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First National Bank recognized for 125 years
Nevada Daily Mail
First National Bank of Nevada was recognized for a major milestone, 125 years in operation, Wednesday. April 9.
Officials with the federal banking system presented First National Bank President David Swearingen and Executive Vice President Joe Swearingen with a plaque, a letter of congratulations from Thomas Curry, Comptroller of the Currency, and an anecdotal timeline of notes from regulatory visits over the years.
The comptroller is the administrator of the federal banking system and chief officer of the Office of the Comptroller of the Currency. The OCC supervises more than 2,000 national banks and federal savings associations and about 50 federal branches and agencies of foreign banks in the United States.
Making the presentation were Karen Swingler, assistant deputy comptroller with the Kansas City field office, and Matt Gilmore, national bank examiner.
Swingler pointed out that First National Bank was one of the five oldest national banks in Missouri.
National banks differ from state banks in that they are federally chartered and regulated.
FNB Nevada was chartered Nov. 18, 1888 and opened Jan. 12, 1889.
"My grandfather came to the bank in 1893, serving as the cashier, which at that time, was the highest operating official, not the president as it is today," reflected David.
And the pay of that time was reflected that way as well, with the cashier receiving a higher salary than the president, said Swingler, reading from the historical notes taken from federal files.
"The officers were capable and prudent," she said of those findings from that time, "and men of good reputation."
The family continued its management of the bank.
"My father became president in 1957 when his father passed away and I became president when he passed away in 1990," said David.
Both Swingler and Gilmore read some more notations from the historical notes, and then concluded by saying that, "It's great to have a national bank of this age," said Swingler.
"We certainly appreciate you taking the time to come to our bank to present us with this," said David Swearingen.
In reflecting on his family's involvement and the bank's 125 years, he added, "Our family has been a part of this bank since my grandfather came to Nevada and we have been proud to serve our community and the surrounding area," said Swearingen.
Timeline
* The bank went through the Great Depression of the 1930s and the ag recession of the '80s. "We struggled during those times, but were able to weather those storms and come back strong. During our most recent call report, the bank exceeded $100 million in assets. However, our philosophy has always been to be the safest, not the biggest, bank."
* The bank has always been on the northeast corner of the square and was originally 20 feet deep when standing on the east end of the building. It was then expanded 40 feet to the west. The first 20 feet were added in 1909, and in 1958, another 20 feet were added. The bank grew even larger in 1973 when the drive-through facilities were added. In 1998, the entire façade of the bank was renovated, returning the exterior to its roots and making the building look like it did in 1909. Additional office space was added on the second floor at the same time.
Current officers: President David Swearingen, Senior Vice President Wayne Reinert, Executive Vice President Joseph Swearingen, Vice President Jim Nichols, Vice President/Executive Secretary Jeannie Hirschman, Vice President Bill Spaur, Assistant Vice President Rita McCoy, and Cashier Joyce Swearingen.
Current directors: Tom Mooneyhan, David Swearingen, Barbara Ferry, Hayden Morgan, Margaret Swearingen Mordy, Joseph Swearingen, Wayne Reinert, and Stafford Swearingen.