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The
computer center will be used by First National during night-time hours. General Electric
will use the system during daytime operations for customer training and
programming, service and sales demonstrations. Heart
of the new electronic bookkeeping system is a character reader which
translates Arabic numbers and symbols printed in magnetic ink. The
numerals are both eye-readable and machine-readable. They are printed in a
stylized font - Font E-13B developed
by General Electric's Computer Department and standardized by American
Bankers Association. Bank
customers have been issued personal check and deposit slips imprinted in
magnetic ink across the lower edge. The checks are similar in appearance
to conventional checks, with exception of the magnetic-ink characters. The
magnetic characters indicate the depositor's account number, bank branch
and other accounting information. When a customer writes a check on the
bank, he writes the amount in regular ink, per the usual custom. When the
check arrives at the bank for processing, the amount is imprinted in
magnetic ink by an encoding machine. From then on, it is handled by the
computer controlled system, even to printing transactions on monthly
statements. The
computer system permits direct reading of checks and deposit slips. Thus,
no costly and time-consuming translation is required to transfer
information onto punched cards or tape. Essentially,
the all-transistorized GE-210 system now used by First National comprises
document handlers, an electronic computer to control the entire system,
control console, tape units for storing information, a printer and other
input and output accessories. The printer, through directions from the
computer, prepares customer and branch-bank statements at 900 lines per
minute, or about 50 complete statements per minute. Hammond Collection at SMECC
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First National Bank of Arizona - Bert
Fireman
........ 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 banking structure. 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 of time. 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 and service. (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)
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First National Bank of Arizona From Bank Notes A privately printed book by the bank on their history. It is # 565 of a special gift edition of 1000 in the SMECC Library. Note that the text in this book though brief is in error. The book shows these pictures and claim the data center employs 650 people. That might have been true in 1971 when this book was published but not during the early 60s when the GE 210 was online. |
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Click to see a very large 1 meg picture file
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Click to see a large picture file |
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are these people? Models? GE Employees? Bank employees?
Will we ever know?
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Officials of First National Bank of
Arizona tryout their new General Electric 210 information processing
system on the curb during delivery of computer to the Bank's new data processing
site. First National is expected to be the nation's first bank to be fully
operational with this type of equipment.
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©APRIL, 1961 Arizona Engineer and Scientist - The Hammond Collection at SMECC
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