S. S. JOHNSON
An Early Cedar Rapids Settler
The present officers are therefore as follows: Ralph Van Vechten, president; Geo. B. Douglas, vice-president; Kent C. Ferman, cashier; Louis Visha, assistant cashier; Martin Newcomer, assistant cashier; and Miss Anna Smouse, auditor.
The bank has a capital of $100,000, a surplus of $100,000, undivided profits of over $100,000, and deposits of more than $3,500,000.
The Security Savings Bank was incorporated March 18, 1889, and opened for business April 26, 1889.
The original stockholders numbered 87, of whom 22 have since died.
The original directors were G. F. Van Vechten, C. J. Ives, J. R. Amidon, Walter D. Douglas, Chas. H. Clark, Jno. E. Murray, W. W. Higley, J. R. Morin, and W. F. Severa. Changes in the board of directors on account of death or disposition of stock have occurred as follows: In 1894 P. C. Frick succeeded J. R. Morin; in 1895 E. M. Scott succeeded W. F. Severa; in 1896 B. H. Witwer succeeded Chas. H. Clark, whose death occurred during that year; in 1899, on account of temporary removal from the city, W. D. Douglas resigned and was succeeded by C. D. Van Vechten, but on the death of W. W. Higley, later in the year, Mr. Douglas was reelected to succeed him. In 1906 D. K. Harbert succeeded C. J. Ives, who died that year, and in January, 1910, Emma M. Van Vechten was elected to succeed her husband, G. F. Van Vechten, whose death occurred the previous September.
President Van Vechten and Vice-President Ives served the bank continuously from its organization to the date of their respective deaths; Vice-President Amidon continuously since organization, and President Scott the same—first as cashier, then vice-president, and after Mr. Van Vechten's death, as president. On January 1, 1908, J. W. Bowdish was engaged for one year to relieve Mr. Scott, during the building period, and served as cashier throughout that year. Cashier Frank Filip entered the employ of the bank in 1894, was promoted to assistant cashier in 1904, and made cashier in 1909.
The original capital stock was $50,000, which was later increased to $75,000, then to $100,000, and on March 24, 1908, to $150,000. The present surplus is $100,000. Its total deposits are now about $1,800,000, belonging to 5,000 depositors.
The bank first opened for business at 211 South Second street. In 1893 it erected on its own ground, 26×60 feet, on the corner of Second avenue and Second street, a three-story brick bank building, containing the first exclusive safety deposit vaults in the city. In 1902 additional ground was purchased and in 1907 the three-story brick adjoining on the south was purchased and the bank removed to a temporary office in this building, while its old home was replaced by its present eight-story, steel frame, fire proof office building, where its banking apartments are modern and complete.