First National Bank/Spring Grove NB, Spring Grove, PA (Charter 6536)

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The old Spring Grove National Bank, constructed in 1926 by The Peoples National Bank. At top left detail above the arched entryway with 1906, the opening date of the Peoples National Bank, and 1926, the construction date of the building. At the time of the photo ca2023, the building was used for the Downtown Village Bank Apartments.
The old Spring Grove National Bank, constructed in 1926 by The Peoples National Bank. At top left detail above the arched entryway with 1906, the opening date of the Peoples National Bank, and 1926, the construction date of the building. At the time of the photo ca2023, the building was used for the Downtown Village Bank Apartments. Courtesy of Google Maps ca2023

First National Bank/Spring Grove NB, Spring Grove, PA (Chartered 1902 - Closed (Merger) 1996)

Town History

Spring Grove is a borough in York County, Pennsylvania. The population was 2,372 at the 2020 census. In 1900 the population was 1,005, growing to 1,236 by 1930.

The site of Spring Grove was laid out in 1747 on the banks of Codorus Creek, midway between York and Hanover, by a surveyor for the Penns. Its growth since that time falls into two periods, each lasting approximately 100 years. The first witnessed development of the borough as an iron-making center. The second, which extends to the present day, is as a papermaking center. The businesses of both periods have relied on certain natural resources of the area.

Originally, Spring Grove was a part of Paradise Township and was contained within the boundaries of Lancaster County. York County was formed in 1749 and Jackson Township, including Spring Grove, in 1853. The residents of the community petitioned the County Court in 1882 for incorporation as a borough, and in August of that year their petition was granted.

By the mid-19th century, the manufacturing of iron had grown to a point where almost 200 short tons of iron bar were produced locally each year. By 1851, however, the iron business had been suspended, and its buildings were converted to the manufacturing of paper. Thirteen years later, the plant was purchased by P.H. Glatfelter for $14,000.

Other basic industries, such as brick-making and the manufacture of explosives, have from time to time established themselves in the borough. None, however, have remained as long nor have been as successful as the paper mill. Since 1865, the growth of the borough has reflected growth of the Glatfelter Paper Mill.

Spring Grove had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

  • Organized November 22, 1902
  • Chartered December 17, 1902
  • 1: Assumed 8141 by consolidation May 28, 1932 and its circulation with title change (Peoples National Bank, Spring Grove, PA)
  • 2: Conservatorship Mar 17, 1933
  • 2: Licensed August 22, 1933
  • Bank was Open past 1935
  • For Bank History after 1935 see FDIC Bank History website
  • Merged into Farmers First Bank in Lititz, PA, June 1, 1996

On December 17, 1902, The comptroller of the currency authorized the First National Bank of Spring Grove to commence business. The intention of the directors was to open the doors of the bank on Friday, January 2nd. A.H. Stauffer of Elizabethtown, Lancaster County, was elected cashier. He was conversant in both English and Pennsylvania German and had a number of years' experience in banking. The bank opened for business on Monday, January 12, 1903 with first day deposits aggregating more than $12,000 from over 60 depositors. Since then deposits averaged over $2,000 a day.

In January 1907, the stockholders elected the following directors: W.L. Glatfelter, M.W. Lau, P.H. Glatfelter, Dr. M. Hoke, H.H. Loose, John F. Hershey, Samuel Swartz, Geo. H. Kraft, Dr. L.H. Sterner, George Hoke, and George Snodgrass. The board organized by electing W.L. Glatfelter, president; M.W. Lau, vice president; A.H. Stauffer, cashier, and C.S. Forry, assistant cashier. On Thursday, July 11, 1907, Philip H. Glatfelter, the paper and ice machine manufacturer and philanthropist, died at his home at Spring Grove.

On Tuesday, January 13, 1914, the stockholder re-elected the same board of directors. The directors were: William L. Glatfelter, M.W. Lau, George H. Kraft, Dr. M. Hoke, Rev. H.H. Loose, John F. Hershey, Samuel Swartz, Dr. L.H. Sterner, George Hoke, and George W. Snodgrass.

On Tuesday, April 16, 1929, at a special meeting of the stockholders it was decided to change the par value of the capital stock from $100 to $10 a share. The 500 shares of stock outstanding would be increase to 5,000 shares subject to approval by the comptroller of the currency. Stock of the bank reached a high value at the last public sale when shares were sold at $343. Charles S. Forry, cashier, stated the the lower market value probably would result in a wider distribution and make the stock a more desirable investment one within the reach of the small investor. The bank had resources of more than $1,700,000 and deposits totaling more than $1,400,000. W.L. Glatfelter, paper manufacturer, was president and the Rev. H.H. Loose, vice president.

On Tuesday, January 14, 1930, the directors elected were W.L. Glatfelter, Dr. J.B. Hartman, G.A. Elicker, Lucian H. Swartz, Dr. M. Hoke, H.H. Loose, John F. Hershey, George Hoke, and J.A. Rohrbaugh. On April 30th, Dr. M. Hoke was elected president to succeed the late William L. Glatfelter who had been head of the bank since its organization in 1902. Dr. Hoke was a member of the board also since 1902.

On Tuesday, January 13, 1931, the directors elected were P.H. Glatfelter, Dr. J.B. Harman, G.A. Elicker, L.H. Swartz, Dr. M. Hoke, H.H. Loose, George hoke and J.A. Rohrbaugh. P.H. Glatfelter was the only newly named director being elected to fill the vacancy caused by the deaths of W.H. Glatfelter and John F. Hershey.

On April 19, 1932, the directors of the First National Bank and the Peoples National Bank of Spring Grove resolved to consolidate the two institutions under the name of the Spring Grove National Bank. The directors of the new bank would be Lewis H. Alwine, president, Pennsylvania Knitting Mills Co., Spring Grove; treasurer, Alwine Bros. Brick Co., New Oxford; president Codorus Hosiery Co., York; Charles Baer, farmer; George A. Elicker, assistant store manager, Sears Roebuck Co., York; Franklin Eyser, LaBott; Philip H. Glatfelter, president P.H. Glatfelter Co., Spring Grove; vice president, York Ice Machinery Corp., York; president, Hanover Wire Cloth Co., Hanover; director, Western Maryland Railway Co., Baltimore; Edward E. Hamm, furniture merchant, Hanover; Jennings B. Hartman, druggist, Spring Grove; George Hoke, merchant, Spring Grove; Martin Hoke, physician and surgeon, Spring Grove; H.H. Loose, insurance, Menges Mills; George W. Rohrbaugh, farmer, farm Machinery, Spring Grove; Joseph A. Rohrbaugh, farmer, Porters Sideling; Nathan W. Sechler, optometrist, York; Pierce Stambaugh, P. Stambaugh & Sons, automobiles, Spring Grove; Lucian H. Swartz, ice cream manufacturer, Spring Grove; McClellan Swartz, contractor, Spring Grove. The officers would be P.H. Glatfelter, president; Lewis H. Alwine, vice president; Charles S. Forry, executive vice president and secretary of the board; Adam D. Swartz, cashier; G. Philip Hoke, assistant cashier; and William H. Runk, assistant cashier. The consolidated bank would have resources in excess of $2,250,000.

Effective June 6, 1996, Spring Grove National Bank was merged into Farmers First Bank of Lititz, both subsidiaries of Susquehanna Bancshares, Inc. Susquehanna acquired Spring Grove National in 1987; it had three offices all in York County. Lititz-based Farmers First had 27 offices all in Lancaster County.

Official Bank Title(s)

1: The First National Bank of Spring Grove, PA

2: The Spring Grove National Bank, Spring Grove, PA (5/28/1932)

Bank Note Types Issued

1902 Date Back $20 bank note with printed signatures of A.H. Stauffer, Cashier and W.L. Glatfelter, President.
1902 Date Back $20 bank note with printed signatures of A.H. Stauffer, Cashier and W.L. Glatfelter, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $5 bank note with printed signatures of C.S. Forry, Cashier and Dr. M. Hoke, President.
1929 Type 1 $5 bank note with printed signatures of C.S. Forry, Cashier and Dr. M. Hoke, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 2 $20 bank note with printed signatures of A.D. Swartz, Cashier and P.H. Glatfelter, President
1929 Type 2 $20 bank note with printed signatures of A.D. Swartz, Cashier and P.H. Glatfelter, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $10 bank note with printed signatures of Walter S. Hoke, Cashier and W.A. Allen, President.
1929 Type 2 $10 bank note with printed signatures of Walter S. Hoke, Cashier and W.A. Allen, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,195,770 in National Bank Notes was issued by this bank between 1902 and 1935. This consisted of a total of 147,792 notes (114,660 large size and 33,132 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: 1902 Red Seal 4x5 1 - 2900
1: 1902 Red Seal 3x10-20 1 - 2520
1: 1902 Date Back 4x5 1 - 4225
1: 1902 Date Back 3x10-20 1 - 3120
1: 1902 Plain Back 4x5 4226 - 13856
1: 1902 Plain Back 3x10-20 3121 - 9389
1: 1929 Type 1 6x5 1 - 1650
1: 1929 Type 1 6x10 1 - 808
1: 1929 Type 1 6x20 1 - 202
2: 1929 Type 1 6x5 1 - 232
2: 1929 Type 1 6x10 1 - 476
2: 1929 Type 1 6x20 1 - 96
2: 1929 Type 2 5 1 - 7548
2: 1929 Type 2 10 1 - 3780
2: 1929 Type 2 20 1 - 1020

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1902 - 1935):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Spring Grove, 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
  • The York Dispatch, York, PA, Mon., Dec. 29, 1902.
  • The York Dispatch, York, PA, Mon., Jan. 19, 1903.
  • The York Dispatch, York, PA, Sat., Jan. 12, 1907.
  • The York Dispatch, York, PA, Mon., July 15, 1907.
  • The York Dispatch, York, PA, Wed., Jan., 14, 1914.
  • The York Dispatch, York, PA, Tue., Apr. 16, 1929.
  • The Evening Sun, Hanover, PA, Tue., Jan. 14, 1930.
  • The Evening Sun, Hanover, PA, Tue., Apr. 29, 1930.
  • The Evening Sun, Hanover, PA, Tue., Jan. 13, 1931.
  • York Daily Record, York, PA, Wed., Apr. 20, 1932.
  • Lancaster New Era, Lancaster, PA, Wed., July 3, 1996.
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