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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.
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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.
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