First National Bank, Stoneboro, PA (Charter 6638)

First National Bank, Stoneboro, PA (Chartered 1903 - Open past 1935)

Town History

ca.2015 photo of the old First National Bank building. Courtesy of Google maps

Stoneboro is a borough in Mercer County, Pennsylvania, that was founded in 1866. The population was 1,051 at the 2010 census. It is part of the Youngstown-Warren-Boardman, OH-PA Metropolitan Statistical Area. Pittsburgh is 70 miles South and Youngstown, Ohio is about 40 miles west of Stoneboro.

The Borough of Stoneboro, named after Amasa Stone, was incorporated on August 25, 1866. This was in response to a petition filed by the major landowner, the Mercer Iron & Coal Company, along with the signatures of 103 local residents. Sandy Lake was formed during the last ice age and is located north of Stoneboro; a borough named Brownsville was founded there and the name was changed to Sandy Lake in 1868. The Sandy Lake amusement park operated for 48 years before closing. Stoneboro is the home of the Great Stoneboro Fair, one of Mercer County’s oldest and longest-running events.

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

Bank History

Organized Jan 23, 1903
Chartered Feb 21, 1903
Bank was Open past 1935

In December 1902, the Comptroller of the Currency authorized Theo. N. Houser, H.E. Greer, G.S. White, E. Houser, Fred M. Allison and those associated with them to organize the First National Bank of Stoneboro. In 1903, the incorporators of the new bank were Theodore N. Houser, Fred M. Allison, J.P. Hines, John L. Rossiter, and E.W. Echols.

The Comptroller of the Currency authorized the bank to begin business on February 21, 1903 with Theo. N. Houser, president. The bank had capital of $25,000 and a surplus of $5,000. The banking house, a two-story brick block building, suffered construction delays into September 1903. At the end of 1903, E.W. Echols is listed as president and Theo. N. Houser as cashier in the report to the Comptroller of the Currency. The Franklin Savings Bank, Franklin, Pennsylvania, had E.W. Echols as Vice President; this bank had resources exceeding $500,000.

In January 1939, officers were F.N. Houser, president; A.M. Yeager, vice president; and H.D. Parker, cashier. Directors were F.N. Houser, A.M. Yeager, LeRoi J. Cann, J.T. Egbert, and J. Harold Allison.

In January 1972, stockholders elected H.D. Parker president. Directors were H.D. Parker, G.T. Craig, Tracy James, W.N. Ackerman, James Henderson and Robert Kaitenbaugh. Harold D. Parker passed away on July 7, 1972 after having served the area as a banker for 50 years; Tracy James was promoted to president and W.N. Ackerman was named vice president. James Patterson remained cashier and secretary.

On November 30, 1990 the First National Bank of Stoneboro merged and became part of Mercer County State Bank in Sandy Lake, Pennsylvania.

Official Bank Title(s)

1: The First National Bank of Stoneboro, PA

Bank Note Types Issued

1902 Red Seal $10 bank note with pen signatures of Theodore N. Houser, Cashier and E.W. Echols, President. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $20 bank note with pen signatures of H.D. Parker, Cashier and F.N. Houser, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1929 Type 1 $10 bank note with printed signatures of H.D. Parker, Cashier and F.N. Houser, President. This Serial Number 2 note is a replacement note. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $226,510 in National Bank Notes was issued by this bank between 1903 and 1935. This consisted of a total of 18,130 notes (15,356 large size and 2,774 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1902 Red Seal	3x10-20	1 - 765
1902 Date Back	3x10-20	1 - 1120
1902 Plain Back	3x10-20	1121 - 3074
1929 Type 1	6x10	1 - 312
1929 Type 1	6x20	1 - 104
1929 Type 2	10	1 - 220
1929 Type 2	20	1 - 58

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1903 - 1936):

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

Stoneboro, PA, Wikipedia, https://en.wikipedia.org/wiki/Stoneboro,_Pennsylvania
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://bbdata.banknotehistory.com
The News-Herald, Franklin, PA, Fri., Dec. 5, 1902.
Pittsburgh Daily Post, Pittsburgh, PA, Mon., Feb. 23, 1903.
The News-Herald, Franklin, PA, Thu., Sep. 24, 1903.
The Record-Argus, Greenville, PA, Sat., Aug. 12, 1972.