Cape State Bank is third bank for Cape

Oct. 14, 1960 Southeast Missourian, excerpt

New Cape State Bank Acquires Highway Tract

The new Cape State Bank, officially sanctioned this week by Finance Commissioner G. Hubert Bates, made its first move to relocate in Cape Girardeau on Thursday with acquisition of a tract of ground on the west side of Kingshighway south of the Broadway intersection.

The property fronts 350 feet on the highway and is 300 feet deep. It extends from the A. & W. root beer stand on the north to the Travelers Cafe on the south.

Officials of the bank said the hill to the west will be removed and the site will be leveled. The property extends westward to connect with the east line of the Ralph Edwards Sportswear plant.

Two buildings on the tract are to be removed and razing operations on one began Thursday simultaneous with the purchase of the land from Charles N. Harris.

Planning provides for the transfer of the bank from Gordonville to Cape Girardeau about the first of the year, officials reported. They said the finance commissioner has authorized temporary quarters until a building is erected on the Kingshighway site.

In the period before removal here, operations will be continued at Gordonville, officials emphasized....

....A spokesman for the Cape State Bank said all accounts now marked for the Bank of Gordonville are being transferred to the name of the Cape State Bank.

On Saturday the bank will switch to the magnetic tape numerical system of control. Under this, a number will be assigned each account, will be carried at the bottom of each check written on that account and will last for the life of the account.

This, it was explained, makes possible the use of the latest electronic equipment in sorting, posting and other handling of checks....

....Concurrent with announcement of the Cape State Bank's plans, incorporators of the proposed Bank of Cape Girardeau and of both existing banks announced they have no plans to appeal the ruling of the State Banking Board granting a charter to the new bank.

Jan. 27, 1960 Southeast Missourian, excerpt

Deny New Bank Needed in Cape

JEFFERSON CITY -- Testimony that Cape Girardeau does not need a third bank continued today before the State Banking Board as the two existing banks concentrated their fire on efforts to move the Bank of Gordonville and change its name to the Cape State Bank.

Opposing state approval for the removal of the bank to a location in the rapidly-growing west end are First National Bank and Farmers & Merchants Bank.

Editor's Note:

Cape State Bank was chartered in 1904 as the Bank of Gordonville. In 1961, the bank moved its operations to 325 N. Kingshighway in Cape Girardeau. In 1963, the bank opened a facility at the Town Plaza Shopping Center.

Cape State Bank became Mercantile, then Firstar, then US Bank.

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Aug. 2, 2002 Southeast Missourian

CAPE GIRARDEAU BANKING HISTORY

• First National Bank became Centerre. Farmers and Merchants Bank became Boatmen's Bank. Boatmen's then bought out Centerre before Boatmen's became Nation's Bank. Nation's Bank then became Bank of America.

• Cape State Bank became Mercantile before becoming Firstar. Firstar recently became US Bank.

  Bank of Missouri was created when the Bank of Perryville opened its location in Cape Girardeau.

• Capaha Bank was created when Tamms State Bank in Tamms, Ill., opened a bank in Cape Girardeau. It then became Capaha Bank.

  Commerce Bank started from the remnants of First Exchange Bank failure.

  First National Bank, headquartered in Sikeston, opened a branch here.

  Alliance Bank is a bank chartered in Cape Girardeau and started here in 1997.

  Before becoming Union Planters Bank, it was Capital Bank, which had been made up of Cape County Bank and First Federal Savings and Loan.

  Though it was always owned by Wood & Huston Bank, Wood & Huston started out in Cape Girardeau as SEMO Bank. Then, about four years ago, it changed its name to Wood & Huston.

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• Below, a 1955 Buick Century is pictured in front of the Travelers Cafe on Highway 61. Cape State Bank would be built on the property north of the restaurant. The hill to the west was removed for construction of the bank.

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