CONSOLIDATED NATIONAL BANK

Receipt from Consolidated National Bank. Photo courtesy: Bob Reding

CONSOLIDATED NATIONAL BANK. The announcement that three major financial institutions in Dubuque would merge was made on November 29, 1922. The banks involved were the DUBUQUE NATIONAL BANK, SECOND NATIONAL BANK, and the DUBUQUE SAVINGS BANK. The new bank was to begin business on January 2, 1923. (1) Dubuque National's final steps in joining the other two were announced in December, 1922. (2)

Combined under a charter as a national bank, the Consolidated National Bank was to have a capital of $500,000; a surplus of $100,000; and deposits in excess of $4,000,000. Judson Keith DEMING was the president. The board of directors included James Merrill BURCH; John J. ROSHEK; Nicholas J. SCHRUP, Sr.; Christopher H. BERG; Wallace BROWN; John Herbert MACLAY; George W. Myers, of MYERS-COX COMPANY; John W. Schwind, DUBUQUE REALTY COMPANY; George McLean, president of the Key City Gas Company; D. J. Lenehan, attorney; George W. Kiesel, attorney; Herman Eschen, cashier Second National Bank; and Joseph W. Meyer, cashier Dubuque National Bank. (3)

The bank moved into the building occupied by Second National Bank on the southeast corner of Sixth and Main. The merger had been considered for nearly a decade. (4)

Bank note

Calendar and money bag. Photo courtesy: Bob Reding

Photo courtesy: Bob Reding

Photo courtesy: Bob Reding

See: BANKS AND BANKING

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Source:

1. "Deming Will be President; Big Assets Pooled," Telegraph Herald, November 29, 1922, p. 1

2. "Bank Merger Will Be Effected Jan. 1," The Telegraph-Herald, December 31, 1922, p. 15

3. Ibid.

4. Ibid.