The First National Bank of Fort Smith was organized February 29, 1872, as "The National Bank of Western Arkansas." A charter was issued by the Comptroller of the Currency, authorizing the bank to commence business on March 22,1872. The Bank was established by Bernard Baer, Logan H. Roots, Richard C. Kerens, Elis S. Mitchell, Dr. E. R.. Duvall, and Arthur Gunther, men familiar with the conditions confronting the town, and with faith in its possibilities and its future. The first large industrial plant to be organized was promoted largely by Bernard Baer and Logan H. Roots, the principal officers and stockholders of the bank. This was the Fort Smith Oil and Cotton Company. Shortly thereafter, Samuel McLoud, George T. Sparks, and James Vaile, who had become identified as Directors in the bank, organized the first large furniture factory to be established here under the firm name of McLoud, Vaile and Sparks.