FIRST NATIONAL BANK OF IMPERIAL was
organized in 1901 with a capital stock of $25,000 by LeRoy Holt, W. F. Holt,
George Chaffey and A. H. Heber. The bank was then located where the Imperial
Valley Hardware store is now located. Holt Brothers operated a store in the
building at that time. The bank remained in that location for a period of
two years and in 1903 moved into one of the first brick buildings in
Imperial, one door south of its present location. In 1907 the capital stock
was increased to $50,000 and in 1908 moved into its present location. The
bank owns the building next door as well as its present quarters. The
officers are: President, LeRoy Holt; vice president, N. A. Mackey; cashier,
O. K. Thomas; assistant cashiers, C. W. Hinderks and C. S. Hill. The total
resources of the bank are $725,000 and total deposits are $550,000. All of
the men identified with the bank are recognized as far-sighted, keen and
discriminating business men and the bank has enjoyed a steady and rapid
growth.
THE FARMERS AND MERCHANTS BANK OF IMPERIAL
was formerly organized as the Imperial City Bank in 1907. The following
persons were named as directors in the original articles of incorporation:
Geo. A. Parkyns, J. R. Stevenson, R. H. Benton and W. D. Carey. Mr. Byron H.
Cook was made secretary of the bank and became its first cashier. To these
the following numbers were added as directors for the ensuing year: F. C.
Paulin, A. J. Waters and Geo. J. Dennis, all of Los Angeles, California. The
authorized capital of the bank was $50,000, but it operated from the date of
its incorporation until January 1, 1918, with a paid up capital of $25,000.
In January, 1910, the controlling interest of the bank was purchased by L.
J. Thomas. Several of the former stockholders retiring, the stock was placed
largely in the vicinity of Imperial. The name of the bank was changed to
Farmers and Merchants Bank of Imperial, with commercial and savings
departments. At the time of the purchase of the institution the deposits
were $32,000; loans and discounts $31,000. Under the new management the bank
continued to grow until it became necessary to increase its capital stock.
On January 1, 1918, Frank Wilkin, formerly of Lenox, Iowa, subscribed the
balance of the capital stock and succeeded to the presidency. The current
statement of the bank shows deposits $315,500, loans and discounts $235,000,
and the affairs of the institution are in splendid condition. It has always
been the policy of the institution are in splendid condition. It has always
been the policy of the institution to recognize first the claims of local
demands, and it has steadfastly refused to purchase bonds or outside
securities, waiving this policy only in behalf of Liberty Bonds.
IMPERIAL VALLEY BANK OF BRAWLEY. - Since
its organization in 1903 this bank has had a steady growth. It transacts a
general commercial and savings banking business, in accordance with the laws
governing banks in this state. The bank was originally started in an adobe
building and was known as the First Bank of Brawley. F. S. Miller was
president and Wm. T. Dam cashier. Mr. Miller served in this capacity for one
year, when F. C. Paulin of Los Angeles was made president. The following
year W. F. Holt secured controlling interest and was made president. The
name of the bank was changed to Imperial County Bank and Mr. Holt served as
president for three years. Disposing of his stock, W. T. Dunn was made
president in 1905 and has served in that capacity since. The bank started
with a capital stock of $25,000 and in 1912 the capital stock was increased
to $50,000, and in 1917 it was again increased to $100,000. The present
officers of the Imperial Valley Bank are: President, Wm. T. Dunn; vice
president, W. H. Best; cashier, M. G. Doud; assistant cashiers, Roy
Stilgenbauer and H. J. Ingram. In 1915 the bank was enlarged and remodeled
at an expense of $20,000. The bank's business has been conducted in a
creditable and up-to-date manner, all modern methods and appliances being
used, and it has given patrons the service that is now looked for by the
progressive business man. The interior of the bank is finished in rich
circassian walnut and the interior effect is seldom seen outside the larger
cities.
FIRST NATIONAL BANK OF BRAWLEY. - Among the
solid, conservative and reliable moneyed institutions of Imperial County is
the First National Bank of Brawley. The bank was organized in 1907 with a
capital stock of $25,000 and a surplus of $25,000. In 1915 the capital stock
was increased to $50,000 and surplus $10,000. In 1917 the capital stock was
again increased to $70,000 and surplus $30,000. The original officers of the
bank were: President, W. T. Dunn; vice president, R. E. Wills; cashier, R.
L. Angell; assistant cashiers, R. Clayton Lee, Frank Ford, and Edwin A.
Wells. The bank started in the Oakley Block, a mercantile building, corner
of Sixth and Main Streets, and in 1914 the bank purchased the entire
building and takes in the three stores facing Main Street and erected an
extension on Sixth Street which is occupied by four offices. The bank was
remodeled in 1917 and modern up-to-date fixtures and vault were installed,
costing $20,000. The bank has been progressive from the start and keenly
interested in the upbuilding of Brawley and community.
AMERICAN STATE BANK OF BRAWLEY was
incorporated June 18, 1914, with a capital stock of $50,000; surplus and
profits, $7,500. The bank has enjoyed a steady growth. The original
officers were: President, F. S. Lack; vice president, P. P. Hovley; cashier,
William Smith. The bank opened a branch bank at Calipatria on November 10,
1914, and has had a steady growth coincident with the growth and development
of that town. The present officers of the bank are: President, P. P. Hovley;
vice president, F. S. Lack; cashier, G.H. Williams; the directors are J. S.
Nickerson, George Nowlin, Dewey Carey, J. L. Taecker, Harry Withrow and Ray
Griswold. Both banks transact commercial and savings business in all
respects in accordance with the laws governing such banks. The interiors of
both banks are roomy and well ventilated.
FIRST NATIONAL BANK OF HOLTVILLE was
organized in 1904 with a capital stock of $25,000 and was later increased to
$50,000. The original officers were LeRoy Holt, president, and R. G.
Webster, cashier. The present officers of the First National Bank of
Holtville are: LeRoy Holt, president; M. C. Blanchard, vice president, and
E. L. Carson, cashier. This bank is the oldest in Holtville and has enjoyed
a steady growth, and is known as being among the leading financial
institutions of Imperial County, there being an efficient corps of
assistants and a strong board of directors.
THE HOLTVILLE BANK was organized in
December, 1910, with a capital stock of $25,000. The first officers of the
bank were: President, M. L. Hazzard; vice president, R. W. Hoover; cashier,
S. E. Shaw. The bank started in its present location and moved to its own
handsome structure in April, 1918, to the corner of Holt and Fifth Streets
in the Alamo building. The bank installed their present fixtures in the new
location which are modern and up-to-date. The bank is one of the reliable
and conservative banks of the county and has enjoyed a steady growth since
it opened its doors. It has one of the newest and most modern vaults and
safe deposit equipments in the Valley. The bank owns the entire building,
and at present sub-leases to the drug store, telephone exchange, hotel and
dining room.
THE INTERNATIONAL BANK OF CALEXICO was
organized in October, 1916, with a capital stock of $25,000. The original
officers were Frank D. Hevener, president; J. F. Steintorf, vice president,
and Samuel E. Rottman, cashier. The assets of the bank as per last call of
the State Banking Department were $271,000. Its remarkable growth in such a
short period is another evidence of the rapid strides the City of Calexico
is making.
FIRST NATIONAL BANK OF CALEXICO. - The
forming of the First National Bank of Calexico was first conceived by John
F. Giles and J. M. Edmunds, who applied for a charter in January 1910. The
organization was perfected and charter granted for $25,000 capital stock and
doors opened for business March 14, 1910, on the corner of Paulin and Second
Streets with the following officers in charge: Sidney McHarg, president;
Edward Dool, vice president; J. A. Morrison, cashier; J. M. Edmunds,
assistant cashier. The bank enjoyed prosperous business from the start. On
the first of November, 1913, Mr. D. A. Leonard of the First National Bank of
El Centro, associated himself with the institution and in January, 1914, was
elected cashier and J. M. Edmunds president. The following May the deposits
had grown to over $250,000, and it was found advisable to increase the
capital stock to $50,000. This bank continued to grow by leaps and bounds,
and in January, 191, the deposits had passed the half-million mark. It was
then found necessary to again increase the capital stock to $100,000 to
enable the bank to accommodate the volume of business and take care of its
clients. It became evident that the bank was fast out-growing its present
quarters and the management proceeded to negotiate for space in the Anderson
block on the corner of Second and Rockwood, where it enjoys the distinction
of occupying the finest banking quarters of any town of the size of Calexico
in Southern California. In January, 1918, the bank had total resources of a
million and a half.
EL CENTRO NATIONAL BANK was organized and
opened for business March 9, 1909, with F. B. Fuller president, W. T. Bill
vice president, and F. W. Wilson cashier. The capital stock is $30,000. The
present officers of the bank are: President, F. B Fuller; vice president, W.
T. Bill; cashier, T. L. Doherty. The building is 50 x75 feet. The interior
is arranged so as to secure the best working conditions, being roomy and
well ventilated, and the vault is of the most modern type. The bank has been
very progressive from the start and is numbered among the solid,
conservative, and most thoroughly reliable moneyed institutions of Imperial
County. The bank owns its own building and is unexcelled for its equipment
and banking facilities.
FIRST NATIONAL BANK OF EL CENTRO was
organized May 10, 1909, with a capital stock of $50,000. In 1915 the capital
stock was increased to $100,000. The original officers of the bank were:
President, Le Roy Holt; vice president, True Vencell; cashier, J. V. Wachtel,
Jr. The present officers of the bank are: President, Le Roy Holt; vice
president, Franklin J. Cole; cashier, A. H. Keller; assistant cashiers, F.
J. Gianola, Ira L. Hobdy and R. L. Tilton. A consistent and steady growth
has been maintained until, at the present time, it ranks among the foremost
of the financial institutions of the Valley. The interior of the bank is
finished in mahogany, and every method and appliance is being used such as
are seen in the larger cities. The fire-proof vault, which is of the most
modern type, is equipped with a time lock.
THE SECURITY SAVINGS BANK OF EL CENTRO was
organized June 1, 1912, with a capital stock of $25,000. Directors: LeRoy
Holt, Geo. E. Kennedy, Phil. D. Swing, J. V. Wachtel, Jr., Virgil McCombs,
W. H. Brooks, B. F. McDonald, E. J. M. Hale, W. T. Bill. November 4, 1916,
the name was changed to Security Commercial & Savings Bank. J. K. Hermon,
president; J. Stewart Ross, vice-president; O. G. Horne, cashier. The three
officers, O. Luckett and J. L. Travers, composed the board of directors.
January 1, 1918, the capital stock was increased to $50,000 - $10,000
surplus earned, $2200 undivided profit.
FIRST NATIONAL BANK OF CALIPATRIA. - The
growth of this bank has been most remarkable. Under able management it was
organized in 1915 with a capital stock of $25,000; surplus, $25,000. The
bank occupies a good location in the town of Calipatria, in a stately
building, and owns its new home. Every appliance and convenience known to
modern banking for the purpose of safeguarding the funds and valuables of
its patrons have been installed. The officers of the bank are: President,
Wm. T. Dunn; vice-president, V. R. Sterling; cashier, M. Ferguson. The
deposits of this institution have grown from $60,000 to $250,000 from
October, 1917, to March, 1918. The interior of the bank is finished in
silver-finished oak, which gives a very pleasing effect.
FIRST NATIONAL BANK OF HEBER was organized
and started business on April 2, 1914. The officers of the bank were: Frank
Beers, president; George Varney, vice-president; B. C. Beers, cashier. The
capital stock is $25,000. The present officers are: President, A. W. Beed;
vice-president, G. E. Brock; cashier, W. A. Harlan. Deposits, $140,000;
undivided profits, $8000.