First National Bank in Charleroi, PA (Charter 14123)

The old First National Bank in Charleroi at 210 Fifth Street, Charleroi, Pennsylvania, ca2023. Courtesy of Google Maps

First National Bank in Charleroi, PA (Chartered 1934 - Open past 1935)

Town History

Needed: a recent photo of the bank or another postcard.

Charleroi (SHAR-lə-roy) is a borough in Washington County, Pennsylvania, along the Monongahela River, 21 miles south of Pittsburgh. Charleroi was settled by Walloons in 1890 and incorporated in 1891. The 2020 census recorded a population of 4,210. In 1900 the population was 5,930, peaking at 11,516 in 1920. Charleroi got its name from the Belgian city of Charleroi. Many Belgian immigrants lived in the Monongahela area at the end of the 19th century, some of whom were glass makers.

James S. McKean is often referred to as the founder of Charleroi, having established the First National Bank in 1890. He was instrumental in attracting capitalists to locate manufacturing plants there. He was a founder of the Charleroi Plate Glass Company later absorbed into Pittsburgh Plate Glass Company.

The Pittsburgh Plate Glass Company, today PPG Industries, had one of its major factories located at the current chamber plaza, at one point employing up to a thousand workers, making it one of the largest glass factories in the world at the time. For years it was the home to one of Corning Glass Companies leading employers. Today it is home to Corelle Brands, which makes Pyrex. In celebration of the 100th anniversary of Pyrex products, Charleroi renamed itself "Pyrex, PA" for 100 days in 2015.

Charleroi was home to one of the first movie theatres in the nation, the Electric Theatre at 520 McKean Avenue, which opened in October 1905 and has since been demolished. The Charleroi Historic District, First National Bank of Charleroi and United States Post Office are listed on the National Register of Historic Places. The First National Bank of Charleroi was completed in 1922, served a series of banks, and at present (~2023) is home to Ductmate Industries.

Charleroi had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.

Bank History

Organized April 16, 1934
Chartered April 28, 1934
Succeeded 4534 The First National Bank of Charleroi, Pennsylvania
Bank was Open past 1935

In January 1934, stock sales for the new First National Bank "in" Charleroi were underway with Garrett E. Wagner head of the committee in charge of sales. The bank could not open until after $50,000 of stock was sold at $35 per share, thus equaling the amount subscribed by the government. The plan for reopening the bank would release 45% of the accounts frozen in the old bank. In late March 1934, the comptroller of the currency approved the board of directors and officers of the First National Bank. The directors were William C. Clark, Paul W. jenkins, David McCloskey, Charles L. Melenyzer, and Garrett Wagner. They would serve until the first meeting of the new stockholders of the bank. The officers named were William C. Clark, president; David M. McCloskey, first vice president; Garrett E. Wagner, second vice president; and C.S. Bateman, cashier.

In January 1936, the directors were W.C. Clark, D.M. McCloskey, Paul W. Jenkins, C.L. Melenyzer, and Garrett B. Wagner. The officers were W.C. Clark, president; D.M. McCloskey, vice president; Garrett B. Wagner, vice president; and Charles S. Bateman, cashier.

In January 1949, the directors were David M. McCloskey, Charles L. Melenyzer, Garrett E. Wagner, D.H. Johnson, John K. Clark. The officers were David M. McCloskey, president; Garrett E. Wagner, first vice president; Charles L. Melenyzer, second vice president; C.M. Kennedy, cashier; Sara A. Matheson and W.L. Carson, assistant cashiers.

Effective September 8, 1969, the merger of the First National Bank and Trust Company of Washington, Pa., and the First National Bank of Charleroi was completed. The Charleroi bank would operate as a full-service branch of the Washington financial institution with Garrett Wagner as senior vice president in charge. Combined assets of the two banks was estimated to exceed $64 million. W.C. Powers was president of the Washington, Pa. bank.

Official Bank Title

1: First National Bank in Charleroi, PA

Bank Note Types Issued

1929 Type 2 $10 bank note with printed signatures of C.S. Bateman, Cashier and W.C. Clark, President. Courtesy of Heritage Auctions, www.ha.com

A total of $62,820 in National Bank Notes was issued by this bank between 1934 and 1935. This consisted of a total of 8,004 notes (No large size and 8,004 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1929 Type 2	5	1 - 4980
1929 Type 2	10	1 - 2256
1929 Type 2	20	1 - 768

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1934 - 1935):

Presidents:

William Charles Clark, 1934-1935

Cashiers:

Charles S. Bateman, 1934-1935

Other Bank Note Signers

Clair McBeth Kennedy, Cashier 1945-1961

Wiki Links

Sources

Charleroi, 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 Daily Republican, Monongahela, PA, Thu., Jan. 25, 1934.
The Daily Republican, Monongahela, PA, Wed., Mar. 28, 1934.
The Daily Republican, Monongahela, PA, Wed., Jan. 15, 1936.
The Daily Republican, Monongahela, PA, Wed., Jan. 12, 1949.
The Pittsburgh Post-Gazette, Pittsburgh, PA, Mon., Aug. 11, 1969.