California Biographies
Mendocino and Lake Counties, California
 
Transcribed by Peggy Hooper

This file is part of the California Genealogy & History Archives 
http://www.rootsweb.ancestry.com/~cagha/index.htm

Source:
History of Mendocino and Lake Counties, California
With Biographical Sketches
History by Aurelius O. Carpenter And Percy H. Millberry
Illustrated, Complete In One Volume
Historic Record Company, Los Angeles, California, 1914


BANK OF WILLITS.� Incorporation under the laws of the state of 
California gave existence to the Bank of Willits, which dates the beginnings 
of its history from April 11, 1904, and the opening of its doors for business 
from the 2d of May following. The original board of directors included the 
following gentlemen: P. N. Lilienthal, president; W. A. S. Foster, vice-presi- 
dent; W. H. Baechtel, cashier; A. J. Fairbanks, Gordon Baechtel, Luther 
Redemeyer, J. S. Rohrbough and P. I. Lancaster. A decision was made Jan- 
uary 20, 1912, to reduce the number of directors from seven to five. From the 
first the bank has made a steady growth in strength and profits. During the 
decade of its existence it has lost less than $200 in bad notes, a record 
little short of remarkable when the large volume of its business is taken into 
consideration. 

The headquarters of the institution continued to be in rented property 
on the north side of Commercial street near Main until October, 1911, when 
the business was moved into the new home of the bank on the southeast 
corner of Commercial and Main streets. The handsome building erected for a 
home to the bank has been provided with a very modern equipment and sub- 
stantial conveniences that compare favorably with the appurtenances of a 
city institution, and those interested in its welfare have felt the greatest 
gratification at its steadfast hold upon the commercial element of the com- 
munity. Since the inception of the concern various changes have been made in 
the personnel of the staff and the directorate now comprises the following 
gentlemen: W. A. S. Foster, president; J. W. Lilienthal, vice-president; W. H. 
Baechtel, cashier; A. J- Fairbanks and P. I. Lancaster. H. M. Burke serves 
as assistant cashier and Mrs. Verna Corbett is the clerk. The policy of the 
bank is prudent and conservative as is evidenced by the adding of profits 
to the surplus, thereby increasing the financial strength of the concern. The 
financial condition of the bank at the close of business, August 15, 1913, ap- 
pears as follows : 

Resources: Cash, $29,868.29; bills receivable, $316,193.52; bonds, stocks 
and warrants, $67,790.00; furniture and fixtures, $2,171.80; due from banks, 
$47,488.25 ; bank premises, $11,281.25. Total, $474,793.11. 

Liabilities: Capital (all paid in), $50,000.00; surplus, $30,000.00; un- 
divided profits, $21,845.54; dividends unpaid, $750.00; depositors, $372,197.57. 
Total. $474,793.11.