First National Bank in Brownsville, TX (Charter 12792)
First National Bank in Brownsville, TX (Chartered 1925 - Liquidated 1932)
Town History
Brownsville is a city in the U.S. state of Texas and the seat of Cameron County, located on the western Gulf Coast in South Texas, adjacent to the border with Matamoros, Tamaulipas, Mexico. The city covers 145.2 sq mi, and had a population of 186,738 at the 2020 census. As of the 2020 U.S. Census, it is the 139th-largest city in the United States and 18th-largest in Texas. It is part of the Matamoros–Brownsville metropolitan area. The city is known for its year-round subtropical climate, deep-water seaport, and Hispanic culture.
The city was founded in 1848 by American entrepreneur Charles Stillman after he developed a successful river-boat company nearby. It was named for Fort Brown, itself named after Major Jacob Brown, who fought and died while serving as a U.S. Army soldier during the Mexican–American War (1846–1848). As a county seat, the city and county governments are major employers. Other primary employers fall within the service, trade, and manufacturing industries, including a growing aerospace and space transportation sector. It operates international trading through the Port of Brownsville. The city experienced a population increase in the early 1900s, when steel production flourished.
Due to significant historical events, the city has multiple houses and battle sites listed under the National Register of Historic Places. The city played a primary role in the Mexican–American War with the Siege of Fort Texas and the first engagements of the war: The Battle of Palo Alto and The Battle of Resaca de la Palma. Several key events of the American Civil War took place in the city, such as the Battle of Brownsville and the Battle of Palmito Ranch. The city was also involved in the Texas Revolution.
Brownsville had four National Banks chartered during the Bank Note Era, and all four of those banks issued National Bank Notes.
Bank History
- Organized July 7, 1925
- Chartered July 16, 1925
- Succeeded 4577 (First National Bank of Brownsville, TX)
- Assumed the circulation of 4577
- Liquidated January 12, 1932
- Absorbed by 7002 (Merchants National Bank, Brownsville, TX)
- Circulation assumed by 7002 (Merchants National Bank, Brownsville, TX)
On July 1, 1925, reorganization of the First National Bank was going forward with the aid of banking officials. R.B. Creager was president of the institution with Grover C. Wagner, active vice president having been elected to that post recently replacing J.B. Lindsey. Mr. Creager issued the following statement: "Plans for the reorganization of the First National Bank of Brownsville have been consummated and go into effect at once. The bank will have a capital of $200,000 and a surplus of $50,000, fully paid." The same officers and the same members of the board of directors were expected to hold over with some new directors likely added to the board. The bank was organized in 1891 by J.D. Anderson and for many years was the only chartered banking institution in Texas south of Corpus Christi and east of Laredo. The capital stock until the reorganization was $100,000.[1]
On July 16, 1925, acting comptroller of the currency, Charles W. Collins, authorized the First National Bank in Brownsville, charter 12792, to commence business.[2]
On Tuesday, January 12, 1926, there were no changes made in the boards of directors in Brownsville, the First National Bank adding several names to the list of directors and confirming the appointment of W.B. Sellers as vice president. The First National following its election had eleven directors. They were R.B. Creager, chairman of the board, John T. Lomax of San Benito, A. Wayne Wood, W.B. Sellers, C.P. Barreda, Wm. S. West, G.C. Wagner, F.W. Seaburh, Bert Cromack, Al Parker of La Feria, and R.C. Morris. The officers elected were R.B. Creager, president; John T. Lomax, C.P. Barreda, and A. Wayne Wood, vice presidents; W.B. Sellers, active vice president; G.C. Wagner, vice president and cashier; and Ephrem Champion, assistant cashier.[3]
In January 1930, Mr. R.B. Creager arrived in Washington and was passing some time at the Wardman Park Hotel. Mr. Creager was tendered the appointment of Ambassador to Mexico by President Harding and president Coolidge, both appointments he declined. He was collectors of customs of Brazos de Santiago district under President Roosevelt and President Taft. Mr. Creager was elected chairman of the Republican State committee of Texas in 1921 and had been a member of the Republican National Committee since 1923.[4]
In June 1931, L.B. Glidden, formerly cashier of the Dallas Bank and trust Company, was named cashier of the First National Bank in Brownsville. "Some may wonder why I resigned as cashier of a large bank in a large city in order to take a similar position in aa smaller community," Mr. Glidden said, "I did it because I believer there is more future here. I have unbounded confidence in Brownsville, and believe it will grow rapidly. When the port is completed, the population will double almost immediately." Mr. Glidden succeeded G.C. Wagner who would remain with the bank as vice president. Mr. Glidden was with the Dallas National Bank when it was organized in 1920 and remained with that institution until it consolidated recently with the Dallas Bank and Trust Company. Ben F. Read, active vice president of the First National Bank and a director of the Dallas Bank and Trust Company said the local bank was fortunate in securing the services of so experienced a banker.[5]
On Monday, October 12, 1931, the Merchants National Bank purchased the assets of the First National Bank in Brownsville giving the resulting institution resources of about $5,000,000. This made it the largest bank in south Texas outside the cities of San Antonio and Houston. Business of the merged institutions would be conducted in the Merchants National Bank building when the banks opened Tuesday morning. The present First National Bank building would undergo extensive repairs and alterations and the bank would occupy the old First National when those repairs were completed. John Gregg would continue as president of the Merchants National with Mr. Creager and Mr. Wagner becoming vice presidents. Ben F. Read, former active vice president of the First National and Mr. Wagner would become active vice presidents of the Merchants National Bank. R.B. Creager, Ben F. Read, G.C. Wagner and C.P. Barreda of the board of the First National would join the board of the Merchants National.[6]
The Merchants National failed in March 1932, about six months after it had been merged with the First National. John Gregg, president of the Merchants National was convicted on December 2, 1932, of false entry, misapplication and conspiracy to misapply more than $250,000 of the bank's funds. Three other officers of the bank, Everette J. Ticker, vice president and cashier; Benito Longoria, Jr., assistant cashier; and P.M. Lamberton, vice president, were indicted along with Gregg.[7]
Official Bank Title
1: The First National Bank in Brownsville, TX
Bank Note Types Issued
A total of $852,050 in National Bank Notes was issued by this bank between 1925 and 1932. This consisted of a total of 68,704 notes (39,412 large size and 29,292 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 - 9853 1929 Type 1 6x10 1 - 3774 1929 Type 1 6x20 1 - 1108
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1925 - 1932):
Presidents:
Cashiers:
Other Known Bank Note Signers
Bank Note History Links
Sources
- Brownsville, TX, 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 Brownsville Herald, Brownsville, TX, Wed., July 1, 1925.
- ↑ The Brownsville Herald, Brownsville, TX, Wed., Sep. 23, 1925.
- ↑ The Brownsville Herald, Brownsville, TX, Wed., Jan. 13, 1926.
- ↑ Evening Star, Washington, DC, Sun., Jan. 19, 1930.
- ↑ The Brownsville Herald, Brownsville, TX, Wed., June 24, 1931.
- ↑ The Brownsville Herald, Brownsville, TX, Mon., Oct. 12, 1931.
- ↑ Fort Worth Star-Telegram, Fort Worth, TX, Sat., Dec. 3, 1932.