.
FIRST NATIONAL BANK OF LOS ALTOS
The history of the finance and the financial institutions of a
community are an index to its growth and development as a whole, and
the First National Bank of Los Altos, whose doors were opened for
business on December 1, 1919, has been manifestly successful since its
establishment. Organized with a capital of $25,000, its volume of
business has grown from its inception to a marked degree; its resources
are $200,000, with deposits amounting to $150,000. R. M. Tooker was the
first president of the institution and W. T. Clements its first
cashier, and M. 0. Adams, vice-president.
Its board of directors consists of the following well-known citizens:
Paul Shoup, Frank J. Costello, R. M. Tooker, M. 0. Adams, S. F. Oliver,
George N. Herbert, W. T. Clements, and Guy Shoup, attorney for the bank.
W. T. Clements, cashier of the bank, has displayed a wide knowledge of
the banking business in his important position. He is a native of
Kansas City, Mo., and in 1919, having disposed of a bank in his native
state, removed to California. Much of the credit of this splendid bank
is due to the untiring energy, ability and boosting spirit of Mr.
Clements, who keeps in close touch with the money, bond and stock
markets of the country; he is the adviser of many in this section as
regards financial matters, and is a consistent, constructive upbuilder
who believes strongly in the present and future of Los Altos and the
richly productive agricultural and development sections for which Los
Altos is the financial center. The officers and directors of this
institution are among the most widely known and able men of this
section of the State of California, successful leaders who have
achieved results, men who have the confidence of the bank's depositors
and of the people of this rapidly growing community. The First National
Bank of Los Altos owns its own buildings, and Los Altos is proud of her
First National Bank; and the bank looks proudly toward the city of Los
Altos of tomorrow
Transcribed by Carolyn Feroben, from Eugene T. Sawyers' History of Santa Clara County,California,
published by Historic Record Co. , 1922. page 1188
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