First National Bank, Waynesboro, PA (Charter 11866)
First National Bank/First NB & TC, Waynesboro, PA (Chartered 1920 - Closed (Merger) 1997)
Town History
Waynesboro is a borough in Franklin County, Pennsylvania, on the southern border of the state. Waynesboro is in the Cumberland Valley between Hagerstown, Maryland, and Chambersburg, Pennsylvania. It is 2 miles north of the Mason–Dixon line and close to Camp David and the Raven Rock Mountain Complex. The population within the borough limits was 10,568 at the 2010 census.
Beginning in 1751 a certain John Wallace obtained several warrants for the land on which the center of the town now stands. In 1797 John Wallace, a son of the original British settler, laid out the town of Waynesburg. When incorporated in 1831, the borough was given the name "Waynesboro." It is one of several dozen towns, cities, and counties named after General Anthony Wayne, a hero of the American Revolutionary War.
During the American Civil War, Waynesboro played a part in the Gettysburg Campaign in June and July 1863. In the week before the Battle of Gettysburg, Confederate Major General Jubal Early's division of Lieutenant General Richard S. Ewell's corps of the Army of Northern Virginia passed through the community on its way northward. After the battle, General Robert E. Lee rode through the border community with his retreating forces.
By the early years of the 20th century, Waynesboro had become a very industrial town. It was known for the manufacture of engines, boilers, grinders, threshers, boring machines, bolt cutters, wood and iron workers' vises, nut facers, etc. There were also foundries and machine shops and manufacturers of lumber products. Some local companies included Frick Company, Geiser Manufacturing, Waynesboro Knitting Mill, Connie's Sportwear, Freeman's Shoes, Landis Machine Company, and Landis Tool Company. In 1900, 5,396 people lived in the town; in 1910, 7,199 people; and in 1940, 10,231 people.
Waynesboro had five National Banks chartered during the Bank Note Era, and four of those banks issued National Bank Notes.
Bank History
- Organized October 20, 1920
- Chartered November 1, 1920
- Conversion of The Bank of Waynesboro
- 2: Assumed 4445 by consolidation and its circulation December 31, 1920 with title change (Peoples National Bank, Waynesboro, PA)
- 3: Assumed 13005 by consolidation December 31, 1926 with title change (Waynesboro NB & TC (No Issue), Waynesboro, PA)
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into Financial Trust Co., Chambersburg, PA September 26,1997
On November 5, 1920, the consolidation of the Peoples' National Bank and the recently nationalized Bank of Waynesboro was announced to be effective January 2, 1921. J.H. Stoner, cashier of the Peoples' National became president of the consolidated bank; W.T. Omwake, the Peoples' National president became chairman of the board; J.J. Oller, president of the Bank of Waynesboro became chairman of the executive committee, and M.T. Brown, the cashier of the Bank of Waynesboro became the cashier of the new bank. The new institution took the title of First National Bank in Waynesboro and occupied the handsome new building of the Peoples' National Bank on the northwestern corner of center square. The combined resources of the new bank exceeded $6,000,000 with capitalization of $400,000, a surplus of $600,000, and undivided profits of approximately $200,000. The bank had more than 10,000 depositors. On December 30, 1920, with five State police acting in conjunction with local officers, the Bank of Waynesboro moved into the former Peoples' National Bank.
J.H. Stoner, president and M.T. Brown, cashier, spent Thursday, February 10, 1921 putting their signatures on 2,000 bank notes of $10 and $20 denominations, the first installment of $100,000 the bank received from the U.S. Treasury. About that time, The law offices of Walter and Gillan at Chambersburg found an original deed to some land in Waynesboro. Watson R. Davison, Esq., dropped by the office and recognized the deed as the plot of land upon which the bank stood. The deed was given to the bankers to their delight. The deed was executed in 1798 and was from John Wallace to Michael Stoner. Coincidentally, J.H. Stoner was the president of the bank occupying that site. The original price of the land was five pounds. The deed was hung over the bank's vault.
On December 21, 1926, stockholders of the First National Bank and the Waynesboro National Bank and Trust Company approved the actions taken by the directors for the consolidation of the two institutions. The consolidation occurred on January 1, 1927 with the new bank taking the title First National Bank and Trust Company in Waynesboro and occupying the site of the First National Bank. Capital of the new institution was $900,000. Plans were prepared to extend the building back 72 feet, remove the old vault and install a larger one.
In February 1927, Cashier M.T. Brown was replaced by I.L. Taylor, president of the Gettysburg National Bank as chairman of the Group 5, Pennsylvania Bankers' Association due to Brown's severe lacerations and bruises received in a motor car crash near Shippensburg when returning from a meeting of that committee.
Official Bank Title(s)
1: 1st title not used on notes: The National Bank of Waynesboro, PA
2: First National Bank in Waynesboro, PA (12/31/1920)
3: First National Bank and Trust Company in Waynesboro, PA (12/31/1926)
Bank Note Types Issued
A total of $3,060,090 in National Bank Notes was issued by this bank between 1920 and 1997. This consisted of a total of 248,091 notes (172,192 large size and 75,899 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 2: 1902 Plain Back 3x10-20 1 - 32396 3: 1902 Plain Back 3x10-20 1 - 10652 3: 1929 Type 1 6x10 1 - 8598 3: 1929 Type 1 6x20 1 - 2060 3: 1929 Type 2 10 1 - 9441 3: 1929 Type 2 20 1 - 2510
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1920 - 1997):
Presidents:
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 Waynesboro (Wikipedia)
- General information on Franklin County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Waynesboro, PA, Wikipedia, https://en.wikipedia.org/wiki/Waynesboro,_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://spmc.org/bank-note-history-project
- The Evening News, Harrisburg, PA, Fri., Nov. 5, 1920.
- The Evening News, Harrisburg, PA, Fri., Dec. 31, 1920.
- Public Opinion, Chambersburg, PA, Wed., Feb. 16, 1921.
- People's Register, Chambersburg, PA, Thu., Feb. 17, 1921.
- Public Opinion, Chambersburg, PA, Thu., Dec. 23, 1926.
- Pittsburgh Daily Post, Pittsburgh, PA, Tue., Jan. 4, 1927.
- The Evening News, Harrisburg, PA, Tue., Feb. 22, 1927.