First National Bank, Catawissa, PA (Charter 4548)
First National Bank, Catawissa, PA (Chartered 1891 - Closed (Merger) 1980)
Town History
Catawissa is a borough in Columbia County in east-central Pennsylvania. The area around Catawissa was originally owned by William Henry in 1769. Catawissa was laid out in 1787 and at the time was referred to as "Hughesburg" or "Catawissey". The town is on the southeast side of the North Branch of the Susquehanna River about 5 miles south of Bloomsburg.
During the National Bank Note Era (1863-1935), the population of Catawissa was 1,427 in 1880, growing to 2,023 in 1930. Its highest population was 2,053 in 1940, and the population as of the 2020 census was 1,539.
Catawissa had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized March 26, 1891
- Chartered April 10, 1891
- Succeeded Catawissa Deposit Bank
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Closed (Merger) without government assistance September 20, 1980
In April 1956, by an almost unanimous vote of the stockholders, the merger of the Catawissa National Bank and the Valley National Bank, Numidia, was approved. The two organizations would consolidate on the close of business April 26. Capitalization of the new institution was $125,000, consisting of 12,500 shares of stock with a par value of $10 per share. Surplus and undivided profits were $230,000 and total resources were $3,600,000.[1]
On Friday, September 19, 1980, mergers of South Side National Bank, Catawissa, and North Scranton Bank and Trust Co., Lackawanna County, with First Eastern Bank, N.A., headquartered in Wilkes-Barre became official at the close of business. The combined assets of the three institutions amounted to approximately $800 million. First Eastern was ranked as the 233rd largest commercial bank in the United States in terms of deposits. With the merger, First Eastern gained five new banking locations, bringing the number of offices throughout Columbia, Luzerne, Lackawanna and Monroe Counties to 33. South Side National had two offices in Catawissa and one in Numidia, while North Scranton Bank had an additional office in Throop. South Side National Bank was the result of a merger in 1956 between Valley National Bank of Numidia and Catawissa National Bank. That bank merged in 1966 with First National Bank of Catawissa to become South Side National Bank.
North Scranton Bank was chartered in 1901 and began business in the auditorium, later the Rialto Theatre at 1823 North Main Avenue. In 1903, the Mulley Building at 1902 North Main Avenue was destroyed by fire and in 1904 the bank purchased that lot. A new building was constructed there in 1905 which met the banking requirements until 1926. when an adjoining lot was purchased and construction began. Additional lots were purchased in 1957 and a drive-in window was added in 1958. The Throop office was constructed 10 years later.[2]
Official Bank Title
1: The First National Bank of Catawissa, PA
Bank Note Types Issued
A total of $1,332,920 in National Bank Notes was issued by this bank between 1891 and 1935. This consisted of a total of 179,044 notes (153,940 large size and 25,104 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 4x5 1 - 12465 1882 Brown Back 3x10-20 1 - 2574 1882 Date Back 4x5 1 - 1350 1882 Date Back 3x10-20 1 - 1049 1902 Date Back 4x5 1 - 2650 1902 Date Back 3x10-20 1 - 2120 1902 Plain Back 4x5 2651 - 12370 1902 Plain Back 3x10-20 2121 - 8677 1929 Type 1 6x5 1 - 2004 1929 Type 1 6x10 1 - 974 1929 Type 1 6x20 1 - 284 1929 Type 2 5 1 - 3540 1929 Type 2 10 1 - 1596 1929 Type 2 20 1 - 396
Bank Presidents and Cashiers
First National Bank Presidents and Cashiers during the National Bank Note Era (1891 - 1936):
Presidents:
- Dr. Jacob Hursh Vastine, 1891-1903
- Solomon Dyer Rinard, 1904-1910
- James Turner Fox, 1911-1932
- Clarence Elmer Kreisher, 1933-1935
Cashiers:
- George Miller Tustin, 1891-1892
- Abraham Lincoln Tustin, 1893-1893
- William Mayberry Vastine, 1894-1934
- Harry Elmer Rau, 1935-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Catawissa, 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