Security National Bank, Wichita Falls, TX (Charter 11762)

Constructed in 1910, The Kemp-Kell Building was Wichita Falls' first high-rise building located at 8th and Ohio Streets. The Security National Bank opened here in 1920. In 2005, the Holt Apartment building was renovated and converted into 41 upscale apartment homes. Courtesy of Google Maps

Security National Bank, Wichita Falls, TX (Chartered 1920 - Liquidated 1931)

Town History

A 1920 advertisement for the Security National Bank of Wichita Falls, Texas, located on the corner of Eighth and Ohio.

Wichita Falls is a city in and the county seat of Wichita County, Texas. It is the principal city of the Wichita Falls metropolitan statistical area, which encompasses all of Archer, Clay, and Wichita Counties. According to the 2020 census, it had a population of 102,316, making it the 43rd-most populous city in Texas.

American settlers arrived in the 1860s, mainly as cattle ranchers. The city was named Wichita Falls on September 27, 1876, as the Wichita River runs through the area and a waterfall was in the river's course in 1876. Just 10 years later in 1886, a flood destroyed the original waterfall on the Wichita River for which the city was named. After nearly 100 years of visitors wanting to visit the no longer existing falls, the city built an artificial waterfall beside the river in Lucy Park. The recreated falls are 54 ft high and recirculate at 3,500 gallons per minute.

A large petroleum reservoir was discovered just west of the city of Burkburnett, a small town in Wichita County in 1912. Burkburnett and its surrounding communities became boomtowns, experiencing explosive growth of their populations and economies. By 1918, an estimated 20,000 new settlers had taken up residence around the lucrative oil field and many Wichita County residents had become wealthy virtually overnight. As people streamed into the local communities in search of high-paying jobs, the nearby city of Wichita Falls began to grow in importance.

Wichita Falls had eight National Banks chartered during the Bank Note Era, and five of those banks issued National Bank Notes.

Bank History

• Organized June 12, 1920
• Chartered June 23, 1920
• Liquidated July 22, 1931
• Absorbed by 4248 (City NB/City NB of Commerce, Wichita Falls, TX) and 3200 (Panhandle National Bank/First NB, Wichita Falls, TX and Wichita State Bank and Trust Company of Wichita Falls
• Receivership November 14, 1933

On July 1, 1920, Wichita Falls' sixth banking institution opened for business. The Security National Bank was organized by J.I. Staley, well-known banker and oil man and C.C. Cabiness, Burkburnett banker. The capital of the bank was $400,000 with a surplus of $100,000 at the start, placing it in a strong position for a new bank. The bank secured quarters in the Kemp and Kell building in the heart of the business district. New fixtures were installed in the banking room which had been redecorated and refinished for the new bank. The following were officers and directors:

• Officers: J.I. Staley, president; C.C. Cabiness and J.W. McReynolds, active vice presidents; W.M. Priddy and J.A. Richolt, vice presidents; N.M. Clifford, cashier; R.B. Rubottom, first assistant cashier; and Earl Breedlove, assistant cashier. For a number of years, J.I. Staley was vice president of the First National Bank of Burkburnett. Mr. Staley was a director in the First National Bank of Burkburnett and also a director in the bank at Devol, Oklahoma. C.C. Cabiness came to Wichita Falls from Burkburnett where for four years he was vice president of the First National Bank. Prior to that he was vice president of the First National Bank of Erick, Oklahoma. He was a director of the National Bank of Commerce at Fort Worth and had over 15 years of banking experience. J.W. McReynolds was for five years a national bank examiner with headquarters at Dallas and Wichita Falls. Before becoming a bank examiner, he was assistant cashier of the American National Bank of Paris, Texas, a bank his father organized and was president. W.M. Priddy was one of the leading businessmen of Wichita Falls and was head of the Priddy Grain Co. He was the owner of valuable oil properties and had marked success in oil operations. J.A. Richolt was a member of the firm of Moore & Richolt and for many years was a member of the city council. N.M. Clifford was previously assistant cashier for the City National Bank of Commerce. For about 10 years he was employed by the Fort Worth and Denver in various capacities, resigning as joint ticket agent in Wichita Falls two years ago to become connected with the City National Bank. R.R. Rubottom came to Wichita Falls from the Robert J. Kleberg & Co., bank at Kingsville, one of the leading banks of the Gulf Coast Country where he was assistant cashier. Mr. Rubottom was with the Kleberg Bank for more than 12 years and came to that institution with three years of banking experience. Earl Breedlove came to the Security National from the City National Bank of Commerce.
• Directors: Jack Barnard, director was a leading young merchant of North Texas and manager for the P.B.M. Company. Linn A. Boyd, director, had been a resident of Wichita Falls all his life. He was a leading real estate man and probably had built more houses than any other man in Wichita Falls. J.W. Bradley, director, was head of the North Texas Furniture Co. and had been a prominent merchant of Wichita Falls. He served for several terms on the city council. E.S. Gooch, director, was president of the Lawton Oil Co., and the Roboerson Petroleum Co. He was manager and principal owner of the Gooch Davis oil interests. He owned a large dairy farm near Lawton, Oklahoma and wheat lands in Canada. For 22 years he was a practicing physician and surgeon. For several years he lived on his oil leases at Burkburnett, maintaining his office on his lease to oversee their development. Dr. J.C.A. Guest, director, came to Wichita Falls about 12 or 13 years ago to engage in the practice of medicine. He had oil and other property interests. Henry Hobbs, director, was president of the Texas Chief Oil Co. and was extensively engaged in oil operations. He had extensive cattle interest and banking interest in West Texas. He was a resident of Wichita Falls. J.G. Hardin, director, was one of the pioneer citizens of Wichita County and his name was a synonym throughout the area for thrift and solid worth. He was one of the largest landowners of Wichita County, owning many acres of rich oil lands. He was president of the First national Bank at Burkburnett. Thomas F. Moody, director, was head of the Moody Oil and Refining Co. and had extensive oil interests. He had large banking interests and cattle land in west Texas. R.W. Ramming, director was owner of tracts of the famous Ramming lands including some of the richest oil bearing lands in North Texas. Mr. Ramming had been an oil operator for a number of years. J.A. Staley, director, was the father of J.I. Staley, president of the bank. Like his son, Mr. Staley was a banker, oil man and land owner. He had been a resident of this section for many years. S.W. Sibley, director, was a banker, oil man and real estate operator. He owned a controlling interest in several banks in East Texas and had extensive interest in the oil fields in the Wichita County area. John W. Thomas, director, was secretary of the Retail Merchants Association and was engaged in real estate operations. For a time he was acting secretary of the Wichita Falls Chamber of Commerce.
  

  A 1923 advertisement for the Security National Bank of Wichita in its new location in the Staley Building on the corner of Eighth and Indiana.

In January 1930, Glenn R. Kincaid, an active vice president of the Security National for several months was made one of the directors. J.I. Staley was president; N.M. Clifford and Glenn R. Kincaid, active vice presidents; J.A. Richolt, J.C. Mytinger, J.A. Staley, J.G. Harden, vice presidents; Myron A. Ellis, cashier; James W. Ryan and R.L. Mathis, assistant cashiers. In addition to Mr. Kincaid, the directors re-elected were J.I. Staley, J.A. Richolt, J.G. Hardin, Dr. J.C.A. Guest, Henry Hobbs, J.C. Ward, L.W. Fritz, J.C. Wynne, N.M. Clifford, J.A. Staley, J.C. Mytinger, P.F. Gwynn, Jack C. Barnard, John W. Thomas, Joe E. Ward, Harry C. Weeks, and Myron A. Ellis. On Tuesday, December 9, 1930, at the regular meeting of the board of directors, J.C. Mytinger was elected active president of the bank for the year 1931, succeeding J.I. Staley who had been chairman of the board and president of the bank since it was organized. Mr. Staley would continue to serve as chairman of the board. Mr. Mytinger had been vice president of the bank for a number of years. A local group of citizens composed of Frank Kell, J.J. Perkins, N.M. Clifford, J.C. Mytinger, and others recently purchased from J.I. Staley a substantial block of stock in the Security National Bank. Mr. Staley had all along been the bank's largest individual stockholder and after the sale remained a large stockholder. On account of his extensive and varied business interests, Mr. Staley had never been active as president of the bank and it was his desire that the bank have a president active in its management. Mr. Mytinger announced that he was severing his connection with the American Refining properties in order to have the time to perform his duties as president.

In January 1931, the Security National bank made no changes in personnel. Recently J.C. Mytinger was chosen president and he assumed his duties on January 1st. J.I. Staley was chairman of the board. In the stockholders' meetings reports were made of the past year and approval was given the officers for the splendid results attained. The banks of Wichita Falls were in an excellent condition and during the past year had built up large reserves.

A 1931 advertisement for the Clearing House Association of Wichita Falls.

On Monday, April 20, 1931, an announcement appeared in the Times Record News that the directors decided to discontinue business and would pay all depositors in full on demand. A number of the directors desired to retire from business and were anxious to wind up the affairs of the bank as quickly as possible. In May 1931, Robert K. French, assistant cashier of the First National Bank, was appointed city treasurer by City Manager George D. Fairtrace. Mr. French succeeded Mike Ellis, former cashier of the Security National Bank. The Security National bank which only recently discontinued business was formerly the city's depository. City council awarded the city's account to the First National Bank on Monday, April 27th.

Official Bank Title

1: The Security National Bank of Wichita Falls, TX

Bank Note Types Issued

1902 Plain Back $10 bank note with stamped signatures of N.M. Clifford, Cashier and J.I. Staley, President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $20 bank note with printed signatures of M.A. Ellis, Cashier and J.I. Staley, President. The Government Printing Office prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $10 bank note with printed signatures of M.A. Ellis, Cashier and J.I. Staley, President. Barnhart Brothers & Spindler (BBS) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

A total of $1,638,920 in National Bank Notes was issued by this bank between 1920 and 1931. This consisted of a total of 131,236 notes (105,952 large size and 25,284 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 - 26488
1929 Type 1	6x10	1 - 3186
1929 Type 1	6x20	1 - 1028

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1920 - 1931):

Presidents:

• James Irven Staley, 1920-1929
• James Christian Mytinger, Sr., 1930-1930

Cashiers:

• N. M. Clifford Sr., 1920-1926
• Hugh Henry Cotner, 1927-1928
• Myron A. Ellis, 1929-1930

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• Security National Bank, Wichita Falls, TX History (NB Lookup)
• Texas Bank Note History (BNH Wiki)

Sources

• Wichita Falls, 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