Details for First Hutchings-Sealy National Bank (Atlas Number 5167007441)

Historical Marker — Atlas Number 5167007441

Data

Marker Number 7441
Atlas Number 5167007441
Marker Title First Hutchings-Sealy National Bank
Index Entry First Hutchings-Sealy National Bank
Address
City Galveston
County Galveston
UTM Zone
UTM Easting
UTM Northing
Subject Codes banks, bankers, banking topics
Marker Year 1962
Designations Recorded Texas Historic Landmark
Marker Location
Marker Size 27" x 42"
Marker Text Successor of Texas' oldest bank and its first national bank. Founded in 1835 when Mexico granted a banking charter to the merchants Thomas F. McKinney and Samuel May Williams -- a firm wealthy enough in 1836 to finance the Texas War for Independence to a large extent. Later McKinney, Williams & Company moved from Quintana to Galveston, where in 1841 the Texas Republic authorized them to issue bank notes for circulation as money. When re-established in 1847 as "Commercial & Agricultural Bank," this became first chartered bank in the state. At its closing, 1859, Ball-Hutchings & Company assumed many of its activities. This company was established by two young men, John H. Hutchings and John Sealy, under the name of Hutchings, Sealy & Company at Sabine Pass in 1847 as a merchandise business. These men moved to Galveston in 1854 and joined with George Ball to form Ball-Hutchings & Company. In 1897 the firm changed its name to Hutchings, Sealy & Company, and in 1930 it merged with Henry Rosenberg's South Texas National Bank. In 1958 the Hutchings-Sealy National Bank merged with the First National Bank of Galveston, the latter being the first Texas bank chartered under the National Bank Act of 1865.