Farmers National Bank, Beaver Falls, PA (Charter 4894)

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Postcard view of Beaver Falls and the Farmers National Bank ca1930s.
Postcard view of Beaver Falls and the Farmers National Bank ca1930s. Courtesy of Heritage Auctions, www.ha.com

Farmers National Bank, Beaver Falls, PA (Chartered 1893 - Open past 1935)

Town History

The Farmers National Bank ca2020, Beaver Falls, Pennsylvania.
The Farmers National Bank ca2020, Beaver Falls, Pennsylvania. Courtesy of Google Maps

Beaver Falls is a city in Beaver County, Pennsylvania. It is located 31 miles northwest of Pittsburgh, and on the Beaver River, six miles north of its confluence with the Ohio River. Joe Namath, Hall of Fame American Football League and National Football League quarterback is from Beaver Falls. The population was 9,005 at the 2020 census. In 1950 the population peaked at 17,375 and has declined since which is attributable to its location in the Rust Belt.

The area was originally occupied by Native Americans. In 1792, a law was passed which opened the territory to settlers. Beaver County was established in 1800 from portions of Allegheny and Washington counties. The present day territory of Beaver Falls, which was initially known as "Brighton," was chartered as the Borough of Beaver Falls in 1868. In the 1870s, Beaver Falls was home to a Chinatown and had up to 225 Chinese residents, brought in to work at Beaver Falls Cutlery Company. The city benefited largely from the presence of various transportation routes such as the Beaver and Erie Canal, the Pennsylvania Turnpike, and the Pittsburgh and Lake Erie Railroad.

Beaver Falls had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.

Bank History

  • Organized February 2, 1893
  • Chartered April 1, 1893
  • Bank was Open past 1935

On December 17, 1955, Emil H. Grosglass, a 40 year employee of the Farmers National bank, was sentenced to a year and a day and to pay court costs and make restitution as far as his assets would permit for embezzling $24,000. The method by which Grosglass embezzled money was not determined. An FBI agent said Grosglass had told about six different stories about how he spent the money and all were doubted by the FBI.

Shareholders of the Union National Bank of Pittsburgh and the Farmers National Bank of Beaver Falls approved an agreement to consolidate on November 23, 1959, subject to approval by the Comptroller of the Currency. The total resources of the Union Bank were $124,891,015 and those of the Farmers National were $18,466,805. The Farmers National had offices at Beaver Falls and Koppel. After the consolidation, Union National had a total of seven offices. Stockholders of the Beaver Falls bank received 1.43 shares of Union National stock for each share of Farmers National stock held.

Official Bank Title(s)

1: The Farmers National Bank of Beaver Falls, PA

Bank Note Types Issued

1882 Brown Back $10 bank note with SN 1A and pen signatures of Geo. W. Morrison, Cashier and Frank F. Brierly, President. The plate used to produce Series of 1882 $10s for this bank features the abnormal border variety.
1882 Brown Back $10 bank note with SN 1A and pen signatures of Geo. W. Morrison, Cashier and Frank F. Brierly, President. The plate used to produce Series of 1882 $10s for this bank features the abnormal border variety. Courtesy of Heritage Auctions, www.ha.com
1882 Date Back $20 bank note with stamped signatures of Geo. W. Morrison, Cashier and Frank F. Brierly, President.
1882 Date Back $20 bank note with stamped signatures of Geo. W. Morrison, Cashier and Frank F. Brierly, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note with printed signatures of Walter G. Bert, Cashier and J. Rankin Martin, President. The note also features a courtesy autograph from cashier Walter G. Bert.
1929 Type 1 $10 bank note with printed signatures of Walter G. Bert, Cashier and J. Rankin Martin, President. The note also features a courtesy autograph from cashier Walter G. Bert. Courtesy of Heritage Auctions, www.ha.com

A total of $1,892,330 in National Bank Notes was issued by this bank between 1893 and 1935. This consisted of a total of 152,331 notes (124,712 large size and 27,619 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1882 Brown Back 3x10-20 1 - 3020
1882 Date Back 3x10-20 1 - 4814
1902 Date Back 3x10-20 1 - 3500
1902 Plain Back 3x10-20 3501 - 23344
1929 Type 1 6x10 1 - 3172
1929 Type 1 6x20 1 - 866
1929 Type 2 5 1 - 324
1929 Type 2 10 1 - 2377
1929 Type 2 20 1 - 690

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1893 - 1936):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Beaver Falls, PA, 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://bbdata.banknotehistory.com
  • Pittsburgh Post-Gazette, Pittsburgh, PA, Sat., Dec. 17, 1955.
  • Pittsburgh Sun-Telegraph, Pittsburgh, PA, Tue., Nov. 24, 1959.
  • Beaver Falls, Pennsylvania, Accessed Nov. 26, 2021.
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