James Stuart, the patriarch of a prominent Lincoln family and
owner of regional broadcasting and financial services networks for a
generation, died Tuesday at age 95.
Stuart owned the National
Bank of Commerce, which became a statewide network of banks, and Stuart
Broadcasting, among other investments. His family's name was on the
Stuart Theater in the Stuart Building, now University Towers, at 13th
and P streets.
A graduate of Lincoln High School and the
University of Nebraska, Stuart was of a generation of local businessmen
who went to school, went to war, came home, raised families and devoted
enormous time and energy to a vast array of business and community
endeavors.
Stuart began his business career Jan. 1, 1941, with
Stuart Investment Co. in the Stuart Building -- often called Lincoln’s
first skyscraper -- built by his father, Charles Stuart, in 1928.
From 1942 to 1945, he served in Europe during World War II and was discharged as a captain.
At
first, he specialized in property and casualty insurance, and his
insurance office operated until 1982. He gave a portion of the Stuart
Building to the University of Nebraska Foundation in 1977, and the
remainder to the Lincoln Foundation in 1985.
Stuart expanded his
investments from real estate and insurance companies to building a radio
broadcasting network. Beginning with the original ownership of Cornbelt
Broadcasting Corp., KFOR and later KFRX in Lincoln, he bought stations
in Grand Island; Salina, Kan.; Sioux City and Oelwein, Iowa; and
Springfield, Ill.
Roger Larson, who now has a building named after
him across P Street from what was the Stuart Building, worked for
Stuart as general manager of KFOR, although indirectly because Dick
Chapin ran the broadcast operation.
"I considered him a real
friend and respected him as a good businessman. When his father died,
the estate was sort of split between him and brother Chick.
"Jim
went into the radio business, and hired Dick, which was one of the best
things he ever did, because Dick built the company into one of best
radio operating companies in the country.
"He had confidence in
the people he hired and let them do what they wanted to do. … It was a
wonderful place to work, and you felt you were not only doing good work,
but working for the community. That was one of the things he was
interested in."
Stuart acquired controlling interest in what
became the National Bank of Commerce in the 1960s. Its holding company,
First Commerce Bancshares, owned NBC and, later, banks in Grand Island,
Hastings, West Point, Kearney, North Platte, McCook and Colorado
Springs, Colo. The family sold First Commerce Bancshares in 2000 to
Wells Fargo. First Commerce, with total consolidated assets of $3.9
billion, was the third-largest commercial banking organization in
Nebraska at the time, with deposits of $1.8 billion, representing about
6.6 percent of state deposits.
Stuart's grandson, Lee, has revived
the NBC brand and family banking business with his leadership and
investment in the Nebraska Bank of Commerce.
James Stuart's
participation in other business ventures was extensive, from serving as a
trustee of Bankers Life Nebraska to board membership of the Keebler Co.
and Apache Corp.
Stuart's leadership and participation in
community organizations and philanthropy ranged from the Lincoln Chamber
of Commerce to the University of Nebraska and beyond. He was Lincoln’s
Outstanding Young Man of 1952, and received an honorary doctorate from
the university in 1990.
An avid outdoorsman, he was devoted to
Ducks Unlimited. He is in the Nebraska Skeet Shooting Association’s Hall
of Fame, having won nine state championships.
Stuart served on
the Lincoln school board and on the Nebraska Game and Parks commission.
He was a lifetime member of First-Plymouth Church and served on its
board of trustees.
Visitation will be Friday, 6-8 p.m., at Roper
and Sons, 4300 O St. Funeral services will be at 10 a.m. Saturday at
First-Plymouth.