The Carbondale National Bank is an outgrowth of a much humbler and more
unambitious financial institution, which was known as the Jackson State
Bank, and was founded in October, 1898. Its officers were: S. W. Dunaway,
president; W. W. Clemens, vice president, and F. T. Joyner, cashier. The
capital stock was twenty-five thousand dollars, and on this basis the bank
did a good business of considerable magnitude and with excellent service and
steady benefits to the city of Carbondale and county of Jackson.
But in time the demands outgrew its resources, and in February, 1905, it was
reorganized as The Carbondale National Bank, with a capital stock of sixty
thousand dollars and a surplus of twelve thousand dollars. The present
officers are: James Etherton, president; F. M. Hewitt, vice president, and
Chas A. Gullett, cashier. The wisdom of the reorganization and enlargement
of the institution has been amply shown in the increased advantages it has
provided for the city and its people, and the alacrity with which they have
made use of them. The deposits at this time (1911) amount to two hundred and
sixty-five thousand dollars, and the business of the bank is very extensive,
active and comprehensive.
The institution conducts a general banking business, embracing every
approved feature of modern banking, and meets all requirements with
promptness and in the most satisfactory manner. It has a savings department
and pays four per cent interest on time deposits. The business is conducted
on the first floor of a fine three-story brick building, twenty-six by one
hundred feet in dimensions, which it owns. The second and third floors are
devoted to office and lodge purposes, and are much in demand for the uses
for which they were designed, as they are, like the portion of the edifice
used by the bank, modern in every respect, and provided with every
convenience and desirable feature in equipment.
A brief sketch of the life of James M. Etherton, the president of the bank,
will be found preceding this article. He is accounted one of the best
business men in the county, and his services to the bank have been striking
in their magnitude and value. He has aided greatly in popularizing the bank,
increasing the volume of its business and augmenting its strength and
reputation in banking circles locally and throughout the state. In his
management of its affairs he combines a serviceable progressiveness with a
prudent conservatism, making the institution as liberal in its policy and
dealings as due care for absolute safety will allow, but never risking
anything beyond this limit, however great the temptation or bright the
promise, although eager at all times to secure for it all the patronage and
profit he can. He conducts the bank as he does his private interests, and
with as much care for its stockholders and depositors as he exercises for
himself in the management of his own business.
Extracted from 1912 A History of Southern Illinois, by George W. Smith, volume 2, page 761.