The Republican. [volume] (Oakland, Md.) 1877-current, 1950-12-14
First National Bank
Completing Fiftieth
Year AS An Institution
Was Chartered November Is,
1900-First Statement Issued
Twenty Days Later

On December 10, 1900, there was
The First National Bank of Oakland.
It's loans and discounts, L. S. Bonds
account, its capital stock and its de-
posits would be considered extremely
On the bottom of the statement were
these words, "This bank has been in
business twenty days"
Its consequent growth throughout
these past fifty years has been in
keeping with the high traditions of
banking and has conceded with the
growth of the community.
The thrift, enterprise, prosperity
and progressiveness of community
is in no better way illustrated than
in the condition Of its banks. In this
regard the First National Bank of
Oakland has occupied a position of
prominence for many years and en-
tiers upon its second half of the CEN
fury with the confidence of its pa
irons and the entire population of
Garrett and adjoining counties.
The banks original charter came
from the office of Charles G. Dawes,
comptroller of the currency, Wash
ington, on November Is, 1900, which
declared to the world and Garrett
county residents in particular that
whereas satisfactory evidence has
been presented to the undersigned, it
has been made to appear that the
First National Bank of Oakland has
complied with provisions of the sta
tutes of the United States" . "and
is authorized to commence the bust
ness of banking"
The institution began in this man
ner with U. G. Palmer as cashier 1t
showed assets of SAB ,266.7O, with de-
posts of $21 ,O57.51, and capital stock
of $2O,6S5.
The first board of directors included
f. A. Browning, c. f. Ellithorp, L. E.
Friend, William Moody, U. G. Palmer,
X. A. Ravenscroft, f. f. Sollars, U.
NJ Stanton, F. A. Thayer and NJ. N.
Wilson. F. A. Thayer was its first
president. NJ. R. Hamill was the as
sistant cashier The bank during 1850,
as of June 80, showed resources of
$4,052,948.l6, with deposits of 49,
759,027.31. Their capital stock is $780,
600 with surplus of S125,000 and in
dividual profits of $56,420.S5 This
year the bank will mail out its Saith
dividend check to its stockholders
The bank began business in the
Matthews building on Alder street,
where the c. and A. Gas company
now is located. The bank building, a
three story structure, corner of
Second and Alder streets, was erected
in 1903. The bank area was re-
modelled in 1925 and a few years
later was enlarged to include the
room until then occupied by the post
office. More remodeling was COM
pleted in 1919.
There have been only five cashiers,
Mr.. Palmer, X. E. Sliger, Walter w.
Dawson, Delbert NJ Davis and w.
Cecil Smith. Bank presidents besides
Mr.. Thayer have been d. NJ. Dixon,
f. H. Sincell and the present presi-
dent, A. d. Naylor. Mr.. Thayer, be-
sides being first president, also took
over the duties in 1921, following the
deaths of d. NJ. Dixon and E. II.
Sinccll.
Others identified with this insti-
tuition as board members through the
years, have been A. G.. Sturgiss,
Owen Treacy, William A. Smith, N.
U. Bond, f. r. Jones, w. II. Smouse,
l.. X. Dixon, James p. Treacy, r. E.
McIntire,' Alva Gortner, Ralph E.
Pritts, George x. Littman.
The present board includes A. d.
Naylor, president; f. r. Jones, vice
president; r. E. McIntire, Alva G.
Gortner, Cecil Smith, Ralph f. Pritts,
George K. Littman, with the latter as
assistant cashier under Cecil Smith
Other present employees are James
c. Lemmert, Mrs. Eleanor Frantz,
Mrs. Dorothy Cathell, Miss Rose
Marie Rice, Kenneth Lawton and Leo
Treacy.