The Oakland Bank
Alameda County, CA Biographies





THE OAKLAND BANK
The Oakland Bank is the oldest bank in Alameda county and one of the oldest in the state. It was organized August 13, 1867, as The Oakland Bank of Savings, with a capital stock of one hundred and fifty thousand dollars. This was increased to three hundred thousand dollars in 1869 and to one million dollars in 1871.

In 1905 the stockholders organized the Bankers Trust Company with a capital of three hundred thousand dollars, and in 1910 this institution was merged with the parent bank, which established a trust department to care for this business. At that time the capital was increased to one million, one hundred and fifty thousand dollars. In 1915 The Oakland Bank of Savings absorbed the Berkeley National Bank and the University Savings Bank, which they continued as a Berkeley branch and again increased the capital to one million, two hundred and fifty thousand dollars. The rapid growth of deposits made it necessary to increase the capital stock to one million five hundred thousand dollars in 1920 and in December, 1927, five thousand additional shares of stock were issued, making the paid up capital two million dollars. In 1915 they also established a branch in West Oakland, and in 1917 another in East Oakland through the absorption of the Twenty Third Avenue Bank.

Having decided upon a policy of confining their operations exclusively to Oakland, they sold their Berkeley interests in 1922, and now maintain eleven branches, all located at strategic points in this city. Of these branches The Oakland Bank owns the sites of seven, on which they have erected their own buildings.

During the early part of its career The Oakland Bank of Savings was primarily a savings bank, but with the growth of Oakland as a commercial city and the consequent development of the bank's commercial business this name became misleading and in 1923 it was deemed advisable to change the name to The Oakland Bank.

This bank began business in a small brick building at Ninth and Broadway, but ten years later, in 1877, removed to its present location at Twelfth and Broadway. Since then the rapid increase of its business has several times necessitated the enlargement of its quarters, finally resulting in its present magnificent structure, a modern seventeen story bank and office building, covering a lot one hundred by one hundred and fifty feet. It occupies the entire ground floor as well as the second and third floors.

The bank's deposits show a steady and consistent increase from year to year since its organization. They passed the million dollar mark in 1875, two million dollars in 1887, five million dollars in 1892, ten million dollars in 1904, twenty million dollars in 1912 and thirty million dollars in 1917. During the past decade they have more than doubled, being now over sixty million dollars. In addition to having paid regular dividends of twelve per cent on its capital stock, this bank has built up a reserve fund of nearly double its capital, the last statement showing capital of two million dollars, surplus of three million one hundred thousand dollars and undivided profits amounting to eight hundred and ten thousand dollars. The total assets are sixty seven million, nine hundred and twenty thousand seven hundred and seventy two dollars.

All of the directors and chief officers of The Oakland Bank have been identified with the institution for many years. W. W. Garthwaite has been with the bank almost since its organization and has been president and general manager for the past twenty-five years. All of the vice presidents have served the bank in various capacities for a quarter of a century or more. The present officers and directors are: W. W. Garthwaite, president; J. Y. Eccieston, A. Borland, A. W. Moore, J. A. Thomson and A. E. Caldwell, vice presidents; J. W. Garthwaite, vice president and trust officer; and H. J. Harding, vice president and credit manager. The directors are A. Borland, Arthur H. Breed, H. C. Capwell, W. B. Dunning, J. Y. Eccieston, W. W. Garthwaite, James K. Moffitt, A. W. Moore, A. G. Tasheira and P. J. Walker.

From:
History of Alameda County, California
BY: Frank Clinton Merritt
The S. J. Clarke Publishing Co.
Chicago, Ill 1928


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