Minute books, dividend books, cashbooks, general and
individual deposit ledgers, discount registers, general balances, records of escrow,
outstanding cashier's checks, and other records created by Thatcher Brothers Banking Co.
during its 50 year history. Correspondence files are absent. Also includes records for
the West Cache State Bank of Trenton, Utah (1917-1923) and the Hyrum State Bank of
Hyrum, Utah (1911-1935). Other books show dealings of the Bank as trustees for the
Brigham Young College in the sale of the College's 10,000 acre endowment farm.
Special Collections and Archives Merrill-Cazier Library Utah State University Logan, UT 84322-3000 Telephone: 435-797-2663 Fax: 435-797-2880 firstname.lastname@example.org
Collection materials are in English.
Library Services and Technology Act (LSTA) grant,
In 1883, Logan, Utah's first bank was formed through a partnership between George W.
Thatcher Sr., Moses Thatcher Sr., H. E. Hatch, W. D. Hendricks, S. T. Josselyn, and W.
A. Rossiter, who organized the Thatcher Brothers & Company Banking with $58,500
in capital. Restructuring occurred within the bank in 1889, when it changed its name to
Thatcher Brothers Bank Company (TBBC), and had $100,000 in capital. Within a year the
bank built a large brick structure for $70,000 dollars on Center and Main Street of
Logan (the current location of the Wells Fargo Building). This new building housed the
Thatcher Brothers Banking Company on its lower levels and the Thatcher Opera House on
its two upper floors. From 1889 to 1913 the Thatcher Brothers Banking Company acted as
trustee for the sale of endowment lands from the Brigham Young College in Logan. With
Moses Thatcher's involvement in the bank, and his status as an apostle for the Church of
Jesus Christ of Latter-day Saints, some people perceived the Thatcher Brothers Banking
Company as a "Mormon bank." In response a gentile-operated bank, the First Security Bank
of Logan opened in competition to the Thatchers in 1892. Thereafter a number of banks
opened in Cache Valley, such as the Hyrum State Bank (1908), the State Bank of Richmond
(1908), and the West Cache Bank (1915). With the death of George W. Thatcher in 1902, H.
E. Hatch became acting president of the Thatcher Brothers Banking Company until the
Misfortune struck at 5:00 pm on April 17, 1912 when the Thatcher Bank caught fire,
consuming the entire structure. Although this was the end of the Thatcher Opera House,
temporary quarters were arranged to continue banking. By 1915 a new $150,000 building
was erected on the site of the burned structure. With business continuing, the Thatcher
Brothers Banking Company took over the assets and liabilities of the West Cache State
Bank in 1922. Financial difficulties from the agricultural depression of the 1920s hurt
the banking industry in Cache Valley, and in 1928 the First Security Corporation
acquired ownership of the Thatcher Brothers Banking Company, the State Bank of Richmond,
and the Hyrum State Bank. In 1933 the Thatcher Brothers Banking Company changed its name
to the First Security Bank of Logan.
Mss Collection 3: Thatcher Brothers Banking Company records, box 1, Fds 25-31. Mss
Collection 43: The Cache Valley Historical Society papers, box 2, Book 2.
This collection consists of the financial records of the Thatcher Brothers Banking
Company, the Hyrum State Bank, West Cache Bank, and the First Security Bank of Logan.
The collection consists of nearly 170 ledgers and three boxes of various papers, which
contain financial information on Logans first bankers, George W. Thatcher, Sr.
and Moses Thatcher, Sr. In addition, since the Thatcher Bank was the only bank in Cache
Valley from 1883-1892, these records contain extensive financial information on Cache
Valleys residents and businesses during this time period. Although boxes 1 and
2 (and many of the ledgers) in this collection contain correspondence, researchers
should also see COLL MSS 47: George W. Thatcher, Sr. Papers, which contain a substantial
amount of early business correspondence for the Thatcher Brothers Banking Company.
This collection is organized into three sections, section I (the majority of the
collection), contains records from the Thatcher Brothers Banking Company, section II
contains 13 ledgers from the Hyrum State Bank, and section III contains two stock
ledgers related to the West Cache Bank. boxes 1-3 contain incoming and outgoing
correspondence, bank employee payroll, historical information about the bank, small
ledgers, account books, deeds (one relating to the Brigham Young College, Logan), and
various other papers. The ledgers contain a record of the minutes of the board of
directors, daily transactions, savings accounts, stock purchases, safety deposit boxes,
deeds, power of attorney, outstanding loans, and other various books, such as a day book
connected to the Brigham Young College (Bk 138). Although boxes 1-3 and the ledgers from
section I primarily contain materials connected to the Thatcher Brothers Banking
Company, they also contain a small amount of material from other Cache Valley banks.
Use of the Collection
Restrictions on Access : Restrictions
Open to public research.
Restrictions on Use : Copyright
It is the responsibility of the user to obtain permission to publish from the owner of
the copyright (the institution, the creator of the record, the author or his/her
transferees, heirs, legates, or literary executors). The user agrees to indemnify and
hold harmless the Utah State University Libraries, its officers, employees, and agents
from and against all claims made by any person asserting that he or she is an owner of
Permission to publish material from the Thatcher Brothers Banking Co. records must
be obtained from the Special Collections Manuscript Curator and/or the Special Collections
Preferred Citation :
Thatcher Brothers Banking Co. records, 1883-1953. (COLL MSS 003) Utah State University.
Special Collections and Archives Department.
Organized in 3 sections:
I. Ledgers and records of the Thatcher Brothers Banking Company;
II. Records of the Hyrum State Bank;
III. Records of the West Cache State Bank.
Acquisition Information :
The materials contained in this collection were donated by the officers of First
Security Bank during the years of 1970-1973.
Related Materials :
Thatcher Brothers Banking Company photographs(P0230)