The Bank of Lester was opened for business in August, 1890, the same being owned by Parker, Richards & Co., consisting of J.F. Parker, B.L. Richards and F.B. Parker with a capital of $3,000, contributed equally by the three partners.

F.B. Parker was cashier and was in charge of the business until the following year when Tewksbury and Pingrey purchased the business continuing the saa private bank until December, 1895.

The firm of Tewksbury & Pingrey consisted of F.S. Tewksbury and W.H. Pingrey, the latter acting as cashier.

In December, 1895, they made deed of assignment to M.A. Cox, assignee.  Liabilities about $80,000, resources $89,000.  The affairs of the bank were wound up in September, 1898, and assignee discharged, every dollar of liabilities and interest thereon being paid. 

Prior to the settlement the bank Building, furniture and fixtures were sold to F.D. and J.L. Mitchell who in February, 1897, commenced doing a private banking business under the title of Citizens Bank of Lester.

F.D. Mitchell, president, J.L. Mitchell, cashier.  Responsibility $50,000.

Opened February 1, 1897, and continued in business until February 1, 1901, at which time it was converted into the Citizens Savings Bank, Lester, Iowa, with a paid up capital of $12,000 and with the following officers:  J.W. Ramsey, president, L. Sutter, vice president, J.L. Mitchell, cashier.

Directors:  F.D. Mitchell, J.W. Ransey, E.C. Roach, L. Sutter and F.L. Sutter.

At present the officers are the same with the exception that A.W. Dula is assistand cashier, and the directors are:  J.W. Ramsey, E.C. Roach, L. Sutter, F.L. Sutter and J.L. Mitchell.

By reference to January, 1904, bank directory, this bank reports as follows:  Deposits, $60,000, loans, $55,000, cash reserve, $15,000.


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