San Bernardino County history: Bank of San Bernardino

"San Bernardino County Update", yellow arrowhead and "SBCounty.gov

A black and white photo of buildings, including a drug store, hardware shop and an Arcade Hall. People are gathered on the sidewalks and balconies. — *Lewis Jacobs’ San Bernardino store.*

This is the story of Lewis Jacobs, who helped establish one of the first small businesses in San Bernardino County. In 1850, he came to Northern California during the Gold Rush. He later moved to Los Angeles and then walked more than 50 miles to San Bernardino.

Jacobs sold small sewing supplies door to door. These items included threads, pins and marking pens. Many settlers in the San Bernardino Valley had little to no money so Jacobs accepted goods instead of cash.

In 1874, Jacobs opened a business that combined a general store and a bank. He named it the Bank of San Bernardino. The business was located on the west side of what is now Arrowhead Avenue, just south of Fourth Street in San Bernardino.

The bank became the first in California east of Los Angeles. It played a significant role in developing major infrastructure within the Inland Empire. Through loans, his bank supported the growing citrus and railroad industries. He also helped fund the conversion of San Bernardino’s horse-drawn streetcar line to electric power. In addition, the bank provided early funding for the development of the town of Redlands.

In early 1900, Jacobs faced declining health and turned over the operation of the bank to his son-in-law, Oscar Newburg. Newburg had previously served as mayor of San Bernardino from 1889 to 1891 and as a county supervisor from 1895 to 1899. He managed the bank until it closed in 1910.

Additional County Update News – March 26, 2026