First National Bank, Lakehurst, NJ (Charter 12571)
First National Bank, Lakehurst, NJ (Chartered 1924 - Open past 1935)
Town History
Lakehurst is a borough in Ocean County, New Jersey. Lakehurst was incorporated as a borough by an act of the New Jersey Legislature on April 7, 1921, from portions of Manchester Township, based on the results of a referendum held on May 24, 1921. The borough is named for its location near lakes and woods. As of the 2010 United States Census, the borough's population was 2,654. In 1930 the population was 947.
The community of Lakehurst first reached international fame as a winter resort around the turn of the 20th century, following the opening of the Pine Tree Inn in 1898. The Hindenburg disaster, occurred on May 6, 1937; the German zeppelin Hindenburg arriving from Frankfurt am Main caught fire at the Lakehurst Naval Air Station, which is located in Manchester Township.
Lakehurst had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized April 5, 1924
- Chartered August 8, 1924
- Bank was Open past 1935
On August 8, 1924, a charter was issued to the First National Bank of Lakehurst with $25,000 capital. Fred Forcanser was named as president and William Strickland as cashier.
In January 1928, the following were elected directors: Harold L. Brinley, William H. Cruser, Oscar Downs, Ernest W. Eltinge, Fred Forcanser, Percy L. Grover, Edward F. Larrabee, Lloyd C. Lillie, Albert A. LeRoy, William J. Morton, Archie F. Murray, Harry E. Newman, Alex B. Phillips, Fred Poppe, Louis Sauers, Clayton R. Shinn, J.P. Stout, John Thompson and William Wltbur. The officers were: president, Fred Forcanser; vice presidents, Lloyd C. Lillie and Ernest W. Eltinge; and cashier, Reeve M. Van Nostrand.
In January 1945, the directors renamed were William H. Cruser, Fred Forcanser, Edward F. Larrabee, Lloyd C. Lillie, Archie F. Murray, Harry E. Newman, Dr. Harold Pittis, and Reeve M. Van Nostrand. The officers were Fred Forcanser, president; Lloyd C. Lillie and Dr. Harold Pittis, vice presidents; and Reeve M. Van Nostrand, cashier. Deposits at the close of business December 31, 1944 were $950,000.
On March 4, 1947, a plan was announced by Frank W. Sutton, Jr., and Fred Forcanser, presidents of the First National Bank of Toms River and the First National Bank of Lakehurst, respectively, for the sale of the assets of the Lakehurst bank to the Toms River bank; the voluntary liquidation of the Lakehurst bank; and the opening, on or about November 1st, of a branch office of the First National Bank of Toms River in the quarters occupied by the Lakehurst bank. Shareholders of the Lakehurst bank would vote at a special meeting on October 29th. Lakehurst would continue to have uninterrupted banking service. Mr. Sutton announced that if the proposed plan was approved, Reeve M. Van Nostrand, who had served for many years as cashier of the Lakehurst bank, would continue to be in charge of the branch as an officer of the First National Bank of Toms River, and that the other personnel in the Lakehurst bank would continue to be employed. Mr. Forcanser had served continuously as president since it was chartered in 1924. Total resources were $1,444,595.25 as of October 6, 1947. The bank had capital of $50,000 divided into 500 shares of $100 par value.
On November 1, 1947, the Lakehurst bank formally opened as a branch of the First National Bank of Toms River. The acquisition of a second branch increased the assets beyond $20 million for the Toms River bank. Mr. Sutton said that shareholders of the Lakehurst bank would be paid an estimated $150,000 to $160,000 for their equity in the bank. The First National Bank of Toms River opened for business on March 2, 1881. Expansion began September 30, 1944, when the bank merged with Ocean County Trust Company with its branch at Seaside Heights.
Official Bank Title(s)
1: The First National Bank of Lakehurst, NJ
Bank Note Types Issued
A total of $97,020 in National Bank Notes was issued by this bank between 1924 and 1935. This consisted of a total of 13,350 notes (No large size and 13,350 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 1 6x5 1 - 1216 1929 Type 1 6x10 1 - 1009
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1924 - 1935):
Presidents:
Cashiers:
- William Strickland, 1924-1925
- Reeve M. Van Nostrand, 1926-1935
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- New Jersey Bank Note History
- General information on Lakehurst (Wikipedia)
- General information on Ocean County (Wikipedia)
- General information on New Jersey (Wikipedia)
Sources
- Lakehurst, NJ, 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 Central New Jersey Home News, New Brunswick, NJ, Wed., Aug. 13, 1924.
- Asbury Park Press, Asbury Park, NJ, Thu., Jan. 12, 1928.
- The Freehold Transcript and the Monmouth Inquirer, Freehold, NJ, Fri., Jan. 12, 1945.
- Asbury Park Press, Asbury Park, NJ, Sat., Oct. 18, 1947.
- Asbury Park Press, Asbury Park, NJ, Fri., Oct. 31, 1947.
- Asbury Park Press, Asbury Park, NJ, Sun., Mar. 4, 1956.