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SPMC Article of the Month
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Paper Money Vol. XXXVI No. 2 Whole No. 188
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  by FRANK CLARK |
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In January 1887 Thomas Chilton Jasper, who was originally from Kentucky, came to Plano seeking a building from which to conduct a banking business. He organized The Plano National Bank, investing $40,000 of his personal funds in the bank's $50,000 capitalization. The original organizers and stockholders of the bank who participated with jasper were John S. Armstrong, George W. Bowman, Jackson H. Bowman, Olney Davis, George W. Jones, Henry C. Overaker, and W.H. Thomas. They were some of the leading men in Plano and the surrounding area. The bank was organized on July 7, 1887, and received charter number 3764 from the Comptroller of the Currency on July 28, 1887. The I.O.O.F. lodge sold the lower floor of its two-storybrick building to the bank on July 14, 1887. The previous tenant of the ground floor had been H.L. Murray's Saloon. The Plano National Bank remained at this location throughout its existence. T.C. Jasper served 25 years as the bank's first cashier, retiring in March of 1913. George W. Bowman was the bank's president, serving until his death on June 24, 1921. His brother, Jackson H. Bowman, was the banks first vice-president. Other cashiers were W.R. Norton, Claude M. Jasper (T.C. Jasper's son), and D.S. Coleman, who was a nephew of Mrs. T.C. Jasper. Olney Davis served as vice-president, and he was later the Mayor of Plano. When George W. Bowman died, he was succeeded by Joseph H. Gulledge. Gulledge served until The Plano National Bank and The Farmers National Bank of Plano merged to form The First National Bank of Plano on January 1, 1931. Gulledge retired after the merger. On February 28, 1920 C.W. Rye, the night watchman for the city of Plano, was making his usual rounds past the rear of The Plano National Bank building, when he saw two men robbing the bank. In the ensuing action, Rye was shot and mortally wounded. Rye lived for only 15 minutes after help arrived, but he told those who found him that there were two robbers involved. The robbers had chiseled a hole through the brick wall large enough for a man to slip through into the vault. Various estimates stated that Liberty Bonds valued at anywhere from $20,000 to $150,000 had been stolen, but the actual loss to the bank was about $1,100. Additionally, about 200 safe deposit boxes had been opened and looted. At 5 A.M., about 15 minutes after Rye was shot, the sound of an automobile 'thundering past' was reported south of the town. This robbery reminded the citizens of an earlier robbery; in 1895 the bank was broken into, the safe blown open, and $20,000 in cash taken. Unfortunately, no arrests were ever made in either incident. The Plano National Bank issued both large and small-size national bank notes: in large-size, these were Series 1882 $10 and $20 Brown Backs, and Series 1902 $10 and $20 Red Seals, Date Backs, and Plain Back notes. The Series 1929 notes were Type 1 $10 and $20 notes
 Series 1902 Third Charter Plain Back note issued by The Plano National Bank. Signatures of D. S. Coleman, cashier, and J. H. Gulledge, president. The Farmers and Merchants National Bank of Plano was organized on December 17, 1900 and received Charter 5692 from the Comptroller of the Currency on January 1, 1901. The original capital of the bank was $50,000. The organizers of the bank were: Olney Davis, who owned one-third of the stock and served as the banks president during its existence; Henry C. Jones, cashier; John L. Brown, J.H. Carpenter, R.H. Crawford, C.S. Haggard, James N. Mendenhall, Homer L. Murray, and C.F. Saigling-all stockholders and members of the bank's board of directors. On February 2, 1905 a fire spread through downtown Plano, and the bank building was damaged. Plano was known for the many large fires that raged through its downtown area in the late 1800s, and insurance rates were very high because of this constant danger. The bank was placed in voluntary liquidation on December 16, 1920, and a portion of its assets were transferred to the Farmers State Bank of Plano, which had been chartered on December 9, 1920. Olney Davis served as president of the Farmers State Bank until his death in 1922. Arch Weatherford was the vice-president, and Robert A. Davis, Olney's son, was the cashier; the younger Davis succeeded his father as president in 1922. In addition to the three officers, the board of directors also included J.H. Carpenter, W.H. Chaddick, Guy M. Rice, and William Forman. On January 2, 1925 the Farmers State Bank was reorganized as a national bank; on January 6th of that year it officially became The Farmers National Bank of Plano, operating under charter 1,222. The organizers of the new bank were the men who had served as directors of the Farmers State Bank, and they continued to oversee the affairs of the national bank. R.A. Davis and the estate of his late father, Olney Davis, held over half of the shares of the new bank; R.A. Davis became the first president. By a resolution of the stockholders, The Farmers National Bank of Plano was placed in voluntary liquidation on January 23, 1931, and was merged with The Plano National Bank. The succeeding institution was named The First National Bank of Plano. The Farmers and Merchants National Bank of Plano issued Series 1882 Brown Back, Date Back and Value Back notes in denominations of $10 and $20. The total amount issued was $492,450, and the amount outstanding when the bank closed in 1920 was $49,995. The Farmers National Bank of Plano, Charter 12622, did not issue any national bank notes.
 Series 1882 $20 Date Back issued by The Farmers and Merchants National Bank of Plano, with pen signatures of R. A. Davis, cashier, and Olney Davis, president. On December 5, 1930 The First National Bank of Plano was organized; on December 17, 1930 it was issued charter 13511, with a capital of $50,000. This new bank, which began operations on January 1, 1931, was the successor of a merger between The Plano National Bank and The Farmers National Bank of Plano. The organizers of the bank and the principal stockholders included D.S. Coleman, Robert Arthur Davis, Fred Harrington, Charles M. Rice, W.J. Robbins, and Arch Weatherford. These men served as the board of directors. The bank's officers were Robert A. Davis, president; Arch Weatherford, vice-president; and D.S. Coleman, cashier. In the banks first month of existence, it purchased the Liberty State Bank of Murphy, Texas. The First National Bank opened for business in the former location of The Plano National Bank. During the 1950s the bank moved to a new location, and the old building was occupied by the A.R. Schell Insurance Agency. The outside of the old building was changed, but it has since been restored to its appearance in the 1930s. In May of 1979 The First National Bank of Plano became a subsidiary of the Republic of Texas Corporation, a statewide bank holding company. The First National Bank of Plano issued 1929 Series Type I and Type 11 $5 national bank notes. The total amount of circulation was $200,310. When the note-issuing period ended in July 1935 the banks outstanding circulation was $32,000.
 Series of 1929 $5 Type II note issued by The First National Bank of Plano. Engraved signatures of D. S. Coleman, cashier, and R. A. Davis, president. REFERENCES
Plano, Texas-The Early Years. (I986). The book Committee.
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