Detours Through Time

The original exterior of Richmond’s Second National Bank was revealed earlier this year after the 1960s metal covering was removed. The financial institution was established June 15^th 1872. The original name of the institution was The Second National Bank of Richmond (FDIC #4374)¹. $150,000 stock was subscribed for the establishment². Prior to the building standing today, the Second National Bank’s first home stood in a brick building, formerly known as Tremont. Tremont was a three-story building on the same plot of land. The bank operated in its rented space on the second floor. Two years later, Second National invested $15,000 in the purchase of the space to take ownership of the building. Later, Second National Bank also bought the drug store west of former Tremont to prepare for a new construction³.

The current building was constructed by Stillwell and Company in 1910⁴. During the demolition and new construction, the bank occupied space on the ground floor of the Vaughan block across the street. The brick building was razed and new construction began the same year⁵.

The building seen today was constructed with limestone, reinforced concrete, and terracotta trim. The dimensions were described as 40 by 100 feet and four stories tall. The interior is made with marble and brass with tiled floors. The bank was set to operate on the bottom floor with the top spaces filled with suites for offices. Each floor contained a fireproof safe built into the walls. The total cost of the replacement bank building was estimated to be $100,000⁶. The fully fireproof building set to open for operation in spring of 1911⁷.

Andrew Finley Scott served as the bank’s first president from 1872 until 1894. After A. F. Scott’s death, William George Scott took over as president from 1895 to 1897. John Milton Gaar briefly served the role from 1898 to 1899. John Bartley Dougan was the bank’s first cashier from 1872 until 1897. As vice president of the bank at the time of J. M. Gaar’s death, J. B. Dougan promoted to the role which he served until his death in 1914⁸.

Samuel W. Gaar, nephew of J. M. Gaar, filled in as president until 1930 when Albert Gallatin Matthews took his turn in the role until 1932. Dudley Northrup Elmer was president of Second National Bank until The Great Depression’s impact left the bank completely wiped of cash by December 31^st 1935. Despite its struggle, the bank remained open⁹.

Why are there two Second National Banks adjacent to one another? In 1947, the Second National Trust Company took ownership of Dickinson’s Trust Company, which closed down the year before. The former Dickinson building located on the northeast corner of the same intersection became the second location of the Second National branch in Richmond. A third location was also opened in a former home on the east side of town in 1953¹⁰.

Second National Bank has merged to multiple franchises over the years including Star Bank and Harris N. A. Out of the three Second National Bank locations in Richmond, only the 2909 East Main building is still in operation today as U.S. Bank. The second location, the largest building of the branch, is now owned by Richmond Neighborhood Restoration, and has remained vacant since 2020¹¹. The newly uncovered building is currently owned by AP Development LLC with initiative to revitalize the downtown area.

Sources:

1. FDIC. Star Bank, National Association, Indiana. Web. Retrieved 2026 June 29.
2. Richmond Independent Telegram. 1872 January 12. P 3.
3. Milestones in Bank’s March of Progress. 1956 May 13. Palladium-Item. P 15.
4. Notice Was Served. 1910 November 30. Palladium-Item. P 16.
5. (see footnote 3)
6. (see footnote 3)
7. The New Second National Bank. 1910 March 2. Palladium-Item. P 1.
8. U.S. National Bank Lookup. Bank Info for NB Charter. Web. Retrieved 2026 June 29.
9. (see footnote 8)
10. (see footnote 3)
11. RNR Acquire Former US Bank Building. Web Retrieved 2026 July 3.