First National Bank
Articles of association and organization certificate of the First National Bank of Jacksonville are dated August 8, 1900, being signed by John H. Bolton, Wesley Love, William C. Bolton and A. G. Adams of Jacksonville, P. A. Norris of Greenville and Edmund Key of Marshall. In launching this financial institution in Jacksonville, these men, who became the first Board of Directors, set the capital stock structure at $25,000, represented by 250 shares of stock at $100 each.
Charter No. 5581 for the new bank was issued by the Comptroller of the Currency on September 1, 1900, and the new bank was ready for business, with W. C. Bolton being elected president and A. G. Adams cashier and clerk for the Board on September 5, 1900. At the same meeting, D. P. Jarvis of Troup was elected to the Board.
That things were different in 1900 and 1901 quickly becomes apparent with a glance at the bank's expense account ledger for those years. Some of the items listed include feather duster 30 cents, load of wood $1.25, electric lights for one month $1.25, lamp chimney 15 cents, broom 35 cents, bucket 65 cents, dipper 20 cents, cleaning spittoons 10 cents, and scavenger 15 cents. Contribution to the first bale of cotton cost the bank $2.00, and they also were out some money for labor. Ed. Merritt collected $4.00 for "fixing door and flower stand," while Ed. Aber was paid $1.80 for "labor on the office."
First banking house, a two-story brick, for which the bank paid $4,800, was located at the corner of Main and Commerce streets, where the Austin building now stands. From inception, the new financial institution was accepted as strong and reliable and during the next few years, it grew rapidly. At a meeting on February 15, 1909, W. C. Bolton was advanced to chairman of the Board and A. G. Adams became president. F. L. Collins was named assistant cashier.
On September 22, 1911, W. C. Bolton resigned as chairman of the Board and as a director and W. H. Sory was elected to the chairmanship. At the same time, a decision had been reached to erect a new building on the site and plans for a three-story structure were formulated. Temporary quarters were secured across Commerce Street in the building which until recently was occupied by Marja Brassiere Company, and work began on the new building. After some progress had been made, it was learned that a Longview bank was erecting a five-story building and bank officials, after making a trip to Longview to inspect the construction there, decided to revise their plans to provide a five-story edifice.
This change in plans resulted in some delay, but the building was completed in 1913 and on January 1, 1914, First National Bank moved into its elegant new home, which was to stand for nearly 50 years as a Jacksonville landmark and hub of business activity.
On July 5, 1913, however, M. C. Parrish had been elected president and secretary to the board, succeeding A. G. Adams, and it was he who was the chief executive officer when the building was occupied.
Gus Blankinship became president on January 10, 1922, and F. D. Newton was named assistant cashier at the same time. Mr. Blankinship was to remain to become a civic and community leader and further guide First National to a position of financial prominence. He served as president until November 15, 1960, with the exception of the period June 23, 1956, to March 10, 1959, when William D. Standley held the post.
Jeff Austin, Sr., became president on November 15, 1960, and he continues at this time as chairman of the Board, with Jeff Austin, Jr., serving as president. It was in 1961 that the decision was made to move the bank to its present site across Commerce Street from the old location, but still at the corner of Commerce and Main. Plans were formulated for the present structure, and the new quarters were occupied in March, 1962. Subsequently, the old five-story edifice was dismantled and replaced by the present two-story Austin Building. In recent years, additional property behind the new bank building has been acquired for a modern drive-in facility and other plans for expansion are in the making.
Longest individual tenure with the bank belongs to F. D. Newton, who
joined the organization June 15, 1913, and with the exception of twenty
months away serving in the armed services during World War I, has been
with the institution continuously to the present. He currently holds the
title of advisory chairman of the Board of Directors.
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This five-story building, a part of the Jacksonville skyline for nearly 50 years, served First National Bank from January 1, 1914 until 1962. This early picture does not include the well-remembered clock now located at corner of new building across the street. |
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This ultra-modern two-story building, houses the First National Bank today. Plans for expansion are already being made. |
More Information:
View a list of the early occupants of the First National Bank building
in the 1916 Directory.
Compiled by Greg Smith. If you have any materials you'd like to contribute, please email me.