The history of the finance and the financial institutions of a community are an index to its growth and development as a whole, and the First National Bank of Los Altos, whose doors were opened for business on December 1, 1919, has been manifestly successful since its establishment. Organized with a capital of $25,000, its volume of business has grown from its inception to a marked degree; its resources are $200,000, with deposits amounting to $150,000. R. M. Tooker was the first president of the institution and W. T. Clements its first cashier, and M. 0. Adams, vice-president.

Its board of directors consists of the following well-known citizens: Paul Shoup, Frank J. Costello, R. M. Tooker, M. 0. Adams, S. F. Oliver, George N. Herbert, W. T. Clements, and Guy Shoup, attorney for the bank.

W. T. Clements, cashier of the bank, has displayed a wide knowledge of the banking business in his important position. He is a native of Kansas City, Mo., and in 1919, having disposed of a bank in his native state, removed to California. Much of the credit of this splendid bank is due to the untiring energy, ability and boosting spirit of Mr. Clements, who keeps in close touch with the money, bond and stock markets of the country; he is the adviser of many in this section as regards financial matters, and is a consistent, constructive upbuilder who believes strongly in the present and future of Los Altos and the richly productive agricultural and development sections for which Los Altos is the financial center. The officers and directors of this institution are among the most widely known and able men of this section of the State of California, successful leaders who have achieved results, men who have the confidence of the bank's depositors and of the people of this rapidly growing community. The First National Bank of Los Altos owns its own buildings, and Los Altos is proud of her First National Bank; and the bank looks proudly toward the city of Los Altos of tomorrow

Transcribed by Carolyn Feroben, from Eugene T. Sawyers' History of Santa Clara County,California,
 published by Historic Record Co. , 1922. page 1188


SANTA CLARA COUNTY The Valley of Heart's Delight