The building you see today is a 1963 brick overlay and remodel of the 1941 bank, but its story is much richer.
For over 133 years, banking was the business on this corner.
What was here before? Originally there was a two-story wood frame building erected about 1880. Our first known use was as a general merchandise store in 1884.
In August 1886, Daniel F. Percival and W.R. Andrus purchased the banking business of Dr. N. Fred Essig that was called the Bank of Cheney.
It appears that by the following year they had moved both their Bank of Cheney and real estate offices to the more central location of the two-story building on the southwest corner of 1st and today’s College Ave.
DISASTER!
In the pre-dawn hours of 18 April 1889, the Bank of Cheney was destroyed in the great fire that consumed 45 businesses and homes from this corner east to B Street.
The Spokesman-Review reported:
…….when they opened the cooled vault just before noon after the fire, they found all of the cash and documents in good order.
Three hours later, the Bank of Cheney was back in business in temporary quarters two doors to the west. Mr. Percival vowed to build a fine new brick building commencing immediately on the old site.
By February 1890, a two-story brick building with its entrance facing the corner and the turret above greeted bank customers. On the second floor were offices for attorneys and physicians.
The Northwest Tribune newspaper announced on 24 April 1891 that the Bank of Cheney had re-organized as First National Bank of Cheney with capital stock of $50,000. Board of Directors were: Daniel F. Percival, president; George F. Cummin, vice president; W.E. Wegan, Cashier; and board members S.G. Grubel and W.M. Dean.
Mr. Percival stands in the open doorway. No photo is complete without a dog.
The Honorable Daniel F. Percival died at age 67 on 11 January 1907. The entire business district closed for his funeral.
He had been president of Percival & Co. and the bank since 1886.
His wife, Fannie C. Percival, took over the company operating both the bank and real estate business for over a year.
Mrs. Percival transferred ownership in March 1908 to Frank M. Martin as president and Peter O. Hansen, vice president, as they filed papers to reorganize the bank.Â
On 26 March 1908, it officially became The National Bank of Cheney. with Edward F. Betz as president.
The bank has recently placed on the front of its building an immense chime clock that bids fair to become a landmark known far and wide. The dial of the clock is of immense size rendering it plainly visible from long distances during the day. At night this is illuminated electrically and chimes the time each quarter hour. The clock dial and chimes are combined to call attention to people far and near to "the bank that always treat you right."
In 1924, the building was remodeled. The turret was removed and the entrance was moved from the corner to the west end of the front. The brick was replaced with grey stone. The windows along College Ave remained, but new larger windows adorned the front of the bank. The interior was also remodeled.
In early 1928, Cheney’s two national banks, the National Bank of Cheney and Security National Bank directly across 1st Street, announced they were working to consolidate their businesses. The last advertisement for the National Bank of Cheney appeared in the Normal School Journal 22 February 1928.Â
Keeping the name, Security National Bank, all operations moved to the Bank of Cheney building.
Security National Bank became part of the Spokane & Eastern Trust Company in 1934. In November of the following year it was acquired by Seattle First National Bank, and the SeaFirst era began.
In September 1941, the Cheney Free Press announced that the Walter’s building next door to the bank would be demolished to make room for the rebuilding and expansion of the Seattle First National Bank building on the corner of First & Normal (College Ave.)
Louis Walter built his two-story brick harness shop building with a lodge hall upstairs, in 1887. During the demolition and construction, the banking business continued in temporary quarters in the basement of the City Light offices in downtown.
An open house was held on 10 April 1942 to introduce the new home of the Cheney Branch of Seattle-First National Bank.
The building is of exposed concrete, 36x80 feet, set back from the street to permit attractive landscaping. Large expanses of windows and decorated columns add to the beauty of the building. New fixtures and furniture are meant to harmonize with the building, and the counter screens and desks are of black walnut and in keeping with the woodwork. Attracting attention inside the bank is the mural painted by J.E. McBurney, which represents the pioneers in their early settlement of the Cheney vicinity, showing the first crude school building, which later became the Cheney Normal school and now Eastern Washington College of Education. The vaults are extensive and of the most modern type.
During the autumn of 1963, the bank again underwent extensive remodeling, overlaying the exterior with brick along with other interior changes.
The elevated drive up window was completed by 1970.
Also, to expand parking during the 1970s, SeaFirst purchased and demolished the old Pix Theater built in 1928 and in the 1980s, the adjacent department store building from 1938.
Seattle-First National Bank was purchased by Bank of America on 1 October 1998.Â
Bank of America permanently closed the Cheney branch at the end of business 16 July 2019.
In the Spring of 2023, Danielle LaBar gave new life to the building along with some remodeling improvements to open Touchstone Real Estate.
