Welcome to the Seaman High School Bank!
One of only a few student-run banks in the world, the Seaman Bank has been providing excellent service to staff and students for over 80 years.
Mr. Kevin Hoffmans
Sponsor
President
Vice-President of Operations
Vice-President of Marketing
Vice-President of CustomerRelations
Vice-President of Technology
Vice-President of Administration
Junior Partners
Bank History
1927-1959
The Seaman High School bank has been in operation since 1927. Mr. Fred A. Seaman was the founder of the bank; however, he turned the authority of the bank over to Mr. Charles "Chuck" D. Logan.
An article written in 1928 concerning the bank stated: "The Seaman Bank has been operating six months. From an enrollment of 250 students, deposits aggregating $2,100 have been received. Students may borrow from the bank and have borrowed in amounts from $0.25 to $10.00"
Mr. Logan continued as the sponsor of the bank; but when he became principal of the high school in 1931, he appointed Ms. Eunice Ward to be in charge of the bank. During these years the bank continued to grow even through the depression. It was during this time that the bank lost its only loan. Legend has it that the money, $5, was used to purchase a marriage license.
As all other banks did in 1933, the Seaman Bank closed for three days in accordance with the President's proclamation.
The Seaman Bank moved to the new high school at 1124 West Lyman in 1954. By this time the bank was doing an annual business of $35,000.
1960-1976
In 1960, the bank was recognized as a school class called "Money and Banking." Until this time, the students received no credit for working in the bank as it was an extra-curricular activity.
The high school converted to a three-year school in 1963 and the freshmen moved to the new junior high. This seemingly had no major effect on the assets of the bank although enrollment dropped from 600 to around 400. The bank continued to expand and improve its services each year.
In May 1965, Ms. Ward retired after 34 years as the bank sponsor. Mrs. Dorothy Woodburn became a sponsor in 1965 and served in that capacity.
The assets of the bank were in excess of $15,000 during this time, and there were approximately 135 student accounts.
The Seaman Bank received its one-millionth dollar in deposits on September 12, 1967.
On August 31, 1970, the bank opened for business in the new high school building. The bank was furnished with paneled walls, carpeting, marble, and leather Formica teller stations and walnut furniture. New checks of standard size were designed and put into use. Two cashier teller stations and, for the first time, a loan department window was designed in the new bank. Interest rates on loans were raised from 6% to 8%.
1977-2015
The Seaman High School Bank celebrated its 50th year on May 11, 1977. In honor of its 50th year of operation, Mr. Carl Bowen, executive vice-president of the Kansas Banker's Association, presented the Seaman Bank with a certificate of recognition on June 30, 1977.
On October 24, 1980, the Seaman Bank received its two millionth dollar in deposits. In February of 2012, the Seaman Bank reached new heights, obtaining their ten millionth dollar in deposits.