The First National Bank of Bogalusa, Louisiana

The First National Bank of Bogalusa, Louisiana

The First National Bank of Bogalusa, Louisiana was opened in late 1907.  It was the only national bank in Washington Parish.  The First National Bank of Bogalusa liquidated in April of 1909.  During its short existence the bank only issued 940 national bank notes.  None of those notes have been seen to date.  With such a small printing it is very possible that all of the notes the bank printed were redeemed and destroyed.  However, much rarer banks have seen notes survive, so there is hope for Bogalusa as well.  Its charter number is 8959.

Of all the unreported banks in Louisiana, and there are several, The First National Bank of Bogalusa is unquestionable the most desirable and most interesting of the third charter banks.  The town itself wasn’t built until 1906.  Bogalusa didn’t incorporate as a city until 1914 which was a full five years after The First National Bank closed.  The First National Bank was unquestionably a company bank.  The bank was likely little more than an offsite office for The Great Southern Lumber Company.  The Great Southern Lumber Company founded Bogalusa, and the bank was provided as a courtesy to the company’s employees.  Odds are the bank closed so quickly because there was no other business in Bogalusa besides lumber.

The first president of the bank was GC Ligon.  This is likely George Clinton Ligon.  The first cashier was Christian Louis Olivier.  The bank only made one OCC report, and both GC Ligon and CL Olivier were listed as president and cashier in 1908.  Both of these men likely had little to no experience in banking.  Census reports suggest that they were both bookkeepers and lumber company employees.

If you have any currency from The First National Bank of Bogalusa, please tell us about it.  We are certainly interested parties, and you will likely be very pleased with our appraisal.

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