The United States of America is a relative newcomer on the world stage. The same goes for our institutions, especially those of a financial nature.
The oldest continuously operated bank in the world is the Banca Monte dei Paschi di Siena, located in Italy. Founded in 1472, the bank is more than twice as old as the US itself.
But while Europe enjoys a head start in making history, America has some storied institutions of its own – many of which, if given the chance, could go on for half a millennium or longer.
Main Street Clients Celebrating 100+ Years of Community Banking Excellence
In its August Member Milestones article, the Independent Community Bankers of America recognized nearly 20 Main Street clients for their incredible longevity. These legacy banks are cornerstones in their communities to this day.
Let’s take a moment to appreciate some of the oldest banks in America and their remarkable history of service.
The Bank of Halls – Halls, TN – 125 Years
In 1899, pharmaceutical company Bayer received the first patent for aspirin. Later that year, Ernest Hemingway would be born in Oak Park, IL, and Henry Ford would resign from the Edison Illuminating Company so he could focus on something called an “automobile.”
Meanwhile, in Halls, TN, a bank was opened with barely two nickels to rub together for supplies, a ledger, or even a safe. That bank was, fittingly, the Bank of Halls. Thanks to the tireless penny-pinching of its lone cashier, Isaac Burton Tigrett, the Bank of Halls defied the common opinion that it would not succeed.
These days, accountholders in Halls enjoy business checks, online banking, and HELOC loans from their trusted local institution. Better still, the great nephew of the bank’s first president, W. T. Nunn, serves as chairman while his sons work in the C-suite.
Congratulations to The Bank of Halls!
The Union Bank – Beulah, ND – 100 Years
Even today, $15,000 is a lot of money. For that amount, you might be able to purchase a gently used car. But in 1924, $15,000 could get your bank up and running with tremendous promise – the kind of origin that kicks off a century of service.
Today, The Union Bank boasts $280 million in total combined assets – a little over 18,000 times its starting capital. But even well-funded banks aren’t guaranteed to go the distance, especially when they change hands and locations through the years.
Thankfully, The Union Bank survived the Great Depression, a world war, and the digital revolution to continue offering vital services to accountholders from six branches in North Dakota.
Congratulations to The Union Bank!
As we wait for the 2024 numbers to roll in, we can look at past years to chart the rise of check fraud.
Other Main Street Clients Celebrating Anniversaries
The Bank of Halls and The Union Bank are just two of the Main Street partners celebrating centennials (100 years), quasquicentennials (125 years), and sesquicentennials (150 years) in 2024.
With a combined service of nearly 2,000 years, 16 additional Main Street partners have an excellent reason to pop the champagne.
- Ambler Savings Bank –150 years
- Bank of Iberia – 125 years
- Community Bank – 100 years
- Community State Bank – 125 years
- Elevate Bank, National Association – 150 years
- First Community Bank – 125 years
- Fowler State Bank – 125 years
- Glenwood State Bank – 125 years
- Global Innovations Bank – 125 years
- Heritage Bank – 125 years
- HomeTown Bank – 100 years
- Lowry State Bank – 125 years
- Merchants State Bank – 125 years
- Peoples State Bank of Wells – 100 years
- Schuyler Savings Bank – 100 years
- The Bank of Lafayette – 125 years
Congratulations to these legacy financial institutions and their communities!
Main Street Congratulates Our Long-Serving Check Program Partners
Since 1999, Main Street has served as a nationwide check vendor for community banks and credit unions far and wide. With 25 years under our belt, we know how difficult it can be to weather economic storms and technological turbulence.
Each of these long-serving financial institutions is a true inspiration. As a family owned company, Main Street knows that success isn’t guaranteed. It takes something truly special to keep a bank or credit union operating for a century or longer.
After all, more financial institutions have closed their doors or merged with larger competitors than exist in present-day America. The trick, according to history, isn’t opening a bank so much as keeping it open.
Main Street is honored to serve the oldest banks and the newest. For business checks, strategic check program management, custom collegiate and high school sports checks, and so much more, there’s Main Street in Birmingham, AL!
Service that Lasts for Centuries – Choose Main Street for Your Check Program Needs
From computer checks to festive gift envelopes, Main Street pulls out all the stops in supporting check programs new and old. Increase check program profits with a check vendor who cares – speak to a Main Street representative about your needs today!
Sources:
“History.” n.d. www.gruppomps.it. https://www.gruppomps.it/en/about-us/history.html.
“Member Milestones 2024: Steadfast Banks for Modern Times.” 2024. Independent Banker. 2024. https://www.independentbanker.org/article/2024/08/06/member-milestones-2024-steadfast-banks-for-modern-times?.
“1899 Archives | HISTORY.” 2024. HISTORY. 2024. https://www.history.com/this-day-in-history/year/1899.
“Our Heritage – Bank of Halls.” 2024. Bankofhalls.com. 2024. https://www.bankofhalls.com/our-heritage.aspx.
“History | the Union Bank.” 2014. Theunionbank.com. 2014. https://www.theunionbank.com/about/history.