National Bank of Rolla and Hotel Edwin Long Building (Phelps County Bank)

This historic building was the home of the National Bank of Rolla when it was completed in 1931 and was later home to the Rolla State Bank and Phelps Bank. The National Bank of Rolla decided to construct this building during the economic boom years of the late 1920s, one of several construction projects that coincided with the arrival of Route 66 in Rolla. Anticipating more travelers, the building was also home to Hotel Edwin Long. The Great Depression took a heavy toll on the banking sector and within one year of the building's opening, the bank folded. Rolla State Bank took over the space from 1931 to 1951, followed by Phelps County Bank..The hotel, visited at times by famous guests, operated until 1971. Phelps purchased the entire building by 1977 and continues to own the building as of 2021.

The four-story National Bank of Rolla Building and historic Edwin Long Hotel survive as one of the downtown area's most prominent historic commercial buildings. Commissioned in the boom years of the late 1920s, the bank opened in 1931 as the home to both the hotel and bank. The hotel opened in the same year that Route 66 came into town and in the years that followed, Hollywood stars and a President Harry S. Truman stayed at the hotel. Though the hotel eventually closed, the building has operated as a bank nearly continuously since its opening even though the original bank closed in the same year it opened.

Rolla is the county seat of Phelps County, organized in 1857 (from Crawford County), derives its name from John F. Phelps, a Missouri congressman and governor. Rolla was platted in 1859 to serve as the county seat. The establishment of the St. Louis and San Francisco Railroad, which came to the area in the mid-1850s, proved significant in creating both Rolla and Phelps County. Rolla sits roughly halfway between St. Louis and Springfield on that rail line, and by 1931, the once-significant Route 66 also ran through town.

The National Bank of Rolla emerged in 1871, acted as the town's only bank for several decades, and stood as the most prominent institution for most of its history. In 1929, the National Bank of Rolla reached the pinnacle of its growth after acquiring its nearest competitor, the Merchants & Farmers Bank (founded in 1905). The purchase increased the bank's capital to more than $1.3 million (worth $20 million in 2021). As a result of its growth, bank executives planned to construct a new headquarters -- the historic bank and hotel building sat adjacent to the St. Louis and San Francisco rail corridor. 

Unfortunately, the 1929 stock market crash occurred a mere twenty days after the merger. Few, if any, expected the crash to lead to a decade-long economic depression, so construction continued as planned. Builders laid the cornerstone in 1930 and designed to open the bank in conjunction with Route 66's completion in Rolla in 1931. As well, builders rushed to finish the Edwin Long Hotel inside the new building just in time for opening the historic road. The famed early transcontinental highway (authorized by Congress in 1926) connected Chicago to California and served as an essential early element of the National Highway System. Indeed, the arrival of Route 66 to Rolla was met with great fanfare, and the bank helped residents celebrate the road's official opening. An estimated 8,000 people attended a ceremony near a grandstand in front of the bank occupied by several state dignitaries. 

The National Bank of Rolla formally opened for business a few weeks after the 1931 celebration, along with the hotel and Edwin Long Coffee Shop. But in less than one year after opening, the National Bank of Rolla became one of 560 Missouri banks (and 39 national banks in the state) to close between 1930 to 1933. The Rolla State Bank took over the building space after the National bank failed and remained the only bank in the community until 1951. While operating as the Rolla State Bank, the building enjoyed its greatest prosperity during the post-World War II economic boom. 

The arrival of Route 66, and the town's overall growth, inspired the bankers to include a hotel operation in the new building. They named the hotel after Edwin Long, a successful banker and former mayor. He was the only adult son of A. S. Long, who moved to Rolla about the time the town was founded and did very well in the mercantile and banking business of the new community. A. S. Long was for many years the president of the National Bank of Rolla and spent many others as a director and stockholder. Edwin took over the mercantile business after his father's death and continued to be active in banking. He and his father were both major shareholders (and possibly involved in the founding) of the Merchants and Farmers Bank. Edwin Long's sons inherited their father's business interests and personal fortune, and both were on the board of directors of the National Bank when the new building was under construction; the hotel operation used that title throughout its existence. 

In January of 1933, the Rolla State Bank declared a thirty-day banking suspension before opening with restricted withdrawals and a limited operating system developed by the State Finance Commission. That short holiday proved effective, and on March 16, the Rolla State Bank opened under the new state and federal regulations. The Rolla State Bank fully moved into the historic bank and hotel building by 1937, and they remained there until 1962. 

In 1963, the newly founded Phelps County Bank (PCB) moved into the comer banking room and eventually purchased the entire building. The Phelps County Bank gradually remodeled and took over the old hotel spaces, and today (2021), they occupy all except the fourth floor, which has been gutted and is used for bank storage. It was under PCB ownership that the drive-through was added in the late 1980s. In 1987, Phelps undertook a substantial renovation and restoration of the original banking space. The Phelps County Bank had the distinction of operating as a community bank, completely employee-owned (an employee Stock Ownership Program (ESOP) in the mid-1980s). By 1993 the ESOP bought out the last of the privately held bank stock and today, the bank still operates as a community bank owned by the employees through the ESOP. 

The Edwin Long Hotel featured sixty-five guest rooms and served Rolla from 1931 to 1971. Over the years, several famous people stayed at the hotel, including President Truman and Marilyn Monroe. By 1971, the hotel was outdated and in disrepair, forcing it to close. In late 1977, with the hotel rooms vacant, the Phelps County Bank purchased the entire building. The bank's presence has ironically preserved the building's history, which involves the rise and fall of an abundance of banks before and after 1929 -- the onset of the Great Depression. Furthermore, the building survives as a reminder of the significance of Route 66 during the mid-twentieth century. 

"Historic Roots on Route 66." Phelps County Bank. Accessed November 19, 2021. https://www.mypcb.com/favorite-add-ons.

Sheals, Debbie. "Nomination Form: National Bank of Rolla Building." National Register of Historic Buildings. archives.gov. 2001. https://catalog.archives.gov/OpaAPI/media/63819947/content/electronic-records/rg-079/NPS_MO/01001380.pdf.

Sheeley, Anrew. "Historic Sites of Phelps County: Phelps County Bank (former National Bank of Rolla/ Hotel Edwin Long)." Phelps County Focus. phelpscountyfocus.com. May 10, 2021. https://www.phelpscountyfocus.com/the_focus_insider/article_f5b8a120-a138-11eb-ad07-6342910dc1fa.html.