Excerpts from a Greene County Heritage Trust Dinner Bulletin in 2007 by The Greeneville Sun
“For almost eight decades, the handsome brick bank and office building at 109 South Main Street has housed five banks. Located next to the Greene County Court House, the five story building is in the virtual center of the downtown Greeneville Historic District."
"The Greeneville Bank was chartered on December 3, 1887, and formally opened at 118 South Main Street, a site on the other side of the street in a location later occupied by the Princess Theater, now the law offices of Roger and Linda Woolsey. The bank was founded by Colonel John M. Brabson, J.E. Hacker, and Judge Newton Hacker. Prior to that time, all money needed to operate a business had to be shipped in by express, and each merchant had to safeguard his own funds.
"On November 23, 1889, the Greeneville Bank became a national bank. Those who signed the charter for the national bank were: John M. Brabson, Newton Hacker, John H. Doughty, Dr. John R. Boyd, John A. Park, William H. Armitage, J. W. Willis, Isaac A. Armitage, Robert J. Snapp, A.N. Shoun, and J.E. Hacker.
"The name was changed to First National Bank and the bank moved across the street on 124 South Main Street into a five story 29,000 square foot bank and office building. The magnificent new building was erected by Colonel John M. Brabson and contained the first vault in the county.
"The bank moved again on November 23, 1925, to 109 South Main Street. At that time, the building was one of the finest banking buildings in East Tennessee. The colorful electric American flag atop the building became a landmark and had significance for the community for almost eight decades, visible for a considerable distance at night.
"The flag has been a landmark since purchased in 1928 by the late Thomas D. Brabson, president of the First National Bank at that time. His purpose was to call attention to the fact that this was the community’s only national financial institution.
"During the bank moratorium in March, 1933, President Franklin Delano Roosevelt ordered the banks closed nationwide. No bank was permitted to reopen until it could show to the Comptroller of the Currency that it was liquid and under good management. The First National Bank was the first bank in Greene County to reopen without any restrictions. Two other banks survived, but five others were closed for liquidation.
“In a continuing series of sales and mergers, the bank became Sovran Bank, the NationsBank, and the Bank of America. During all of these changes in ownership, the local headquarters of the bank continued to be at 198 South Main Street.
"In 1974, the exterior of the bank was redesigned, and dark brown anodized aluminum sheathing was affixed over the original brick in an effort to unify the exterior appearance of the five story building and the lower adjacent bank-related buildings...The redesign was highly controversial at the time, both in the bank's board of directors and the community as a whole.
"The First National Bank was first in many ways: the first to provide a banking facility for the county, the first to have a vault in the county, the first to reopen for services to the county during the Depression, the first to have branch banks, and the fist to join a holding company.”
In 2000, the removal of the metal sheathing was funded by Scott Niswonger who wanted to see the building return to its original form.
