Central National Bank
This image is of the College Avenue facing (taken from the east side of the street camera facing the west) side of the Historic Central National Bank building in Alva, OK., Saturday, May 6, 2017. Currently this building houses the Sutter Law Office.
BancCentral National Association is located in Oklahoma
BancCentral National Association
BancCentral National Association is located in the United States
BancCentral National Association
Location401 College Ave., Alva, Oklahoma
Coordinates36°48′17″N 98°39′1″W / 36.80472°N 98.65028°W / 36.80472; -98.65028
Built1901
Architectural stylePlains Commercial
MPSTerritorial Buildings in Downtown Alva TR
NRHP reference No.84000705[1]
Added to NRHPJanuary 5, 1984

BancCentral National Association (formerly Central National Bank)[2] is a commercial bank based in Alva, Oklahoma. It was built in 1901 and was listed on the National Register of Historic Places in 1984.[1] It had been owned and operated by the Myers family since 1919.

History

The Alva National Bank was established in 1899. Officers of Alva National Bank in 1907 were George A. Harbaugh president, and J.H. Schaefer, vice president. During the years between 1907 and 1913, the Alva Security Bank purchased Alva National Bank with Harbaugh as bank president.

In August 1913, G.A. Harbaugh, E. Anderson, T.F. Fennessey and H.E. Noble, owners of Alva Security, organized a new banking institution under the name Central State Bank. The newly named bank continued to operate at the location of the former Alva Security Bank. Central State Bank was considered a "state bank," the deposits were insured by the Depositors Guaranty of the State of Oklahoma. On October 31, 1917, Central State Bank absorbed the Woods County Union Bank. Harbaugh and George Meade had controlling stocks of the Union Bank at that time.

In 1919, W.D. Myers purchased a large interest in the bank, becoming the President, a role he held until his death in 1951.[3] In 1951, Gertrude Myers became chairman of the board and CEO of the bank, and her brother, W.D. Myers, Jr., became President. W.D. served as President until his death in 1987. William R. Buckles was elected President of the bank, and was named CEO following Gertrude's death. At the time of Gertrude's death, L.W. became Chairman of the Board and served until his death.

The Woodward County branches of NationsBank were acquired by CNB on March 13, 1998. That bank had gone through a series of purchases and mergers beginning with the sale of the Bank of Woodward to Bank IV in Wichita, Kansas on May 28, 1993. Kyle D. Hughbanks was named President and CEO.

In 2009, the bank caused controversy by demolishing a parking garage that reportedly contained hundreds of bats, mostly Mexican free tail bats.[4]

In March 2012, the bank changed its name to BancCentral National Association (BancCentral, N.A).[2]

In March 2021, Office of the Comptroller of the Currency (OCC) placed a Consent Order on the bank for "engaging in unsafe or unsound practices". The OCC's charges specifically listed detailed charges involving management, board supervision, capital planning, and risk ratings. Additional charges involved loan reviews, allowance for loan and lease losses, and credit administration. The Consent order formally initiated cease and desist proceedings against the facility.[5]

On December 9, 2021, the board of directors signed the consent order, agreeing to implement a litany of OCC mandated changes to the bank's operations.[6]

References

  1. 1 2 "National Register Information System". National Register of Historic Places. National Park Service. March 13, 2009. https://npgallery.nps.gov/NRHP/GetAsset/NRHP/84000705_text
  2. 1 2 "CLOSED, MERGED, RENAMED AND RELOCATED BANKS OF OKLAHOMA" (PDF). Oklahoma Government. April 27, 2015. p. 5. Archived from the original (PDF) on August 8, 2012. Retrieved June 29, 2015.
  3. ↑ "Northwestern to dedicate Myers Stadium on April 17 | Northwestern Oklahoma State University". Nwosu.edu. April 8, 2010. Archived from the original on March 4, 2016. Retrieved June 29, 2015.
  4. ↑ "Alva Goes Batty Over Parking Garage Demolition - News9.com - Oklahoma City, OK - News, Weather, Video and Sports |". News9.com. Retrieved June 29, 2015.
  5. ↑ Ashley Berends (March 18, 2022). "Board chair says BancCentral addressing issues in cease and desist order". Woodward News. Archived from the original on April 23, 2022. Retrieved April 23, 2022.
  6. ↑ "Consent Order AA-SO-2021-40" (PDF). Office of the Comptroller of the Currency. November 9, 2021. Archived from the original (PDF) on April 23, 2022. Retrieved April 22, 2022.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.