Commerce: Watkins at center of bank's history

"Uncle Tom" Watkins Sr. is the name that heads Commerce Bank's past in Springfield. Not only was he co-founder of The Citizens Bank, which Commerce Bank purchased in 1967, he also served as the bank's first cashier, handling its day-to-day operations much like a chief operating officer does today. The cashier position no longer exists, but it was integral to the success of banks when Citizens was founded in 1902.

To many people, Uncle Tom was the bank, according to "History of Commerce Bank in Springfield," a book compiled in 1976 by bank employee Jan Mahaney. Watkins later was named president and continued to work in some facet until his death in 1963 at the age of 98. Four years after Watkins died, the bank sold to Commerce, but his legend continued. He is known to have dedicated his life to the success of the bank.

The Citizens Bank started on Commercial Street, a business hot spot around the turn of the century, when Springfield's population was 23,000, according to the history. Establishments such as Rathbone's Hardware, Ollis Insurance, Moon Law Offices and other professionals lined the brick road.

Jerome O'Hara served as the bank's first president, but it was more of a figurehead position then. Bank presidents seldom participated in the operation of the business, but they usually contributed as stockholders. Watkins changed the figurehead role to that of an active participant in daily operations when he became president in 1936.

Citizens Bank was among many banks along Commercial Street in the early 1900s, but one of few to survive the impact of the Great Depression on Springfield, beginning in 1930, and the bankers' holiday, a moratorium that closed all banks for three days in 1933.

Watkins would be proud to know that the bank he dedicated his life to has outlived his 98 years.