BancCentral National Association (formerly Central National Bank)
is a
commercial bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with co ...
based in
Alva, Oklahoma
Alva is a city in and the county seat of Woods County, Oklahoma, United States, along the Salt Fork Arkansas River. The population was 4,945 at the 2010 census. Northwestern Oklahoma State University is located in Alva.
History
Alva was estab ...
. It was built in 1901 and was listed on the
National Register of Historic Places
The National Register of Historic Places (NRHP) is the United States federal government's official list of districts, sites, buildings, structures and objects deemed worthy of preservation for their historical significance or "great artistic ...
in 1984.
[ It had been owned and operated by the Myers family since 1919.
]
History
The Alva National Bank was established in 1899. Officers of Alva National Bank in 1907 were George A. Harbaugh president, and J.H. Schaefer, vice president. During the years between 1907 and 1913, the Alva Security Bank purchased Alva National Bank with Harbaugh as bank president.
In August 1913, G.A. Harbaugh, E. Anderson, T.F. Fennessey and H.E. Noble, owners of Alva Security, organized a new banking institution under the name Central State Bank. The newly named bank continued to operate at the location of the former Alva Security Bank. Central State Bank was considered a "state bank," the deposits were insured by the Depositors Guaranty of the State of Oklahoma. On October 31, 1917, Central State Bank absorbed the Woods County Union Bank. Harbaugh and George Meade had controlling stocks of the Union Bank at that time.
In 1919, W.D. Myers purchased a large interest in the bank, becoming the President, a role he held until his death in 1951.NationsBank
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through mul ...
were acquired by CNB on March 13, 1998. That bank had gone through a series of purchases and mergers beginning with the sale of the Bank of Woodward to Bank IV
Fourth Financial Corporation was a Wichita, Kansas bank holding company that was formed in 1968, the largest and one of the oldest banks in Kansas as well as a dominant bank in Oklahoma when it was bought by Boatmen's Bancshares in 1995.
History
...
in Wichita, Kansas on May 28, 1993. Kyle D. Hughbanks was named President and CEO.
In 2009, the bank caused controversy by demolishing a parking garage that reportedly contained hundreds of bats, mostly Mexican free tail bats.Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all natio ...
(OCC) placed a Consent Order on the bank for "engaging in unsafe or unsound practices". The OCC's charges specifically listed detailed charges involving management, board supervision, capital planning, and risk ratings. Additional charges involved loan reviews, allowance for loan and lease losses, and credit administration. The Consent order formally initiated cease and desist proceedings against the facility.
References
External links
Bank buildings on the National Register of Historic Places in Oklahoma
Commercial buildings completed in 1901
Buildings and structures in Woods County, Oklahoma
National Register of Historic Places in Woods County, Oklahoma
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