Downtown Silver Spring in Montgomery County, Maryland — The American Northeast (Mid-Atlantic)
First Bank, First Heist
West Side Development
— Silver Heritage Georgia Avenue —
Photographed By Allen C. Browne, December 22, 2012
1. First Bank, First Heist Marker
Inscription.
First Bank, First Heist. West Side Development. , Silver Spring's First Bank Robbery occurred in 1928, here on the southwest corner of Georgia Avenue and Oak Street (today's Bonifant Street). , Commerce in this block began on September 1, 1925, when the Colonial Revival-style Silver Spring National Bank, at 8252 Georgia Avenue, became the first business to open. Founded in 1910, the move of the community's first bank (from the corner of today's Georgia and Sligo Avenues) was necessitated by Georgia Avenue's widening and construction of the original "viaduct," or Baltimore and Ohio Railroad underpass. , The bank robbery occurred here on October 27, 1928 when Takoma Park, MD resident Hugh L. McDaniel told assistant cashier Fred L Lutes to "Give me all you've got." Lutes handed over $2,200 but followed up with two shots from his pistol. Cashier Ira C. Whitacre joined in with three shots from his gun before running outside and firing two more at the bandit escaping in a taxi. Within hours McDaniel was apprehended and all but about $10 of the stolen money was recovered. Two months later, McDaniel, a photographer, was convicted and sentenced to fifteen years in jail. , In 1938, the bank merged with the failing Takoma Park Bank and was renamed The Suburban National Bank. Expanded business resulted that year in the addition of a 16-foot-deep classical limestone facade designed by the noted Tilghman Moyer Company of Allentown, PA. A second merger occurred in 1951 with Prince Georges Bank Trust Co. Renamed The Suburban Trust Co, with Silver Spring as its headquarters, a rear addition in the international style was added. "Ghost" letters of The Suburban National Bank name are visible on either side of the Georgia Avenue entrance.
Silver Spring's First Bank Robbery occurred in 1928, here on the southwest corner of Georgia Avenue and Oak Street (today's Bonifant Street).
Commerce in this block began on September 1, 1925, when the Colonial Revival-style Silver Spring National Bank, at 8252 Georgia Avenue, became the first business to open. Founded in 1910, the move of the community's first bank (from the corner of today's Georgia and Sligo Avenues) was necessitated by Georgia Avenue's widening and construction of the original "viaduct," or Baltimore & Ohio Railroad underpass.
The bank robbery occurred here on October 27, 1928 when Takoma Park, MD resident Hugh L. McDaniel told assistant cashier Fred L Lutes to "Give me all you've got." Lutes handed over $2,200 but followed up with two shots from his pistol. Cashier Ira C. Whitacre joined in with three shots from his gun before running outside and firing two more at the bandit escaping in a taxi. Within hours McDaniel was apprehended and all but about $10 of the stolen money was recovered. Two months later, McDaniel, a photographer, was convicted and sentenced to fifteen years in jail.
In 1938, the bank merged with the failing Takoma Park Bank and was renamed The Suburban National Bank. Expanded business resulted that year in the addition of a 16-foot-deep classical
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limestone facade designed by the noted Tilghman Moyer Company of Allentown, PA. A second merger occurred in 1951 with Prince Georges Bank Trust Co. Renamed The Suburban Trust Co, with Silver Spring as its headquarters, a rear addition in the international style was added. "Ghost" letters of The Suburban National Bank name are visible on either side of the Georgia Avenue entrance.
Erected by Silver Spring Historical Society.
Topics. This historical marker is listed in this topic list: Industry & Commerce. A significant historical month for this entry is September 1979.
Location. 38° 59.597′ N, 77° 1.61′ W. Marker is in Silver Spring, Maryland, in Montgomery County. It is in Downtown Silver Spring. Marker is on Georgia Avenue near Bonifant Street when traveling south. Touch for map. Marker is at or near this postal address: 8252 Georgia Avenue, Silver Spring MD 20910, United States of America. Touch for directions.
Silver Spring National Bank's (from left) Ira C. Whitacre, cashier; James H. Cissel, founding and long-time president; and Fred L. Lutes, assistant cashier, posed forthe October 27, 1928 Evening Star after the town's first bank robbery. Whitacre and Lutes fired their personal pistols at the escaping robber.
Close-up of photo on marker Washingtoniana Division, DC Public Library
Photographed By Allen C. Browne, August 17, 2013
4. Cornerstone of Commercial Development.
This original architectural rendering fo the front elevation of the Silver Spring National Bank was used on the banks 1934 letterhead. The bank, at 8252 Georgia Avenue, was designed and constructed by John M. Faulconer and Frank B. Proctor in 1925.
Close-up of image on marker Silver Spring Historical Society and E. Brook Lee III
Photographed By Allen C. Browne, August 17, 2013
5. Inquisitive Spectators.
This photograph of a crowd gathering shortly after the holdup of the Silver Spring National Bank appeared in the Oct. 27, 1928 Evening Star. Can you spot the difference in the bank's completed design form its original architectural rendering?
Close-up of photo on marker Washingtoniana Division, DC Public Library
Photographed By Allen C. Browne, August 17, 2013
6. Why is "Silver Spring" printed on this bill?
"National Currency" was established by the National Banking Act of 1863, which chartered individual national banks to both guarantee their notes featuring the institution's name, a system that lasted until 1935. This $10 note was issued by Silver Spring National Bank in 1920 and featured then, as now, a portrait of the first U.S. Secretary of the Treasury, Alexander Hamilton.
Close-up of photo on marker Silver Spring Historical Society and J. Fred Maples
Silver Spring National Bank, charter no. 9830, issued 970 sheets of these series 1929, type 1, ten-dollar notes. In addition to U.S. Register of the Treasury, E. E. Jones and U.S. Treasurer, W. O. Woods, the note is signed by cashier Ira C. Whitacre and president James H. Cissel.
Photographed By Allen C. Browne, August 17, 2013
7. Community Visionary
Banker and lawyer Thomas Howard Duckett, from 1915 to 1965, guided the Silver Spring National Bank through its subsequent mergers, and through Franklin D. Roosevelt's 1933 "Bank Holiday" during the Great Depression, and World War II staff shortages, with the implementation of "Woman Power," Duckett, whose law offices were on the top floor of the bank, played seminal roles the establishment of the Washington Suburban Sanitary Commission in 1918 and the Maryland National Capital Park & Planning Commission in 1927.
Close-up of photo on marker Photo Source: Fifty Years of Suburban Banking, etc. 1915-1965
Photographed By Allen C. Browne, August 17, 2013
8. 8252 Georgia Avenue
Today the Suburban Bank Building is occupied by Bethel World Outreach Church, Bishop Darlingston G. Johnson & Lady Chrys Johnson, Senior Pastors.
Photographed By Allen C. Browne, August 17, 2013
9. 8252 Georgia Avenue
Photographed By Allen C. Browne, August 17, 2013
10. Architectural Detail
Decorative carving in Indiana Limestone
Photographed By Allen C. Browne, April 17, 2016
11. Demolished
The Suburban Bank Building has been demolished to make way for an apartment building.The marker remains.
Credits. This page was last revised on May 25, 2023. It was originally submitted on August 23, 2013, by Allen C. Browne of Silver Spring, Maryland. This page has been viewed 976 times since then and 25 times this year. Last updated on October 22, 2018, by Bruce Guthrie of Silver Spring, Maryland. Photos:1, 2, 3, 4, 5, 6, 7, 8, 9, 10. submitted on August 23, 2013, by Allen C. Browne of Silver Spring, Maryland. 11. submitted on July 8, 2016, by Allen C. Browne of Silver Spring, Maryland. • Andrew Ruppenstein was the editor who published this page.