Producers State Bank of Tulsa, Oklahoma, represents a significant chapter in the history of banking in the region, particularly during the early 20th century when Tulsa was emerging as a major oil hub. Established as First State Bank before being renamed, Producers State Bank played a pivotal role in supporting the local economy, especially the burgeoning oil industry.
Founding and Early Operations
Originally founded as First State Bank, the institution was part of the wave of banking enterprises that sprang up to support the economic boom in Tulsa driven by the oil industry. The bank was later renamed Producers State Bank, a title that reflected its close association with the oil producers and related businesses that were flourishing in the area at the time.
Role in the Community
Producers State Bank was more than just a financial institution; it was a cornerstone of Tulsa's economic and community development. The bank provided essential financial services such as deposits, loans, and mortgages, which were crucial for the growth of local businesses and the residential sector. Its services helped facilitate the rapid development of Tulsa during the oil boom, making it a key player in the city's transformation into a significant economic center.
Leadership and Influence
The leadership of Producers State Bank included notable figures such as T.J. Hartman, who served as the president of the bank in 1917. Hartman was also involved in other significant ventures, including the Tulsa Automobile Corporation, indicating the interconnected nature of banking and industrial growth in Tulsa during this period.
Economic Impact and Legacy
The impact of Producers State Bank on Tulsa’s economy was profound. By providing necessary capital and financial services, the bank enabled the growth of the oil industry and other sectors, contributing to the overall prosperity of the region. The bank's operations during its peak years exemplify the critical role that regional banks played in local economies, particularly in areas experiencing rapid industrial growth.
In Summary
Producers State Bank of Tulsa is a historical emblem of the symbiotic relationship between banking and industrial expansion in early 20th-century America. While specific records of its later history and eventual fate are sparse, the bank’s contributions during its operational years left a lasting imprint on Tulsa's economic landscape. The legacy of Producers State Bank remains a testament to the role of financial institutions in regional development and prosperity.
Sources:
okhistory.org