Berney National Bank: Difference between revisions
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The '''Berney National Bank''' was founded as the '''Central Bank of Birmingham''' on [[March 26]], [[1885]] by [[William Berney]], the second president of the [[National Bank of Birmingham]] and a protege of [[Charles Linn]]. Other initial investors included [[Robert Jemison]], [[L. D. Aylett]], [[Joseph McLester]], and [[Truman H. Aldrich]]. The initial capital was $50,000. | The '''Berney National Bank''' was founded as the '''Central Bank of Birmingham''' on [[March 26]], [[1885]] by [[William Berney]], the second president of the [[National Bank of Birmingham]] and a protege of [[Charles Linn]]. Other initial investors included [[Robert Jemison]], [[L. D. Aylett]], [[Joseph McLester]], and [[Truman H. Aldrich]]. The initial capital was $50,000. | ||
An ornate building was constructed for the bank on half of a lot owned by Berney on [[1st Avenue North]] between [[19th Street North|19th]] and [[20th Street North|20th Street]]s. It was the first building erected on the block. The other half-lot was sold, and with its appreciation in value, more than paid for Berney's original property investment. A second office, at 1902 [[2nd Avenue North Bessemer|2nd Avenue North]] in [[Bessemer]] was constructed in [[1887]]. | An ornate building was constructed for the bank on half of a lot owned by Berney on [[1st Avenue North]] between [[19th Street North|19th]] and [[20th Street North|20th Street]]s. It was the first building erected on the block. The other half-lot was sold, and with its appreciation in value, more than paid for Berney's original property investment. A [[Berney Bank building|second office]], at 1902 [[2nd Avenue North Bessemer|2nd Avenue North]] in [[Bessemer]] was constructed in [[1887]]. | ||
Central Bank was reorganized nine months after its founding as the Berney National Bank with $800,000 in capital stock. The bank was absorbed by [[First National Bank of Birmingham]] in [[1901]]. | Central Bank was reorganized nine months after its founding as the Berney National Bank with $800,000 in capital stock. The bank was absorbed by [[First National Bank of Birmingham]] in [[1901]]. | ||
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[[Category:Demolished buildings]] | [[Category:Demolished buildings]] | ||
[[Category:1st Avenue North]] | [[Category:1st Avenue North]] | ||
Revision as of 11:41, 17 October 2010
The Berney National Bank was founded as the Central Bank of Birmingham on March 26, 1885 by William Berney, the second president of the National Bank of Birmingham and a protege of Charles Linn. Other initial investors included Robert Jemison, L. D. Aylett, Joseph McLester, and Truman H. Aldrich. The initial capital was $50,000.
An ornate building was constructed for the bank on half of a lot owned by Berney on 1st Avenue North between 19th and 20th Streets. It was the first building erected on the block. The other half-lot was sold, and with its appreciation in value, more than paid for Berney's original property investment. A second office, at 1902 2nd Avenue North in Bessemer was constructed in 1887.
Central Bank was reorganized nine months after its founding as the Berney National Bank with $800,000 in capital stock. The bank was absorbed by First National Bank of Birmingham in 1901.
The bank's vice president was Harry L. Badham. W. P. G. Harding served as assistant cashier from 1886 to 1894, when he was promoted to cashier. Two years later he would join First National Bank as a vice president.
References
- Kilpatrick, Andrew (1996) A Legacy of Leadership: A History of AmSouth Bank. Birmingham. AmSouth Bank.
- Blake, Thomas Harry (1972) Birmingham Since 1885. Birmingham: Birmingham Historical Society.