Lebanon #17: First National Bank of Lebanon

40 West Sherman Street

First National Bank of Lebanon Building on October 21, 2006

This Italianate-style building was built in 1891 (the Linn County Assessor’s website says 1910) by Charles H. Ralston and James L. Cowan as the home of their Cowan Ralston Bank, the first bank in Lebanon. Originally the building was a full half-block long, reaching east to the corner of Main Street. The east half contained the bank lobby, while this half contained the bank offices. The east half, which today has a different owner than the west half, has been renovated with a modern facade. The Cowan Ralston Bank was renamed the Bank of Lebanon when J.W. Cusic became involved. The bank closed during the financial panic of 1893, and the building was sold to Dr. J.S. Courtney. A new bank opened here in 1896 by J.P. Scroggin and Washburn. Scroggin was the owner of the Seamore and Scroggin Sawmill and was the father of Ralph Scroggin, who owned Scroggin Feed & Seed Company and was mayor of Lebanon in the 1930s.

In 1913, the First National Bank of Lebanon opened here by Joel C. Mayers, Steve Bach, Senator Samuel Garland, Powers, and George H. Burl. Mayers was president of the bank for many years. He had also been mayor of Lebanon when the first strawberry festival was held in 1909. In 1932, the First National Bank of Lebanon merged with the Lebanon National Bank. The combined bank used the First National Bank of Lebanon name but operated in the Lebanon National Bank’s newer building on Main Street, vacating this building. It ended up being divided into several storefronts. As of 2007, it was home to several businesses, including Jan’s Books, David’s Sports Cards & Collectibles and Lorene’s Café.

Continue to 18: Lebanon Evangelical Church…