First National Bank of Carroll
This is the oldest financial institution in Carroll County. The
nucleus of this bank was formed in 1808 when the banking house
of O. H. Manning was established. Under the original caption the
bank was conducted until 1876 when Mr. W. L. Culbertson
purchased the interest of Mr. Manning and established the Bank
of Carroll which he conducted until 1883 when Mr. Macomber and
Mr. Coburn became associated with him. In 1889 the First
National Bank of Carroll was organized by Mr. G. W. Wattles and
others with a capital stock of $50,000 which in 1892 was
increased to $100,000.00. In 1895 Messrs Culbertson, Macomber
and Coburn the proprietors of the Bank of Carroll purchased the
entire stock of the First National Bank consolidating the two
institutions, making it one of the most important financial
concerns of this section of the state. The present officers and
directors are W. L. Calbertson, President and Director; H. W.
Macomber, Vice-President and Director; Robert E. Coburn, Cashier
and Director; James E. Griffith, Director; Chas. Walterscheid,
of Halbur, Director. The bank has always maintained the most
liberal policy. The capital surplus and undivided profits
aggregate nearly $120,000.00.
Mr. W. L. Culbertson, the president of the bank was born in
Pennsylvania, Dec. 3rd, 1844. Two years later his parents moved
to Philadelphia where they resided until 1860 when they came to
Iowa, locating in Scott County. The business career of our
subject was begun in Scott county, and in 1869 he came to
Carroll. Two years later he was nominated on the republican
ticket to the office of county auditor to which he was elected
and re-elected two years later, In '74 and '75 he filled the
position of County Treasurer. January 1st, 1876 he retired from
the Treasurer's office and purchased the banking interest of O.
H. Manning and organizing the Bank of Carroll which he conducted
alone until 1883 when he became associated with Mr. Coburn and
Mr. Macomber.
In 1883 he was a member of the Iowa Legislature from Carroll
county. He has several times been elected to fill local offices
and has never faltered in the faithful discharge of all duties
incumbent upon him. Some years ago he had erected and elegant
home which is considered one of the finest in the city. In all
matter of public interest or improvement he is a strong
supporter and gives liberally his time and funds for the
development of the public interest.
~ This sketch transcribed by: Sandra
Carter IAGenWeb volunteer |
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