Citizens National Bank, Raleigh, NC (Charter 1766)
Citizens National Bank, Raleigh, NC (Chartered 1871 - Liquidated 1929)
Town History
Raleigh (/ˈrɑːli/; RAH-lee) is the capital city of the state of North Carolina and the seat of Wake County. It is the second-most populous city in North Carolina, after Charlotte. Raleigh is the tenth-most populous city in the Southeast, the 41st-most populous city in the U.S., and the largest city of the Research Triangle metro area. Raleigh is known as the "City of Oaks" for its many oak trees, which line the streets in the heart of the city. The U.S. Census Bureau counted the city's population as 467,665 in the 2020 census, making it one of the fastest-growing cities in the United States. The city of Raleigh is named after Sir Walter Raleigh, who established the now-lost Roanoke Colony in present-day Dare County.
Raleigh is home to North Carolina State University (NC State) and is part of the Research Triangle together with Durham (home of Duke University and North Carolina Central University) and Chapel Hill (home of the University of North Carolina at Chapel Hill). The name of the Research Triangle (often shortened to the "Triangle") originated after the 1959 creation of Research Triangle Park (RTP), located in Durham and Wake counties, among the three cities and universities. The Triangle encompasses the U.S. Census Bureau's Raleigh-Durham-Cary Combined Statistical Area (CSA), which had an estimated population of 2,037,430 in 2013.
Raleigh is an early example in the United States of a planned city. Following the American Revolutionary War when the U.S. gained independence, the area was chosen as the site of the state capital in 1788 and incorporated in 1792 as such. The city was originally laid out in a grid pattern with the North Carolina State Capitol at the center, in Union Square. During the American Civil War, the city was spared from any significant battle. It fell to the Union in the closing days of the war and struggled with the economic hardships in the postwar period, related to the reconstitution of labor markets, over-reliance on agriculture and the social unrest of the Reconstruction Era.
Raleigh had six National Banks chartered during the Bank Note Era, and all six of those banks issued National Bank Notes.
Bank History
- Organized November 30, 1870
- Chartered January 13, 1871
- Liquidated September 21, 1929
- Succeeded by Citizens Bank of Raleigh
In February 1871, The Citizens National Bank of Raleigh, North Carolina advertised its readiness to conduct business and featured its First Class Fire and Burglar Proof Safe and location at No. 1, Exchange Place, opposite the post office. W.E. Anderson was president and P.A. Wiley, cashier.
On April 17, 1915, Colonel Alexander Boyd Andrews, first vice-president, of the Southern Railway, died at his home in Raleigh after a brief illness, at the age of 74. Colonel Andrews was born in Franklin County, North Carolina, July 23, 1841, and received only a common school education. He entered the Confederate Army as a second lieutenant, First North Carolina Cavalry, was wounded twice and was a captain at the close of the war. After that he engaged in railroad work and in 1869 was superintendent of the Raleigh & Gaston Railway, which afterwards was converted into part of the Seaboard. He occupied official positions with a number of railroads in this State and Georgia, in 1892 going to the Richmond & Danville railroad as third vice-president, later second vice president, being finally general agent and receiver. When the road became the Southern Railway he was made first vice-president and held that position since, being president of a number of smaller roads belonging to the Southern Railway. His greatest constructive work in North Carolina was the building of the Western North Carolina railroad, about 1878. It was estimated that his estate was about a half million dollars. Colonel Andrews was greatly interested in education and since 1885 had been a member of the executive committee of the trustees of the State University. A Confederate veteran, he was a director of the Confederate Soldiers' Home of this State. In 1871 he became a director of the Citizens National Bank of Raleigh on its organization and since 1890 had been its vice president. In 1869 he married Julia M. Johnston, daughter of Colonel William Johnston, of Charlotte, N.C. who survived him along with four sons and one daughter.
In June 1929, the merger of the Citizens National Bank of Raleigh and the First National Bank of Rocky Mount was approved by the directors of the two institutions. W.S. Ryland was president of the Citizens National Bank and Frank F. Fagan of was president of the First National Bank. The merger would result in a new bank to be operated under a State charter with resources of over $12,000,000 and capital funds of over $1,500,000. For the near term, the two banks would continue as separate units and a name for the new bank had not yet been selected. The officers of the First National Bank were: Thomas H. Battle chairman of the board; Frank F. Fagan, president; G.L. Wimberley, A.P. Thorpe, T.A. Avera, J.L. Suitor, vice presidents; W.F. Parkerson, cashier; N.S. Bennett and J.C. Gorham, assistant cashiers. The officers of the Citizens National Bank were: William S. Ryland, president; H.J. Young and G.H. Andrews, vice presidents; W. Reid Martin, vice president and cashier; T.H. Calvert, trust officer; F.B. Brown, John P. Stedman, and C.B. Ewell, assistant cashiers; and J.G. Williams, assistant trust officer.
On Saturday, September 28, 1929, the State Banking Department issued a certificate authorizing the North Carolina Bank and Trust Co. recently formed through merger of several important banks to begin operation Monday of the Central Bank and South Greensboro and Denim branches in Greensboro and branches in Raleigh, Wilmington (The Murchison National Bank), Burlington, Rocky Mount, High Point, Salisbury, Spencer, Scotland Neck, Nashville, and Middlesex. The Citizen's Bank of Raleigh which surrendered its national charter to become a State bank in order to become a part of the merged institutions because of the Federal banking law prohibiting chain banking would open Monday as the Raleigh office of the North Carolina Banking and Trust Co.
The board of directors of the new institution, which would begin with a capital of $2,500,000 and a surplus of $1,500,000 and approximate resources of $40,000,000, met in Greensboro Friday and finally approved the merger details. Headquarters of the bank would be in the old American National Bank quarters where former Governor A.W. McLean, chairman of the board of directors, and President W.S. Ryland formerly president of the Citizens National Bank of Raleigh would have their desks. The Atlantic Bank and Trust Co. of Greensboro, one of the institutions entering the merger, would close its business and most of the personnel would transfer to the old American National. The Atlantic branches at Burlington, High Point, Salisbury and Spencer would continue to operate as branches of the new bank. J.V. Grainger of Wilmington had been elected acting secretary of the whole system and also was vice chairman of the board. William C. York and E.S. Parker, Jr., were attorneys for the bank. It was emphasized that the local units would continue to function as they had with the same personnel and the same consideration for local customers and conditions.
On Monday, September 30, 1929 six well-known and long-established banking institutions of North Carolina were merged into a state-wide organization known as the North Carolina Bank and Trust Company with resources of more than $40 million and executive offices in Greensboro. The directors were A.B. Andrews, Raleigh; W.C. Boring, Greensboro; F.C. Boyles, Greensboro; Julius W. Cone, Greensboro; T.W. Davis, Wilmington; J.S. Duncan, Greensboro; N.A. Dunn, Raleigh; Chas. W. Gold, Greensboro; I.B. Grainger, Wilmington; J.V. Grainger, Wilmington; Angus W. McLean, Lumberton; H.C. McQueen, Wilmington; George Marsh, Raleigh; Julian Price, Greensboro; H.S. Richardson, Greensboro; William S. Ryland, Raleigh; J.W. Simpson, Greensboro; J.L. Sprunt, Wilmington; Walker Taylor, Wilmington; J.J. Towler, Raleigh; and R.G. Vaughn, Greensboro. The general officers were Angus W. McLean, chairman of the board of directors; J.V. Grainger, vice chairman of the board of directors; R.G. Vaughn, Chairman of the executive committee; Julius W. Cone, vice chairman of the executive committee; William S. Ryland, president; I.B. Grainger, executive vice president.
Official Bank Title(s)
1: The Citizens National Bank of Raleigh, NC
Bank Note Types Issued
A total of $2,828,800 in National Bank Notes was issued by this bank between 1871 and 1929. This consisted of a total of 230,444 notes (230,444 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 Original Series 3x10-20 1 - 3100 Series 1875 3x10-20 1 - 3060 1882 Brown Back 3x10-20 1 - 7530 1882 Date Back 4x5 1 - 1725 1882 Date Back 3x10-20 1 - 1253 1902 Date Back 3x10-20 1 - 17100 1902 Plain Back 3x10-20 17101 - 40943
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1871 - 1929):
Presidents:
- Col. William E. Anderson, 1871-1889
- Dr. William Joseph Hawkins, 1890-1894
- Joseph Gill Brown, 1895-1926
- William Semple Ryland, 1927-1928
Cashiers:
- Philip Augustus Wiley, 1871-1882
- Joseph Gill Brown, 1883-1894
- Henry Evans Litchford, 1895-1912
- Graham Harris Andrews, 1913-1926
- W. Reid Martin, 1927-1928
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- North Carolina Bank Note History
- General information on Raleigh (Wikipedia)
- General information on Wake County (Wikipedia)
- General information on North Carolina (Wikipedia)
Sources
- Raleigh, NC, 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 Bankers' Magazine, Vol. 85, July 1912-Dec. 1912, p. 765.
- Raleigh Daily Telegram, Raleigh, NC, Wed., Feb. 8, 1871.
- The Wilmington Morning Star, Wilmington, NC, Sun., Apr. 18, 1915.
- The Charlotte News, Charlotte, NC, Tue., June 4, 1929.
- The News and Observer, Raleigh, NC, Tue., June 4, 1929.
- The News and Observer, Raleigh, NC, Sun., Sep. 29, 1929.