Indiana National Bank Records, 1833–1998
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Collection # M 0724 OMB 0075 BV 5001–5011 F 1818–1875 INDIANA NATIONAL BANK RECORDS, 1833–1998 Collection Information Historical Sketch Scope and Content Note Series Contents Processed by Annie Kruse December, 2014 Manuscript and Visual Collections Department William Henry Smith Memorial Library Indiana Historical Society 450 West Ohio Street Indianapolis, IN 46202-3269 www.indianahistory.org COLLECTION INFORMATION VOLUME OF 160 manuscript boxes, 2 color photo boxes, 15 photo boxes, 49 COLLECTION: oversized boxes, 11 Bound Volumes, 1 slide box. 1 35mm negative box, 1 3x5 negative box, 1 4x5 negative box, 1 5x7 negative box, 1 8x10 negative box, 57 microfilm boxes, 3 boxes VHS and audio tapes, 3 Artifacts Boxes COLLECTION 1833-1998 DATES: PROVENANCE: NBD Bank, Indianapolis, November, 1998 RESTRICTIONS: None COPYRIGHT: REPRODUCTION Permission to reproduce or publish material in this collection RIGHTS: must be obtained from the Indiana Historical Society. ALTERNATE FORMATS: RELATED HOLDINGS: ACCESSION 1999.0039 NUMBER: NOTES: HISTORICAL SKETCH INB National Bank traced its history to 1834 when the Indiana General Assembly granted a twenty-five year charter for the Second State Bank of Indiana. Twelve Branches were located around the state, including Indianapolis, to provide currency and short-term commercial and agricultural loans. The charter for the Second State Bank expired in1857 and many of the same investors sought a charter for the third state bank, The Bank of the State of Indiana, which also had a branch in Indianapolis. In 1865, the investors of the Indianapolis branch secured a national charter under the National Bank Act of 1865; the new bank was The Indiana National Bank of Indianapolis. The Indiana National Bank of Indianapolis, located at Washington and Meridian streets, primarily served small businesses and individuals in its first two decades of operation. The Tousey family owned most of the stock. George Tousey directed the bank while his brother Oliver concluded the affairs of the Bank of the State of Indiana. Oliver succeeded George as president, a position he relinquished to William Coughlen in 1876. In 1882, Volney T. Malott purchased Indiana National and became its president (1882-1912). Within two years, he moved the bank to 1 East Washington Street and expanded in customer base. In 1895, a massive fire destroyed the building. In 1897, Indiana National opened its door in an elegant Neo-classical building at 3 Virginia Avenue. By 1912, it acquired Capital National Bank; at this time Malott became chairman of the board (1912-1921) and Frank D. Stalnaker (1912-1932) became president, a position that he held until death. Arthur V. Brown, a member of the Malott family, (1932-1942) then became president. During the Depression, Indiana National continued its conservative management and not only survived but grew by acquiring Continental National Bank in 1933 and attracting the customers of fail banks. During World War II and the post-war era, Indiana National took advantage of the national economic growth. William G. Irwin (1942-1943), Russell L. White (1944-1952), William P. Flynn (1952-1957), Wilson Mothershead (1957-1963), and J. Kurt Mahrdt (1963-1968) presided over the bank as the Indianapolis urban area experienced rapid growth. Indiana National reached out to potential customers by establishing branches, the first at Maple Road in 1947. The Bank also augmented its financial and customer base through acquisitions of other banks in the community, including Madison Avenue State Bank in 1948, Union Trust in 1950, and New Augusta State Bank in 1958. By 1968, INB was the first "Billion Dollar Bank" in town. As evidence of its position in the community, Indiana National moved into its new thirty- seven-floor tower in 1970 at One Indiana Square. The new tower symbolized the soaring presence of Indiana National in Indianapolis and development of a corporate identity. In 1969, Indiana National Corporation, a one-bank holding company, was formed which allowed the corporation to engage in nonbanking activities. By the mid-1970's, Indiana National found itself over-extended in these endeavors. The Board of Directors chose Thomas W. Binford to restore the bank to a narrower, prosperous operation. Thomas M. Miller became president (1976-1979). Once the turnaround of the bank was achieved, Andrew J. Paine, Jr. became president of the bank and Miller chairman of the corporation. The economic conditions of the 1980's contributed to a nationwide restructuring of banking. In 1986, INB began an aggressive program of acquisitions throughout Indiana as a result of legislative changes at the state level. Indiana National Corporation became INB Financial Corporation in 1989. In 1992, National Bank of Detroit Bancorp, N.A. of Detroit, a regional bank holding company, purchased INB and changed the name of NBD Indiana, Incorporated in October, 1993. For an in-depth study, see : Weintraut, Linda and Nolan, Jane. Pioneers In Banking: A History of Indiana National Bank. NBD, Indiana, 1994 SCOPE AND CONTENT NOTE General Information: INB archives contain material that provide a permanent record of the bank and corporation activities. Records were retained for their administrative value as well as their historical significance. The INB archives were organized by Weintraut & Nolan when INB Financial Corporation merged with NBD Bancorp, N.A. Noraleen A. Young was the project archivist. In 1995, materials assumed lost were found and the "Guide" was revised as well as new items were added. Three factors shape and limit the archives. A fire in 1895 destroyed most official records of the bank. Officers of the bank recreated some of the documentation. Photocopies of items in other repositories have been included when available. Further, each department sets its own retention policy based on governmental standards, corporate policy, and departmental needs. As a result, some records with historic value are routinely purged and others transferred to the Records Center. Finally, an archival project was begun but not completed in 1982; it identified materials that could not be located in 1994. Series 1: Corporate Records contain items related to the corporate identity. These include legal documents, such as the Articles of Association and certified copies of the Bank Charter, Annual Reports and minutes of board meetings and annual meetings. Series 2: Financial Records include Statements of Condition, financial statements, financial documents, bond records, ledger books, daily statement books and stock records. Series 3: Officers and Directors Records contain minutes of the Board of Directors and executive committees as well correspondence documentation of officers and directors. Series 4: Department and Employee Records contain banking materials and records generated by specific departments. Banking materials range from employee handbooks to suggestion programs and checkbook covers to saving account receipts. Series 5: News clippings contain articles and mentions of INB and its entities in various publications. Series 6: Building and Branch Records contain materials relating to the main bank building and the branches. Series 7: Historical Bank Documents contain documents pertaining to the bank history and anniversaries. Series 8: Subsidiaries and Merged Companies contain information regarding acquired banks and merged banks though out the bank history. Included are Annual reports, Minutes, Board of Directors documents for Union Trust, INB Properties Inc, Fidelity Bank of Indiana, Indiana Safe Deposit Co. and others. Series 9: Color Photographs contain pictures of INB events, employees, bank branches, and departments Series 10: Black and White Photographs contain pictures of officers and directors, employees, bank branches, department pictures, and social events. Series 11: Slides contain Annual Report Transparencies and officer images. Series 12: 35mm Polyester Negatives contain images of bank events, employees and documents Series 13: 120mm Polyester Negatives contain images of bank branches, offices and miscellaneous images Series 14: Negatives of varying sizes contain 4x5, 5x7, and 8x10 negatives. Images include records, community events, and building views. Series 15: Audio/Visual contain promotional materials including VHS Tapes, U-Matic Videos, and recordings. Series 16: Microfilm contain materials relating to corporate and financial records. These include Annual Minutes, Annual Reports, Special Meetings, etc. Series 17: Artifacts Contain plaques, trophies and bank memorabilia SERIES CONTENTS Series 1: Corporate Records CONTENTS CONTAINER Reports to shareholders, 1945-1949 Box 1, Folder 1 Reports to shareholders, 1950-1951, 1954-1959 Box 1, Folder 2 Annual Report, 1865 Box 1, Folder 3 Annual Reports, 1958-1959 Box 1, Folder 4 Annual Reports, 1960-1964 Box 1, Folder 5 Annual Reports, 1965-1968 Box 1, Folder 6 Articles of Association and by laws, 1865-1968 Box 1, Folder 7 Bank Charter, 6 Apr. 1865 Box 1, Folder 8 Organization certificate of INB of Indianapolis and Box 1, Folder 9 Extensions of corporate existence, 1885, 1905, 1922 Certificates of capital changes and mergers, 1965-1972 Box 1, Folder 10 License to resume business following 1933 bank Box 1, Folder 11 moratorium Certificate of change of location of main office, 1970 Box 1, Folder 12 Certificate authorizing trust powers, 1921, 1950, 1969 Box 1, Folder 13 Certificate authorizing branch operations, 1958, 1969 Box 1, Folder 14 Analytical study of Indiana National Band of Box 1, Folder