Historic Downtown Salem #21: Capitol National Bank

129 Commercial Street NE

Capitol National Bank Building on November 30, 2006.

This Richardsonian Romanesque style building, originally built in 1880, was remodeled in 1892 to its rusticated stone appearance, and became Capital National Bank. Designed by C. S. McNally, a Canadian who came to Salem in the 1880s, and draftsman W. C. Knighton, this facade is reportedly a copy of Philadelphia's First National Bank of the Republic, which was designed by Frank Furness in 1884. This builders of this facade were Erixson and Luker. Utah red and Tenino gray sandstone make up much of the facade. Originally two columns of polished Scotch granite supported a half-arch doorway. The keystone in the arch over a second story window bears the facsimile of the beaver dollar, a $10 gold piece minted in 1849 when Oregon was a territory. Capitol National Bank became First National Bank in 1924, and moved soon after. In the mid-1940s, this building was occupied by Huggins Insurance. The ground floor was remodeled by Salem architect James L. Payne in 1950, at which time the building was occupied by 1st Federal Savings. A new first floor facade was installed, requiring steel beams to support the original facade of the upper floors, consisting of over 100 tons of stone. A new entry consisting of a large picture window and double doors was installed to provide more light. Red and gray granite was used for the new first floor facade to match the Utah red and Tenino gray sandstone used through much of the original facade. The windows and doors have been replaced since the 1950 remodeling. In 1967, Nancy Gormsen, the granddaughter of Robert S. Wallace, one of the early organizers and directors of the Capitol National Bank, opened her own business in the building. For many years it was occupied by Globe Travel and today it is home to Earle Antiques. Bronze letters spelling out BANK are still imbedded in the sidewalk in front of the building.

Letters in the sidewalk on October 3, 2006.

Additional Links:
Capital National Bank at Salem Online History

Historical Photos:
Capitol National Bank Building (Oregon State Library)
Capital National Bank, unknown date (Salem Public Library)
1st Federal Savings, unknown date (Salem Public Library)
Globe Travel, unknown date (Salem Public Library)

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