First National Bank, Asheboro, NC (Charter 8953)
First National Bank, Asheboro, NC (Chartered 1907 - Closed (Merger) 2016)
Town History
Asheboro is a city in and the county seat of Randolph County, North Carolina. The population was 25,012 at the 2010 census. It is part of the Greensboro–High Point metropolitan area of the Piedmont Triad and is home of the state-owned North Carolina Zoo.
Asheboro was named after Samuel Ashe, the ninth governor of North Carolina (1795–1798), and became the county seat of Randolph County in 1796. It was a small village in the 1800s, with a population of less than 200 through the Civil War; its main function was housing the county courthouse, and the town was most active when court was in session. Asheboro's population only began to grow significantly following its connection to railroads: the High Point, Randleman, Asheboro and Southern Railroad first served the city in 1889, followed by the Montgomery Railroad in 1896.
Asheboro emerged as a textile production center in the 20th century with the opening of the Acme Hosiery Mills in 1909. After World War II, the city's manufacturing sector grew to include batteries, wires and food products. The city's main tourist attraction, the North Carolina Zoo, opened in 1974.
Asheboro had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized July 23, 1907
- Chartered November 30, 1907
- Opened for business December 4, 1907
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into Capital Bank Corp. in Raleigh, NC, October 26, 2016
The Bank of Randolph was opened in 1897 with a capital of $16,000 with Dr. J.M. Worth as its president. When Dr. Worth died, Mr. O.R. Cox was elected president. In 1903, members of the board of directors were O.R. Cox, W.P. Wood, P.H. Morris, C.C. McAlister, C.J. Cox, W.F. Redding, A.M. Rankin, W.H. Watkins, Hugh Parks, Benj. Moffitt, E.M. Armfield, A.W.E. Capel, Dr. F.E. Asbury, Jas. Parkin, and W.J. Armfield. W.J. Armfield was president of the National Bank of High Point.
In May 1907, the First National Bank of Asheboro planned to begin operations as soon as the handsome brick building of Lewis and Winslow Hardware Company could be erected. The bank would be located in the southeast corner of this building, fronting Depot Street. Mr. J.S. Lewis and other prominent businessmen were the promoters of the institution. Under such good management, success was predicted. It joined the Bank of Randolph in this thriving and growing town.
In November, William Price of Davidson installed the new safe in the vault of the First National Bank. Mr. Price represented the Manganese Steel Safe Co. On November 30, Charter No. 9853 was issued to the bank by William B. Ridgely, Comptroller of the Currency. On Wednesday, December 4, 1907, The First National Bank opened its doors for business. The first depositor was G.G. Hendricks & Co. and the first check paid was drawn by Lewis & Winslow Hardware Co. in favor of M.L. Davis.
In January 1911, the officers were J.S. Lewis, President; C.J. Cox, Vice President; and Jno. M. Neely, Cashier. The bank had capital of $25,000 and resources of $217,000.
Official Bank Title(s)
1: The First National Bank of Asheboro, NC
Bank Note Types Issued
A total of $807,190 in National Bank Notes was issued by this bank between 1907 and 2016. This consisted of a total of 80,719 notes (59,648 large size and 21,071 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 4x10 1 - 875 1902 Date Back 4x10 1 - 2500 1902 Plain Back 4x10 2501 - 14037 1929 Type 1 6x10 1 - 2756 1929 Type 2 10 1 - 4535
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1907 - 2016):
Presidents:
Cashiers:
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 Asheboro (Wikipedia)
- General information on Randolph County (Wikipedia)
- General information on North Carolina (Wikipedia)
Sources
- Asheboro, NC, 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
- The News and Observer, Raleigh, NC, Sun., June 28, 1903.
- The News and Observer, Raleigh, NC, Sat., May 25, 1907.
- The Randolph Bulletin, Asheboro, NC, Thu., Nov. 21, 1907.
- The Randolph Bulletin, Asheboro, NC, Thu., Dec. 5, 1907.
- The Evening Chronicle, Charlotte, NC, Mon., Jan. 23, 1911.
- The Randolph Bulletin, Asheboro, NC, Wed., May 6, 1914.