First National Bank in Burkburnett, TX (Charter 13668)
First National Bank in Burkburnett, TX (Chartered 1933 - Open past 1935)
Town History
Burkburnett is a city in Wichita County, Texas. It is part of the Wichita Falls, Texas metropolitan statistical area. Its population was 10,939 at the 2020 census. In 1920 the population was 5,300 decreasing to 2,814 by 1940.
Originally settled by ranchers as early as 1856, this community was known by some locals as Nesterville. By 1880, the town had a small store with a population of 132. From 1882 until 1903, a post office operated there under the designation Gilbert, named after the North Texas pioneer Mabel Gilbert. In 1906, a nearby wealthy rancher named Samuel Burk Burnett sold more than 16,000 acres of his land in northern Wichita County to a group of investors who were seeking to extend into the wheat-growing area of Western Oklahoma the Wichita Falls and Northwestern Railway, one of the Frank Kell/Joseph A. Kemp properties based in Wichita Falls.
Within Burnett's former land near the railroad, lots were auctioned off the following year and a post office was established. The town was named Burkburnett by U.S. President Theodore Roosevelt, who visited the area for a wolf hunt that was hosted by the wealthy rancher Burnett. In 1912, oil was discovered west of the town, attracting thousands to the area, and by 1918, approximately 20,000 people had settled around the oilfield. This part of the town's history was chronicled in the film, Boom Town with Clark Gable and Spencer Tracy. The Great Depression had a negative impact on the town's population, which was boosted again in 1941 as Sheppard Air Force Base was established nearby.
Burkburnett had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized March 17, 1933
- Chartered March 20, 1933
- Succeeded 8706 (First National Bank of Burkburnett, TX)
- Assumed its circulation
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Changed charter to STATE and name to First Bank, February 28, 2000
- Still in business as First Bank (December 2024)
In January 1933, directors of the First National Bank of Burkburnett were I.E. Harwell, J.M. Alexander, George T. Kimbell, P.B. Browning, J.R. Chatham, A.R. Hill, and F.T. felty. Officers re-elected were I.E. Harwell, president; J.M. Alexander and J.R. Chatham, vice presidents; A.R. Hill, cashier, F.T. Felty and Glen H. Bear, assistant cashiers.[1] The First National Bank in Burkburnett was chartered on March 20, 1933.
In October 1936, the directors were I.E. Harwell, J.R. Chatham, Geo. T. Kimbell, A.R. Hill, P.B. Browning, and F.T. Felty. The officers were I.E. Harwell, president; A.R. Hill and Geo. T. Kimbell, vice presidents; F.T. Felty, cashier; Alfred Ragsdale, assistant cashier.[2]
On Thursday, January 2, 1941, after several months of planning between the First National Bank and the Farmer's State Bank of Burkburnett, both leading financial institutions in North Texas and Southern Oklahoma for more than 25 years, opened for business as a consolidated bank. The consolidated institution would be known as the First National Bank, according to J.V. Brookshear, president of the old Farmers State Bank. Officers of the Farmer's State Bank were Brookshear, president; J.H. (Jack) Brumley, vice president; and Harold VanLoh, cashier. Old First national Bank officers were O.L. Clark, president; L.L. Harris, vice president; and A.R. Hill, vice president and cashier. The combined assets of the two banks were $851,000 with a new capital of $50,000 and surplus $25,000. Total deposits of the two banks were $775,000 and this represented an increase of $120,000 over the same date last year. The interior of the old First National Bank building would be remodeled and eventually the bank would move into this building. For the time being the consolidated bank would occupy the space used by the Farmer's State Bank. The Farmers State Bank was established in 1910.[3]
On September 30, 1912, the Farmers State Bank of Burkburnett, Wichita County, filed a charter with the Secretary of State. The capital stock was $25,000 and incorporators were O.A. McWhorter, S.A. Fowler, W.C. Myers and others.[4]
On June 1, 1957, J.V. Brookshear, president of the First National Bank of Burkburnett resigned to become vice president of the First National Bank of Aztec, New Mexico. He came to Burkburnett from Wellington where he was cashier in the Wellington State Bank to assume duties as vice president of the former Farmer's State Bank. In January 1941 when the Farmers State Bank and the First National Bank consolidated, Brookshear was elected president of the new bank, a position he held until his resignation. Brookshear had been called a "strawberry grower who banks as a hobby." Behind his home at 508 Magnolia Street he had raised top quality strawberries in addition to his garden and many fruit trees. He was owner of T&O Grocery Stores in Burkburnett and had many other business interests.[5]
First Bank is a locally-owned community bank founded in 1907 as the First National Bank of Burkburnett. First Bank has locations in Wichita Falls, Frisco, Aledo, Burkburnett, and Iowa Park. They also have loan production offices in Austin, McKinney, and Plano.
Official Bank Title
1: First National Bank in Burkburnett, TX
Bank Note Types Issued
A total of $10,050 in National Bank Notes was issued by this bank between 1933 and 1935. This consisted of a total of 1,471 notes (No large size and 1,471 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 2 5 1 - 932 1929 Type 2 10 1 - 539
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1933 - 1935):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Burkburnett, 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
- ↑ Wichita Falls Times, Wichita Falls, TX, Sun., Jan. 15, 1933.
- ↑ Wichita Falls Times, Wichita Falls, TX, Sun., Oct. 11, 1936.
- ↑ Wichita Falls Times, Wichita Falls, TX, Thu., Jan. 2, 1941.
- ↑ Austin American-Statesman, Austin, TX, Tue., Oct. 1, 1912.
- ↑ Wichita Falls Times, Wichita Falls, TX, Fri., Apr. 5, 1957.