Early Banking Interests

“To George C. Anderson belongs the credit of opening the first banking-house in Keokuk. In 1846, he opened a broker’s office in connection with his business, as wholesale grocer, on the corner of Second and Johnson streets. Subsequently, he established the well-known banking-house of George C. Anderson & Co., which he conducted until his death in 1867.”

“In 1852, Charles Parsons opened a bank on Main street, two doors east of Second. The building, a one-story brick-and-stone structure, still stands, occupied as a cigar store. Parsons afterward moved to the southeast corner of Second and Main streets, where he went under in the crash of 1857.”

“Soon after Parsons, the banking-house of Granville B. Smith & Co. was opened, the members of the firm being Fitz Henry Warren, A. D. Green and E. H. Thomas, of Burlington. They were succeeded by A. L. Deming & Co. (J. H. Claypoole) in January, 1856. Afterward, the firm was Deming & Love.”

“In June, 1856, E. R. Ford, Charles T. Graham and D. W. Ford opened a banking-house. Others who engaged in the business in the flush times which culminated in the panic of 1857, were George Chapin and George C. Lee, from Albany or Auburn, N.Y.; Hatch & Thompson, from Kentucky; and Ficklin & Lucas.”

“On the 4th of February, 1858, the banking-house of Rix, Hale & Co. was opened, and continued until March 8, 1862, when Mr. Hale was elected Cashier of the State Bank, and the exchange and deposit branch of the business was discontinued.”

“George C. Anderson was succeeded by Alex, Barclay & Co., afterward Bower, Barclay, & Co. The financial interests of Keokuk are, at this time, represented by four banks, all of them are of the most substantial character and transacting a profitable business.”

–The History of Lee County, Iowa (1879) Western Historical Company