Imperial Valley press., 1921-01-10
BANK MERGER
At CA[EX|C0
COMPLETED
TO-DAY
CalexicO National and First
National Bank COnsOli-
dated Under One Manage
ment, Doors Open for
Business on Time.
Especial to The Press

CALEXICO, Jan. 1C.-Ihe final
details OF the Consolidation Cf the
Calexicc National Bank with the
First National bark of this city
were completed late Saturday after
nocn, when the complete office
equipment, records, etc were
transferred to the First National
Eank building.
Promptly at 900 o'clock this morn
ing the doors OF the First National
ctened ready for business. The task
Decentralization was finished an {
10th banks were ready TO serve tneir
patrons in larger ana mere efficient
manner Cnly under one roof and one
name-FlrsC National Bank Of Cal
cxico.
No Change in Personnel.
President Edmunds of the First Ma
tional said this morning that every
effort would be made to serve the
customers of the combined banks in a
manner entirely satisfactory and that
they would do everything possible to
make the customers of the merged
banks feel at home in their new con-
nection.
For time at least there will prac-
tically be two men on each job in the
big bank so that there Will be no con-
fusion and no lack of information
available for customers.
What changes will be made in the
personnel Of the clerical forces OF
course cannot be foreseen or an
nounced but no radical reduction of
the force is anticipated at this time.
The First National as it stands to-
day is the largest, and with its $780,
900 capital and $150,00O surplus fund
and its strong connection in Los An
geles, is the strongest bank in
CaleXico, and takes rank with
the strong financial institutions OF
the southland outside the leaders in
the larger cities.
New Era at Hand
The merger marks an important
step in local financial history. The
first bank in CaleAico was state
bank organized by w. F. Holt and
conducted by him as a state bank un-
til 1906 or 1907, when the late Fritz
Kloke, one of the strong and progress
sive men of his day here and one OF
the successful men who invaded the
Alaskan gold fields, purchased the
Holt bank interests.
In 1910 the state bank was merged
into the Calexico National bank with
a capitalof $4,000 and with Fritz
Kloke, George w. Anderson, A. s.
Carr, William Guntermann, r. B. Bur
hans, l.. A. Potter and A. F. Andrade
as directors. Mr.. Kloke was later
elected president and William Gunter
mann cashier. This position was helt
by Mr.. Kloke until the time of his
death little over a year ago, wher
his nephew, Fred Guntermann, was
elected president, and William Gun
termanh. cashier. Later the latter
was elected president and j.. O. Butt:
cashier. this organization continuing
until the present time, when botf
join the new bank, the former in tn
capacity of vice president.
The capital of the Calexico Nationa
was steadily increased as its business
crew and prospered. In 1912 it wa
raised to $35,000, the next year t.
$4,000 and again the next year t.
$4,000. In 1917 it was raised to SIS,
600 and on July IL, 1919, jumped tt
100000. AL these increases wer
made to keep pace with the growtl
of Calexico and the demands of th'
business.
First National Starts.
The history of the First Nationa
hank is coincident with that of tn
Calexico National as national insti
tuition. j. M. Edmunds, who had
cuccessful career in mercantile busi
ness at various points, attracted b.
the possibilities of the Imperial Valley
then in it swaddling clothes, cam
here and located and shrewdly fore
saw the need for another bank, an
in 1910 applied for and received
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