First National Bank, Strasburg, PA (Charter 42-2700-42)

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The old First National Bank of Strasburg on the corner of E Main and Decatur Streets, ca2019. Courtesy of Google Maps

First National Bank, Strasburg, PA (Chartered 1863 - Closed (Merger) 2008)

Town History

A 1963 ad for the First National Bank of Strasburg in its 100th year showing photos of the bank's interior; John F. Herr, president; and Edward M. Eberman, cashier.

Strasburg is a borough in Lancaster County, Pennsylvania. It developed as a linear village stretching approximately 2 miles along the Great Conestoga Road, later known as the Strasburg Road. Lancaster, the county seat, is 8 miles northwest of Strasburg. The population was 3,117 at the 2020 census. In 1860 the population was 921 and by 1930 it had grown to 975.

The town was named after the then German city of Strasbourg, (today part of France) the native home of an early settler. The town is often called "Train Town USA" because of the many railroad attractions in and around town, including the Strasburg Rail Road and the Railroad Museum of Pennsylvania. The movie Witness was largely filmed on a farm nearby. Much of the borough was listed as a historic district by the National Register of Historic Places in 1983.

The Old Conestoga Road was in use by 1714, and by 1750 a tavern and some log houses were built near the current site of Strasburg. The community grew as regional trade with Philadelphia grew. By 1759, there were 32 taxable properties in the town, including about ten hotels. Many early settlers were Huguenots or Swiss or German Mennonites, and several church congregations of various faiths formed during the 1760s. The first church was built in 1807 by Methodists.

The Old Conestoga Road was the main path connecting Philadelphia with areas to the west, but in 1792 the new Philadelphia and Lancaster Turnpike was built, bypassing Strasburg 4 miles (6 km) to the north. However, in 1793 construction on the new Strasburg Road started, roughly following the old road, passing through West Chester on the way to Philadelphia. It attracted traffic because it was not a toll road, unlike the Philadelphia Turnpike. This road later developed into Pennsylvania Route 741.

Strasburg had the First National Bank of Strasburg (Charter 42) which was succeeded in 1882 by the First National Bank (Charter 2700) when Congress failed to pass legislation in time to allow national banks to extend their charters. Charter 42 was reassigned on May 20, 1911. Thus, Strasburg had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

Charter 42 Bank History:

  • Chartered July 29, 1863
  • 1: Liquidated May 22, 1882
  • 1: Succeeded by 2700 (First National Bank, Strasburg, PA)
  • 2: Charter 42 reassigned to 2700 May 20, 1911 (First National Bank, Strasburg, PA)
  • Bank was Open past 1935
  • For Bank History after 1935 see FDIC Bank History website
  • Merged into PNC Bank, NA in Pittsburgh, PA, August 8, 2008

Charter 2700 Bank History:

  • Organized May 8, 1882
  • Chartered May 22, 1882
  • Succeeded 42 (First National Bank, Strasburg, PA)
  • Retook charter 42 May 20, 1911 (First National Bank, Strasburg, PA)

On Saturday, May 16, 1863, at a meeting of the stockholders of the First National Bank of Strasburg, the following officers were elected: John F. Herr, president; Daniel Herr, John Strohm, Dr. Jno. K. Raub, Geo. W. Hensel, Joseph McClure, John Musselman, William Spencer, and Amaziah M. Herr, directors. The officers expected to commence banking operations as soon as their office, books, etc. were prepared.[1] The bank opened on Wednesday, August 5th, with John F. Herr, president; and E.M. Eberman, cashier.[2] Mr. Eberman had been for a long time clerk in the County Bank.[3] The capital was $100,000 contributed by 72 stockholders representing a wide area of territory. The new institution opened for business at 6 East Main Street and continued at that location until October 1865 at a rental of $60 per year. With increasing business, more commodious quarters were found and a 17 year lease was made with the owner, Christian E. Bachman at the rate of $125 per year. Soon after the death of Mr. Bachman, the directors purchased the property and made the location permanent. The bank was enlarged in 1923.[4]

On Tuesday, January 12, 1864, at the annual meeting of the stockholders, the old board was re-elected.[5]

In January 1870, the directors elected were John F. Herr, Joseph McClure, Geo. W. Hensel, Frank J. Herr, John Smith, Henry Musser, and A. Ross Black.[6]

On Wednesday, April 7, 1875, John F. Herr, president; and Frank J. Herr, director, resigned from the board and their places were filled by the selection of John Bachman and Wm. Spencer. Joseph McClure of Bart Township was elected president.[7]

On February 19, 1879, at a meeting of the directors, George W. Hensel, Jr., was elected cashier succeeding the late R.F. Raunch and B. Morris Herr was chose teller to succeed Mr. Hensel. Mr. Hensel was the son of Mr. N.H. Hensel of Greene, Drumore Township and though a young main, he had eight years connection with the institution thus amply qualifying himself for his new position.[8]

In January 1883, the stockholders re-elected the following board of directors: Joseph McClure, Geo. W. Hensel, Wm. Spencer, George K. Reed, Ross Black, John Bachman, and Christian Rohrer.[9]

In January 1887, Joseph McClure stepped down as president and director and was succeeded by his son, Robert S. McClure as director. William Spencer was chosen president.[10]

In January 1889, the directors elected were William Spencer, John Bachman, A.R. Black, George K. Reed, C.W. Schultz, R.S. McClure, and Christian Rohrer.[11]

On Friday evening, March 8, 1889, William Spencer, one of the best known citizens of Strasburg died at his residence in that borough. Mr. Spencer was in his 74th year and lived retired, although he was the owner of several fine farms in Lancaster and Chester Counties. For many years he was a member of the board of directors of the First National Bank and two years earlier he was made president. In 1861 he was elected a member of the board of county commissioners.[12] In April 1889, A.R. Black, esq., was elected president of the First National Bank to fill the vacancy caused by the death of William Spencer, esq., and Mr. C. Rowe was elected a director.[13]

In January 1911, the directors were Robert S. McClure, A.B. Denlinger, A.W. Hess, Jacob L. Ranck, Jay Bachman and George W. Hensel.[14]

In 1958, a beautiful building was erected in the village of Willow Street which was to serve as the Willow Street Branch of the First National Bank. The application for this branch was once refused by the comptroller of the currency, but the continued persistence of Mr. Albert F. Witmer, cashier, later paid off. This branch was opened June 2d, 1958.[15]

In January 1963, Donald H. Hoffecker, Paradise, was appointed cashier, succeeding Albert Witmer who announced his retirement after more than a half-century of banking service. Witmer would continue as a director. Hoffecker had been with the Strasburg institution for 20 years.[16]

On September 1, 1980, The First National Bank of Strasburg, the oldest national bank in Lancaster County, adopted a new name, The First National Bank of Lancaster County. The bank employed a staff of 145 at eight office locations including Strasburg, Willow Street, Millersville, Buck, Fruitville Pike, Lampeter, Lancaster at E. King Street and N. Duke Street. The motto of the bank was "The Friendly First."[17][18]

In July 2007, PNC Financial Services Group Inc. said it would pay $565 million for Sterling Financial Corp., the fifth PNC acquisition announced or completed since March. Sterling Financial was founded in 1987 as the holding company for the First National Bank of Lancaster County with headquarters in Lancaster. Its businesses included banking at 66 branches in Pennsylvania, northern Maryland and northern Delaware; insurance; fleet and equipment leasing; and commercial financing; investment/brokerage services. It employed 1,100, with 2006 revenue $186.0 million and 2006 profits $36.5 million. Sterling Financial came on the market in May after it said it would take a charge of $145-165 million against 2006 earnings to make up for concealed losses at Equipment Finance L.L.C. PNC agreed to pay $19 a share in cash and stock for Sterling whose stock traded for as much as $24.20 late last year and as little as $9.48 at the end of May. The Lancaster bank had 3.3 billion in assets including $2.63 billion in deposits at 66 bank branches.[19]

  • 07/01/1987 Changed Institution Name to Bank of Lancaster County, National Association.
  • 05/25/2007 Changed Institution Name to BLC Bank N.A..
  • 05/25/2007 Acquired Pennsylvania State Bank (FDIC #27517) in Camp Hill, PA.
  • 05/25/2007 Acquired Bank of Hanover and Trust Company (FDIC #12986) in Hanover, PA.
  • 05/25/2007 Acquired Bay First Bank, National Association (FDIC #4856) in North East, MD.
  • 08/08/2008 Merged and became part of PNC Bank, National Association (FDIC #6384) in Pittsburgh, PA.

Official Bank Titles

1: The First National Bank of Strasburg, PA

2: The First National Bank of Strasburg, PA (5/20/1911)

Bank Note Types Issued

1882 Brown Back $20 proof approved August 4, 1882. Courtesy of the Smithsonian Institution Archives
1902 Plain Back $20 bank note with pen signatures of James H. Wolf, Cashier and A.W. Hess, President
1902 Plain Back $20 bank note with pen signatures of James H. Wolf, Cashier and A.W. Hess, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note with SN D000001A and printed signatures of James H. Wolf, Cashier and A.W. Hess, President. Courtesy of Heritage Auctions, www.ha.com

Charter 42 Bank Note Types Issued:

A total of $589,250 in National Bank Notes was issued by charter 42 between 1863 and 1935. This consisted of a total of 59,726 notes (53,456 large size and 6,270 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: Original Series 4x5 1 - 5150
1: Original Series 3x10-20 1 - 2220
1: Series 1875 3x10-20 1 - 1464
2: 1902 Date Back 3x10-20 1 - 1240
2: 1902 Plain Back 3x10-20 1241 - 4530
2: 1929 Type 1 6x10 1 - 654
2: 1929 Type 1 6x20 1 - 172
2: 1929 Type 2 10 1 - 1061
2: 1929 Type 2 20 1 - 253

Charter 2700 Bank Note Types Issued:

A total of $352,250 in National Bank Notes was issued by charter 2700 between 1882 and 1911. This consisted of a total of 28,180 notes (28,180 large size and No 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 3x10-20 1 - 3945 $20 with Variety 2 Battle of Lexington vignette
1902 Red Seal 3x10-20 1 - 1650
1902 Date Back 3x10-20 1 - 1450

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1863 - 1935):

Charter 42 Bank Presidents and Cashiers:

Presidents:

Cashiers:

Charter 2700 Bank Presidents and Cashiers:

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Strasburg, 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
  1. ↑ The Lancaster Examiner, Lancaster, PA, Wed., May 20, 1863.
  2. ↑ The Lancaster Examiner, Lancaster, PA, Wed., Aug. 5, 1863.
  3. ↑ The Lancaster Examiner, Lancaster, PA, Wed., May 27, 1863.
  4. ↑ Sunday News, Lancaster, PA, Sun., Feb. 24, 1963.
  5. ↑ The Lancaster Examiner, Lancaster, PA, Wed., Jan. 20, 1864.
  6. ↑ The Daily Evening Express, Lancaster, PA, Sat., Jan. 15, 1870.
  7. ↑ The Daily Evening Express, Lancaster, PA, Thu., Apr. 8, 1875.
  8. ↑ Intelligencer Journal, Lancaster, PA, Thu., Feb. 20, 1879.
  9. ↑ The Lancaster Examiner, Lancaster, PA, Wed., Jan. 17, 1883.
  10. ↑ The Inquirer, Lancaster, PA, Sat., Jan. 22, 1887.
  11. ↑ The Inquirer, Lancaster, PA, Sat., Jan. 12, 1889.
  12. ↑ Lancaster Intelligencer, Lancaster, PA, Wed., Mar. 13, 1889.
  13. ↑ Lancaster Daily Intelligencer, Lancaster, PA, Sat., Apr. 6, 1889.
  14. ↑ Lancaster New Era, Lancaster, PA, Tue., Jan. 10, 1911.
  15. ↑ Sunday News, Lancaster, PA, Sun., Feb. 24, 1963.
  16. ↑ Lancaster New Era, Lancaster, PA, Wed., Jan. 9, 1963.
  17. ↑ Sunday News, Lancaster, PA, Sun., Dec. 7, 1980.
  18. ↑ Intelligencer Journal, Lancaster, PA, Wed., Sep. 10, 1980.
  19. ↑ The Philadelphia Inquirer, Philadelphia, PA, Fri., July 20, 2007.
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