|
Transcribed
by
Ann Selvig, from:
Allerton, Iowa Centennial,
BANKS
After Allerton was incorporated in 1874, the
first bank “Allerton State Bank”, was housed in the
Allerton State Bank building which was built in
1883. This
building is across the street south of Lewis
Sundries. Because
of frozen assets, the bank had to close its doors in
Jan. 1924. In
1874 Tyler P. Walden was instrumental in organizing
and securing most of the stock for the First
National Bank of Allerton. Officers
were: William
Bradlee, Pres.; John Wright, Vice Pres.; and T. P.
Walden, Cashier. .
In 1908, the Farmers National Bank was
organized. It
was located in the building across the street south
of the Hotel. It
was capitalized at $40,000. Jasper
McCoy was Pres. of the bank; Broughton Bracewell,
Vice Pres., D. T. Sollenberger, Cashier and R. W.
Kaster, Ass’t. Cashier. It also
had to close its doors Dec. 25, 1924. Both banks
failed to re-open.
This bank was burned in March 1927 which
destroyed about 6 businesses on that block. W. L.
Dougherty built the building which is there now and
is occupied by Wayne Manufacturing Co.
Security State Bank was chartered May 20,
1925 and was housed in the old Allerton State Bank
Building. H.
J. Richards was Cashier, D. F. Ockerman, Pres.;
Miner Chase, Vice Pres.; and directors were: G. L.
Armstrong, B. C. Kelly, G. H. Kimple and M. E.
Skinner. At
the end of the year 1925, Totals were $203,091.40,
Deposits - $163,012.46 and Loans, $50,658.25. During the
1930’s, the depression years, it dropped slightly
but by 1942 was higher and each year growing. By 1943
had doubled, by 1950 again doubled and by Jan. 1969
Totals were $2,072,576.78, Deposits $1,372,700.04,
Loans $1,086,218.20.
In 1957 Security State Bank purchased Kenneth
Surbaugh’s grocery store and remodeled it into a
modern bank building.
They moved to the new building Dec. 16, 1957. At that
time Glen Greenlee was Cashier; Tom Alley, Ass’t
Cashier; Lois Gragg and Carmen Bennett, bookkeepers. The
Directors were:
Zell Garratt, Pres.; Perry Sears, Vice Pres.;
H. H. Hillyard, Glen Greenlee, and Richard Toliver.
July 1, 1966 the stockholders sold their
shares to Mr. and Mrs. Bert Millis of Des Moines and
Mr. and Mrs. Roy Meadows of Grimes, Iowa. At that
time there were 600 shares of stock and 45
stockholders. Shares
were sold at $500. a share. From Feb.
24, 1969 to the present date the Security State Bank
operates as an office of the “Citizens State Bank”
of Corydon, Iowa.
The Executive Officers were: H. J.
Richards 5-20-25 to 11-1-43; W. F. Kesterson 11-1-43
to 1-1-46; J. Ray Shriver 1-1-46 to 4-1-50; Glen
Greenlee 4-1-50 to 2-24-69.
At the branch office here Cloyd McCarty is
Ass’t. Vice Pres; Carmen E. Bennett, Ass’t. Office
Manager and Laura Davis, part time employee.
Citizens State Bank here in Allerton has had
two night time break-ins. One on May
28, 1969 but nothing was taken. On June
10, 1971 thieves took some tools from the Ruark
Garage, a .22 caliber rifle from the Western Auto
Store and broke into the bank. The
combination lock on the outside door of the vault
was broken but no damage was done to the time
mechanism. A
tear gas device went off as they were trying to pry
open the door of the safe deposit box room, and
apparently routed them. A
typewriter was the only thing reported taken.
|