History of Old Second

Community Events

In 1871, the Second National Bank was chartered with an initial capital of $100,000. At that time national bank charters were issued for twenty-year periods. At the end of the first charter, the return of capital and undivided profits to the shareholders was $250,000—this in addition to the reports that, under the direction of President Alonzo George, the shareholders were also paid 10 % annual dividends during those first twenty years. Rather than send in the forms for a standard renewal, which was common at the time, the shareholders recapitalized the bank in 1891 with capital of $200,000, and in order to gain the prestige already gained from having survived the various panics and downturns of the times, the bank asked that the name be changed to “the Old” Second National Bank of Aurora.