Ed Peckham, who represented The Frisco Town Company, was listed as the vice president of the bank.

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It is interesting to note the importance of the railroad to the town and bank as evidenced by a blurb in the Enid Eagle on August 14, 1902. The newspaper reported that “The Bank of Drummond suspended payment Monday because cashier Roberts got left by an excursion train Sunday."

It was a source of amusement for newspaper readers.

The resources of the bank were reported as $14,472 in 1902.  With few available houses in Drummond, bank officials lived elsewhere. This would become a point of contention in later years. In 1903 the president of the bank changed hands with no specific account of the reason. Bank records indicate that D.M. Carey became president of the bank in May 1905. However, in October 1905 D.M. Carey, president, and J.A. Hill, vice president, were indicted by the grand jury on the charge of conspiring to steal $1,712,587 from the Denver Savings Bank. Hill was convicted of the crime but Carey was exonerated. On November 2, 1905 the controlling stock of the bank was purchased by Messrs French, Welsch, Butts, and Champlin of the American State Bank of Enid. A.B. Light served as president for a month until Nov. 30, 1905 when the new officers took over. In September 1906, the bank again changed hands. The Butler Brothers of the first national bank of Waukomis took control. In February 1908 the bank reorganized again, increased capital stock by $5000.00, and A.B. Light became president for a second time. At this point the resources of the bank were recorded as $58,131. By November 1908 officers of the bank had changed again. Taylor Stewart is listed as president and W. H. Stewart is listed as vice president.

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By 1908, wheat had been established as a lucrative crop.  Wheat production on the large 160 acre plots of land was plentiful enough to support the Blackwell Milling and Elevator, Enid Mill and Elevator, and Farmers Elevator as well as a threshing machinery company, Gleaner.  The Bank of Drummond handled the financial affairs of the citizens of the town as well as the businesses. Statement of Condition reports indicate that by December 1908, bank resources were listed at $69,602 compared to $14,472 in 1902.

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Early ads focused on a variety of issues from what services the bank could provide to important personal financial practices. Examples of advertisements included information on farm loans, money orders, paying taxes, insurance and notary work, managing prosperity from the wheat crop, managing money in a savings account, and several advertisements thanking the citizens for their liberal support.  The Bank of Drummond gave away calendars to patrons as early as 1903 and continued the practice of giving free gifts throughout their history.  The early motto of the bank was “Security, Safety and Service”.  

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By April 1908 the ads indicate that the bank is a hometown bank run by people whose interests are entirely in Drummond and the vicinity. This was a point of pride since previous officers did not reside or have interest in the town of Drummond.  “Since its organization, the bank has been held either by bank speckulators, plungers, or neighboring towns.”

By September 1908 the bank ads shifted slightly to inform the public of what the bank could do. “Accuracy in business transactions insures success.  With the assistance of this bank’s clerical force, you are given every means to keep your financial matters with exactness”(Drummond Messenger Oct. 15, 1908). By April 1909 ads are informing the public about advantages of a “Check Account” (Drummond Messenger, April 22, 1909).

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By 1915 the resources of the bank were reported at $109,662. The town was growing and businesses were increasing.  Early day businesses in Drummond included a train depot, two grocery stores, Lumber yard, barber shop, restaurant, newspaper, general merchandise store, photography business, hardware stores, three mills, two story hotel, jewelry store, doctor, church, school and later a Ford dealership.  The Bank of Drummond did some remodeling to make the bank more modern. In April 1915, the Messenger reported, “The Bank of Drummond has had its building papered and painted and is ready for their new fixtures which they are looking for about the 15^th of this month (April, 8, 1915).  

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Most of the bank advertisements in this period focused on building trust.  Advertisements included statements that deposits were guaranteed, citizens were invited to investigate the bank, security of check accounts and the bank’s commitment to meeting customer needs.  In 1916 many ads tied societal issues with bank issues.  On Sept. 28, 1916 the heading of the ad was “Swat the Fly Germ”.  This ad informed the public about how germs can be passed by handling coins and paper money.  This ad was encouraging citizens to “write a clean, sanitary check”.   While many kinds of sickness were the result of germs passing within a community, the ad was particularly important because influenza would become a major pandemic less than two years later.

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In November of 1918 the resources of the bank reached a high mark of $370,788 but did not reach those levels again until 1941.  

The Bank of Drummond made some additional improvements that year.  In January 1918 the Bank of Drummond increased its stock to $25,000 and planned some changes in the building.  “A new basement will be put in and a new furnace will be installed. A large vault will be built and a new Burroughs posting machine has been purchased” (The Enid Events, Jan. 10, 1918).

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In 1917 and 1918 bank ads reflected the U.S. entrance into WWI on April 6, 1917. Other ads emphasized the importance of banks to the community.  The war advertisements emphasized patriotism, Liberty Bonds, and preparedness.  

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Community advertisement included ads that thanked the community for patronage, ads that tied the bank and church to the community and an ad that discussed the role of the banker. “The banker is generally supposed to keep pretty well posted on the conditions in his community and all bankers make it a point to co-operate in the exchange of information.”

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The Bank of Drummond also began showing up as a sponsor for community events around 1917. There were campaigns to raise funds for the war.  Those efforts were spearheaded by The Bank of Drummond.  School events and academic achievement awards were given by the bank. Tickets for community events could be purchased at the bank. By the end of the 20’s the Bank of Drummond was financially solid and a permanent anchor for all community endeavors.

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In 1924 the resources of the bank were $221,235.  After a period of tremendous growth in the previous decade, the twenties were plagued by several unfortunate events.  In January 1921, the new Drummond School burned down.  

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In January of 1925 a blizzard was reported and by July 3, extreme heat was reported.  In June 1925 almost the entire East side of Main street burned.  

The West side (where the bank was located) was only saved from “catching on fire by being kept wet by men on the roofs.” None of the destroyed buildings were replaced.

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The grasshoppers were threatening Alfalfa Hay in 1925.  In 1926 there was a late snowstorm that threatened the crops.  In addition to the disasters that befell the town, news of bank failures were beginning to be reported as well as investigations of bankers: “Failed bank near Drummond.  Lahoma President of bank indicted for two years”; “Goltry Bankers under investigation”; “Failed Banks to Pay Dividends”.  Black Tuesday and the start of The Great Depression was only a few years away.  The bank resources went from $221,235 in 1924 to $213,965 by 1929.  Nevertheless, newspaper articles continued to capture the participation and leadership of the bank in the community.  The Bank of Drummond sponsored “Trade Days” for the community as well as broadcasting the WorldSeries in 1923 for the community.  

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The Bank of Drummond was at the forefront in the area for better crop rotation practices and soil conservation.   The Bank of Drummond gave away grass seed and then paid premiums for the first three places of the four varieties.  “Chas Watson, Drummond Banker and land owner, discussed the subject of soil conservation from the standpoint of the landlord.  It is his expressed idea that owners should co-operate to the fullest extent with tenants by every possible means to improve the productive power of the land.  This according to Mr. Watson, can be done by cropping to grasses, particularly sweet clover and by intelligent terracing”.

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The advertisements during this time emphasized farm loans and insurance needs, bank and community partnerships, and the definition of bank robbers.  There were thank you ads to the community and assurances that business was good.  The mottos “Safety, Strength and Service” and “A Safety-First Bank” were found at the bottom of most of the advertisements.  The constant assurance of the security of the bank would be needed as the town faced an upcoming decade of adversity.   By the mid 20’s the detailed advertisements and community information were no longer available because Drummond no longer had a newspaper. The hardships of the late 20’s took its toll on the citizens which in turn affected newspaper profitability. The last Drummond Newspaper was published in November 1926.

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The 1930’s started with a terrible fire that destroyed most of the west side of Drummond.  It was reported by The Enid Morning News that the fire did $125,000 worth of damage.  

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“Although the building occupied by the Bank of Drummond was near the fire and was considerably smoked, the bank opened for business and remained open throughout the day. Records, fixtures, and supplies which were carried from the bank to the street to escape damage were returned to the building in good condition.”

Many believed that the town would never recover from this loss.  But the citizens got together to rebuild and the Bank of Drummond led the effort.

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The only available Statement of Condition report for the decade in an area newspaper indicated that the resources for the Bank of Drummond were at $218,648.  

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The bank crisis of the nation affected the Bank of Drummond as well as every other bank.  It was reported that 1933 was the lowest part of the depression with nearly half of the banks in the U.S. having failed.  However, on March 15, 1933 “More than 70% of the state banks in Oklahoma (that had not failed) were authorized by state bank commissioner W.J. Barnett to open without restrictions on withdrawals” (Sapulpa Herald, March 15, 1933).  The Bank of Drummond was one of the 70% remaining banks to open without any restrictions.  From the available records it appears that the cashier missing the train in 1902 and the closing for the National Holiday were the only two closures of the Bank of Drummond.

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The 1930’s, like the 20’s, were fraught with many hardships.  The depression caused a significant drop in the price of wheat. In 1932 Turkey Creek flooded which impacted many of the wheat fields.  The drought that began in this area in 1933 brought crop failures, dust storms, and the migration of families west.  One of the worst dust storms reported occurred on April 14, 1935 and became known as Black Sunday.  Then the August 29, 1935 edition of The Enid Events, documented the elevator fire in Drummond where almost 11,000 bushels of wheat were destroyed.

Without the cooperation of the bank and the determination of the citizens, it would have been very difficult to overcome these setbacks.  However, the records clearly show how the Bank of Drummond worked cooperatively with the community and how the success of both were intricately interwoven.  Throughout the first four decades of the Town of Drummond, The Bank of Drummond was the anchor from which the town could survive and thrive through these adversities.

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Based on the Statement of Conditions reports available, the decade of the 40’s saw tremendous growth.  By 1948 the resources were valued at $1,460,124.

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In 1945 F. A. Horrall purchased the bank and became the president of the bank.  He served in that capacity until 1974.  

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This 29-year period with uninterrupted leadership certainly contributed to the growth of the bank’s resources.  Even though the 1930’s and 1940’s saw the rise in bank robberies from gangsters like Bonnie and Clyde and Pretty Boy Floyd, the Bank of Drummond did not experience any attempted robberies until August 1953.  

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Mrs. Chet Lovely heard a noise coming from the bank at 2:00 a.m. and contacted the sheriff who arrived with deputies around 2:30. A gun fight ensued but the robbers were able to get away.  However, the robbery was interrupted before anything could be stolen.    

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The resources of the bank in 1964 were $1,374,187. On September 29, 1966 the Bank Charter was extended. The term of incorporation was perpetual.  Another early morning bank robbery attempt occurred in March 1967 when the robbers attempted to enter the bank through two small windows in the front of the building.  “The attempt was foiled when the bank’s alarm system was accidentally set off and the burglars fled through the windows empty-handed.”

The final year that the building served as The Bank of Drummond was 1969.  The new bank was built on the lot north of the old bank building.  The new bank celebrated their open house on Sunday, April 27, 1969.  By the early 1970’s the bank resources were listed as $3,347,335, by the beginning of the 1980’s resources were listed as $10,334,383 and by 1990 the resources were listed as $14,292,461.  In 1998 the Bank of Drummond merged into Bank of Kremlin and became a branch of that bank.

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Fred Kaupke, President of The Bank of Drummond from Oct. 15, 1974-1981.

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Lula was first employed at The Bank of Drummond as a young woman Jan. 10, 1918.

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Donated by the Jay and Peggy Boehs family.  This was among Captain Nicu DeBarcey’s belongings.  It was a note written to Captain DeBarcey from the Bank of Drummond.  This was probably written around 1924 or 1925 based on the information at the top of the letterhead.  Charles W. Watson shows up on bank documents as president in July 1924.

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The Bank of Drummond was the driving force for the development of Drummond.  This exhibit provides some of the many names and faces of the people who built the bank and were devoted to the building and rebuilding of the town.  

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