First National Bank of Burkburnett, TX (Charter 8706)

First National Bank and Post Office of Burkburnett, Texas, ca1918-1920s. Courtesy of DeGolyer Library, Southern Methodist University

First National Bank of Burkburnett, TX (Chartered 1907 - Liquidated 1933)

Town History

A 1921 Christmas advertisement from the First National Bank of Burkburnett, Texas.

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 May 15, 1907
• Chartered May 22, 1907
• Opened for business July 11, 1907
• Liquidated April 25, 1933
• Succeeded by 13668 (First National Bank in Burkburnett, TX)
• Circulation assumed by 13668 (First National Bank in, Burkburnett, TX)

On Wednesday afternoon, May 15, 1907, stockholders of the First National Bank of Burkburnett met and elected the following directors: J.A. Kemp, W.E. Thomas, J.G. Hardin, H.D. Creath, A. Newby, Frank Kell, and J. Markowitz. Following the stockholders' meeting, the directors organized as follows: J.A. Kemp, president; J.G. Hardin, vice president; H.D. Creath, cashier. The contract for the bank's new one-story brick building was let to Moore and Richolt of Burkburnett. The fixtures had been ordered and a Mosler screw-door safe purchased. The plan was to open for business around July 1st. On May 22, 1907, the comptroller of the currency, William B. Ridgely, authorized the First National Bank to commence business. In July, the bank opened with a good patronage and capital stock of $25,000.

On October 10, 1912, at a meeting of the board of directors, J.I. Staley, cashier, was advanced to active vice president, R.W. Ramming, assistant cashier, was promoted to cashier. The officers of the bank were J.G. Hardin, president; R.W. Ramming, cashier; and V.H. Smith, assistant cashier. The board took the necessary steps to increase the capital stock of the bank to $40,000.

In December 1918, James P. Roodhouse, cashier of the Farmers' State Bank of Greenfield, Illinois, resigned to accept a position in the First National Bank of Burkburnett.

Mr. C.C. Cabiness, active vice president of the First National Bank of Burkburnett, began his banking career at the age of 20 as bookkeeper and stenographer for the First National Bank of Sayre, Oklahoma. After two years he was elected assistant cashier, remaining in Sayre for 7 years. He was then elected active vice president of the First National Bank of Erick, Oklahoma. After five years with this bank he resigned to accept the position as active vice president of the First National Bank of Burkburnett, Texas. Deposits at that time were about $500,000; since the oil development, the deposits had increased to $1,500,000 by February 1919.

On the night of March 10, 1920, automobile bandits made an unsuccessful attempt to rob the First National Bank at Burkburnett. Two men were discovered in the basement of the building but escaped into a touring car that headed in the direction of the Waggoner oil field. In their haste they left their tools and a shot of nitroglycerine on the basement floor.

In March 1921, R.E. Fisher resigned as cashier of the First National Bank of Ryan, Oklahoma, to accept the position of active vice president of the First National Bank of Burkburnett.

In July 1925, Will J. Dickson accepted the position of cashier of the National Bank of Commerce of Frederick, Oklahoma. He succeeded E.J. Johnson who held the position for two years prior to accepting a similar position with the Fidelity National Bank of Oklahoma City.

In September 1927, the officers were J.G. Harding, president; R.E. Fisher, active vice president; Joseph A. Staley and C.C. Cabiness, vice presidents; G.R. Kincaid, active vice president and cashier; A.R. Hill and F.T. Felty, assistant cashiers. The bank had total resources of $925,584.96 with capital $100,000, surplus and undivided profits $25,076.90, circulation $100,000, and deposits $700,508.06.

In January 1928, R.E. Fisher resigned as vice president to become a member of the firm of Meadows and Whitaker, pipe line contractors. The only other change made in the personnel of the bank was the resignation of R.O. Kenley of Wichita Falls as a director. Judge Kenley was succeeded on the board by J.C. Wynne, also of Wichita Falls. Officers and directors elected were J.G. Hardin, president; J.A. Staley, C.C. Cabiness, Glenn R. Kincaid, vice president and cashier; J.M. Alexander, I.E. Harwell, J.O. Staley, and J.C. Wynne, directors; A.R. Hill and Francis. T. Felty, assistant cashiers. In April 1928, C.C. Cabiness, former vice president of the Security National Bank of Wichita Falls, purchased an interest in and became vice president of the Producers National Bank of Tulsa, Oklahoma. Mr. Cabiness resigned and disposed of this Security National bank holdings effective February 1st. He was vice president of the Wichita Falls Clearing House Association, a director in the Wichita Falls Building and Loan Association, vice president of the Wichita Falls Oxygen Co. and was still a vice president and director of the First National Bank of Burkburnett.

On Friday, March 1, 1929, a woman patron thwarted an attempt to rob the First National Bank of Burkburnett when she ran into the street and spread the alarm after four armed men entered the bank and covered the eight employees and four customers. Mrs. Morris immediately ran outside and the bandits became alarmed and fled without getting any money. Bandits made their escape in a Buick sedan thought to have been stolen from L.W. Bell of Wichita County.

In January 1933, the directors of the First National 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 president; A.R. Hill, cashier; F.T. Felty and Glen H. Bear, assistant cashiers.

Official Bank Title

1: The First National Bank of Burkburnett, TX

Bank Note Types Issued

1902 Plain Back $10 bank note with stamped signatures of G.R. Kincaid, Cashier and J.G. Hardin, President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $20 bank note with printed signatures of A.R. Hill, Cashier and J.G. Hardin, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,473,090 in National Bank Notes was issued by this bank between 1907 and 1933. This consisted of a total of 118,290 notes (94,668 large size and 23,622 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	3x10-20	1 - 300
1902 Date Back	3x10-20	1 - 2840
1902 Plain Back	3x10-20	2841 - 23367
1929 Type 1	6x10	1 - 3045
1929 Type 1	6x20	1 - 892

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1907 - 1933):

Presidents:

• Joseph Alexander Kemp, 1907-1909
• John Gresham Hardin, 1910-1930
• Isaac "Ike" Ernest Harwell, 1931-1933

Cashiers:

• Harvey Drake Creath, 1907-1909
• James Irven Staley, 1910-1912
• Richard Walter Ramming, Sr., 1913-1914
• W. Daniel, 1915-1916
• V. H. Smith, 1917-1917
• L. E. Troxel, 1918-1918
• Alonzo Rile "Lonnie" Pribble, 1919-1920
• R. S. Langford, 1921-1922
• John Elmer Haynes, 1924-1926
• Glenn Raymond Kincaid, 1927-1927
• Alvin R. Hill, 1928-1933

Other Known Bank Note Signers

• R.E. Fisher, Vice President 1921
• Francis Thomas Felty, Sr. (Asst Cashier 1928...1930)
• Will J. Dickson, (Asst Cashier 1921...1925)

Bank Note History Links

• First National Bank of Burkburnett, TX History (NB Lookup)
• Texas Bank Note History (BNH Wiki)

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