Barnet J. Segal of Carmel, the affable and progressive cashier of the Bank of Carmel, was born in New York city, January 31, 1898, and was reared and educated in the state of New Jersey. He attended and graduated from the Bayonne high school, and then became a student in the New York University; while later he benefited by the excellent courses in the Pace Institute of New York city, pursuing an accounting training. Following that experience, he was associated with various banks in New York and New Jersey. At the call for service during the World war he went to a training camp in New York, and there, getting ready for still more difficult service, he was active at the time of the signing of the armistice.
In 1920 Mr. Segal came to California, and almost immediately went to Los Angeles where he joined the staff of the Los Angeles Trust & Savings Bank, (now the Pacific Southwest Trust & Savings Bank) and was assigned to their Glendale branch, as escrow clerk; later he went to Visalia as accountant and auditor with the Central Counties Gas Company. In 1922, however, he removed to Monterey, where he associated himself with the Bank of Monterey, now the Bank of Italy, and later he was employed in the First National Bank of Monterey. In 1923 he came to Carmel and organized the Bank of Carmel, secured the state charter for the bank, and associated himself with stockholders, all of whom are residents of Carmel and Monterey, so that the citizens may justly take pride in the undertaking as a decidedly local institution reflecting the highest credit on all concerned.
As a matter of fact, the bank, the first and only one in Carmel, has established new values for Carmel real estate, and it has been a large factor in the upbuilding and the advancement of the town. It was incorporated on May 21, 1923, and opened its doors for business on the 25th of July of the same year. It occupies a building of its own oil Ocean avenue, a structure attractive in design and appointments, and these outer features are but symbols of the real things for which the bank stands. The bank started with a capital of twenty-five thousand dollars, which has since been increased to fifty thousand dollars. The officers are : T. A. Work, president; C. 0. Goold, vice president; Barnet J. Segal, cashier, and C. L. Berky, assistant cashier. Every other person in Carmel is a depositor—such is the wonderful growth of the bank within the first year.
Mr. Segal is a member of Monterey Post No. 41, of the American Legion, and also belongs to Elks Lodge No. 1298, of Visalia.
Source: History of Monterey and Santa Cruz Counties, California : cradle of California’s history and romance : dating from the planting of the cross of Christendom upon the shores of Monterey Bay by Fr. Junipero Serra, and those intrepid adventurers who accompanied him, down to the present day. Chicago: S.J. Clarke Pub. Co., 1925.