  For
years traders hung saddlebags filled with gold on the tree's branches
at Sherman's "pecan tree bank". The Merchants and Planters Bank, sometimes referred to as the "Ma and Pa bank," is one
of the oldest banks in North Texas. It was organized on September 28, 1872 as a State Bank with $150,00
capital when the city of Sherman was twenty-six years old. The bank
served ranchers, farmers and traders in Sherman, North Texas Area and Indian Territory. The first president was C. C. Binkley, vice-president, R.A. Chapman, teller, C.B. Dorchester, and cashier, Tom Randolph. First Directors were J. P. Dumas, Silas Hare Sr., J. M. Lindsay, J. H. Slater, G. Van Winkle, C. A. Andrews. C.C. Binkley was also the Director of Denison's Drovers & Planters bank at this time; stockholder Judge James Porter was President of Denison's Drovers & Planters bank. In 1872 it was a pioneer in banking, being the first incorporated bank in this section and serving a goodly portion of this part of Texas and much of what was then the Indian Territory. Sherman-Denison City Directory In
1884 the Merchants and Planters National Bank succeeded the old State
Bank, with a paid up capital of $600,000.00, being the largest
capitalization of any bank in Texas. The officers in 1884 were:1876-1877  C.C. Binkley, President R.A. Chapman, Vice-President Tom Randolph, Cashier C.B. Dorchester, Assistant Cashier
In
1904 the first charter under the National Banking law having expired
was extended for 20 years, with the following staff of officers: Tom Randolph, President T.D. Joiner, Vice-President T.U. Cole, Vice-President R.A. Chapman, Vice President C.B. Dorchester, Cashier F.A. Batsell, Assistant Cashier The original building was demolished in 1912 and the present building was completed on the same site in the same year. The building has undergone several remodeling and expansion phases through the years. In 1979, a drive-in facility was added on the north side of the building on the property that was once the site of the famous Binkley Hotel. In 1917 its resources were over $4,000,000.00, with the following officers and directors, together with their time of service: OFFICERS T.D. Joinder, Chairman of the Board Tom Rudolph, President W.C. Eubank, Vice-President T.U. Cole, Active Vice-President C.B. Dorchester, Cashier P.R. Markham, Assistant Cashier DIRECTORS Tom Randolph, 45 years W.C. Eubank, 34 years T.U. Cole, 17 years R.A. Chapman, Jr., 4 years H.W. Head, 3 years C.B. Bryant, 3 years C.B. Dorchester, 42 years T.D. Joiner, 25 years F.C. Dillard, 17 years Source: The Sherman Courier, Wednesday, August 15, 1917, pg. 24 (Fiftieth Anniversary Edition)  Sherman History Susan Hawkins © 2024 If you find any of Grayson CountyTXGenWeb links inoperable, please send me a message. |
