First National Bank, Tonawanda, NY (Charter 4869)

Photo ca1900 of the First National Bank of Tonawanda in winter.  The bank sits on the edge of the Erie Canal. The structure to the right of the turret is 2 Main and to the left of the turret as you are facing the building is 4 Main.  Today, the legal address is 2 Main and 6 Main. Courtesy of T. Weibel

First National Bank, Tonawanda, NY (Chartered 1893 - Liquidated 1916)

Town History

An April 2025 photo of the rebuilt First Trust Company (1929) that was the successor to the First National Bank of Tonawanda, New York. Courtesy of T. Weibel

Interior of the First Trust Company in 1929. The caption states Daylight and spaciousness make banking a pleasure here. Courtesy of T. Weibel

Tonawanda is a city in Erie County, New York, United States. It is at the northern edge of Erie County, south across the Erie Canal (Tonawanda Creek) from North Tonawanda, east of Grand Island, and north of Buffalo. It is part of the Buffalo-Niagara Falls metropolitan area. The population was 15,129 at the 2020 census. In 1880 the population was 3,864 growing to 8,290 by 1910.

The city's name is from the word Tahnawá•teh in Tuscarora meaning "confluent stream".

Post-Revolutionary War white settlement at Tonawanda began with Henry Anguish, who built a log home in 1808. He added to the hamlet in 1811 with a tavern, both on the south side of Tonawanda Creek where it empties into the Niagara River. The hamlet grew slowly until the opening of the Erie Canal, completed in the course of the creek in 1825. The Town of Tonawanda was incorporated in 1836. The Erie Canal and the railroads that soon followed it provided economic opportunity. By the end of the 19th century, both sides of the canal were devoted to businesses as part of a leading lumber processing center. In the mid-19th century, the business center of Tonawanda was incorporated as a village within the town. The village united in a corporation with North Tonawanda across the canal. This corporation fell apart, and in 1904 the village was incorporated as the City of Tonawanda.

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

Bank History

The bridge over the canal was destroyed in the 1910 flood. Courtesy of T. Weibel

A view of Main Street Tonawanda and the Erie Canal from 1955. At top right is the Niagara Savings and Loan Association and the Marine Trust Company. Courtesy of T. Weibel

• Organized February 14, 1893
• Chartered March 21, 1893
• Liquidated July 22, 1916
• Succeeded by First Trust Company of Tonawanda, NY

The mahogany furniture for the new First National Bank of Tonawanda arrived and would be put in position at once.

On February 23, 1893, Dr. William D. Murray died at his home on North Canal Street early this morning. He took a long drive to attend to one of his patients on the 12th and the extreme cold weather aggravated heart disease of which he was susceptible. He was a graduate of Columbian Medical College at Washington in 1859 and began practice in Tonawanda. At the outbreak of the Civil War, he entered service as a surgeon, afterwards returning to Tonawanda. He was a director in the State Bank of North Tonawanda and the First National Bank of Tonawanda, president of the Board of Education and a member of the G.A.R.

On March 7th, 1893, Mr. Henry P. Smith, assistant cashier of the State Bank was elected cashier of the new First National Bank. Samuel B. Lindsay who had been connected with the insurance firm of Humphrey and Vandervoort for some time, was chosen bookkeeper. The bank planned to be in operation by April 1st. On March 21, 1893, the First National Bank was authorized to begin business with capital of $100,000. George F. Rand was president, and Henry P. Smith, cashier. The stockholders besides President Rand were Augustus Crown, Alexander C. Campbell, John L. Nice, Matt. Scanlon, James P. Zimmerman, and William Hardleben. The Scanlon Ring which controlled village matters for several years had just been defeated. Matthew Scanlon and his lieutenants, Hoenig, Schwartz, and Wend were voted out with the successful candidates being Augustus H. Crown, president; E.B. Simson, George W. Milliner, E.G. Riesterer, and A.J. Kropf, trustees, Louis Gruen, treasurer; Jacob Stegmeyer, assessor; and D.A. Grant, collector.

In March 1894, the directors were John L. Nice, Wm. Hardleben, A.C. Campbell, Mat Scanlon, A.H. Crown, J.B. Zimmerman, and George F. Rand. The officers were George F. Rand, president; Alex C. Campbell, vice president; and Henry P. Smith, cashier.

In May 1900, the officers were George F. Rand, president; LeGrand S. DeGraff and James S. Thompson, vice presidents; and Henry P. Smith, cashier. The bank had total assets of $963,124.49 with capital stock $100,000, Surplus and profits $63,711.47, circulation $100,000 and deposits $699,413.02.

In January 1904, officers were George F. Rand, president; James S. Thompson, vice president; Henry P. Smith, cashier; S.B. Lindsay and Wm. R. Martin, assistant cashiers.

On Friday, February 18, 1916, James S. Thompson died at the Johns Hopkins Hospital in Baltimore. Mr. Thomson was born in North Tonawanda on October 11, 1855, and lived there his entire life. He was at one time president of the village of Tonawanda. He was senior member of the lumber firm of Thompson, Hubman & Fisher of Tonawanda. He was vice president of the Marine National Bank of Buffalo, the Central National Bank of Buffalo, director of the International Railway Co., vice president of the First National Bank of Tonawanda and the State National Bank of Tonawanda, vice president of the Durolithic Co. of Tonawanda and the Marine Hospital in Buffalo, and vice president of the Wurlitzer Manufacturing Co. of Cincinnati. He was a member of the Buffalo Club and the Royal Canadian Yacht Club of Toronto.

On June 12, 1916, notice was given of the intent to organize the First Trust Company of Tonawanda with incorporators as follows:  George F. Rand, Jacob G. Joseph, John T. Shanahan, Timanus J. Wilson, Fred Engelking, Henry P. Smith, and Walter P. Cooke. The amount of capital stock was $500,000.

On Monday, July 24, 1916, the First Trust Company of Tonawanda would take over the First National Bank of that city. An organization certificate to accomplish that was filed with the State Banking department at Albany. The new bank would do business in the present location. Henry P. Smith, president, stated the change was to enable the bank to give better service and give it a wider scope. The capital was increased from $300,000 to $500,000 and the surplus from $200,000 to $600,000. The officers would be as follows: Henry P. Smith, president; T.J. Wilson, vice president; E. Herbert Smith, secretary; William R. Martin, treasurer; and M.L. Snyder, assistant treasurer. The directors were T.J. Wilson, John T. Shananhan, J.G. Joseph, Walter P. Cooke, George F. Rand, Fred Engelking and Henry P. Smith.

On July 29, 1916, announcement was made by the comptroller of the currency of the liquidation of the First National Bank of Tonawanda. The First Trust Company of Tonawanda succeeded the national bank with capital stock of $300,000. H.J. Auer and R.J. Hutton of Tonawanda were the liquidating agents.

On January 24, 1939, Henry P. Smith, 67, president of the First Trust Company of Tonawanda and vice president of the State Trust Company of North Tonawanda died in his home at Niagara and Christiana Streets, North Tonawanda. A Twin Cities banker for more than 45 years, Mr. Smith also took an active part in civic affairs. He was a descendant of an old pioneer family and was born on the family homestead in LaSalle, January 31, 1871. He became cashier of the old First National Bank of Tonawanda after helping George F. Rand, Sr., organize the institution in 1893. After Mr. Rand transferred his financial interests to Buffalo, Mr. Smith was elected president of the Tonawanda bank which later was reorganized as the First Trust Co. His son, Francis A. Smith, was an assistant vice president of the Marine Trust Company of Buffalo. A brother, E. Herbert Smith, was secretary of the First Trust Company.

On Saturday, April 28, 1951, the merger of seven Marine Midland banks to form the Marine Trust Company of Western New York was completed. The consolidation was effected by the merger of the First Trust Company of Tonawanda, the State Trust Company of North Tonawanda, the Marine Midland Trust Company of Albion and the Medina Trust Company with Marine Trust in Buffalo. The Niagara County National Bank & Trust Company of Lockport and the Power City Trust Company of Niagara Falls previously had merged with the Marine Trust. The merger gave the Marine Trust of Western New York total resources of more than $500,000,000.

Official Bank Title

1: The First National Bank of Tonawanda, NY

Bank Note Types Issued

1882 Brown Back $5 bank note with SN 1C and pen signatures of Henry P. Smith, Cashier and George F. Rand, President. Courtesy of Heritage Auctions. www.ha.com

1882 Date Back $10 bank note with stamped signatures of Henry P. Smith, Cashier and George F. Rand, President. Courtesy of Heritage Auctions. www.ha.com

1902 Date Back $10 bank note with stamped signatures of E. Herbert Smith, Cashier and Henry P. Smith, President. Courtesy of Heritage Auctions. www.ha.com

A total of $2,501,150 in National Bank Notes was issued by this bank between 1893 and 1916. This consisted of a total of 303,916 notes (303,916 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	4x5	1 - 14905
1882 Brown Back	3x10-20	1 - 11818
1882 Date Back	4x5	1 - 14900
1882 Date Back	3x10-20	1 - 10520
1902 Date Back	4x5	1 - 13455	Napier | Thompson signatures
1902 Date Back	3x10-20	1 - 10381	Napier | Thompson signatures

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1893 - 1916):

Presidents:

• George Franklin Rand, 1893-1913
• Henry P. Smith, 1914-1915

Cashiers:

• Henry P. Smith, 1893-1913
• Edward Herbert Smith, 1914-1915

Other Known Bank Note Signers

• LeGrand Simpson DeGraff, Vice President, 1900

Bank Note History Links

• First National Bank, Tonawanda, NY History (NB Lookup)
• New York Bank Note History (BNH Wiki)

Sources

• Tonawanda, NY, 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