First National Bank, Wilkes-Barre, PA (Charter 30-2736-30)

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The First National Bank of Wilkes Barre on the Public Square, Wilkes-Barre, Pennsylvania, ca2023. The architect was Albert H. Kipp. The bank opened for business here on January 2nd, 1908. Courtesy of Google Maps

First National Bank, Wilkes-Barre, PA (Chartered 1863 - Closed (Merger) 1994)

Town History

First picture published of the new First National Bank building in 1907.[1]

Wilkes-Barre is a city in the U.S. state of Pennsylvania and the county seat of Luzerne County. Located at the center of the Wyoming Valley, it had a population of 44,328 in 2020 Census. It is the second-largest city (after Scranton) of the Scranton–Wilkes-Barre–Hazleton, PA Metropolitan Statistical Area, which had a population of 563,631 as of the 2010 Census and is the fourth-largest metropolitan area in Pennsylvania. Wilkes-Barre and the surrounding Wyoming Valley are framed by the Pocono Mountains to the east, the Endless Mountains to the north and west, and the Lehigh Valley to the south. The Susquehanna River flows through the center of the valley and defines the northwestern border of the city.

Wilkes-Barre was founded in 1769 and formally incorporated in 1869. The city grew rapidly in the 19th century after the discovery of nearby coal reserves and the arrival of hundreds of thousands of immigrants who provided a labor force for the local mines. The coal mining fueled industrialization in the city, which reached the height of its prosperity in the first half of the 20th century. Its population peaked at more than 86,000 in 1930.

In 1926, Planters Peanuts Company was founded in Wilkes-Barre by two Italian immigrants. The company maintained its headquarters in the city until 1961.

Following World War II, the city's economy declined due to the collapse of industry. The Knox Mine disaster accelerated this trend after large portions of the area's coal mines were flooded and could not be reopened. Today, the city has around half of its peak population of the 1930s, making it the largest city in Luzerne County and the 13th-largest city in Pennsylvania.

Wilkes-Barre had seven National Banks chartered during the Bank Note Era. Three banks used Wilkes Barre (no hyphen) as the town name: First National Bank (Ch2736), Second National Bank (Ch104), and Wyoming National Bank (Ch732). Four banks used Wilkes-Barre (with hyphen) as the town name: First National Bank (Ch30), Luzerne County National Bank (Ch9235), Miners National Bank (Ch13852), and Hanover National Bank (Ch14344). Six of these banks issued National Bank Notes; only the Hanover National Bank did not issue notes. Only the First National Bank (Ch30) issued notes using both versions of the town name, with only small National Bank Notes showing Wilkes-Barre.

Bank History

Charter 30 Bank History:

  • Chartered July 21, 1863
  • 1: Liquidated June 20, 1882
  • 1: Succeeded by 2736 (First National Bank, Wilkes Barre, PA)
  • 2: Charter 30 reassigned to 2736 May 31, 1911 (First National Bank, Wilkes-Barre, PA)
  • Bank was Open past 1935
  • For Bank History after 1935 see FDIC Bank History website
  • Merged with the Second National Bank, Wilkes-Barre (Charter 104), September 13, 1957
  • Merged into PNC Bank, NA in Pittsburgh, PA, June 17, 1994

Charter 2736 Bank History:

  • Organized June 19, 1882
  • Chartered June 21, 1882
  • Succeeded 30 (First National Bank, Wilkes-Barre, PA)
  • Retook Charter 30 May 31, 1911 (First National Bank, Wilkes-Barre, PA)

In November 1863, Mr. James McLean of Summit Hill, Carbon County met with a serious accident on the railroad near his home. He was on a truck car which jumped off the track and threw the occupants out. Mr. McLean was severely injured. One of his arms was broken in two places, his head badly bruised, and his tongue nearly cut off.[2] On Friday, January 29, 1864, Mr. James McLean, president of the First National Bank of Wilkes-Barrie, died at Mauch Chunk, aged 38 years. Only a week before his death he was in Wilkes-Barre at a bank meeting when he was re-elected its president and had returned home to Carbon County on Saturday. Mr. McLean met with a painful accident on the railroad from Summit to Mauch Chunk some months ago from which he was recovering. He was the oldest son of Mr. Alexander McLean of Bloomsburg. It was just a year since another son's remains were brought home from a military hospital having giving his life to the service of his country.[3] Alexander McLean was one of the charter members of the bank and a director until his death in 1868.[4]

In September 1864, Alexander Gray, president and Joseph Brown, vice president, sold their stock in the First National Bank of Wilkes Barre, viz, 622 shares at $114 per share. The new directors elected were Chas. Parrish, Jos. Lippincott, and G.B. Nicholson. Charles Parris was elected president and G.B. Nicholson vice president. Mr. Thos. Wilson continued as cashier of the bank.[5]

On January 8, 1867, the directors elected were Charles Parrish, G.B. Nicholson, Joseph Lippincott, Alexander McLean, F.W. Hunt, H.B. Hillman, R.J. Flick, Chr. Brahl, John McNeish, John Faser, Samuel H. Lynch, and W.L. Conyngham. The officers elected were Charles Parris, president; Thomas Wilson, cashier; A.J. Wells, teller; and Wm. W. Woodward, clerk.[6]

In January 1868, the First National elected the old board, 1,804 votes out of 2,500 having been cast. There was no opposition. The directors elected were Charles Parrish, H.B. Hillman, John Faser, Joseph Lippincott, S.H. Lynch, R.J. Flick, C. Brahe, Alexander McLean, F.W. Hunt, John McNeish, G.B. Nicholson, and W.E. Conyngham. The board organized on Wednesday, January 15th, by electing Charles Parrish, president; G.P. Nicholson, vice president; and Thomas Wilson, cashier.[7]

In January 1889, the directors were E.C. Wadhams, Chas. P. Hunt, William S. McLean, H.H. Ashley, Samuel H. Lynch, S.L. Brown, Chas. Stegmaier, and E.L. Dana. The officers were E.C. Wadhams, president; William S. McLean, vice president; and P.M. Carhart, cashier.[8] In March 1889, the directors were Wm. S. McLean, Chas. P. Hunt, Reuben Downing, H.H. Ashley, Samuel H. Lynch, S.L. Brown, Chas. Stegmaier, George Loveland. The officers were William S. McLean, president; Reuben Downing, vice president; and P.M. Carhart, cashier. The bank was located on the Public Square with Capital $375,000 and surplus $100,000.[9]

In January 1906, the directors were William S. McLean, Charles P. Hunt, George Loveland, H.H. Ashley, Samuel Lynch, Moses W. Wadhams, Charles Stegmaier, Jesse Beadle, W.H. Conyngham, and John Hance. The officers were William S. McLean, president; H.H. Ashley, vice president; and Francis Douglas, cashier. The capital was $375,000, surplus and undivided profits, $340,000.[10] There was much uncertainty as to when the Slocum House was erected, but it was about 100 years ago. It was slated for removal to make room for the First National Bank building. The Slocum House was for some years occupied by William P. Miner when he published The Record and for many years had been a book store. It was notable as being the first three-story brick building in northeastern Pennsylvania and attracted much distrust on the ground that a brick building that tall was liable to fall. The bricks were said to have been brought from England.[11] Architect Kipp produced an elaborate set of drawings for the new bank on Public Square where Madden's Book Store stood. The cost was estimated at between $150,000 and $200,000 for a structure 54 feet high, 42 feet wide and 158 feet long with a basement and a third story for offices. The front was Romanesque in design and the pillars were each 35 feet high and 4 feet in diameter. At the rear would be a massive safe and safety deposit vaults with tarazza floors beneath and back further in a one-story extension would be the directors' meeting room, elliptical in shape and splendidly equipped. To the right of the main entrance would be the president's room with parquetry flooring, marble fireplace and other splendid furnishings. Opposite, across the vestibule was a ladies reception room similar in outline and elegance to the president's room.[12]

A 1933 advertisement for the First National Bank of Wilkes-Barre.

In February 1907, the exterior was practically complete. The general contractors for the building were W.H. Shepherd & Sons. The firm did all the plain concrete work and furnished the granite and sub-contracts were let as follows: plain plastering, John Henry, Wilkes-Barre; ornamental plastering, Frank P. Spiegel of Scranton; electrical work, Shepherd & Rust, Wilkes-Barre; plumbing, Schuler Bros., Wilkes-Barre; re-enforced concrete and metallic lathing, Merritt & Sons, Philadelphia; laying brick and setting stone, George T. Dickover. The main banking room would be wainscoted with marble and in the center would be a handsome oval fronted encloser, extending to the large double vault in the rear of the room. This enclosure would be of bronze and marble and glass and inside would be the working space while on either side there would be wide aisles running the whole length of the room with tiled flooring.[13] The building designed by Albert H. Kipp would be the last specimen of his art on which he worked prior to his death. John B. Knapp of New York succeeded Mr. Kipp, supervising the erection of the building. The cost of the building was about $200,000.[14] On December 27, 1907, new bronze signs were placed on the First National Bank building, located on either side of the front doorway. The tablets were of cast bronze with raised letters which were highly polished and were 51 inches high by 28 inches wide. The inscription read "First National Bank, United States Depository. Interest paid on savings deposits. Safe deposit boxes for rent." The bank would change its quarters from the old bank building next door on January 1st and would open for business on January 2nd, 1908.[15]

In January 1933, the directors were William W. Inglis, Charles N. Loveland, Fred O. Smith, George R. McLean, William H. Conyngham, Richard Sharpe, C.F. Huber, Francis Douglas, T.R. Hillard, M.G. Shennan, and Edward Griffith.[16] The officers were Wm. H. Conyngham, president; Chas. F. Huber and Geo. R. McLean, vice presidents; Francis Douglas, executive vice president; and M.G. Shennan, vice president and cashier.[17]

Advertisement from September 1957 announcing The First-Second National Bank and Trust Company of Wilkes-Barre.

In July 1957, Maurice G. Sheenan, president of the First National Bank and Thomas H. Kiley, president of the Second National Bank, announced the proposed merger which had been recommended by the directors of the two banks.[18] In August 1957, letters were sent to all Second National Bank shareholders signed by James Mulligan, former Second National president, reasserting the merger with the First National Bank of Wilkes-Barre should be on the basis of seven shares of the joint bank for each Second National share, instead of five for one as proposed by the Second National directors. Shareholders of both banks were scheduled to vote on the merger on September 5th; they approved the consolidation and the merger was set for the close of business September 13th with operations to begin on September 16th. In 1863, the First National Bank of Wilkes Barre was chartered on July 21st and the Second National Bank on September 19th. The newly-formed bank was named The First-Second National Bank and Trust Company of Wilkes-Barre with Maurice G. Shennan, Chairman of the Board and Thomas N. Kiley, President; it had capital of $2 million, surplus of $2,650,000 and demand and time deposits of over $49 million. The new institution had five offices with the main office located on 11 West Market Street, Wilkes-Barre. There were three offices in Wilkes-Barre, one in Kingston and one in Plains.[19][20][21]

The old Main Office of the First-Second National Bank of Wilkes-Barrie at 11 W Market Street. As pictured in 2016, the office was part of PNC Bank. Courtesy of Google Maps

On Thursday, December 26, 1963, the First National Bank of Wilkes-Barre received permission from Comptroller of the Currency James J. Saxon, to purchase White Haven Savings Bank. According to Thomas H. Kiley, president of the Wilkes-Barre banking institution, the purchase would become effective at the close of business on January 3rd. Officers of the White Haven Bank, to be known as White Haven branch office of First National Bank of Wilkes-Barre, would be Ralph Baetz, vice president, who would be in charge of the office, and Burton Schaffer, assistant cashier. The branch office was subject to approval of the comptroller of currency. First National purchased the assets of the White Haven Savings Bank totaling about $2,500,000. With the purchase, First National Bank of Wilkes-Barre had total assets estimated conservatively in excess of $85,000,000.[22]

In January 1971, application was made to the comptroller of the currency for approval to change The First National Bank of Wilkes-Barre to First National Bank of Eastern Pennsylvania. The change became effective on April 1, 1971.[23][24]

On March 31, 1992, First Eastern merged the offices of Peoples First National Bank & Trust Company.[25] On April 3, 1992, First Eastern Bank announced the retirement of Richard M. Ross, Jr., chairman, and the resignation of William R. Mainwaring, president and chief executive officer. On Wednesday, April 15, shareholders were told by Ross at the annual meeting in Wilkes-Barre that despite financial troubles that led the bank to agree to federal regulation, the bank had an optimistic forecast. Last month Ross denied a claim by a lawyer representing a disgruntled stockholder that the FBI is investigating the bank for misstatements. "Despite the difficulties encountered in 1991 and some of the most unfortunate publicity imaginable," Ross said, "we managed to retain our leading market share of 23.7% of deposits in our primary market area." Officials said salaries and benefits were reduced over $700,000 from first quarter of 1991. First Eastern officials signed a formal agreement with federal banking regulators to "safeguard the interests of depositors and correct the "deteriorated condition" of the $2.8 billion company. The comptroller of the currency provided detailed management, lending and administrative guidelines for First Eastern, parent firm of the former Peoples First National Bank and Trust Co. of Hazleton. Ross said there were many fundamental operating strengths including substantial liquidity combined with a strong core funding base and profitable retail banking franchise.[26]

Mergers and titles for Charter 30:

  • 01/03/1964 Merged with White Haven Savings Bank, Jan. 3, 1964
  • 04/1966 Merged with Conyngham National Bank (Charter 13392) April 1966
  • 10/31/1967 Merged with First National Bank of Bloomsburg, October 31, 1967
  • 04/01/1971 Changed Institution Name to The First National Bank of Eastern Pennsylvania.
  • 09/11/1971 Acquired The First-Stroudsburg National Bank (Charter 3632) (FDIC #7769) in Stroudsburg, PA.
The First Eastern Bank logo and tag line from a 1992 advertisement.
  • 11/15/1974 Changed Institution Name to First Eastern Bank, National Association.
  • 11/15/1974 Acquired The Berwick National Bank (Charter 6162) (FDIC #7405) in Berwick, PA.
  • 09/20/1980 Acquired North Scranton Bank and Trust Company (FDIC #11875) in Scranton, PA.
  • 09/15/1984 Acquired Scranton National Bank (Charter 13947) (FDIC #13719) in Scranton, PA.
  • 10/21/1985 Acquired The Portland National Bank (Charter 13606) (FDIC #7705) in Portland, PA.
  • 05/03/1986 Acquired The Hawley Bank (FDIC #9910) in Hawley, PA.
  • 12/04/1986 Acquired Miners Savings Bank of Pittston (FDIC #11120) in Pittston, PA.
  • 03/04/1987 Acquired Peoples Bank of Nanticoke (FDIC #709) in Nanticoke, PA.
  • 10/22/1987 Acquired Liberty Bank of Carbondale (FDIC #8406) in Carbondale, PA.
  • 04/24/1990 Acquired The First National Bank of Wyoming (Charter 8517) (FDIC #7817) in Wyoming, PA.
  • 04/27/1990 Main Office moved to First East Plaza, Public Square, Wilkes-Barre, PA 18701.
  • 03/30/1992 Acquired Peoples First National Bank and Trust Company (Charter 3893) (FDIC #7521) in Hazleton, PA.
  • 06/17/1994 Merged and became part of PNC Bank, National Association (FDIC #7944) in Pittsburgh, PA.
  • 09/06/1996 Merged and became part of Midlantic Bank, National Association (FDIC #6384) in Newark, NJ.

Official Bank Titles

1: The First National Bank of Wilkes Barre, PA

2: The First National Bank of Wilkes Barre, PA (5/31/1911)

3: The First National Bank of Wilkes-Barre, PA [1929]

Bank Note Types Issued

1882 Brown Back $10 bank note with pen signatures of B.W. Marcy, Cashier and E.C. Wadhams, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note with printed signatures of Francis Douglas, Cashier and William S. McLean, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 2 $20 bank note with printed signatures of M.G. Shennan, Cashier and W.H. Conyngham, President. Courtesy of Heritage Auctions, www.ha.com

Charter 30 Bank Note Types Issued:

A total of $9,967,170 in National Bank Notes was issued by charter 30 between 1863 and 1935. This consisted of a total of 812,525 notes (569,384 large size and 243,141 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 - 7100
1: Original Series 3x10-20 1 - 5500
1: Original Series 50-100 1 - 1460
1: Series 1875 4x5 1 - 3930
1: Series 1875 3x10-20 1 - 4018
1: Series 1875 50-100 1 - 400
2: 1902 Date Back 3x10-20 1 - 21000
2: 1902 Plain Back 3x10-20 21001 - 120868
3: 1929 Type 1 6x10 1 - 26310
3: 1929 Type 1 6x20 1 - 7104
3: 1929 Type 2 10 1 - 33595
3: 1929 Type 2 20 1 - 9062


Charter 2736 Bank Note Types Issued:

A total of $3,876,800 in National Bank Notes was issued by charter 2736 between 1882 and 1911. This consisted of a total of 351,554 notes (351,554 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 - 3750
1882 Brown Back 3x10-20 1 - 26169
1882 Brown Back 50-100 1 - 1439
1902 Red Seal 4x5 1 - 8750
1902 Red Seal 3x10-20 1 - 20250
1902 Date Back 4x5 1 - 10750
1902 Date Back 3x10-20 1 - 17500

Bank Presidents and Cashiers

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

Charter 30 Bank Presidents and Cashiers:

Presidents:

Cashiers:


Charter 2736 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

  • Wilkes-Barre, 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 Times Leader, Mon., Oct. 28, 1907.
  2. ↑ The Luzerne Union, Wilkes-Barre, PA, Wed., Nov. 11, 1863.
  3. ↑ The Star of the North, Bloomsburg, PA, Wed., Feb. 10, 1864.
  4. ↑ The Luzerne Union, Wilkes-Barre, PA, Wed., Feb. 12, 1868.
  5. ↑ Carbondale Advance, Carbondale, PA, Sat., Oct. 1, 1864.
  6. ↑ The Scranton Republican, Scranton, PA, Fri., Jan. 2, 1867.
  7. ↑ The Tribune, Scranton, PA, Thu., Jan. 16, 1868.
  8. ↑ Wilkes-Barre Times Leader, Wilkes-Barre, PA, Thu., Jan. 10, 1889.
  9. ↑ Wilkes-Barre Times Leader, Wilkes-Barre, PA, Tue., Mar. 5, 1889.
  10. ↑ The Times Leader, Wilkes-Barre, PA, Mon., Jan. 8, 1906.
  11. ↑ The Times Leader, Wilkes-Barre, PA, Mon., Apr. 9, 1906.
  12. ↑ Wilkes-Barre Times Leader, the Evening News, Wilkes-Barre, PA, Thu., Mar. 22, 1906.
  13. ↑ The Times Leader, Wilkes-Barre, PA, Wed., Feb. 6, 1907.
  14. ↑ The Times Leader, Mon., Oct. 28, 1907.
  15. ↑ The Times Leader, Wilkes-Barre, PA, Sat., Dec. 28, 1907.
  16. ↑ Wilkes-Barre Times Leader, the Evening News, Wilkes-Barre, PA, Tue., Jan. 10, 1933.
  17. ↑ The Times Leader, Wilkes-Barre, PA, Tue., May 9, 1933.
  18. ↑ The Tribune, Scranton, PA, Wed., July 17, 1957.
  19. ↑ Wilkes-Barre Times Leader, The Evening News, Wilkes-Barre, PA, Wed., Aug. 28, 1957.
  20. ↑ Jim Thorpe Times News, Jim Thorpe, PA, Sat., Sep. 7, 1957.
  21. ↑ Wilkes-Barre Times Leader, The Evening News, Wilkes-Barre, PA, Mon., Sep. 16, 1957.
  22. ↑ Standard-Speaker, Hazleton, PA, Sat., Dec. 28, 1963.
  23. ↑ Wilkes-Barre Times Leader, The Evening News, Wilkes-Barre, PA, Mon., Jan. 18, 1971.
  24. ↑ Wilkes-Barre Times Leader, The Evening News, Wilkes-Barre, PA, Fri., Mar. 26, 1971.
  25. ↑ Standard-Speaker, Hazleton, PA, Sat., Apr. 18, 1992.
  26. ↑ Standard-Speaker, Hazleton, PA, Thu., Apr. 16, 1992.
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