City National Bank of Boise
Opened in 1886, the Boise City National Bank quickly became one of the largest financial houses in Idaho and the Pacific Northwest, operating for a total of forty-six years.
In 1886 Boise had a single national bank and Idaho’s growing mining and agricultural production offered conditions for another financial house. Alfred Eoff, a freelance economic agent operating across the American West since the 1860s, took advantage of this opportunity. Encouraged by Wells Fargo & Company treasurer Henry Wadsworth to seize the opportunity, Eoff established Boise City National Bank in 1886. Situated near Main Street and Capitol Boulevard, it was established as a competitor to the First National Bank of Idaho. Wadsworth acted as City National’s president while Eoff became its cashier, becoming part of Wells Fargo’s growing presence in the American West.
Wadsworth’s recommendations proved sound. By 1890, City National Bank’s portfolio included over $620,000 in financial assets, with $65,000 held in securities alone. Idaho’s population boom increased City National’s business, requiring a larger building as the initial bank became too small to house its customers and resources, including cash, deeds, or precious metals. This led City National Bank’s board to construct a three-story building designed by local architect James King that could house both the bank and rentable commercial and office space. This new structure housed not only the bank but also the United States Marshals’ and Surveyor’s Offices as well as Idaho’s federal district court after its completion in 1892.
Despite the 1890s economic downturn, City National’s portfolio continually increased, with total assets totaling $870,000 by 1900. Continued growth led to the addition of a fourth story commercial club in 1904 and renovations in 1913, all designed by John Tourtellotte & Company who also planned Idaho’s State Capitol. The commercial club catered to its patrons, who likely consisted of influential stockmen, farmers, and investors, offering amenities such as a dining district, billiards parlor, cardroom, lounge, writing room, and a library.
By 1905, Wadsworth retired and Frank R. Coffin became City National’s new president. Coffin, previously lured west from Indiana, first settled in California as a tinsmith and later became a gold miner in Idaho’s 1860 gold strike. He served as Idaho’s first state treasurer from 1891-93, treasurer of the Artesian Hot and Cold Power Company, one of the state's leading utility corporations, and president of the Boise Clearinghouse Association, a local financial institution. Serving as president until he died in 1920, Coffin further expanded City National’s reach until it became Idaho's second-largest national bank, with $1.6 million in total assets.
By 1932, during the strain of the Great Depression, City National voluntarily closed, citing depleted reserves. It argued that closure was the best option for depositors, with the remaining $2.5 million in accounts distributed among its clients. After its closure, various owners occupied the bank building, including the Idaho Building and Loan Association and the J. R. Simplot Company, one of Idaho’s largest corporations. Today it is owned by Rocky Mountain Management, and houses many offices and commercial businesses.
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