The Watkins National Bank of Lawrence, Kansas was chartered in 1888 and opened for business in the newly completed Watkins building. J. B. Watkins was president of the bank and extensively used its facilities in financing his business activities.

This fact closely tied the fortunes of the Land Mortgage Company to the bank, causing the directors of the Watkins National Bank no small amount of concern. Watkins and his directors were frequently at odds over the level of borrowing done by Watkins and the amount of notes and overdue paper held by the bank. This adversarial relationship existed during most of Watkins' life.

In 1928, the Watkins National Bank concluded a liquidation agreement with the Lawrence National Bank and began the process of closing out its accounts.

Most of the Watkins National Bank materials have been lost. This series is comprised of random papers and the contents of a few safe deposit boxes and correspondence, dating from 1886 to 1929. The minutes and reports of the liquidation committee (1929-1937) are also contained in these papers.