First National Bank, New Bethlehem, PA (Charter 4978)
First National Bank, New Bethlehem, PA (Chartered 1894 - Open past 1935)
Town History
New Bethlehem (new-BETH-lum) is a borough in Clarion County, Pennsylvania. The borough is situated at the southwestern corner of the Pennsylvania Wilds Conservation Landscape. Its main street, PA Route 28-66, is a major thoroughfare between the Pittsburgh metropolitan region and northcentral Pennsylvania.
The city is home to an annual Peanut Butter Festival, celebrating its 23rd year in 2018. Though the town is home to the Smucker's peanut butter factory, the company does not sponsor the festival.
The population was 979 at the 2020 census. In 1900 the population was 1,269 peaking in 1920 at 1,622.
New Bethlehem had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized August 30, 1894
- Chartered September 11, 1894
- Bank was Open past 1935
- Acquired by the Oil City Trust Co., June 7, 1954 with title change to First Seneca Bank and Trust Co.
In May 1872, the Pittsburgh Daily Commercial reported receiving the card of the New Bethlehem Savings Bank, of New Bethlehem, Clarion County, Pa., C.E. Adams, president and J.R. Foster, Cashier.
On Friday, November 26, 1897, Charles E. Andrews, one of the most prominent citizens of Clarion County, passed away at his home in New Bethlehem. He was born in Philadelphia in 1828, his father being a merchant who died soon after Charles was born. At the age of 18, Mr. Andrews engaged as a clerk in the store of Thomas McKelvy, who carried on a mercantile business at New Bethlehem, at a salary of $40 a year. In 1854 young Andrews engaged in the mercantile business on his own account and was soon afterwards married to a daughter, Catharine, of Samuel Duff, then a prominent iron manufacturer of Clarion County. In 1860 Mr. Andrews built a large sawmill, boat yard and planing mill at New Bethlehem and subsequently he was extensively engaged in lumbering in Clarion, Jefferson and Armstrong Counties, being interested in several large mills along the line of the Allegheny Valley Railroad. In 1872 he started a bank in New Bethlehem and was the leading spirit and president of this institution up until the time of his death. Mr. Andrews never sought public office or favor, but was selected by the government as one of the Commissioners in the condemnation proceedings brought against the Monongahela Navigation Company and in this capacity he exhibited great breadth of business grasp and sagacity. He was a valued member, staunch friend and liberal supporter of the Baptist Church, a man of the kindliest disposition, greatly beloved by all who knew him. Mr. Andrews was probably the wealthiest man in Clarion County, his estate easily aggregating over a quarter of a million dollars. He left to survive him a widow, two sons, Firman L. and Wm. M., and one daughter, Margaret, who was the wife of Conductor McEnteer, of the Allegheny Valley Railroad. Mr. Andrews' extensive business interests would be continued by his sons, both of whom had been in partnership with him for years and who possessed much of the business acumen that distinguished their father.
In November 1900, the officers were F.L. Andrews, president; M. Arnold, vice president; J.R. Foster, cashier; and R.F. Mateer, assistant cashier. The directors were F.L. Andrews, M. Arnold, Geo. T. Henery, Dr. J.A. Wick, W.M. Andrews, J.R. Foster, M.J. Mateer, W.W. Corbett, and J.B. Anderson.
In January 1913, the directors were: T.M. Arnold, W.M. Andrews, W.W. Corbett, H.E. Andrews, J.B. Anderson, F.L. Andrews, and C.E. Andrews, Jr. The officers were: Pres., F.L. Andrews; Vice Pres., C.E. Andrews, Jr.; Cashier, C.E. Sheffer; Asst. Cashier, A.S. Johnson; Teller, M.M. Fleming; Stenographer, Miss Georgia Hollobaugh.
The 57th Annual Meeting of the stockholders of the First National Bank of New Bethlehem, was held on January 8th, 1929. The following were unanimously elected directors: Thomas M. Arnold, Charles E. Andrews, Jr., Harry E. Andrews, Percy C. Andrews, Harry M. Rimer, Carl W. Andrews. The Board of Directors elected the following officers for the ensuing year: Charles E. Andrews, Jr., President; Charles E. Sheffer, Vice President and Cashier; Carl W. Andrews; Vice President; Addison S. Johnson; Asst. Cashier; Alfred H. Smith, Asst. Cashier; and J. Clyde Miller, Comptroller.
On Monday, June 7, 1954, nearly 93% of the shareholders of the Oil City Trust Co. voted in favor of changing the name of the banking institution to "The First Seneca Bank and Trust Co." Changing the name of the Trust Co. was deemed advisable because of the decision to acquire the First National Bank of New Bethlehem and operate it as a branch office of the local institution. Directors of both institutions felt the interests of the banks would be served best by removing the geographic connotation "Oil City" and substituting a name applicable to any town or city where a branch may be operated. Shareholders yesterday approved action of the board of directors to assume tne deposit liabilities and purchase certain assets of the First National Bank of New Bethlehem; to provide establishment of a branch office of the company at New Bethlehem; and the election of Charles E. Andrews, Jr., of New Bethlehem, to the board.
The New Bethlehem office of First Seneca opened on July 12, 1954. The First Seneca Bank and Trust Co. had capital of $600,000 and a surplus of $3,000,000, undivided profits and reserves of approximately $2,000,000. Deposits amounted to nearly $30,000,000 and total assets were estimated at $36,000,000. The present personnel were retained in the New Bethlehem office. The following directors of the former First National Bank of New Bethlehem would serve as an advisory committee for the New Bethlehem office: Charles E. Andrews, Jr., P.C. Andrews, Tom T. Andrews, W.H. Haupt, J.C. Reynolds, Alfred H. Smith, W.P. Todd, Eugene Woods and George F.H. Nelson.
Official Bank Title(s)
1: The First National Bank of New Bethlehem, PA
Bank Note Types Issued
A total of $1,356,640 in National Bank Notes was issued by this bank between 1894 and 1935. This consisted of a total of 125,910 notes (84,924 large size and 40,986 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 - 3050 baroque font 1882 Brown Back 3x10-20 1 - 1850 baroque font 1882 Date Back 4x5 1 - 3664 baroque font 1882 Date Back 3x10-20 1 - 2751 baroque font 1902 Date Back 3x10-20 1 - 1050 801-1050 Type uncertain 1902 Plain Back 3x10-20 1051 - 9916 801-1050 Type uncertain 1929 Type 1 6x10 1 - 4148 1929 Type 1 6x20 1 - 1170 1929 Type 2 10 1 - 7433 1929 Type 2 20 1 - 1645
The series of 1882 notes were from plates with a distinctive, baroque font for spelling National Bank, appearing in the mid-1890s, probably beginning in 1894. The distinguishing features of the font are the pointed flairs in the letters. Doug Walcutt assigned Group 11 to this $5 series of 1882 title block layout. More information on Walcutt's classification may be found in Chapter H7, The Encyclopedia of U.S. National Bank Notes available from the National Currency Foundation or Society of Paper Money Collectors.
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1894 - 1936):
Presidents:
- Charles Edgar Andrews, (Sr.), 1895-1897
- Firman L. Andrews, 1898-1926
- Charles Edgar Andrews, Jr., 1927-1935
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on New Bethlehem (Wikipedia)
- General information on Clarion County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- New Bethlehem, 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 Pittsburgh Daily Commercial, Pittsburgh, PA, Thu., May 16, 1872.
- The Clarion Democrat, Clarion, PA, Thu., Dec. 2, 1897.
- The New Bethlehem Vindicator, New Bethlehem, PA, Fri., Nov. 9, 1900.
- The Clarion Democrat, Clarion, PA, Thu., Thu., Jan. 23, 1913.
- The Clarion Democrat, Clarion, PA, Thu., Jan. 31, 1929.
- The News-Herald, Franklin, PA, Tue., June 8, 1954.
- The News-Herald, Franklin, PA, Mon., July 12, 1954.