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FERNDALE BANK. - The history of this reliable and conservative banking institution dates back to March of 1893,
when it was organized with a capital of $25,000 and the following officers: Adam Putnam, president; William N.
Russ, vice president; and J. H. Trost, cashier. Later E. P. Nisson became the vice president and in July of 1905
F. N. Rasmussen was elected to the office of cashier. The officers of 1914 are as follows: Adam Putnam, president;
E. P. Nisson, vice president; and F. N. Rasmussen, cashier. The three officers together with the following other
stockholders serve as directors of the concern: J. H. Ring, F. G. Williams, J. A. Shaw, P. J. Peterson, W. N. Russ
and P. Calanchini. The growth of the bank has been healthy, dividends have been paid with unfailing regularity,
and now the capital and surplus aggregate more than $100,000. After nineteen years of occupancy of quarters not
especially designed for modern banking purposes, in July of 1912 the institution moved its headquarters into the
attractive and substantial new building of reenforced concrete with white tile trimmings, with interior equipment
of the most approved and modern type, now occupied by the bank and used exclusively for banking purposes. For twenty
years the institution was strictly commercial, but in January, 1913, a savings department was added and this has
since become a very important accessory of the main institution.
From:
History of Humboldt County, California
With a Biographical Sketches
History by Leigh H. Irving
Historic Record Company
Los Angeles, California 1915
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