........ In 1926 the National Bank of Arizona became known as the First
National Bank. Nine years later it was merged with the Phoenix National
Bank, adopting its present name. Purchase of the Tempe National Bank, the
Miners and Merchants Bank of Bisbee, and the Phoenix Savings Bank &
Trust Company and merger with the Bank of Arizona completed the present
A larger bank, with greater resources, was needed for the greater
demands of Arizona's phenomenal expansion. Today, First National Bank of
Arizona, with total resources exceeding $400,000,000.00, is the second
largest bank in the entire Rocky Mountain· region.
Today the abacus and the gold scale are museum relics, reminders of the
traditional employment of whatever was best and most useful at any period
Modern banking is characterized by the same courtesy that was a
cornerstone of the original friendly, neighborhood bank. But efficiency in
keeping with modern business demands and continued growth has made the
GEEP Center the heart of bank bookkeeping and accounting.
The GEEP is the General Electric Electronic Processor, a complex device
that performs accounting steps far beyond any individual's ability..
This computer system is capable of making one million arithmetic
computations every minute. .
The magnetic tape units read and write at speeds of 30,000 numeric
characters per second - faster than 60,000 nimble-fingered clerks· each
provided with an abacus.
It is capable of such fantastic speed that the computer can add 15,000
six-digit numbers in less than one second.
But all through this evolution from abacus to computer the keystones of
First National banking have not changed. The human elements of personal
attention and personal courtesy remain the guideposts of the bank. ' Now
the First National Bank of Arizona has more than 70 offices to service the
financial demands of nearly 1˝ million residents. The most important
tools are still the ones used in 1877 when First National was established
with a paid-in capital of $25,000.00 . . . trust and confidence, security
(a section from Bert Fireman's article "Keystone in the
progress of the Territory... the human element!" that appeared
in Arizona Days and Ways Magazine Feb. 11, 1962 for the 50th
anniversary of Arizona's statehood)