The Merchants' and Drovers' Bank was the first bank in Medicine Lodge, established in October, 1880, by H.M. Hickman from Wellington. It closed on January 10, 1882. Two days later the Medicine Valley Bank was formed with Wylie Payne, President; George Geppert, Cashier; and Frank Chapin, Assistant Cashier. In August, 1882, construction was begun on the southwest corner of Main Street and Kansas Avenue. A fine bank building was completed in March 1883. Tragedy struck on April 30, 1884, when the marshal of Caldwell, Henry Brown; his assistant, Ben Wheeler; and two cowboys, John Wesley and Billy Smith attempted to rob the bank killing Payne and Geppert. A posse pursued the robbers into the gyp hills, trapped them in a box canyon, captured them and brought them in to jail. Later that night, townsmen demanded to see the robbers who tried to escape. Brown was shot and killed and Wheeler wounded. The three survivors were hanged from an elm tree on Spring Creek at the bottom of East 1st Avenue. In May, 1884, the directors of the Medicine Valley Bank elected new officers. Frank Chapin remained as Assistant Cashier. Then in October, 1884, The First National Bank succeeded the Medicine Valley Bank and continues to remain vital to the community.
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