Farmers National Bank, Lancaster, PA (Charter 597)
Farmers National Bank, Lancaster, PA (Chartered 1864 - Liquidated 1904)
Town History
Lancaster is a city in and the county seat of Lancaster County, Pennsylvania, and one of the oldest inland cities in the United States. With a population at the 2020 census of 58,039, it ranks 11th in population among Pennsylvania's municipalities. The Lancaster metropolitan area population is 552,984, making it the 104th-largest metropolitan area in the U.S. and second-largest in the South Central Pennsylvania area. In 1860, the population was 17,603 growing to 59,949 by 1930.
The city's primary industries include healthcare, tourism, public administration, manufacturing, and both professional and semi-professional services. Lancaster is a hub of Pennsylvania's Dutch Country.
Lancaster is located 59 miles southwest of Allentown and 61 miles west of Philadelphia. It is a transportation hub with many major roadways passing through or around the city, including US 30, US 222, PA 283, PA 72, and PA 272.
Lancaster was the capital of Pennsylvania from 1799 to 1812, with the state capital located at the Court House (built 1784 and demolished 1852 and now site of Soldiers & Sailors Monument at Penn Square). In 1812, the capital was moved to Harrisburg, where it has remained since. After the American Revolutionary War, Lancaster became an iron-foundry center. Two of the most common products needed by pioneers to settle the Frontier were manufactured in Lancaster: the Conestoga wagon and the Pennsylvania long rifle. The Conestoga wagon was named after the Conestoga River, which runs through the city. The innovative gunsmith William Henry lived in Lancaster and was a U.S. Congressman and leader during and after the American Revolution. The city of Lancaster was home to several important figures in American history. Wheatland, the estate of James Buchanan, the fifteenth President of the United States, is one of Lancaster's most popular attractions.
Lancaster had seven National Banks chartered during the Bank Note Era, and all seven of those banks issued National Bank Notes.
Bank History
- Organized November 22, 1864
- Chartered December 1, 1864
- Succeeded Farmers Bank
- Liquidated November 22, 1904
- Succeeded by Farmers Trust Company
The Farmers Bank of Lancaster was organized as a State Bank in 1810. It was recognized as one of the strongest, most reliable and conservatively managed financial institutions in Eastern Pennsylvania.
In November 1860, John Landes, Esq., was unanimously re-elected President of the Lancaster County Bank. Christopher Hager, Esq., was also unanimously re-elected President of the Farmers' Bank of Lancaster.
In January 1881, stockholders elected the following directors to serve for the ensuing year: Jacob Bausman, M.N. Brubaker, Wm. D. Sprecher, Alex. Schultz, C.R. Baer, J.P. Wickersham, David B. Landis, Philip Bausman, Danier Heitshu, Levi R. Rhoads, J.W.B. Bausman, Andrew Brubaker and S.M. Seldomridge.
In 1891, directors were Jacob Bausman, S.M. Seldomridge, J.W.B. Bausman, George M. Franklin, Jacob H. Landis, Tobias R. Kreider, Reuben A. Baer, John Geist, Martin P. Swarr, William D. Sprecher, Dr. Brainerd Leaman, Charles F. Hager, Dr. Martin Ringwalt. The officers were Jacob Bausman, president; S.M. Seldomridge, vice president; and C.A. Fon Dersmith, cashier. The bank had capital stock of $450,000, surplus and undivided profits $350,000, and loans and discounts of $1,135,000. Mr. Jacob Bausman was president of the Farmers since 1867 and was for many years before a member of its Board of Directors. Mr. S.M. Seldomridge, the Vice President, was one of the wealthiest men in the county who had devoted a great part of his life to the furtherance of the best interests of the agricultural affairs of the State. He was the owner of several of finest farms in the nation. He was in the general mercantile business at Farmersville and was thoroughly reliable. Mr. C.A. Fon Dersmith, the cashier, first entered the bank as teller in 1869 and remained with it for 13 years when he resigned to accept the cashiership of the newly organized Fulton National Bank of Lancaster in 1882. He remained until the autumn of 1886 when he returned to the Farmers National, accepting the position of cashier. He was a favorite not only with the people at large, but also with the directorship of the bank he served. Business at the Farmers was transacted equally well in English or German.
The bank was almost a fortress in its construction, there being just one entrance to all parts of it. The windows were all heavily barred. The basement was solid masonry and cement and the entire building was as near fire proof as modern science could make it. The main room of the bank was 16 1/2 feet from floor to ceiling and well ventilated and lighted. The clerks were behind a railing about 10 feet high, doubly protected by glass and wire screens. The entire building was devoted exclusively to banking. Two vaults were used, one for banking and the other for safe deposit business. They were both of the famed Hall's Safe and Lock System, having doors weighing about a ton each and further protected by time locks. The vaults were of drill proof metals and cements. To afford perfect protection to the patrons of the bank, two watchmen were on duty continually during the night.
Stockholders elected the following board of directors: J.W.B. Bausman, S.M. Seldomridge, Martin Ringwalt, Henry Bowman, P.T. Watt, Levi R. Rhoads, Samuel L. Levan, J. Harold Wickersham, Christian R. Herr, John Geist, L.R. Reist, Phares, P. Swarr, and H.C. Seldomridge.
On Saturday, March 26, 1904, the charter of the new Farmer's Trust Company was recorded in the Court House and on Monday the new institution began business in the Farmers National Bank building with capital of $255,000. The directors and officers were nearly the same as those of the Farmers National. The officers were J.W.B. Bausman, president; S.M. Seldomridge, vice president; Charles F. Hager, Esq., secretary; Charles A. Fon Dersmith, treasurer; and Walter M. Franklin and William H. Roland, Esqs., solicitors. The directors were J.W.B. Bausman, P.T. Watt, C.R. Herr, S.M. Seldomridge, J.H. Wickersham, Samuel L. Levan, Dr. Martin Ringwalt, Wm. H. Roland, L.R. Reist, Henry Bowman, Chas. F. Hager, John Geist, and Wm. B. Gontner. The Farmers National Bank's charter would expire in November and it would not be renewed. The plan was for the banking institution to be absorbed by the trust company which could reach a wider field of profitable business than the national bank.
Official Bank Title(s)
1: The Farmers National Bank of Lancaster, PA
Bank Note Types Issued
A total of $2,238,350 in National Bank Notes was issued by this bank between 1864 and 1904. This consisted of a total of 169,714 notes (169,714 large size and No small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments Original Series 4x5 1 - 7700 Original Series 3x10-20 1 - 8250 Original Series 3x50-100 1 - 1112 Original Series 500 1 - 64 Series 1875 4x5 1 - 3270 Series 1875 3x10-20 1 - 5240 Series 1875 3x50-100 1 - 1334 1882 Brown Back 4x5 1 - 7050 1882 Brown Back 3x10-20 1 - 7908 1882 Brown Back 50-100 1 - 1097
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1904):
Presidents:
Cashiers:
Other Bank Note Signers
- Samuel M. Seldomridge, Vice President 1887...1904 Signature
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Lancaster (Wikipedia)
- General information on Lancaster County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Lancaster, 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://spmc.org/bank-note-history-project
- The Philadelphia Inquirer, Philadelphia, PA, Thu., Nov. 29, 1860.
- Intelligencer Journal, Lancaster, PA, Wed., Jan. 12, 1881.
- The Semi-Weekly New Era, Lancaster, PA, Sat., June 6, 1891.
- The Lancaster Examiner, Lancaster, PA, Sat., Jan. 13, 1900.
- The Semi-Weekly New Era, Wed., Mar. 30, 1904.
- Intelligencer Journal, Lancaster, PA, Sat., Apr. 23, 1904.