In May,
1888, the organizers of The First
National met to capitalize the bank
and to begin the process of applying
for a federal bank charter. On July
9th, 1888, Federal Charter No. 3906
was granted, and The First National
has operated under the same charter
since then. The bank was capitalized
with $50,000.
Fifty years
later, on December 31, 1938,
deposits were $833,882 and loans
were $131,118. By December 31, 1963,
deposits had grown to $7,044,716 and
loans had grown to $1,055,983. On
September 30, 1988, the bank's
deposits were $65,125,889 and loans
were $36,760,647. In 1888, the
population of the United States then
was 60,496,000 versus 1988
population of 248,900,000. The First
National Bank changed its name in
November 1998 to National Bank &
Trust.
In 1888, a
three-bedroom home could be
purchased for $2,200. One dozen eggs
cost 20 cents, a loaf of bread was 5
cents, and one gallon of milk was
only 26 cents.
The
Washington Monument was completed in
1888 and self-propelled combine
harvesters were introduced.
Burroughs patented the adding
machine, and Kodak camera was first
marketed by George Eastman. Composer
Irvin Berlin, actor Maurice
Chevalier, and coach Knute Rockne
were all born in 1888. The 1888
fashion scene saw high choker
collars for men and lots of lace for
the ladies.
National Bank & Trust, located at 145 West
Colorado Street in La Grange, has been a major
factor in the development and expansion of the
business and agricultural communities of this area
since 1888. 
