The First National Bank of Bozeman opened for business in August 1872, was the first bank established in Bozeman or in Gallatin County. The officers were: President, L. M. Black; cashier, George W. Fox; additional directors, C. J. Lyster and John P. Bruce. The bank suspended in 1878.
The Bozeman National Bank opened in 1882, with Emory Cobb, president; C. H. Cobb, vice president; D. F. Sherman, cashier; directors, Thomas Lewis, W. H. Tracy, F. M. Esler, C. W. Hoffman, G. W. Wakefield and Walter Cooper. In 1893, this bank was closed for four months, on account of the panic, but was re-organized with some change in stockholders, and Peter Koch as the new cashier. C. W. Hoffman becoming president. This bank was merged with the Commercial National bank January 1, 1907.
The Gallatin Valley National Bank, established in 1882, had Nelson Story, president; J. E. Martin, cashier; additional directors, Lester S. Willson, E. Broox Martin and E. B. Lamme. This bank went into voluntary liquidation in 1893.
The Commercial National Bank organized October 4, 1892, as the Commercial Exchange Bank, had as first officers: E. Broox Martin, president; George Kinkel Jr., vice president; George L. Ramsey, cashier; and George Cox, assistant cashier. The additional stockholders beside these officers were: Mrs. Nettie Davis, Joseph Kountz, Louis Krueger, Mark Miller and John Scahill. In 1894, the capital stock was increased and the bank joined the national system as the Commercial National Bank. Henry Elling of Virginia City became president. In 1898, George Ramsey resigned as cashier and George Cox was elected, serving in that office until he was elected president of the bank, and J. H. Baker became cashier, a position he occupies in 1932. Mr. Cox resigned as president in 1921, becoming vice president, and Charles Vandenhook, then vice president, became president both occupying those positions in 1932. The good will of the Bozeman National Bank was purchased in 1907, and the stock of this bank has been increased at times, and in 1920 the Commercial National moved into its own fine business block.
The Gallatin State Bank, organized in 1902, continues in 1932 as the Gallatin Trust and Savings Bank. The Martin and Hall Bank, later changed to the National Bank of Gallatin Valley, was absorbed by the other local banks. There are banks in other parts of Gallatin Valley in 1932.