and Ohio rail line that ultimately became the Washington and Old Dominion Railroad. The railway allowed agricultural products to be brought into Washington, D.C., and allowed the residents of the District to escape to the surrounding countryside for holidays. Many of the town's older residences were originally boarding houses, inns, and taverns where people would go upon arrival. The town was considered a convenient destination as it lies close to the Shenandoah River, the Shenandoah National Park, the Appalachian Trail, Harpers Ferry, the Chesapeake and Ohio Canal National Historic Park, and the paved Washington & Old Dominion Railroad Trail.
Round Hill had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized December 29, 1919
- Chartered December 31, 1919
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into First American Bank of Virginia in McLean, VA, June 30, 1984
Applications to the comptroller of the currency during the week ended Friday, September 26, 1919, for authority to organize national banks and to convert state banks into national banks included The Round Hill National Bank, Round Hill, Virginia, capital $25,000; correspondent, Chas. J. Ford, Round Hill.[2]
In January 1920, The Round Hill National Bank, capital stock $40,000, was the latest banking house incorporated in Loudoun County. At the organization meeting, the following officers were elected: H.C. Thompson, president; N.B. Hawthorne and J.R. Cochran, vice presidents; L.F. Bowersett, cashier.[3]
In July 1922, Theodore Reid who had been with the Chase City National Bank for the past two years, accepted a position as cashier of the Round Hill National Bank.[4]
In January 1926, stockholders elected the following directors: C.A. Barber, J.K. Carbaugh, J.R. Cochran, J.A. Cummings, Charles J. Ford, N.B. Hawthorne, I.C. James, J.S. Patterson, Hugh H. Piggott, J.C. Rogers, W.R. Sagle, and H.C. Thompson. The officers elected were H.C. Thompson, president; J.R. Cochran and N.B. Hawthorne, vice presidents; and Theodore Reid, cashier.[5] On Wednesday, February 3, 1926, J. Robert Cochran, 62, a prominent farmer, died at his home near Round Hill. He was vice president of the Round Hill National Bank.[6]
In January 1934, H.C. Thompson was re-elected president; C.A. Baber, vice president; H.H. Cooley, cashier. The directors re-elected were C.A. Baber, P.C. James, H.H. Cooley, J.S. Patterson, J.A. Cummings, Hugh H. Piggott, E.T. Crim, J.C. Rogers, T.M. Derflinger, W.R. Sagle, Charles J. Ford, and H.C. Thompson.[7]
On June 22, 1955, Herbert H. Cooley, vice president of the Round Hill National Bank in Loudon County was officially elected president of the Virginia Bankers' Association (VBA). The retiring president, W.W. Shapard, Halifax, and Mrs. Shapard were honored at a reception. Charles A. Kramer, president of the Farmers and Merchants State Bank at Fredericksburg, was elected first vice president, which means he would be president next year.[8]
On Tuesday, September 26, 1961, Hayward C. Thompson, a member of the House of Delegates from 1936 to 1940, died in Loudoun County Hospital at the age of 82. Thompson, a native of Hillsboro, lived at Stony Point Farm. He was the first president of the Round Hill National Bank and served in that position until he was made chairman of the board of directors in 1957.[9]
On Wednesday, October 2, 1963, Theodore Reid, vice president and cashier of the Farmers & Merchants National Bank of Hamilton, died at the age of 66. Reid had been with the bank for 38 years. Earlier he worked for the Purcellville National Bank, the Round Hill National Bank, and the Chase National Bank in New York.[10]
Investors from Saudi Arabia, Kuwait and Abu Dhabi won a two-year battle to gain ownership of Financial General Bankshares Inc. which operated 12 major banks in Washington, Maryland, Virginia, New York and Tennessee. Pending Federal and State regulatory approvals, ownership of the $2.2 billion banking company would be turned over to a firm controlled by Sheikh Kamal Adham, former director of Saudi Arabia's Central Intelligence Agency; Faisal Saud al Fulaij, a Kuwaiti businessman; and Abdulla Darwaish, manager of the financial affairs of the royal family of Abu Dhabi. Financial General was one of the few companies permitted to operate banks in more than one state. It was organized before Congress outlawed multi-state banking. Its 12 bank with 143 branches had assets of over $2.2 billion, and included First American Banks in the District of Columbia, McLean, Virginia, and Baltimore, Silver Spring and Annapolis, Maryland; Eastern Shore National Bank of Pocomoke, Maryland; Bank of Commerce of New York City and Community State Bank of Albany, New York; Valley Fidelity Bank and Trust Co. of Knoxville, Tennessee; and in Virginia, the Shenandoah Valley National Bank of Winchester; Valley National Bank of Harrisonburg; Peoples National Bank of Leesburg; Round Hill National Bank and Lexington National Bank.[11]
In September 1984, First American Bank of Virginia president and chief executive officer Milton L. Drewer, Jr., announced that the bank's two newest offices at Springfield Mall and Lake Ridge opened successfully. The Lake Ridge office was First American's first entry into Prince William County. Plans for the next quarter included the opening of an office at Apple Blossom Valley Mall in Winchester. The new offices and the recently completed merger with Round Hill National Bank brought to 95 the total number of First American offices serving the Commonwealth.[12]
In 1982, 15 Middle Eastern investors bought Financial General Bankshares, a large bank holding company headquartered in Washington, D.C. All the investors were BCCI clients, but the Fed received assurances that BCCI would be in no way involved in the management of the company, which was renamed First American Bankshares. To alleviate regulators' concerns, Clark Clifford, an adviser to five presidents, was named First American's chairman.
Official Bank Title
1: The Round Hill National Bank, Round Hill, VA
Bank Note Types Issued
A total of $335,030 in National Bank Notes was issued by this bank between 1919 and 1935. This consisted of a total of 27,155 notes (15,056 large size and 12,099 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1902 Plain Back 3x10-20 1 - 3764 1929 Type 1 6x10 1 - 1274 1929 Type 1 6x20 1 - 358 1929 Type 2 10 1 - 1871 1929 Type 2 20 1 - 436
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1919 - 1935):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Round Hill, VA, 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
- ↑ Evening Star, Washington, DC, Fri., Feb. 24, 1956.
- ↑ The Wall Street Journal, New York, NY, Tue., Sep. 30, 1919.
- ↑ Culpeper Star-Exponent, Culpeper, VA, Thu., Jan. 29, 1920.
- ↑ The Washington Herald, Washington, DC, Sun., July 2, 1922.
- ↑ Richmond Times-Dispatch, Richmond, VA, Sun., Jan. 17, 1926.
- ↑ Richmond Times-Dispatch, Richmond, VA, Mon., Feb. 8, 1926.
- ↑ Evening Star, Washington, DC, Wed., Jan. 10, 1934.
- ↑ The Roanoke Times, Roanoke, VA, Wed., June 22, 1955.
- ↑ The Virginian-Pilot, Norfolk, VA, Wed., Sep. 27, 1961.
- ↑ The Daily Advance, Lynchburg, VA, Thu., Oct. 3, 1963.
- ↑ The Huntsville Times, Huntsville, AL, Thu., May 22, 1980.
- ↑ The News-Virginian, Waynesboro, VA, Thu., Sep. 6, 1984.