Citizens National Bank/Citizens NB & TC, Caldwell, NJ (Charter 9612)
Citizens National Bank/Citizens NB & TC, Caldwell, NJ (Chartered 1909 - Open past 1935)
Town History
Caldwell is a borough located in northwestern Essex County, in the U.S. state of New Jersey, about 16 miles west of New York City and 6 miles northwest of Newark, the state's most populous city. As of the 2020 United States census, the borough's population was 9,027. In 1900 the population was 1,367, growing to 2,236 by 1910.
In 1702, settlers purchased a 14,000 acres Horseneck Tract from the Lenape Native American tribe for goods equal to $325. This purchase encompassed much of western Essex County, from the First Mountain to the Passaic River at Pine Brook. Caldwell is located in the center of the Horseneck Tract. Settlement began about 1740 by Thomas Gould and Saunders Sanders. The Horseneck Tract consisted of present-day Caldwell, West Caldwell, North Caldwell, Fairfield, Verona, Cedar Grove, Essex Fells, Roseland, and portions of Livingston and West Orange. This land was part of the larger purchase and had been referred to as the Horse Neck Tract until February 17, 1787, when the town congregation voted to change the name to Caldwell, in honor of the Reverend James Caldwell who pushed for their organization's creation.
Caldwell was incorporated as a borough by an act of the New Jersey Legislature on February 10, 1892, from portions of Caldwell Township (now Fairfield Township), based on the results of a referendum held on the previous day. Grover Cleveland, the 22nd and 24th President of the United States, was born in Caldwell on March 18, 1837. His father, Rev. Richard Falley Cleveland, was pastor of the First Presbyterian Church. The Grover Cleveland birthplace—the church's former manse—is now a museum and is open to the public.
Caldwell had two National Banks chartered during the Bank Note Era, The Caldwell National Bank (Charter 7131) and the Citizens National Bank (Charter 9612), and both of those banks issued National Bank Notes.
Bank History
- Organized November 15, 1909
- Chartered December 18, 1909
- Bank was Open past 1935
- Acquired by National State Bank of Newark (Charter 1452) in January 1957
In October 1909, James S. Throckmorton, Jr., who recently resigned as cashier of the Caldwell National Bank, accepted the position of cashier of the new Citizens National Bank of Caldwell. He was a son of John S. Throckmorton and was previously employed in the Navesink National Bank of Red Bank when it failed.[2] His grandfather, Captain James Sansbury Throckmorton, was president of the Navesink National Bank.
On Tuesday, January 11, 1910, the stockholders elected to following directors: Lewis G. Lockwood, Cyrus B. Crane, Caleb Crane, Frederick L. Baldwin, James S. Throckmorton, Jr., Melvin H. Courter, George H. Vanderhoof, Milton H. Canfield, Clarence E. Hedden, Henry Becker, and William H. Van Wart.[3]
On May 12, 1930, Cyrus Baldwin Crane of 24 Hanford Place, Caldwell, until recently a manager of the Montclair Savings Bank and president of the Citizens National Bank of Caldwell, died at his home following a week's illness. He was born in West Caldwell and attended school at Newark Academy and in Caldwell. He was president of the Caldwell bank for 17 years and manager of the Montclair institution for a number of years. He was chairman of the Caldwell Township Committee at the time when West Caldwell and Caldwell were one township. He was president of the county Board of Agriculture for six years.[4]
In January 1957, the National State Bank of Newark merged with the Citizens National Bank and Trust Company of Caldwell. The bank's new name was National State Bank of Newark, West Essex-Caldwell office. With the acquisition National State's resources were over $300 million and it operated 18 banking offices in Newark, Irvington, Orange, Millburn and Caldwell.[5]
On February 15, 1965, the National State Bank of New Jersey changed its name to First National State Bank of New Jersey. At the annual meeting, the bank's chairman of the board, W. Paul Stillman of Cooney Ter., Fair Haven, told stockholders that the new name more accurately reflected the bank's present and future area of operations. First National State's history stretched back to 1812 when a group of Newark businessmen met in a tavern on Broad Street and organized the State Bank at Newark. Total assets as of the end of 1964 were more than $620 million and capital funds were more than $60 million. In 1949 the bank made the first of a series of mergers which would give it offices all over Essex County (to which New Jersey statute restricted it). In June 1949 it merged with Merchants and Newark Trust Co. In 1950, two more banks were acquired, the Orange First National Bank and the United States Trust Co. in Newark. In 1955 the bank merged with Lincoln National Bank in Newark and in 1956 with the Irvington Trust Company and First National Bank of Millburn. The following year, the Citizens National Bank & Trust Co., Caldwell, was acquired. The last merger took place in 1958 when National State acquired the Federal Trust Co., Newark. This was regarded as the biggest merger in New Jersey banking history. First National State Bank of New Jersey operated 23 offices with more than 1,000 employees.[6]
Official Bank Titles
1: The Citizens National Bank of Caldwell, NJ
2: The Citizens National Bank and Trust Company of Caldwell, NJ (5/28/1927)
Bank Note Types Issued
A total of $742,160 in National Bank Notes was issued by this bank between 1909 and 1935. This consisted of a total of 59,627 notes (45,428 large size and 14,199 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1: 1902 Date Back 3x10-20 1 - 2580 1: 1902 Plain Back 3x10-20 2581 - 9678 2: 1902 Plain Back 3x10-20 1 - 1679 2: 1929 Type 1 6x10 1 - 1428 2: 1929 Type 1 6x20 1 - 450 2: 1929 Type 2 10 1 - 2399 2: 1929 Type 2 20 1 - 532
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1909 - 1935):
Presidents:
- Lewis Grover Lockward, 1910-1912
- Cyrus Baldwin Crane, 1913-1929
- James Sansbury Throckmorton, Jr. , 1930-1935
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Caldwell, NJ, on Wikipedia
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- ↑ The Star-Ledger, Newark, NJ, Fri., Jan. 11, 1957.
- ↑ The Daily Register, Red Bank, NJ, Wed., Oct. 13, 1909.
- ↑ The Star-Ledger, Newark, NJ, Wed., Jan. 12, 1910.
- ↑ The Montclair Times, Montclair, NJ, Wed., May 14, 1930.
- ↑ The Star-Ledger, Newark, NJ, Fri., Jan. 11, 1957.
- ↑ The Daily Register, Red Bank, NJ, Mon., Feb. 15, 1965.