Banking and the Federal Reserve
Oklahoma City Branch
When the Federal Reserve Act of 1913 passed through Congress, it created twelve Federal Reserve districts. In each of these districts there was one Federal Reserve Bank and as many branch banks as needed. The Federal Reserve Bank of Kansas City is the seat of the tenth Federal Reserve district, which includes all of Oklahoma. Many communities in the tenth Federal District called for a branch office. The Federal Reserve decided to open branch offices in Omaha, Denver, and Oklahoma City.
The Oklahoma City branch office opened on August 2, 1920. It was located inside the Continental Building on Second Street and Broadway. In 1921, the bank moved to its permanent location on Third Street (today Dean A. McGee Avenue) and Harvey, paying $65,000 for the property. The first portion of the Oklahoma City branch office was finished in 1923. There was an addition added to the building in 1958. The Daily Oklahoman called the building "a financial rock of Gibraltar."
The Federal Reserve Branch Bank of Oklahoma City has many goals and objectives. The Oklahoma City Branch provides economic education, regulates and oversees the operations of banks in the southern part of the Tenth District, and serves as a place for members of the local community to share insight about local economic issues.
This is a photo of the property at Third and Harvey before the bank was built (image courtesy of the Federal Reserve Bank of Kansas City).
This is a photo of the original Oklahoma City Branch office, built in 1923 (image courtesy of the Federal Reserve Bank of Kansas City).
This is a photo of the Oklahoma City Branch office shortly after its addition was completed in 1958 (image courtesy of the Federal Reserve Bank of Kansas City).