Altus in Franklin County, Arkansas — The American South (West South Central)
German-American Bank
Photographed By Duane and Tracy Marsteller, October 15, 2023
1. German-American Bank Marker
has been placed on the
National Register
of Historic Places
by the United States
Department of the Interior
Arkansas
Historic Preservation
Program
Department of Arkansas Heritage
Topics and series. This historical marker is listed in these topic lists: Architecture • Industry & Commerce. In addition, it is included in the National Register of Historic Places series list. A significant historical year for this entry is 1905.
Location. 35° 26.764′ N, 93° 45.732′ W. Marker is in Altus, Arkansas, in Franklin County. Marker is at the intersection of West Main and Franklin, on the left when traveling east on West Main. Touch for map. Marker is at or near this postal address: 26 W Main, Altus AR 72821, United States of America. Touch for directions.
Other nearby markers. At least 8 other markers are within 5 miles of this marker, measured as the crow flies. O'Kane-Jacobs House (approx. ¼ mile away); Skirmishes at Roseville (approx. 4.4 miles away); Trail of Tears Memorial (approx. 4½ miles away); Missouri-Pacific Depot, Ozark (approx. 4½ miles away); Bristow Hotel (approx. 4.6 miles away); In Memory of our Friends Lost in Korea, Vietnam & Iraq (approx. 4.6 miles away);
this page online
Regarding German-American Bank. Excerpts from the National Register nomination:
German and Swiss settlement in Altus began in 1881, when immigrants from the wine making regions of both countries who had been encouraged to settle here by the railroads began growing grapes on Pond Creek Mountain just to the north of the center of Altus. These immigrants continued to settle the rich, fertile farmland on the hills above Altus, and the wine industry continued to grow through the first decades of the twentieth century…
As was frequently the case for immigrant groups throughout America in the nineteenth and early twentieth centuries, most services, including credit, were easier to obtain from members of one's own ethnic and cultural group than from more established sources outside it. … In response to this, immigrants frequently took matters into their own hands and established their own services; the German-American Bank was such an institution.
Located at a corner of the town square, the German-American Bank was constructed in 1905, the bank itself beginning with a total of $25,000 in capital. True to its name,its president, vice-president, cashier and board of directors included people of both Germanic and non-Germanic descent. Like many banks founded during the period 1903-1913 in Arkansas – a period which saw the number of national banks in Arkansas grow from 15 to 50 and the number of state banks grow from 85 to 251 – the German-American Bank grew steadily and prospered. It changed its name to the Bank of Altus around 1916 when World War I broke out, due to a wave of local anti-German hysteria. By 1918 the Bank of Altus closed its doors and paid off but three percent of its deposits. Another bank did not occupy the building until 1935, when the Altus Banking Company opened a new bank here; however, this bank survived only three years, closing in June of 1938.Photographed By Duane and Tracy Marsteller, October 15, 20232. German-American Bank Marker
Also see . . . German-American Bank (PDF). National Register nomination for the building, which was listed in 1990. (Prepared by Kenneth Story, Arkansas Historic Preservation Program; via National Archives) (Submitted on November 27, 2023, by Duane and Tracy Marsteller of Murfreesboro, Tennessee.)
Credits. This page was last revised on November 27, 2023. It was originally submitted on November 27, 2023, by Duane and Tracy Marsteller of Murfreesboro, Tennessee. This page has been viewed 38 times since then and 11 times this year. Photos: 1, 2. submitted on November 27, 2023, by Duane and Tracy Marsteller of Murfreesboro, Tennessee.
