COOPER COUNTY BANKS
The First Hundred Years of Banking in Cooper County
The first bank in what would eventually become Missouri, was chartered in 1813 and established in St. Louis in 1816 as the Bank of St. Louis. This bank failed in 1819. The Bank of Missouri, which was chartered in 1817, failed in 1822. A branch of the United States bank had several branches throughout the state, but after President Andrew Jackson, in 1836, vetoed a bill to renew the bank’s charter, it, too, was forced to close.
Barely a state for 15 years, Missouri found themselves without a bank. Thankfully, the Legislature authorized the Bank of the State of Missouri in 1837. This was the only bank in Missouri for the next 10 years.
In 1847, Boatmen’s Saving Institution was established in St. Louis. That same year, Dr. William H. Trigg opened Boonville’s first bank. A Boonville branch of the Bank of St. Louis opened in 1856. No other banks were opened until after the Civil War. The Central National Bank was established in 1865.
Just as Missouri grew, so did our banking system. At least 10 other banks were established in Cooper County between 1865 and 1919.
The Commercial Bank of Boonville was organized in 1883.
The following year on June 13, 1884, the Pilot Grove Bank was organized.
The Bank of Bunceton was organized on August 25, 1887.
Two more banks were organized during the 1890s. The Cooper County Bank of Bunceton organized on June 26, 1893, and The Farmer’s Stock Bank of Blackwater followed in 1895.
With the coming of the twentieth century, the Bank of Woolridge organized in June 1902.
On April 11, 1905, the Bank of Pleasant Green organized. It is interesting to note that this bank didn’t pay any dividends until it had an accumulated, and certified surplus, an amount equal to the capital stock, which was in 1913. From 1913 to 1919 it paid an average dividend of 15 per cent.
The Bank of Blackwater organized in 1906 and the Farmers and Merchants Bank of Otterville organized in September 1914.
Another Boonville bank, the Boonville National Bank, organized October 30, 1916.
Kemper Bank was organized in Boonville in 1924 and was later renamed the UMB Bank, Boonville Branch. When the UMB Bank moved to it’s new Boonville location, the old bank became the Boonville City Hall.
Most of these banks were capitalized with $10,000. Not much by today’s standards, but then, $10,000 went a lot further a hundred years ago than it does today.
Source: Elizabeth Davis, Historically Yours
The Bank of Missouri, which was chartered in 1817, failed in 1822.
A branch of the United States Bank had several branches throughout the state, but after President Andrew Jackson, in 1836, vetoed a bill to renew the bank’s charter, it, too, was forced to close.
Barely a state for 15 years, Missouri found themselves without a bank. Thankfully, the Legislature authorized the Bank of the State of Missouri in 1837. This was the only bank in Missouri for the next 10 years.
In 1847, Boatmen’s Saving Institution was established in St. Louis. That same year, Dr. William H. Trigg opened Boonville’s first bank. A Boonville branch of the Bank of St. Louis opened in 1856. No other banks were opened until after the Civil War. The Central National Bank was established in 1865.
At least 10 other banks were established in Cooper County between 1865 and 1919.
Just as Missouri grew, so did our banking system. including The Commercial Bank of Boonville in 1883, The Pilot Grove Bank in 1884 and the Bank of Bunceton in 1887.
Two more banks were organized in 1890’s. The Cooper County Bank of Bunceton organized June 26, 1893 and the Farmer’s Stock Bank of Blackwater in 1895.
The Bank of Speed started in Speed, MO in the 1870s, and they opened a branch in Prairie Home in 1900. The financial soundness of the bank in 1893 was they had capitol of $10,000 and a cash on hand of $650. They were solid according to the rules of the day. Bank examiner records stop listing this bank in 1916.
The Bank of Blackwater was organized in 1906 and the Farmers and Merchants Bank of Otterville organized in September 1914. Another Boonville bank, the Boonville National Bank, organized October 30, 1916.
With the coming of the twentieth century, the Bank of Wooldridge organized in 1902. On April 11, 1905, the Bank of Pleasant Green organized. It is interesting to note that this bank didn’t pay any dividends until it had accumulated a certified surplus equal to the capitol stock, which was in 1913.
From 1913 to 1919 it paid an average dividend of 15 percent.
Kemper State Bank was founded in 1928 changed its name to UMB BANK (United Missouri Bank, Boonville in 1972; then UMB Bank in 1994).
Source: Elizabeth Davis, Historically Yours
BANK TENURE
OUT OF COUNTY BANKS
1816-1819 - Bank of St. Louis. Bank failed in 1819
1817-1822 - Bank of Missouri. Bank Failed in 1822
1836-1847 - United States Bank. Bank closed 1836
1837-1847 - Bank of the State of Missouri
1856-? - Bank of St. Louis - Boonville Branch
1865-? - Central National Bank
SPEED
1870's-1916 - Bank of Speed
1900-1916 - Prairie Home - Branch of Bank of Speed
BOONVILLE
1883-? - Commercial Bank of Boonville
Central National Bank
1906-? - Boonville National Bank
1916 - Boonville National Bank
1901 - Farmer’s, Commercial, and Central National Bank
Citizens Trust Company of Boonville
1901 - Commercial Bank of Boonville
National Bank of Boonville
1906 - Central National Bank
1928 - Kemper State Bank –Boonville, founded in 1928 changed its name to UMB Bank
PILOT GROVE
1884 - Pilot Grove Bank
1913 - Present day Citizens Community Bank
BUNCETON
(Bunceton Banks have had several names)
1887 - The Bank of Bunceton
1893 - Cooper County Bank of Bunceton (latest bank name)
BLACKWATER
1895 - The Farmer’s Stock Bank of Blackwater
1906 - The Bank of Blackwater
CLIFTON CITY
Closed in ?
WOOLDRIDGE
1902 - The Bank of Woolridge
PLEASANT GREEN
1905-1925 - The Bank of Pleasant Green
OTTERVILLE
1914-1929 - Farmers and Merchants Bank of Otterville
KEMPER STATE BANK
Kemper State Bank Boonville, founded in 1928 still in operation as UMB Bank.
Changed its name to United Missouri Bank Boonville in 1972; then to UMB Bank in 1994
Source: Elizabeth Davis, Historically Yours
Clifton City Bank – then and now. More than that is shown, look at the old photo of what was Main St...now no name and a gravel drive.
Clifton City – Bank
In the late 1800 Clifton City had a bank. It was a beautiful brick building standing on the South side of town. In 1886, W.B. Lane was cashier at the Bank, and Peter J. Devine, was Vice-President of the Bank. Over the years the building has been a home to several different business - a café, grocery store and many other things. Today it still stands as a place for storage, and is slowly losing its beauty. Abraham Potter who was born in 1825 was a stockholder in the bank. Abraham was a stanch democrat, and had ever stoutly maintained the principles of that Party. Abraham was a very close friend of Jesse James and he would come to Clifton City to visit. The bank closed in 1929 .
By: Carolyn Aggeler
BANK DIVIDENDS
Today most of us would not consider a bank that did not pay interest or "dividends" on our savings account. It is interesting to note that the Bank of Pleasant Green didn’t pay any dividends until it had an accumulated a certified surplus, an amount equal to the capital stock, which was in 1913.
From 1913 to 1919 it paid an average dividend of 15 per cent.
Most of these banks were capitalized with $10,000. Not much by today’s standards, but then, $10,000 went a lot further a hundred years ago than it does today.
Source: Elizabeth Davis, Historically Yours
Citizens Bank of Pilot Grove
October 29, 1929, went down in history as Black Tuesday, and America went from the Roaring Twenties to the Great Depression. Banks failed and millions of people lost their jobs, homes, and life savings.
Things were still bad in November 1932, but Henry A. Seltsam, cashier and secretary of the Citizens Bank of Pilot Grove, had a plan. It was a daring plan that Seltsam presented to the bank directors on Monday, November 7, 1932.
“It is not fair to the faithful to permit steady withdrawals to undermine the bank’s stability, and then be forced to close with subsequent division of the remainder. I favor closing the bank tomorrow. “There is one chance to save it. If all the depositors will sign a moratorium not to draw out for 18 months what they now have on deposit, we can save the bank.”
After much discussion and planning, the plan was accepted. All banks were closed the following day for the Presidential election, but the Citizens Bank of Pilot Grove remained closed on Wednesday as well. Working day and night, Seltsam and director Wallace Burger began collecting signatures. The catch: the voluntary impounding of funds would not go into effect until, and unless, 100 per cent of the depositors signed the agreement. Every depositor had an opinion about the plan, but most agreed the bank must be saved. Finally, with the signatures of all depositors, the bank re-opened and deposits grew. Pilot Grove might have been on the road to recovery, but the nation was not.
While signatures were being collected in and around Pilot Grove, the people were voting for a new President. Franklin D. Roosevelt was that man. FDR took office on March 4, 1933, and immediately ordered every depository in the nation closed. After each was audited, only the financially sound were allowed to re-open. And thanks to the foresightedness of Seltsam and the directors, the Citizens Bank of Pilot Grove was one of the first to do so.
Source: Pilot Grove Bicentennial
COUNTY BANKS AND TRAIN ROBBERIES
Pleasant Green - Cooper County’s First Bank robbery took place in Pleasant Green in 1926. The Robbers were finally captured by a Cooper County Sheriff with one arm.
Jesse James - The James Gang hits Otterville:
Jesse James is probably one of the most notorious outlaws of the Wild West. He is credited with the first daylight bank robbery in the US, although it was probably his "gang" that pulled off the $60,000 heist in Liberty, Missouri, and not Jesse himself.
However, there is little doubt that Jesse was an active participant of the 1876 train robbery near Otterville. Wanting to rob a bank in Minnesota, the James-Younger Gang set out to arrange financing for their trip up north by robbing a train in Missouri. They chose a dangerous stretch of tracks called Rocky Cut near Otterville, Missouri, to hold up the train.
On the evening of July 7, 1876, eight members of the gang captured the night guard at Rocky Cut and used his lantern to flag down the train. Once stopped, the gang boarded the train, robbed both safes, then disappeared into the night. Not far from there, the gang stopped to split up the money before riding off in separate directions. Today, that location is marked by a stone in a roadside park just east of Otterville.
Hobbs Kerry, a new member of the gang, was arrested a few days later and gave up the names of the other seven men involved in the robbery. They were Frank and Jesse James, Cole and Bob Younger, Bill Chadwell, Clell Miller, and Charlie Pitts. For some reason, the third Younger brother, Jim, had not been among them. However, by that time, the gang was headed north to Northfield, Minnesota, where their planned bank robbery ended in failure in more ways than one.
Bill Chadwell and Clell Miller were killed during the hold up. Charlie Pitts was killed when Bob, Jim, and Cole Younger were captured. Only Frank and Jesse James made it out of Minnesota.
Bob Younger died of tuberculosis on September 16, 1889, while still in prison. Jim and Cole Younger were paroled, but Jim committed suicide on October 19, 1902.
Jesse James was murdered on April 3, 1882, by gang member Robert Ford for the $5,000 reward on Jesse's head. However, Ford was never able to collect.
After giving up their lives of crime, Frank James died February 18, 1915, and Cole Younger died March 21, 1916.
Source: "Discover Cooper County" by Ann Betteridge
A blackberry cobbler recipe by Zerelda James, Jesse James' mother
