The History of First National 1870 in New Mexico
For more than 150 years, we have been deeply embedded in the landscape of New Mexico. Originally founded as First National Bank of Santa Fe in 1870, today to honor this heritage we are known as First National 1870, a division of Sunflower Bank, N.A., in Albuquerque, Los Alamos and Santa Fe. Yet, regardless of our name, our commitment to our customers and the community remains steadfast. We continue to create relationships throughout the community as we move our customers’ hopes from dreams to reality – whether it’s through homes purchased, retirement dreams realized, or businesses seeking a trustworthy partner.
Beyond 1870: The History of Santa Fe's Bank
In 1870 — more than 40 years before New Mexico would become the 47th U.S. state in 1912 — it was remote and not well-known territory having become a U.S. territory only 24 years earlier.
Even then, it was a region with distinctive cultural and historical traditions, many of which continue to resonate today. For businesses, however, the financial system was vastly different from what we know now. Banking services were provided by merchants; barter was prevalent, and, according to documents from the period, there was not a bank within 400 miles of Santa Fe.
It was out of this backdrop that the First National Bank of Santa Fe was founded as the first bank in the Southwest, establishing its charter on December 13, 1870, before opening its doors on April 15, 1871, in the first of several locations that it would occupy in present-day Santa Fe.
Our History
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Courtesy of Santa Fe New MexicanCreating the First National Bank in the Southwest
While the new bank wouldn’t open for business for several months, its December 1870 charter marked a new chapter in Santa Fe history. There were still important details to be worked out, with the most important being the acquisition of physical money for an area whose economy had been operating substantively on trade.
“Three ambulances with an escort of 25 soldiers came in this afternoon bringing a large sum of money for the US Depository in this place,” The Santa Fe New Mexican newspaper reported in February 1871 in a story reprinted in 1954. It was further noted by The New Mexican that “The party was 10 days on the road between Fort Lyons and Union and experienced disagreeable weather throughout the entire trip.”
The First National Bank of Santa Fe was originally located at the Don Fernando Delgado building, which shares the footprint of our current location on the Santa Fe Plaza. The building was rented for $30 a month and used a second-hand vault purchased for $400. To this day, our downtown branch is a prominent Santa Fe landmark and is home to an annual model train exhibition in the lobby during the holidays and a tourist information booth in the summer.
Engaging a Century of Growth and Change in New Mexico
As the region’s economy grew, so did the bank. Strong management was able to preserve the First National Bank of Santa Fe through The Great Depression. By the time World War II began, the bank was positioned to play an important role in the secretive U.S. government efforts to end the war.
The bank’s service to the country, and specifically the Manhattan Project, became known after the end of the war as Northern New Mexico’s role in this national defense effort became clear. The bank had been the repository of federal funds directed to the top-secret Los Alamos atomic bomb project.
While some controversy has surrounded the project in the years since, it was a great point of patriotic pride at the time. “Santa Fe and your bank, by a quirk of fortune, were an essential cog in the manufacture of the atomic bomb which brought a sudden end to the war,” the bank president’s report said. “Your bank not only made up the payrolls for Los Alamos, but also provided banking facilities to a large portion of Los Alamos personnel …”
Creating Possibility for the Future as First National 1870, a division of Sunflower Bank, N.A.
First National Bank of Santa Fe was acquired by Strategic Growth Bancorp in 2013, which then merged with Sunflower Bank in 2017. To honor the unique identity of the bank and its history in the region, since that time we have operated as First National 1870 in Albuquerque, Los Alamos and Santa Fe.
In 2020 and 2021, we celebrated the 150th anniversary of the bank, recognizing the December 1870 establishment of its charter and the April 1871 opening of its branch on the Santa Fe Plaza.
We are proud to deliver great solutions to our clients, serving markets with excellence and innovation to promote the financial success of the region. We look forward to serving you today and tomorrow.
Read more about Sunflower Bank's history and services in our First National 1870 communities on the First National 1870 website.