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Coordinates: 36°48′17″N 98°39′1″W / 36.80472°N 98.65028°W / 36.80472; -98.65028
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{{Use mdy dates|date=August 2023}}
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{{Unfocused|reason=The article should cover the building, but currently focuses on a business that has not been in the building for most of the dates covered by the information present.|date=April 2017}}
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{{Infobox NRHP
{{Infobox_nrhp | name =Central National Bank
| name = Central National Bank
| nrhp_type =
| image =
| nrhp_type =
| image = Historic Central National Bank.jpg
| caption =
| caption = 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.
| location= 401 College Ave., [[Alva, Oklahoma]]
| location = 401 College Ave., [[Alva, Oklahoma]]
| lat_degrees = 36
| coordinates = {{coord|36|48|17|N|98|39|1|W|display=inline,title}}
| lat_minutes = 48
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| locmapin = Oklahoma#USA
| lat_seconds = 15
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| area =
| lat_direction = N
⚫
| built = 1901
| long_degrees = 98
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| architect =
| long_minutes = 40
⚫
| architecture = Plains Commercial
| long_seconds = 1
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| added = January 5, 1984
| long_direction = W
⚫
| mpsub = Territorial Buildings in Downtown Alva TR
⚫
| locmapin = Oklahoma
⚫
| refnum = 84000705<ref name="nris">{{NRISref|2009a}} {{NRHP url|id=84000705}}</ref>
⚫
| area =
⚫
| built =1901
⚫
| architect=
⚫
| architecture= Plains Commercial
⚫
| added = January 5, 1984
| governing_body = Private
⚫
| mpsub=Territorial Buildings in Downtown Alva TR
⚫
| refnum=84000705<ref name="nris">{{NRISref|2009a}}</ref>
}}
}}
'''Central National Bank''' in [[Alva, Oklahoma]] was built in 1901. It was listed on the [[National Register of Historic Places]] in 1984.<ref name=nris/>
'''BancCentral National Association''' (formerly '''Central National Bank''')<ref name="NameChange">{{cite web|url=http://www.ok.gov/banking/documents/Closed%20Merged%20Banks.pdf|title=CLOSED, MERGED, RENAMED AND RELOCATED BANKS OF OKLAHOMA|publisher=Oklahoma Government|page=5|date=2015-04-27|accessdate=2015-06-29|archive-url=https://web.archive.org/web/20120808220656/http://www.ok.gov/banking/documents/Closed%20Merged%20Banks.pdf|archive-date=2012-08-08|url-status=dead}}</ref> 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.<ref name=nris/> It had been owned and operated by the Myers family since 1919.


==History==
The opening of the Cherokee Strip in 1893 brought a boom of numerous businesses and banks. One of the institutions that survived from that time is The Central National Bank of Alva, in Alva, Oklahoma, owned and operated by the Myers family since 1919. Only after several mergers in the early years did the bank take the name it has today. The Alva National Bank was established in 1899. In June of 1907, Alva National had a capital stock of $40,000 and was fully equipped with the latest improved steel, fire and burglar proof safes and vaults. This equipment guaranteed depositors that their money would be absolutely safe, and deposits amounted to $200,000. 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 George Harbaugh as bank president.
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 of 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. With new management and capital of $25,000, Central State Bank maintained the high standards set by Alva Security in Oklahoma banking circles. Since Central State Bank was considered a "state bank," the deposits were insured by the Depositors Guaranty of the State of Oklahoma. This guarantee, in addition to the strong financial standing of the stockholders, made Central State Bank a successful institution, with deposits of about $200,000. The bank rapidly flourished, and 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 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.<ref name="nwosu1">{{cite web |url=http://www.nwosu.edu/northwestern-to-dedicate-myers-stadium-on-april-17 |title=Northwestern to dedicate Myers Stadium on April 17 &#124; Northwestern Oklahoma State University |publisher=Nwosu.edu |date=2010-04-08 |accessdate=2015-06-29 |archive-url=https://web.archive.org/web/20160304111108/http://www.nwosu.edu/northwestern-to-dedicate-myers-stadium-on-april-17 |archive-date=2016-03-04 |url-status=dead }}</ref> 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 situation remained much the same until January of 1919, when a young man by the name of W.D. Myers purchased a large interest in Central State Bank. By March 1922, Myers was president of Central State Bank and in July of 1923 the thriving institution was converted to a national bank. The Central National Bank of Alva (CNB) maintained steady growth in the early years and in 1926 saw the capital stock at $50,000 with surplus and profits amounting to $40,000. At the time, CNB was the largest bank in northwest Oklahoma and had resources of more than $1,300,000. The 1926 bank officers included Myers, president, and Edna Myers (W.D.'s wife), vice president. CNB continued to grow under Myers' direction and the acquisition of the Dacoma Bank took place April 9,1932.


⚫
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|Wichita]], Kansas on May 28, 1993. Kyle D. Hughbanks was named President and CEO.
W.D. Myers' wife, Edna Earle, served as one of the directors of the family owned bank until her death in 1959. The couple had five children, all of whom worked at the bank as young adults.


In 2009, the bank caused controversy by demolishing a parking garage that reportedly contained hundreds of bats, mostly [[Mexican free tail bats]].<ref>{{cite web|url=http://www.news9.com/story/12836144/alva-goes-batty-over-parking-garage-demolition |title=Alva Goes Batty Over Parking Garage Demolition - News9.com - Oklahoma City, OK - News, Weather, Video and Sports &#124; |publisher=News9.com |date= |accessdate=2015-06-29}}</ref>
Upon their father's death 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, and Gertrude made the prosperity of the bank her life-long career until her death on Feb. 4, 2000. W.D's wife, Lillie, served on the board of directors until she died in 1979. They had one daughter, Mary Margaret, currently a director of the bank.


In March 2012, the bank changed its name to BancCentral National Association (BancCentral, N.A).<ref name="NameChange"/>
L.W. Myers and his wife, Grace, had two sons and a daughter, Leo, Steve, and Marilyn. Grace Myers died on September 19, 1994, and L.W. served the bank in various capacities, including director, until his death on September 30, 2000. Leo and his wife, Colleen, have two children, Natalie and Phillip. Leo retired on December 31, 2002. Steve, his wife, Suzie, and their three children live in Arizona, and Steve serves on the board of directors. Marilyn serves on the board of directors as Chairman of the Board. She has two children, Grace and George.


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.<ref name=Cease>{{cite news| url=https://news.yahoo.com/board-chair-says-banccentral-addressing-035900238.html | title=Board chair says BancCentral addressing issues in cease and desist order | publisher = [[The Woodward News|Woodward News]] | date=2022-03-18 | archive-url=https://web.archive.org/web/20220423074240/https://news.yahoo.com/board-chair-says-banccentral-addressing-035900238.html | author=Ashley Berends | accessdate=2022-04-23 | archive-date=2022-04-23}}</ref>
Upon the death of W.D. Myers, Jr., 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.


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.<ref name=OCCOrder>{{cite web | url=https://www.occ.gov/enwiki/static/enforcement-actions/ea2021-051.pdf | publisher=[[Office of the Comptroller of the Currency]] | date=2021-11-09 | title=Consent Order AA-SO-2021-40 | archive-url=https://web.archive.org/web/20220423080113/https://www.occ.gov/enwiki/static/enforcement-actions/ea2021-051.pdf | archive-date=2022-04-23 | accessdate=2022-04-22}}</ref>
⚫
The Woodward 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. This purchase increased the total assets of CNB from $100 million to approximately $172 million.

After 38 years of service, William R. Buckles retired in 2007. Following Mr. Buckles's retirement, Kyle D. Hughbanks was named President and CEO; he also serves as a director.


==References==
==References==
{{reflist}}
{{reflist}}


==External links==
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{{National Register of Historic Places}}


{{NRHP in Woods County, Oklahoma}}
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[[Category:National Register of Historic Places in Oklahoma]]

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[[Category:Buildings and structures completed in 1901]]
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[[Category:Bank buildings on the National Register of Historic Places in Oklahoma]]
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[[Category:Commercial buildings completed in 1901]]
[[Category:Buildings and structures in Woods County, Oklahoma]]
[[Category:Buildings and structures in Woods County, Oklahoma]]
⚫
[[Category:National Register of Historic Places in Woods County, Oklahoma]]


{{Oklahoma-NRHP-stub}}

Latest revision as of 03:58, 13 September 2024

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

[edit]

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

[edit]
  1. ^ a b "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. ^ a b "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.
[edit]


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