Butte County
Biographies
FIRST NATIONAL BANK OF OROVILLE
FIRST NATIONAL BANK OF OROVILLE.--Of prime importance to the real and permanent prosperity of a community are its financial institutions, as is shown by the rise and development of the First National Bank of Oroville. As far back as June, 1892, the Bank of Oroville was incorporated as a state bank, and was converted into a national bank, under the title of the First National Bank of Oroville, in 1903. The charter of the old bank, however, was retained, and in 1909 its activities were revived by amending its by-laws and taking as capital $25,000 from the profits of the First National Bank. It thus became a savings bank, having at the present time capital, surplus, and profits in excess of $50,000 and assets of $400,000.
The First National Bank was converted from the Bank of Oroville in 1903, taking the capital of the old bank, which at that time was $50,000; while today the capital, surplus and profits exceed $100,000, and the assets are over $700,000. Both the Bank of Oroville and the First National Bank were successful investments, having paid semi-annual
dividends to their stockholders without a single failure to do so since 1893.
The Bank of Oroville was organized in 1892 with S. C. Lillis as president, C. H. Schiveley as cashier, and C. W. Putnam as assistant cashier. W. W. Gingles succeeded Mr. Schiveley in 1903, when the First National was chartered, and since that date he has remained as its cashier, serving the numerous patrons of the institution with general satisfaction. Mr. Lillis died in January, 1917, and was succeeded by H. C. Lillis as president, and with the following officers to assist him: W. W. Gingles, vice-president and cashier; C. W. Putnam, vice-president and assistant cashier; and E. F. Mitchell, assistant cashier, and thereby contributing to maintain that confidence so necessary in the relations between a fiscal concern and the public. J. M. Ward was a director of both institutions from their organization until he retired in 1917. The officers of the Bank of Oroville Savings are: H. C. Lillis, president; W. W. Gingles, vice-president; C. W. Putnam, cashier; and E. F. Mitchell, assistant cashier.
The
bank had various homes until 1898 when, with characteristic enterprise, it
erected its present building at the corner of Myers and Bird Streets. At that
time it was the only business building on the block, but in 1903 the addition
was built, making the
Transcribed by Sande Beach.
Source: "History of
Butte County, Cal.," by George C. Mansfield, Pages 570-573, Historic Record Co, Los Angeles, CA, 1918.
© 2007 Sande Beach.
Golden Nugget Library's Butte County Biographies