Red Oak National Bank, Red Oak, IA (Charter 3055)
Red Oak National Bank, Red Oak, IA (Chartered 1883 - Liquidated 1934)
Town History
Red Oak is located in Montgomery County in southwest Iowa.
Red Oak derives its name from Red Oak Creek which flows through the community and was noted for the red oaks on its banks.
In 1869 the community was officially founded when the Chicago, Burlington and Quincy Railroad (called the Burlington and Missouri River Railroad at the time) arrived. The community was named Red Oak Junction by the railroad on March 20, 1876. The junction was a line off the main Chicago to Council Bluffs, Iowa line that went to Nebraska City, Nebraska and on to Lincoln, Nebraska. The Junction name was dropped in 1901.
During the National Bank Note Era, the population of Red Oak was 1,315 in 1870, with a leap to 4,355 in 1900, and a slight rise to 5,778 in 1930. It's highest population was 6,810 in 1980, and the current population is estimated at 5,333 (2018).
For more information on the town of Red Oak, see their Wikipedia page.
Bank History
- Organized Aug 29, 1883
- Chartered Sep 22, 1883
- Conservatorship Mar 22, 1933
- Liquidated Jan 16, 1934
- Succeeded by 13785 (Montogomery County NB (No Issue), Red Oak, IA)
Official Bank Title(s)
1: The Red Oak National Bank, Red Oak, IA
Bank Note Types Issued
A total of $1,630,010 in National Bank Notes was issued by this bank between 1883 and 1934. This consisted of a total of 130,942 notes (115,156 large size and 15,786 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s 1882 Brown Back 3x10-20 1 - 5380 1902 Red Seal 3x10-20 1 - 4400 1902 Date Back 3x10-20 1 - 7100 1902 Plain Back 3x10-20 7101 - 19009 1929 Type 1 6x10 1 - 2086 1929 Type 1 6x20 1 - 545
Bank Presidents and Cashiers
Red Oak National Bank Presidents and Cashiers during the National Bank Note Era (1883 - 1934):
Presidents:
- Justus Clark, 1883-1894
- Benjamin Buchingham Clark, 1895-1930
- William Cochrane, 1931-1932
Cashiers:
- Paul Philo Clark, 1883-1911
- Fred Eugene Crandall, 1912-1932
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
References
- Red Oak, IA, Wikipedia, https://en.wikipedia.org/wiki/Red_Oak,_Iowa
- 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://bbdata.banknotehistory.com