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William Boyd Barnett opened the Bank of Jacksonville in 1877, the first institution of what would later become known as Barnett Banks. Barnett and his two sons built a successful family business, and their bank played a part in a number of historically significant events, from the financing of the Disston land purchase that solidified the state's finances in the 1880's to the rebuilding of Jacksonville after the destructive 1901 fire. Over the course of its 120-year history, Barnett has maintained a significant presence in Florida's economic development.