Brownson's Bank
Victoria, Victoria County, Texas
Marker Inscription
John Milton Brownson (1836-1906), a Confederate veteran of the Civil War who grew up in nearby DeWitt County, moved to Victoria in 1866 and opened a grocery store. In 1867 he founded Brownson's Bank, the first banking establishment in Victoria. Located in a frame building on the west side of Main Street between Constitution and Santa Rosa Streets, it became known as Brownson and Company in 1876. Brownson entered into a partnership with Eugene Sibley in 1882 to form Brownson and Sibley. In December 1889 they joined with 22 additional investors and organized the First National Bank of Victoria. Brownson served as first president of the new bank, which opened with a capital stock of $150,000. It was reorganized in 1913 as the Victoria National Bank. The following year, the institution relocated to the Welder Building at this site. The institution became the First Victoria National Bank in 1963. An important element of Victoria's business and economic history, this bank has included among its directors, officers and staff some of the area's most influential citizens. It continues to serve its customers and support numerous civic and charitable endeavors in the community. (1992)
Erected by Texas Historical Commission
The Story
John Milton Brownson, a Confederate veteran raised in nearby DeWitt County, opened a grocery in Victoria in 1866 and the next year founded the town's first bank in a modest frame building on Main Street. Through a string of partnerships and reorganizations it grew into the First National Bank of Victoria in 1889, with Brownson as its first president, and carried on under later names as a pillar of the local economy for generations.
Why it matters
The birth and long survival of a small-town bank traces how frontier settlements matured into stable commercial communities in the decades after the Civil War.
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Related people
- · John Milton Brownson
- · Eugene Sibley
Themes & tags
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