First National Bank, Stroudsburg, PA (Charter 2787)
First National Bank, Stroudsburg, PA (Chartered 1882 - Closed 1932)
Town History
Stroudsburg is a borough in Monroe County, Pennsylvania. It is in the state's Poconos region, approximately five miles from the Delaware Water Gap, at the confluence of the Brodhead, McMichaels and Pocono Creeks. It is in northeastern Pennsylvania, located just off Interstate 80, and is the county seat of Monroe County. The population was 5,927 at the 2020 census. In 1880 the population was 2,419 and it peaked in 1950 at 6,361.
In 1911 Stroudsburg became the site of the first of J.J. Newberry’s nationwide chain of “5 and 10 cent stores.” Newberry’s closed in 1997 after 86 years in business.
The Pocono region remains Pennsylvania’s biggest tourist attraction and has nearly $1 billion in economic impact with over 8 million visitors annually. Until the mid-1960s the Delaware, Lackawanna and Western Railroad and later the Erie Lackawanna Railroad served the town with the Phoebe Snow, the Lake Cities and several other trains.
Stroudsburg had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized September 21, 1882
- Chartered September 29, 1882
- Succeeded Monroe County Banking and Savings Co.
- Closed September 12, 1932
- Consolidated with 3632 September 12, 1932 (Stroudsburg NB/First-Stroudsburg NB, Stroudsburg, PA)
- Circulation assumed by 3632 (Stroudsburg NB/First-Stroudsburg NB, Stroudsburg, PA)
On February 1, 1876, the Monroe County Bank would change into a new banking and savings company. This change would not interfere with the deposits, and loans made by the Monroe County Bank would be settled on maturity. The old officers were chosen to manage the new banking company. The paid in capital was $50,000. The gentlemen connected with the new banking company were Charles Fetherman, Hon. R.S. Staples, Thomas A. Bell, Hon. Charles W. Decker, Dr. J. Lantz, Thomas D. Stites, George E. Stauffer, and Wm. B. Bell. The Monroe County Banking and Savings Company organized on Saturday, January 15th, electing the following directors for the ensuing year: Charles Fetherman, Richard S. Staples, Thomas A. Bell, Dr. Lantz, and George E. Stauffer. Thomas A. Bell was chosen president; Charles Fetherman, vice president and Wm. B. Bell, cashier. The new bank would occupy the rooms of the old Monroe County Bank.[1]
In October 1882, the Treasury Department announced the organization of the First National Bank of Stroudsburg, Pennsylvania, No. 2787, capital $50,000. Richard S. Staples was president and Edwin A. Bell, cashier.[2] The following board of directors was elected: Richard S. Staples, Alonza B. Shafer, M. Heller, Thomas A. Bell, David Saylor, Isaac T. Puterbaugh, Jacob K. Shafer, Amzi B. Wyckoff, Frank H. Smith, Geo. E. Stauffer, and Stroud Burson. The directors elected the following officers: Richard S. Staples, president; Frank H. Smith, vice president; Edwin A. Bell, cashier. The papers of organization were at once sent to Washington, DC, and the necessary books for business were ordered. The bank expected to commence business in about three weeks in the Monroe County Banking House.[3]
On August 3, 1932, announcement of the merger of the Stroudsburg National Bank and the First National Bank of Stroudsburg, oldest banks in Monroe County with combined resources of almost $5,000,000 was made. The change would be effective at the opening of business on the 4th and the new institution would be known as the First-Stroudsburg National Bank. all present employees and directors would be retained with W.K. Labar, president and Stewart Flagler, chairman of the board of the new institution. Attorney General of the United States, A. Mitchell Palmer, was a member of the board.[4]
Official Bank Title
1: The First National Bank of Stroudsburg, PA
Bank Note Types Issued
A total of $1,161,830 in National Bank Notes was issued by this bank between 1882 and 1932. This consisted of a total of 130,312 notes (113,704 large size and 16,608 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 - 7027 1882 Brown Back 3x10-20 1 - 910 1902 Red Seal 3x10-20 1 - 2600 1902 Date Back 3x10-20 1 - 4100 1902 Plain Back 4x5 1 - 5970 1902 Plain Back 3x10-20 4101 - 11919 1929 Type 1 6x5 1 - 1656 1929 Type 1 6x10 1 - 878 1929 Type 1 6x20 1 - 234
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1882 - 1932):
Presidents:
- Richard S. Staples, 1883-1884
- Frank H. Smith, 1885-1909
- Robert Brown, 1910-1924
- William W. L'Hommedieu, 1925-1932
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 Stroudsburg (Wikipedia)
- General information on Monroe County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Stroudsburg, 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