Atchison county has a number of strong, flourishing banks, located at Effingham, Muscotah, Potter, Huron, Lancaster and Cummings.
The Farmers and Merchants State Bank, at Effingham, was organized in 1905, with a capital of $12,000 by A. J. Smith, U. B. Sharpless, Fred Sutter, R. M. Thomas and J. W. Davis. Since its organization there have been a few changes among the officers and the board of directors, and in 1915 the officers were: Fred Sutter, president; L. T. Hawk, vice-president; E. J. Kelley, cashier; D. R. Gerety, assistant cashier. The present board of directors is as follows: Fred Sutter, L. T. Hawk, Alex. McKay, U. B. Sharpless, E. J. Kelley.
The capital stock and surplus in 1915 exceeds $15,000, and the bank’s average deposits are about $120,000. In 1910 a handsome and commodious brick building was erected at the corner of Main and Howard streets for its new home, and it was fitted with attractive new fixtures and a burglar-proof vault of modern structures, at a cost of $4,000. This institution is purely a local concern, financed by local capital; all of the stockholders reside in Effingham and vicinity, and comprise leading merchants and farmers of the Effingham district.
The State Bank of Effingham was organized in 1889, and occupies its own quarters in a substantial and commodious brick building on the Main street of Effingham, which was erected in 1897. In 1912 handsome new fixtures and a burglar-proof vault were purchased at large cost. The first president of this bank was Wesley Cummings, and the first cashier was Gilbert Campbell, with Harvey Sharp as assistant cashier and bookkeeper. Mr. Cummings continued as president until his death in 1899, and was succeeded by L. A. Murphy, who in turn was succeeded by T. J. Bohannon, who served until his death, August 29, 1915. A. M. Ellsworth became cashier in 1892, and was succeeded by W. M. Walker, who served in that capacity until 1905, when he is turn was succeeded by Clarence L. Cummings, the present cashier of this substantial and growing institution. The president officers of the bank are as follows: R. G. Bohannon, president; A. E. Mayhew, vice-president; C. L. Cummings, cashier; Carl B. Searls, bookkeeper. The directors are: H. A. McLenon, A. E. Mayhew, R. G. Bohannon and C. L. Cummings. The capital stock is $20,000, with surplus of $13,500 and deposits average $100,000. This institution is one of the most flourishing banks in the county, and its officers and directors are substantial business men and farmers, who are not only highly regarded in Effingham and vicinity, but throughout all of northeastern Kansas.
The State Bank of Lancaster was organized March, 1896, by W. W. Stepp, Mark S. Cloyes, C. L. Cummings, T. J. Bohannon, and Dr. A. L. Charles. T. J. Bohannon was elected its first president, and C. L. Cummings its first cashier. It had a capital stock of $5,000, which subsequently was increased to $10,000, and in 1915 it had a surplus of $5,000, with deposits aggregating $80,000. The present directors of this bank are as follows (1915): M. J. Hines, C. E. Smith, A. J. Smith, J. F. Shell and M. E. Smith, and its present officers are: M. J. Hines, president; C. E. Smith, vice-president; A. J. Smith, cashier, and C. G. Stickler, assistant cashier.
The State Bank of Cummings was organized by H. J. Barber and E. W. Kaufman in 1908, with a capital stock of $10,000. E. W. Kaufman was elected president; B. F. Cline, vice-president, and H. J. Barber, cashier. The capital stock in 1915 was $10,000, with a surplus of $5,000 and deposits aggregating $60,000. A neat and substantial brick building was erected for banking quarters and equipped with handsome fixtures and burglar-proof vault, at a cost of $3,500. The officers of the bank in 1916 were as follows: President, John Ferris; cashier, H. J. Barber, and the directors were John Ferris, H. J. Barber, C. A. Lewis, William Hegarty and F. W. Kaufman. The bank is in a thrifty condition, and has shown a steady increase in growth from the date of its organization.
The Farmers’ State Bank of Potter, Kan., was organized in 1905 by B. C. Daum, C. K. Hawley, P. C. Grenier, Arthur Davis, James Grapengieszer, Fred Potter, John Niemann, C. L. Cline, J. H. Glancy, who subsequently became directors of this enterprising institution. The capital stock was fixed at $12,000 and the first president of the bank was B. C. Daum, and the first cashier was C. K. Hawley. There are thirty-two stockholders in this institution, who are practically all farmers, residing in the immediate neighborhood of Potter. In 1916 the officers were as follows: President, P. C. Grenier; cashier, A. H. Manglesdorf; vice-president, C. E. Hudson, and the capital stock was $12,000, with a surplus of $5,500 and deposits aggregating $80,000.
It is unusual to find two substantial banking institutions in a town the size of Potter, as it is supposed that one bank in such a community would meet all the requirements of its citizens.
The Potter State Bank preceded the organization of the Farmers’ State Bank five years. It was organized in 1900 by O. A. Simmons, L. M. Jewell and Fred Ode, with a capital stock of $5,000. O. A. Simmons remained the active cashier and manager of the bank for two years, being succeeded by L. M. Jewell in 1902, who served until 1906. Mr. Jewell was succeeded by H. A. Ode. A new brick building was erected for this very enterprising financial institution in 1909, and equipped with new modern fixtures and a fine burglar-proof vault. The capital stock of this bank in 1916 was $10,000, with a surplus of $10,000 and deposits aggregating $125,000. The officers for that year were as follows: President, L. M. Jewell; vice-president, Fred Ode; cashier, H. A. Ode, and in addition to the officers, the following prominent farmers of Walnut and Mount Pleasant townships are directors: C. N. Faulcomer, C. W. Carson, E. H. Blodgett and Adam Ehart. There are over seventeen stockholders, all of whom are prosperous and well to do farmers, living in the vicinity of Potter. This bank has grown rapidly, both in prestige and strength since its organization, and its average net annual profits since its organization have been about $2,000.
The Muscotah State Bank was organized by George Storch in 1870, as a private bank, who remained in charge until about 1890, when Mr. Storch sold his interest to Harvey and Calvert. This firm conducted the bank as a private institution until about January 1, 1902, when it was organized into a State bank, with A. B. Harvey, president, and J. H. Calvert, cashier. Mr. Harvey remained president until about 1910, and in that year C. C. Hart became its cashier. The officers of this institution in 1916 were as follows: A. D. Wilcox, president; C. C. Hart, vice-president; R. A. Allison, cashier. The directors are: A. D. Wilcox, C. C. Hart, A. H. Calvert, M. E. Bevens, R. A. Allison and Thomas Ryan. The capital stock is $10,000.00, with a surplus of $10,000.00, and deposits aggregating $100,000.00. This institution is the oldest bank outside of the city of Atchison, and remains today one of the most substantial financial institutions in this part of the State.