Teague National Bank, Teague, TX (Charter 13067)
Teague National Bank, Teague, TX (Chartered 1927 - Liquidated 1985)
Town History
Teague is a city in Freestone County, Texas, United States. The population was 3,384 at the 2020 census. In 1910 the population was 3,288, growing to 3,509 by 1930.
The area was first settled around the time of the Civil War. During the latter half of the nineteenth century, a small community known as "Brewer" grew up at the site. The 1895 Rand McNally atlas shows Brewer with a post office and no express office or railroad.
The residents incorporated the new town as "Teague" in 1906, named after Betty Teague, the niece of railroad magnate Benjamin Franklin Yoakum, who was building the Trinity and Brazos Valley Railway through the county at the time.
Teague had two National Banks chartered during the Bank Note Era, the First National Bank (Charter 8195) and the Teague National Bank (Charter 13067). Both of those banks issued National Bank Notes.
Bank History
- Organized April 14, 1927
- Chartered May 2, 1927
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Consolidated with the First National Bank of Teague (Charter 8195) in January 1945
In January 1927, at a meeting of the stockholders of the Teague State Bank, the following were elected directors: Roy Simmons, chairman, T.B. Poindexter, president; Dr. W.P. Harrison, vice president; J.E. Woods, active vice president; McNeil Drumwright, cashier; Ed Roy Simmons and W.A. Richardson, assistant cashiers; Miss Margaret Cook, bookkeeper and stenographer. The above officers and Herbert Neyland comprised the board of directors. Announcement was made of the surplus increase from $12,000 to $20,000 and the capital remaining at $60,000.
On May 2, 1927, the Teague State Bank converted into a national bank under the name of the Teague National Bank. There were no changes in the officers or directors.
In February 1929, at the annual meeting of the shareholders, J.E. Woods, active vice president, was elected president of the bank to succeed T.B. Poindexter of Wortham who resigned. Other officers were W.P. Harrison, vice president and McNeill Drumwright, cashier. Directors were Roy Simmons, chairman, T.B. Poindexter, W.P. Harrison, J.E. Woods, E.R. Simmons, Herbert Neyland, and H.F. Seale.
In January 1930, the Teague National Bank was remodeled. A large stone front was planned with the remainder of the building stuccoed to match. New marble and bronze fixtures of the clear vision type would be installed along with other new furniture. All officers and directors were re-elected.
In January 1941, the officers were Roy Simmons, Chairman of the Board; J.E. Woods, president; Dr. W.P. Harrison and Noel Hollingsworth, vice presidents; B.H. Webb, cashier; and J.C. McSpadden, assistant cashier. The directors were Roy Simmons, J.E. Woods, W.P. Harrison, Herbert Neyland, and H.F. Seale. The bank had capital and surplus of $100,000.
In July 1941, J.E. Woods of Temple, president of the Teague National Bank and chairman of the board of the Farmers State Bank at Temple announced that Franklyn P. Simmons of Dallas was elected a director of the Teague National Bank. The board of directors also elected Mr. Simmons as the chairman. The new chairman was the son of the late Roy Simmons who was chairman at the time of his death.
In January 1945, controlling interest in the City National Bank and the Prendergast-Smith National Bank of Mexia was purchased by J.E. Woods and Irvin McCreary of Temple. The two banks were consolidated as the First National Bank of Mexia. Woods, former president of the Texas Bankers' Association and a director of the Federal Reserve Bank of Dallas also purchased the First National Bank of Teague and consolidated it with the Teague National Bank which he owned and operated for many years. The new bank would be known as the First National Bank of Teague. Resources of the new Mexia bank totaled $2,945,636. Resources of the Teague bank were $3,079,448.
Official Bank Title(s)
1: The Teague National Bank, Teague, TX
Bank Note Types Issued
A total of $543,360 in National Bank Notes was issued by this bank between 1927 and 1935. This consisted of a total of 98,857 notes (33,424 large size and 65,433 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 4x5 1 - 8356 1929 Type 1 6x5 1 - 8654 1929 Type 1 6x10 1 - 398 1929 Type 1 6x20 1 - 74 1929 Type 2 5 1 - 6442 1929 Type 2 10 1 - 3299 2191-2196 Not issued 1929 Type 2 20 1 - 936
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1927 - 1935):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Texas Bank Note History
- General information on Teague (Wikipedia)
- General information on Freestone County (Wikipedia)
- General information on Texas (Wikipedia)
Sources
- Teague, 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 Waco News-Tribune, Waco, TX, Mon., Jan. 17, 1927.
- Fort Worth Star-Telegram, Fort Worth, TX, Mon., May 9, 1927.
- Corsicana Semi-weekly Light, Corsicana, TX, Fri., Feb. 15, 1929.
- Corsicana Semi-weekly Light, Corsicana, TX, Tue., Jan. 7, 1930.
- Corsicana Semi-weekly Light, Corsicana, TX, Mon., Jan. 20, 1930.
- Austin American-Statesman, Austin, TX, Mon., Jan. 20, 1941.
- The Mexia Weekly Herald, Mexia, TX, Fri., July 25, 1941.
- Fort Worth Star-Telegram, Fort Worth, TX, Wed., Jan., 3, 1945.