Many buildings in Priest River run deep with rich history and great stories. The Historic Citizens State Bank of Priest River is no different.
The Bank was established in February 1910 by several local businessmen. The original articles of incorporation listed Charles I. Mears, V. M. Smith, J.P. Hagman, G.C. Sutton, C.E. Hadly, John Gowanlock and Charles W. Beardmore of Priest River along with C.P. Moeser of Newport as incorporators. The Bank opened around March 1, 1910.
Although the bank opened in March of 1910, according to official records (Marylyn Cork) the building was not completed until later that year. In fact, when the articles of incorporation were filed, the location of the bank was not known.
These are some of the oldest known photos of the bank. These pictures were taken prior to the building of the Beardmore Block in 1922.
The bank was started with capital stock of $10,000 financed by businessmen from Newport, Washington. Most of them had interest in the First National Bank in Newport. Mr. Lee Berry, a Newport Businessman, was the first cashier. Mr. Berry, who moved his family to Priest River, later had several run-ins with some of the Priest River’s outspoken locals. Prior to the bank opening, people that wanted to bank had to travel to Newport or Sandpoint. The bank’s first known President in May of 1910 was P.A. Smith.
The building itself was constructed with no indoor plumbing. Amazingly, it remained that way until the Art Bank went in. They eventually took the safe out and put in a bathroom. No one knows where the safe went.
The people surrounding the early Bank operations were a vocal group of residents. Several early articles in the local newspaper describe some very intense rivalries. From a 1919 editorial about a dispute between the bank cashier Lee Berry, local resident Larry Rapp (or Ropp) and the editor of the local paper.
The bank continued to operate throughout the late teens and twenties. There were stories of the bank brightening up downtown. In 1933, the bank was turned over to the State commissioner of finance. Posters were placed on the front door of the bank notifying residents. The action was allegedly taken by the Board of Directors of the Bank to protect the interests of the depositors and all concerned. Frozen reserves and depreciated values were given as the reasons for the closer.
J.E. Rickert, the last banker at Citizens State Bank, received notice that all claims against the bank had to be presented by December 15, 1933.
The City was without another Bank until 1947. It is believed that the new bank was the Bank of North Idaho. It later failed in 1955.
Some things have changed about the banks location.
But, the building has been restored and preserved like it was in 1910.
Other stories of the Bank include rumors of at least 2 bank robberies. It is unknown who the robbers were or if they were caught. But, from the descriptions given at the time, this may be what he looked like.