Untitled Document

FIRST NATIONAL BANK OF ROCK ISLAND

In 1863 P. L. Mitchell and Cornelius Lynde, jr., organized the First National Bank of Rock Island, capital $100,000.00, with P. L. Mitchell as president and J. M. Buford as cashier. Its charter number was 108 and it was one of the first national banks to be in operation in the United States, July, 1863. It was also the first bank in the county to organize a savings department, which was in 1864. It continued to pay interest on savings deposits until July 1, 1890, when it went out of business. Mitchell & Lynde succeeding to its commercial business and the Rock Island Savings Bank acquiring its savings deposits. Mitchell & Lynde and the First National Bank were the only banks in Rock island from 1863 to 1871.

In 1871 the Rock Island National Bank was organized with a capital of $100,000.00. Its first officers were the late Captain T. J. Robinson, president, and the late A. Benedict, cashier. Mr. Benedict was soon succeeded as cashier by the late J. F. Robinson. Its present officers and other data will follow in this article.

The Peoples National Bank of Rock Island, capital $100,000.00, was organized in 1874. with Bailey Davenport, president ; Joseph Rosenfield, vice president, and John Peetz. cashier.

The Rock Island Savings Bank. 1890, was the first savings bank, and the first state bank in the county, to be organized under the present Illinois banking laws, capital $100.000.00. E. P. Reynolds, president, and J. M. Buford, cashier, were its first officers.

The Peoples National Bank of Rock Island, capital $100,000.00. was organized in 1874. with Bailey Davenport, president; Joseph Rosenfield, vice president, and John Peetz. cashier.

The Rock Island Savings Bank. 1890. was the first savings bank, and the first state bank in the county, to be organized under the present Illinois banking laws, capital $100,000.00. E. P. Reynolds. president, and J. M. Buford. cashier, were its first officers.

Central Trust and Savings Bank of Rock Island was organized in 1899. capital $100,000.00, H. E. Casteel, president; M. S. Heagy, vice-president, and H. B. Simmon. cashier.

German Trust and Savings Bank of Rock Island, capital $100.000.00, was organized in 1912. with the following officers: Otto Huber. president; J. L. Vernon, vice-president; G. 0. Huckstaedt. assistant cashier.

Another pioneer bank of the county was that of Brown & Devore. of Port Byron, started In 1863. The late W. H. Devore succeeded Brown & Devore and the Port Byron State Bank is his successor.

The private bank of E. E. Rogers & Sons, of Port Byron, was started in 1871 and is still continued by the surviving member of the firm, E. M. Rogers, under the old firm name.

Historical Encyclopedia of Illinois

Illinois Ancestors