The Bank of Florence

The Bank of Florence (HM1P8K)

Location: Omaha, NE 68112 Douglas County
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Country: United States of America
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N 41° 20.238', W 95° 57.65'

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Inscription
The Bank of Florence was chartered by the Nebraska Territorial legislature on January 18, 1856. It was located in this substantial building, constructed during the same year. Sheet steel one quarter inch thick, shipped by river steamboat from Pennsylvania steel mills, was used in conjunction with three foot thick masonry to build the vault.

The bank was owned and operate by the respected Iowa financial firm of Cook and Sargent. it played an important role in the aspiration of the town Florence to become the leading transportation and financial center of Nebraska. Frontier banking practices were lax and along with other banks in Nebraska Territory the Bank of Florence issued quantities of unsecured "wild cat" currency and financed speculation in land. Weakened by the financial panic of 1857 the Bank failed in 1859. Only one bank in Nebraska survived the Panic.

The building housed a variety of subsequent business operations including a second Bank of Florence which was chartered in 1904. It is now restored as it appeared in territorial times.
Details
HM NumberHM1P8K
Tags
Placed ByFlorence Historical Foundation & Historical Land Mark Council
Marker ConditionNo reports yet
Date Added Wednesday, November 11th, 2015 at 9:02am PST -08:00
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Locationbig map
UTM (WGS84 Datum)15T E 252248 N 4580431
Decimal Degrees41.33730000, -95.96083333
Degrees and Decimal MinutesN 41° 20.238', W 95° 57.65'
Degrees, Minutes and Seconds41° 20' 14.28" N, 95° 57' 39" W
Driving DirectionsGoogle Maps
Area Code(s)402
Which side of the road?Marker is on the right when traveling South
Closest Postal AddressAt or near 8502 N 30th St, Omaha NE 68112, US
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