Berney National Bank: Difference between revisions
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[[Image:Berney National Bank.jpg|right|thumb|255px|Berney National Bank in 1887]] | [[Image:Berney National Bank.jpg|right|thumb|255px|Berney National Bank in 1887]] | ||
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 of Birmingham''' 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 | 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. | ||
Central Bank was reorganized nine months after its founding as the Berney National Bank with $800,000 in capital stock. | Central Bank was reorganized nine months after its founding as the Berney National Bank of Birmingham with $800,000 in capital stock.A separate [[Berney Bank of Bessemer]] was opened by William and his brother [[Chollet Berney|Chollet]] in [[1887]]. | ||
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. | 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 the [[First National Bank of Birmingham]] as a vice president. Berney National Bank was absorbed by First National in [[1901]]. | ||
==References== | ==References== | ||
* {{White-1981}} | |||
* Kilpatrick, Andrew (1996) ''A Legacy of Leadership: A History of AmSouth Bank.'' Birmingham. AmSouth Bank. | * 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. | * Blake, Thomas Harry (1972) ''Birmingham Since 1885''. Birmingham: Birmingham Historical Society. | ||
[[Category:Defunct banks]] | [[Category:Defunct banks]] | ||
[[Category:1885 establishments]] | |||
[[Category:1901 disestablishments]] | |||
[[Category:1885 buildings]] | [[Category:1885 buildings]] | ||
[[Category:Demolished buildings]] | [[Category:Demolished buildings]] | ||
[[Category:1st Avenue North]] | [[Category:1st Avenue North]] | ||
Revision as of 13:57, 17 October 2010
The Berney National Bank of Birmingham 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.
Central Bank was reorganized nine months after its founding as the Berney National Bank of Birmingham with $800,000 in capital stock.A separate Berney Bank of Bessemer was opened by William and his brother Chollet in 1887.
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 the First National Bank of Birmingham as a vice president. Berney National Bank was absorbed by First National in 1901.
References
- White, Marjorie Longenecker (1981) The Birmingham District: An Industrial History and Guide. Birmingham: Birmingham Historical Society ISBN 9990230099
- 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.