First National Bank, Harrisonburg, VA (Charter 1572)

The old First National Bank of Harrisonburg, Virginia, ca2022. Courtesy of Google Maps

First National Bank, Harrisonburg, VA (Chartered 1865 - Closed (Merger) 1970)

Town History

The Bank of Rockingham, Haxby VA-100, $10 obsolete bank note with pen signatures of C.C. Strayer, Cashier and A.B. Irick, President, dated January 1, 1859. The central vignette depicts a farm scene with a woman feeding various fowl and a maid milking a cow. At left is the state seal with Secured by Pledge of State Securities and at right is a locomotive. Courtesy of Heritage Auctions

Harrisonburg is an independent city in the Shenandoah Valley region of the Commonwealth of Virginia. It is also the county seat of the surrounding Rockingham County, although the two are separate jurisdictions. At the 2020 census, the population was 51,814. The Bureau of Economic Analysis combines the city of Harrisonburg with Rockingham County for statistical purposes into the Harrisonburg, Virginia Metropolitan Statistical Area, which had an estimated population of 126,562 in 2011.

Harrisonburg is home to James Madison University (JMU), a public research university with an enrollment of over 20,000 students, and Eastern Mennonite University (EMU), a private, Mennonite-affiliated liberal arts university. Although the city has no historical association with President James Madison, JMU was nonetheless named in his honor as Madison College in 1938 and renamed as James Madison University in 1977. EMU largely owes its existence to the sizable Mennonite population in the Shenandoah Valley, to which many Pennsylvania Dutch settlers arrived beginning in the mid-18th century in search of rich, unsettled farmland.

Harrisonburg, previously known as "Rocktown," was named for Thomas Harrison, a son of English settlers. In 1737, Harrison settled in the Shenandoah Valley, eventually laying claim to over 12,000 acres situated at the intersection of the Spotswood Trail and the main Native American road through the valley. In 1779, Harrison deeded 2.5 acres of his land to the "public good" for the construction of a courthouse. The Rockingham County Court House was listed on the National Register of Historic Places in 1982.

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

Bank History

Organized August 12, 1865
Chartered September 29, 1865
Succeeded Bank of Rockingham
Bank was Open past 1935
For Bank History after 1935 see FDIC Bank History website
Merged into Virginia National Bank in Norfolk, VA, March 16, 1970

On January 21, 1854, the Citizens’ Bank of Virginia, to be located at Harrisonburg, was formally organized by the election of the following Directors: A.B. Irick, Peter Heneberger, Jacob Strayer, H.B. Harnsberger, John H. Hopkins, Wm. G. Stevens, F. Pence, M.H. Effinger, and E.T.H. Warren. A.C. Bryan was unanimously elected a director, but declined, and Jacob Strayer, Esq., was elected to take his place. In the evening the Directors proceeded to the election of officers of the bank and the following gentlemen were chosen: A.B. Irick, president; C.C. Strayer, cashier; and A.E. Heneberger, clerk and teller. The salary of the president was fixed at $600, that of the Cashier at $800, and that of the Clerk and Teller at $600. After the election of Directors, it was determined to change the name of the Citizens’ Bank to that of Rockingham, and a committee was appointed to ask the Legislature to change the name accordingly. Upon the proposition to change the name of the bank, an animated and good-natured excitement took place, the stockholders voting between the names “Bank of the Tenth Legion” and the “Bank of Rockingham.” We cast our votes for the “Tenth Legion,” but Rockingham beat us a few votes. The Bank will go into operation late in March or early in April. Rock. Register

The statement of condition as of October 1, 1855, listed $268,380 in Virginia Stocks and Guaranteed Bonds, Bills and Notes discounted $188,074.81, Capital Stock of $212,100, Deposits $67,502.81, and Notes in Circulation, 5s, 10s, 20s, and 50s of $230,320. C.C. Strayer was cashier and directors attesting to the correctness were A.B. Irick, M. Harvey Effinger, Wm. G. Stevens, H.B. Harnsberger, and Peter Heneberger.

On Saturday, January 14, 1860, stockholders elected the following gentlemen as directors of the Bank of Rockingham: A.B. Irick, Peter Heneberger, Wm. A. Conrad, Henry Ott, A.W. Brown, John H. Hopkins, G.M. Effinger, E.T.H. Warren and John R. Koogler. There was no change in the board with the exception of Mr. Koogler who replaced Mr. RW. Thurmond. A.B. Irick was re-elected president; C.C. Strayer, cashier; and A.E. Heneberger, clerk and teller. The salaries of the president and teller were fixed at the former amount of compensation, while the salary of the cashier was increased to $1,800.

In January 1970, Virginia National, the state's largest bank with headquarters in Norfolk, operated 98 offices in 49 communities. It had pending mergers with the First National Bank of Harrisonburg which would add three offices in that community and with Merchants and Farmers Bank of Smithfield which would add an additional office in that southside community. On June 30, 1969, the bank ranked 77th in size among the more than 13,000 commercial banks in the nation. Virginia National was formed in 1963. It reported net operating income after taxes of nearly $8 million, up 11.8% from 1968.

Official Bank Title(s)

1: The First National Bank of Harrisonburg, VA

Bank Note Types Issued

1902 Date Back $10 bank note with a penned signature of C.H. Chandler, Cashier and a stamped signature of L.C. Myers, President. Courtesy of Heritage Auctions, www.ha.com

1902 Plan Back $10 bank note with a radar SN and stamped signatures of J.G. Yancey, Jr., Cashier and W.L. Dechert, President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 2 $20 bank note with printed signatures of William H. Byrd, Cashier and W.L. Dechert, President. Courtesy of Heritage Auctions, www.ha.com

A total of $3,689,050 in National Bank Notes was issued by this bank between 1865 and 1970. This consisted of a total of 306,906 notes (264,616 large size and 42,290 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 - 4250
Original Series	3x10-20	1 - 2175
Series 1875	3x10-20	1 - 1131
1882 Brown Back	3x10-20	1 - 5495
1902 Red Seal	3x10-20	1 - 3000
1902 Date Back	3x10-20	1 - 13900
1902 Plain Back	3x10-20	13901 - 50103
1929 Type 1	6x10	1 - 4426
1929 Type 1	6x20	1 - 1130
1929 Type 2	10	1 - 7139
1929 Type 2	20	1 - 1815

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1970):

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

Harrisonburg, VA, Wikipedia, https://en.wikipedia.org/wiki/Harrisonburg,_Virginia
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
Alexandria Gazette, Alexandria, VA, Tue., Jan. 24, 1854.
Richmond Enquirer, Richmond, VA, Tue., Oct. 30, 1855.
Alexandria Gazette, Alexandria, VA, Sat., Jan. 21, 1860.
The Bee, Danville, VA, Wed., Jan. 7, 1970.
The Roanoke Times, Roanoke, VA, Sat., Mar. 14, 1970.