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Page: of 68
14, 1901. Shortly after this, G. J. Rector was made assistant cashier in charge of the Nevada City branch. The
officers and directors were all able and experienced businessmen, and the business was very successful from the
beginning.
In 1908, the control of the institution was purchased
by the elder Rector brothersand W. H. Martin, who, with
the younger Rector brothers (G. J. and E. M. Rector) had
been the guiding spirit in its management from the beginning. (18)
Upon the death of B. S. Rectorin 1915, G. J. Rector
succeeded to the presidency, and on November 15, 1916,
the bank purchased and absorbed the old and highly
regarded Citizens Bank of Nevada City and Grass Valley,
which had been founded by E. M. Preston and John T.
Morgan in 1876. The result of this amalgamation was
very satisfactory. The bank continued to flourish and to
increase its resources until it became one of the larger
banks of northern California. In 1920 the capital and surplus amounted to $600,000 with deposits of $4,500,000.
In 1917 the officers and directors were so confident
of the county’s future that they erected a large and handsome banking edifice on the corner of Mill and Bank
Streets in Grass Valley. This building which was designed
by architect William Mooser was a beautiful example of
the classic style as applied to modern bank buildings,
and its handsomely designed facade became a landmark
throughout northern California.
At that time the officers and directors, together
with the date of their connection with the bank, were as
follows: President, G. J. Rector, 1900; Vice President,
W. H. Martin, 1900; secretary-treasurer, E. M. Rector,
1902; cashier, A. H. Mooser, 1903; assistant cashier, L. V.
Mitchell, 1916; directors, A. L. Gill, 1907; V. R. Lindley,.