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Citizens Bank of Louisiana

Citizens Bank of Louisiana received its charter in 1835, a little more than two decades after Louisiana became a state. The charter came in the heart of the banking boom, which ran from 1831-1835, and it was the result of the need for public improvements. The Bank’s operations were considered forerunners to modern banking, with both investment and commercial banking done by a single institution. The commercial side handled cash assets and liabilities, while the loan office took care of long-term mortgage credits and “accommodation loans.” This makes its notes fascinating pieces for those with an interest in banking.

With $12 million in capital, the bank was the second largest after the Second Bank of the United States. In spite of the brisk start to its business, a court order sent it into liquidation in 1842. One of the major reasons for this was the panic of 1837 and the high rates of inflation among Southern banks. The bank’s doors were shut very briefly, although, it reopened within months with a new charter that enabled it to open seven branches throughout the state. Today, the bank has branches throughout the state.

The bank issued notes from the 1830s to the 1860s, with the Shreveport branch limited to issues in the 1860s. The notes ranged in value from $1 to $1000, including three obsolete bank notes with denominations of $3, $500, and $1000. Today, these notes no longer hold their face values, but they are often bought and sold as collectibles. Consider adding one or more of their notes from a fascinating time in American history to your currency collection.

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