First National Bank, Amherst, MA (Charter 393)

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The hitching posts still put to good use to tie up the horses with wagons that brought farmers in for Christmas shopping the week before Christmas, 1929. The First National Bank of Amherst and a corner of the Jones Library is seen at top right.
The hitching posts still put to good use to tie up the horses with wagons that brought farmers in for Christmas shopping the week before Christmas, 1929. The First National Bank of Amherst and a corner of the Jones Library is seen at top right.

First National Bank, Amherst, MA (Chartered 1864 - Closed (Merger) 1990)

Town History

Amherst (/ˈæmərst/ is a town in Hampshire County, Massachusetts, in the Connecticut River valley. The name of the town is pronounced without the h ("AM-erst") by natives and long-time residents, giving rise to the local saying, "only the 'h' is silent", in reference both to the pronunciation and to the town's politically active populace. The town is home to Amherst College, Hampshire College, and the University of Massachusetts Amherst.

Amherst is part of the Springfield, Massachusetts Metropolitan Statistical Area. Lying 22 miles north of the city of Springfield, Amherst is considered the northernmost town in the Hartford–Springfield Metropolitan Region. Amherst is also located in the Pioneer Valley, which encompasses Hampshire, Hampden and Franklin counties.

When it incorporated, the colonial governor assigned the town the name "Amherst" after Jeffery Amherst, 1st Baron Amherst. Many a colonial governor at the time scattered his name during the influx of new town applications, which is why several towns in the Northeast bear the name.

As of the 2020 census, the population was 39,263, making it the highest populated municipality in Hampshire County (although the county seat is Northampton). The population in 1860 was 3,206, increasing to 5,883 by 1930.

Amherst had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

Signage for Amherst's banks new names, Shawmut Bank of Hampshire County was the First National Bank of Amherst and Heritage Bank was the Amherst Savings Bank. An American Indian is the logo on the Shamut Bank's sign while a tree is used for Heritage Bank.
Signage for Amherst's banks new names, Shawmut Bank of Hampshire County was the First National Bank of Amherst and Heritage Bank was the Amherst Savings Bank.

In December 1864, the First National Bank of Amherst reported its plan to double its capital to $200,000. The savings bank at Amherst authorized by the last legislature organized with the following officers: Charles Adams, president; George Cutler, secretary, and S.C. Carter, treasurer.

In January 1866, the following persons were chosen as directors of the First National Bank of Amherst: L.M. Hills, G.T. Westcott, E.D. Williams, A.C. Marshall, Calvin Bridgman, Rufus Cook, and Edward Hitchcock.

On July 1, 1982, Amherst Savings Bank merged with Heritage Bank for Savings and spent six months trying to change its name. The estimate was the name change cost between $50,000 and $100,000 for everything from stationary, envelopes, business cards, deposit slips, passbooks, checks to signage and promotional materials.

On May 3, 1982, The First National Bank of Amherst changed its name to Shawmut Bank of Hampshire County, National Association (NA). Local residents had to contend with numerous bank title changes. The First National Bank of Easthampton became the Bay Bank First Easthampton and then just Bay Bank First. Northampton residents saw the historic Northampton National Bank building altered with a modern blue and white sign with Multibank National of Western Massachusetts. The Nonotuck Savings Bank became the Nonotuck office of the Springfield Institution for Savings while the Pioneer National Bank Hampshire became the Bank of New England-Hampshire County.

Official Bank Title(s)

1: The First National Bank of Amherst, MA

Bank Note Types Issued

Original Series $1 bank note with pen signatures of William P. Smith, Cashier and L.M. Hills, President.
Original Series $1 bank note with pen signatures of William P. Smith, Cashier and L.M. Hills, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1882 Brown Back $50 Proof. The postal location uses a long s in Mass, which looks like a lower case f without the crossbar.
1882 Brown Back $50 Proof. The postal location uses a long s in Mass, which looks like a lower case f without the crossbar. Courtesy of the Smithsonian Institution Archives
1902 Plain Back $20 bank note with printed signatures of H.T. Cowles, Cashier and E.M. Whitcomb, President.
1902 Plain Back $20 bank note with printed signatures of H.T. Cowles, Cashier and E.M. Whitcomb, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $5 bank note with printed signatures of E.W. Elwell, Cashier and E.M. Whitcomb, President.
1929 Type 2 $5 bank note with printed signatures of E.W. Elwell, Cashier and E.M. Whitcomb, President. Courtesy of Heritage Auctions, www.ha.com

A total of $4,637,080 in National Bank Notes was issued by this bank between 1864 and 1990. This consisted of a total of 577,937 notes (508,360 large size and 69,577 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
Original Series 3x1-2 1 - 2100
Original Series 4x5 1 - 4550
Original Series 3x10-20 1 - 4200
Series 1875 4x5 1 - 1250
Series 1875 3x10-20 1 - 2398
1882 Brown Back 4x5 1 - 13784
1882 Brown Back 3x10-20 1 - 10912
1882 Brown Back 50-100 1 - 240 Long "s" in postal location*
1902 Red Seal 4x5 1 - 8000
1902 Red Seal 3x10-20 1 - 6000
1902 Date Back 4x5 1 - 14750
1902 Date Back 3x10-20 1 - 9100
1902 Plain Back 4x5 14751 - 45990
1902 Plain Back 3x10-20 9101 - 27786
1929 Type 1 6x5 1 - 5726
1929 Type 1 6x10 1 - 3114
1929 Type 1 6x20 1 - 816
1929 Type 2 5 1 - 6010
1929 Type 2 10 1 - 4491
1929 Type 2 20 1 - 1140
  • See Huntoon, Peter, Chapter L21, "The Long "s" in National Bank Title Blocks," The Encyclopedia of U.S. National Bank Notes.

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1990):

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

  • Amherst, MA, 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
  • Gazette and Courier, Greenfield, MA, Mon., Dec. 26, 1864.
  • Gazette and Courier, Greenfield, MA, Mon., Jan. 15, 1866.
  • The Boston Globe, Boston, MA, Sat., Dec. 28, 1929.
  • Daily Hampshire Gazette, Northampton, MA, Tue., Mar. 12, 1985.