Indian River State Bank

Indian River State Bank. Titusville’s First Bank. After operating a private bank for several years, Captain James Pritchard organized the Indian River State Bank in 1888 and built this bank building of brick, where he served as president and W.M Brown was cashier. The bank incorporated in 1889, Pritchard and Brown continued in their positions with W.B. Barnent. (President of National Bank of Jacksonville) as Vice President, and directors J.H. Durkee and W.S. Graham. Correspondents were Seaboard National Bank of New York and National Bank of Jacksonville. In 1909 the bank celebrated 20 years in business and boasted of being “the third oldest bank in the state:" Few renovations had been made until 1915 when a metal ceiling was installed, the outside awning removed, and the brick exterior stuccoed. The second floor was used as a community meeting room. Capt. Prichard had served for 37 years when he retired and sold his stock to the Anthony system on March 28, 1925. Anthony became bank president, W.J. Siddall, cashier, directors were D.B. Pritchard, W.F. Allen and. P.M. Roberts. The bank followed it’s policy of “Growth with Titusville,” and in 1926 the bank building was expanded by a one story addition which was on the east end with offices located, on the Julia Street side. The offices were leased by W.G. Allen, A. C. Terwillegar, Robertson and KingmanInsurance, Indian River Construction Co, and L.P. Brady. In the old bank building the former storeroom became the banking room, equipped with toilets, storage area and vault. The vault contained a time lock safe besides customer lock boxes. The old storeroom front was replaced with two large arched windows and a brick wall. The bank entrance remained at the corner door and opened to the public room (former banking room). The business room to the north was merged with the old one and became the business department, with new marble counters and, tellers windows. Included also were two offices, one private and one open for customer/banker conferences. Amities included a large fireplace, candle cluster lights, chandelier style hanging from the ceiling, and wall lights resembling candles. The small second floor balcony was removed and the brick exterior re-stuccoed and painted. In July 1926 the bank was bought by a group of local business men which included, P. W. Roberts, President; Vice Presidents, J.J. Parrish and D.B. Prichard; W.J. Siddall, Cashier; Directors, A.L., McGlaun, H.B. Smith, W.F. Allen, N.T. Froscher and H.J. Waters. The bank closed its doors in December 1928 and liquidation of assets began, managed by G. Brocket. By September 1934 remaining assets were put up at public auction by bank liquidator of the state, M.A. Smith of Orlando. Bidders included Carl Fay, head of Cocoa Speculation Co. of Cocoa, who had the winning bid of $1000. , Sponsored by Lovie Pritchard Chapter #561 of The Questers