National Bank, Chambersburg, PA (Charter 593)

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The old National Bank of Chambersburg
The old National Bank of Chambersburg next to the Central Presbyterian Church on the square in Chambersburg, Pennsylvania. At the time it was home to the Franklin County Visitors Center. Courtesy of Google Maps ca2022

National Bank, Chambersburg, PA (Chartered 1864 - Open past 1935)

Town History

The Bank of Chambersburg Obsolete $1
The Bank of Chambersburg Obsolete $1, Haxby PA-60, with signatures of G.R. Messersmith, Cashier and Wm. Heyser, President. An American Bank Note Co., Philad. engraved note using a vermillion tint and a dynamic layout, with the Gothic title at top center, counters with vermillion surrounds in the upper corners, and vignettes in the lower corners. The center shows a large, white "1" on a vermillion die. In lighter tint are the flanking "1" protectors and the micro-lettered guilloche below. At left, Franklin, seated with legs crossed, appears to have been interrupted while doing research. He uses his right index finger to keep his place in one book, and rests his left hand on perhaps his writing desk. At right, he instructs the child at his knee by discussing a bust of Washington. Courtesy of Heritage Auctions, www.ha.com
first home of the Chambersburg Bank
Sketch published in 1909 showing the first home of the Chambersburg Bank where the Valley Bank stood at that time.[1]

Chambersburg is a borough in and the county seat of Franklin County, in the South Central region of Pennsylvania. It is in the Cumberland Valley, which is part of the Great Appalachian Valley, and 13 miles north of Maryland and the Mason-Dixon line and 52 miles southwest of Harrisburg, the state capital. According to the United States Census Bureau, Chambersburg's 2020 population was 21,903. In 1860 the population was 5,255, growing to 13,788 by 1930.

Chambersburg's settlement began in 1730, when water mills were built at Conococheague Creek and Falling Spring Creek. The town developed on both sides of these creeks. Its history includes episodes relating to the French and Indian War, the Whiskey Rebellion, John Brown's raid on Harpers Ferry, and the Civil War. The borough was the only major northern community burned down by Confederate forces during the war.

Chambersburg is served by the Lincoln Highway, U.S. 30, between McConnellsburg and Gettysburg. U.S. 11, the Molly Pitcher Highway, passes through it between Shippensburg, Pennsylvania, and Hagerstown, Maryland. Interstate 81 skirts the borough to its east. The town lies approximately midpoint on US Route 30 between Pittsburgh and Philadelphia.

Benjamin Chambers, a Scots-Irish immigrant, is credited with settling "Falling Spring" in 1730. He built a grist mill and saw mill by a then-26-foot-high waterfall where Falling Spring Creek joined Conococheague Creek. The creek provided power for the mills, and soon a settlement grew and became known as "Falling Spring".

On March 30, 1734, Chambers received a "Blunston license" for 400 acres from a representative of the Penn family. European settlement in the area remained of questionable legality until the treaty ending the French and Indian War in 1763, because not all Indian tribes with land claims had signed treaties with the British colonial government.

The Penn family encouraged settlement in the area in order to strengthen its case in a border dispute with the Maryland Colony, which had resulted in hostilities known as Cresap's War. This dispute was not settled until 1767, with the border survey that resulted in the Mason-Dixon line. Chambers traveled to England to testify in support of Penn's claims. To maintain peace with the Indians, Penn sometimes arranged for European settlers to be removed from nearby areas. In May 1750, Benjamin Chambers helped remove settlers from the nearby Burnt Cabins.

The area was first classified as part of Chester County, then Lancaster County (as that was created from Chester County's western area). Then Lancaster County was split, with its western portion renamed as Cumberland County; finally another split (this time of Cumberland County) established Franklin County in 1784. (Adams County adjoins it on the east).

Chambersburg had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes. Chambersburg also had one Obsolete Bank that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

The Bank of Chambersburg Obsolete $10
The Bank of Chambersburg Obsolete $10, Haxby PA-60, dated November 7, 1857, with signatures of J. Lesley, Cashier and Joseph Culbertson, President. Courtesy of Heritage Auctions, www.ha.com
  • Organized November 8, 1864
  • Chartered November 30, 1864
  • Succeeded Bank of Chambersburg
  • Absorbed 10899 April 16, 1924 (Fannettsburg NB (No Issue), Fannettsburg, PA)
  • Bank was Open past 1935
  • Merged in 1963 with the Valley National Bank of Chambersburg (Charter 4272) forming the National Valley Bank & Trust Company

Bank of Chambersburg

In August 1809, the citizens of Franklin County published articles of association for the establishment of a bank in Chambersburg with a capital of $250,000 consisting of 2,500 shares of $100 per share; 400 shares thereof for the use of the state to be subscribed in such manner as the Legislature may direct.[2] The institution was organized as the Chambersburg Bank with those articles of association dated the fourth day of September, 1809. In 1814 it became a state bank and was known as the Bank of Chambersburg.[3] 

The Bank of Chambersburg was the second bank organized in the Cumberland Valley; the Hagerstown Bank, incorporated in 1806, preceded it by three years. The urgent demand for banking facilities was early felt in Chambersburg which occupied a favorable position for trade and became the county seat of Franklin County after its separation from Cumberland County in 1784. No charter from the Legislature was obtained at that time and the bank continued to do business under the articles of association dated September 4, 1890, when it was merged into The Bank of Chambersburg created under the Act of Assemble of Pennsylvania passed March 21, 1814. Among the subscribers to the articles of association were James Buchanan of Mercersburg, who doubtless was the father of President James Buchanan, who was afterwards a director of the bank and signed his name James Buchanan, Sr. The first meeting of the board of directors which consisted of Edward Crawford, John Shryock, John Colhoun, Williams M. Brown, John Holliday, Peter Eberly, Jacob Whitmore, Patrick Campbell, James Riddle, Jacob Heyser, and David Fullerton, was held on September 5th. On September 23rd, they were sworn into office. Edward Crawford was elected president and Alexander Colhoun, cashier. The directors decided that the corner room in Edward Crawford's new house was taken for the use of the bank at a rental of $100 annually for the room and cellar. This building stood on the Diamond on East Market Street, opposite the courthouse. The vault was located in the cellar of this building. While a vault was being prepared, the money was kept at night in the dwelling of Mr. Crawford. This was done in an iron chest 2 1/2 feet long by 16 inches deep and 16 inches wide still in the banking house at its 100th anniversary.[4]
Pursuant to an act passed on August 2, 1813, entitled "An act laying duties on notes of banks, bankers and certain companies; on notes bonds & obligations discounted by banks, bankers and certain companies; and on bills of exchange of certain descriptions," an agreement had been made by the Secretary of the Treasury with the Bank of Chambersburg for the payment of an annual composition in lieu of the stamp duty on notes issued by them of 1 1/2 % on the amount of the annual dividend made by the bank to their stockholders.[5]

On October 28, 1813, the president and directors of the Bank of Chambersburg ordered that stockholders pay by the 1st of January 1814 $5 on each share being the 12th installment. A. Colhoun was cashier.[6]

On March 29, 1814, announcement was made that subscription books would be opened on Tuesday, April 27, 1814, at the Courthouse in Chambersburg; at the house of Robert McCune, Innkeeper, in Strasburg; at the house of Mrs. Kyle, Innkeeper, Fannettsburg; at the house of Mrs. Bahn, Innkeeper, Mercersburg; at the house of John Besore, Innkeeper, Greencastle; at the house of Mr. Cochran, Innkeeper, Waynesburg. The shares of stock were $50 each, $5 to be paid at the time of subscribing. The commissioners were John Holliday, John Cox, John Nevin, Andrew Robinson, Patrick Campbell, George Chambers. The commissioners would meet at the house of Mr. Snider, Innkeeper, in Chambersburg on April 2d for purposes relative to said bank.[7] On July 13, 1814, the stockholders of the Bank of Chambersburg elected the following gentlemen directors of that institution: Edward Crawford, James Riddle, Wm. M. Brown, John Thompson, Jacob Snider, Jacob Heyser, Patrick Campbell, John Colhoun, John Holliday, Thomas Brown, Jacob Whitmore, S.D. Culbertson, and John Shryock. The directors unanimously re-elected Edw. Crawford, Esq., president; Mr. Alexander Colhoun, cashier; and appointed Mr. James Ross, clerk.[8] 

The site of the present National Bank was bought for $2,000 and a bank building was erected there in 1829 at a cost of $5,600. This building together with other buildings of the town were destroyed by Confederate troops on July 30, 1864. A special act of Legislature in the same year authorized the cashier to sell up to $20,000 worth of the bank's gold reserve for erection of a new building. In the interval between the loss of the bank by fire and erection of a new building in 1865-66, the Old National carried on business from a private home in Second Street.[9]

On March 6, 1833, Col. Edward Crawford, president of the Bank of Chambersburg, highly respected citizen and a Patriot of the Revolution died at Chambersburg.[10] On March 11th, at a special meeting of the board of directors of the Bank of Chambersburg, John King, Esq., was elected president, succeeding Edward Crawford, Esq., deceased.[11]

On October 2, 1837, James Logan Smith, Esq., of Philadelphia, was appointed cashier of the Bank of Chambersburg in place of Alexander Colhoun, Esq., deceased.[12]

On March 16, 1843, Daniel S. Spangler, Esq., was elected cashier of the Chambersburg Bank in place of J. Logan Smith, deceased.[13]

On May 8, 1845, Mr. Samue Dorwart was elected cashier to fill the vacancy caused by the death of Mr. Daniel Spangler. Mr. Dorwart, however, only lived a few weeks after his election, and on August 7th James Lesley, Esq. was unanimously elected cashier. Mr. Lesley was a man of great force of character and business capacity. Upon assuming his duties he at once made many changes in the manner of keeping books and in the management of the bank. He continued with the bank until October 1858 when he resigned to accept the cashiership of the Union Bank of Philadelphia.[14] James Lesley, Esq. was the former cashier of the Branch Bank of Pennsylvania at Harrisburg. 

ANOTHER POCAHONTAS. Col. STEVENS, who has lately completed survey of the Northern route for a Railroad to the Pacific, thus speaks of Mr. Culbertson and his wife, a native Blackfoot. In May, I met Alexander Culbertson at St. Louis. With an experience matured by 20 years' residence in the Indian country, I found him endowed with the requisite characteristics to carry our expedition safely through Indian territory. Knowing every man in Upper Missouri, he knew just the men wanted, and could secure for us the sturdy hunters we needed for our mountain exploration. Subject to the approval of the Indian Bureau, I appointed him Special Agent among the Blackfeet Indians. Leaving his business, and devoting his energies to the labor, much of our success with the Indians I must ascribe to his valuable influence. His peerless lady, too, a second Pocahontas, commands my hearty thanks for her good offices, is a pure Blackfoot woman, of the 'Blood' tribe, and in all her husband's labors she has shared, securing the affectionate regard of every member of the expedition. Apprehending a possible collision between our men and some of her own people, she asked to accompany us, to assist in preventing difficulty. The night before we left Fort Union she said to her husband, "I will go with you; I will do what I can to settle differences, and when you die I will die." Her presence has alleviated the annoyances of campaign life, and encouraged us on the march. She commands my warmest regard, has her reward in the assurance of the friendly feeling between these children of the plains and the men from the "far off land," whose approach to the country in times past was much dreaded. Mr. CULBERTSON is a son of JOSEPH CULBERTSON, Esq., President of the Bank of Chambersburg. The Washington Star of a recent date, noted his arrival at Washington: AN INTERESTING STRANGER.--Mr. Alexander Culbertson, for twenty years a trapper and trader among the Blackfeet Indians, who recently piloted Gov. Stevens and his command through the Blackfeet country, came to Washington a few days since at the request Gov. S., to accord information to the Government in relation to that tribe.[15] As a result of his expedition, Gov Isaac Stevens wrote a book, "Report of Explorations for a Route for the Pacific Railroad near the 47th and 49th Parallels of North Latitude, from St. Paul, Minnesota, to Puget Sound," (commissioned and published by the United States Congress) (2 vols., Washington, 1855–1860).

In 1857 the bank loaned of its own circulation $15,000 to the Chambersburg Savings Fund and $15,000 to the Waynesboro Savings Fund at 3% interest. These notes were marked with letters "C" and "W", respectively. When these notes returned to the parent bank in sums not less than $500, the borrowing institutions had to take them up in par paper, gold or city drafts at sight. This was for the purpose of keeping their notes in circulation.[16]

In November 1858, the new board of directors of the Bank of Chambersburg was composed of the following gentlemen: Wm. Heyser, Sr., J. Allison Eyster, Wm. McLellan, C.F. Miller, B.S. Schneck, J. Stouffer, John Cressler, A.D. Cauffman, G.W. Immell, S.M. Linn, A.B. Wingert, D. Piper, and D.O. Gehr. The board convened and elected Wm. Heyser, president, and G.R. Messersmith, cashier. The favorable qualifications of the newly elected cashier were noted and that Mr. Heyser possessed all the essential elements of character to make a faithful, competent and popular president for the institution.[17]

On November 18, 1861, an election for directors of the Bank of Chambersburg was held at the banking house and the following gentlemen were chosen: Wm. Heyser, president; Jas. Davison, G.W. Immel, J. McDowell, John Huber, Sam'l Radebaugh, J.C. Eyster, A. Stouffer, W. McLellan, H. Greenawalt, C.M. Duncan, E. Culbertson, and J. Cresslor.[18]

On November 6, 1863, William Heyser, Sr., died at his residence in Chambersburg. Mr. Heyser was a native of Chambersburg and in his youth served an apprenticeship to the tin and copper smith trade and for a number of years carried on the business. A number of years ago he filled the office of County Commissioner. He was the Democratic candidate for Associate Judge of the Court of Common Pleas in 1856 but was unsuccessful. At the time of his death he was president of the Bank of Chambersburg, having been elected to that position on the death of Joseph Culbertson. He was also president of the Chambersburg Gas Co., the Franklin County Insurance Co., and of the Cedar Grove Cemetery Co.[19]

National Bank, Chambersburg

1907 advertisement
A 1907 advertisement for the National Bank of Chambersburg.[20]

On January 10, 1865, the following were elected directors of the National Bank of Chambersburg: Wm. McLellan, Barnard Wolff, Samuel M. Linn, Edmund Culbertson, Wm. L. Chambers, James C. Eyster, and George W. Immell. On the 14th the board unanimously re-elected Wm. McLellan, Esq., president. G.R. Messersmith was cashier.[21] The quarterly reported dated April 3, 1865 showed total resources of $1,361,088.19 with capital $260,000, surplus and building fund $44,128.41, profits $20,589.91 notes of the Bank of Chambersburg $437,257, notes of the National Bank of Chambersburg $208,500 and deposits $382,365.72.[22] Proposals were solicited by G.R. Messersmith, Cashier of the National Bank of Chambersburg, for the erection of a new banking house on the site of the old bank in accordance with plans and specifications in the hands of the cashier.[23]

In July 1866, the unfinished bank building which was to replace the building which had been burned by the Confederate Army, mysteriously caught fire in the second story in the rear, but was extinguished without much damage. A reward of $500 was offered for the arrest and conviction of the person who set it on fire, but the person was never discovered.

On March 24, 1876, an attempt to rob the bank was made by two men calling themselves Rolland and Johnson. Their effort was made about nine o'clock in the evening, but any loss to the bank was prevented by the courage of the cashier, George R. Messersmith, Esq. At that time the cashier and his family occupied the upper rooms in the building as well as the southern half of the lower floor of the back building as a residence. The burglars by artifice succeeded in entering the cashier's private office where he was sitting. He was bound and gagged and, at the point of a pistol, was requested to open the vaults of the bank. Notwithstanding these threats, he made such a struggle and outcry that it alarmed some of the other members of the household and persons passing on the street. These came to the assistance of Messersmith, and Rolland was captured before he succeeded in leaving the bank premises. Johnson, his confederate, was taken the following morning near Mercersburg. Both these men were sentenced to long terms in the Eastern Penitentiary. Rolland died there and Johnson, having served his term of six years, was released[24] On November 26, 1876, Ralph L. Rolland, a prisoner confined in the Franklin County Jail, escaped. B. Johnson was tried alone due to the absence of Rolland and found guilty. Judge Rowe sentenced Johnson to 6 years and four months on the second count of the indictment and three years and ten months on the third count in the Eastern Penitentiary, both sentences to run concurrently.[25]

In January 1877, the directors were Edmund Culbertson, Geo. W. Immel, Samuel M. Linn, John P. Culbertson, W.S. Stenger, James D. Scott, and Samuel Garver. The officers were Edmund Culbertson, president; George R. Messersmith, cashier; John S> McIlvaine, assistant cashier; Wm. H. Sellers, teller; John M. Gilmore, bookkeeper; and Augustus Bickley, messenger.[26]

The trial of Louis C. Claremont, alias Maj. Ralph L. Rolland, was the event of the week for the last week of February 1877. On Thursday, March 1st when the prisoner was arraigned, the courtroom was crowed almost to suffocation. He was indicted on two counts, one for burglary and the second for entering a dwelling house with intent to steal. The defendant pleaded "Not Guilty," whereupon the Clerk proceeded to call a jury. George R. Messersmith, cashier of the National Bank of Chambersburg, was the first witness. He detailed the circumstances which led to the almost tragic event in the cashier's room on the night of March 24, 1876, when Ralph L. Rolland and Johnson gained an entrance to his room in the guise of a friendly call, culminating in an attempt to gag the cashier and rob the institution. Rolland was arrested with $30,000 in his possession and Johnson who had escaped that night was arrested by ex-Sheriff Greenawalt near Mercersburg the next morning. Rolland was sentenced to eight years in the penitentiary for burglary. The next day the Grand Jury returned two new bills against Ralph L. Rolland, one for larceny and the other for jail-breaking.[27]

On Friday, April 26, 1889, William L. Chambers died at his residence on North Main Street after an illness of six weeks. Until the early part of March, although in feeble health, he had regularly attended to his business duties and spent several hours each day at the National Bank. A graduate of Yale College, he was one of the most brilliant lawyers of his day in Pennsylvania, and a vigorous and able Judge. His great-grandfather Benjamin Chambers was the first white person to take up his abode in what became known as Chambersburg in 1729. In 1764 he laid out the town that now bears his name. William L. Chambers was a Trustee of Wilson College since its organization and was one of the most liberal contributors to that institution. In November 1862 he was elected a director of the Bank of Chambersburg and served until January 1873, then the National Bank of Chambersburg. He was again elected a director in January 1880, serving until his death. On March 19, 1883, he was elected its president. He was a director of the B&CVRR since that road was built. He was survived by his wife, Emiline, a daughter of Judge Jas. J. Kennedy and sister of Col. Thos. B. Kennedy, and three children.[28]

Sketches of officers re-elected in January 1893
Sketches of officers re-elected in January 1893. From left to right, S.M. Linn, president; T.B. Wood, vice president; and J.S. McIlvaine, cashier.

On Tuesday, January 10, 1893, the stockholders re-elected the entire board. The directors re-elected S.M. Linn, president; T.B. Wood, vice president; and J.S. McIlvaine, cashier.[29]

On Tuesday, January 12, 1904, at the National Bank of Chambersburg, these directors were chosen: S.M. Linn, Hon. W. Rush Gillan, Walter K. Sharpe, Johnston McLanahan, George A. Wood, George W. Britsch and J. Watson Craig.[30]

On Tuesday, January 10, 1905, The National Bank of Chambersburg held its election from 2 to 4 p.m. W.A. Susong, C.P. Miller and J.M. Craig were the election board. S.M. Linn was elected president and S.M. Linn, W. Rush Gillan, Geo. A. Wood, Walter K. Sharpe, J. Watson Craig, Dr. J. McLanahan, and George W. Britsch, directors.[31] On Thursday morning, September 21st, directors elected Hon. W. Rush Gillan as president to succeed the late Samuel M. Linn. Mr. Gillan had been vice president and to fill the vacancy caused by his election, Mr. George A. Wood was chosen as vice president.[32] Hon. Gillan was also president of the Chambersburg, Greencastle and Waynesboro Electric Railway Company.[33]

On Tuesday, January 13, 1914, the stockholders re-elected the following directors: Johnston McLanahan, Geo. A. Wood, Walter K. Sharpe, E.E. Martin, H.H. Huber, J.W. Rearick, T.Z. Minehart, T.M. Mahon, and C.P. Miller. The bank had just paid its 101st dividend since taking out a national charter. It had capital $130,000, surplus and undivided profits 154,070.25, circulation $71,000, deposits $687,434.82, and since organization in 1809, had paid dividends totaling $2,025,108.80.[34] The officers elected were Geo. A. Wood, president; Walter K. Sharpe, vice president; R.H. Passmore, cashier.[35]

In July 1918, John O. Bessor, a teller in the National Bank of Chambersburg, resigned his position. This followed the resignation of Cashier R.H. Passmore who resigned to accept a similar positing in New York City.[36] Roy H. Passmore, a young man formerly a resident of Kinzer and who filled his first position as cashier of the bank at Christiana, afterwards cashier of the National Bank of Chambersburg, was an assistant cashier with the National Bank of Commerce in New York City, second largest bank in the United States.[37] 

On Tuesday, February 12, 1924, the directors of the Fannettsburg National Bank met to elect a cashier to succeed Elmer Walker, who died Saturday, February 9th. They chose George Crouse Gury who recently entered the National Bank Chambersburg to take the place of Chambers Goshorn. Mr. Gury would take up his new work as soon as he could arrange to leave the local bank. The directors created the position of assistant cashier and elected C.L. Walker to fill it. Mr. Walker was a brother of the late cashier. George H. Bartle, business manager of Wilson College, was president of the Fannettsburg bank.[38] The attractive little mountain town of Fannettsburg, the capitol of Metal Township (Path Valley) had a state bank since 1910. In 1916, Mr. Bartle, the president, purchased the Markey and Walker property, corner of Main and High Streets and had the building put into condition for the new Fannettsburg National Bank, the former site of the old hotel property being abandoned. R.W. McAllen was the vice president and S.E. Walker, cashier.[39]

On December 1, 1959, coinciding with completion of a new facade for the Memorial Square building that had housed the bank since the immediate post-Civil War period, the bank celebrated its sesqui-centennial the bank hosted a dinner for a party of 70 gathered at Hitching Post Inn with Judge Edmund C. Wingerd reviewing mileposts in the banking institution's first 100 years. President Paul Walker recalled that Judge Wingerd was a director of the bank from 1925 until 1946 and its solicitor for 20 years, and had blood ties with two of the earlier presidents of the bank. Both his great-grandfather, Joseph Culberson, and his grandfather, Edmund Culbertson, held the office. Judge Wingerd said that the Chambersburg Bank at first was unincorporated and in reality was a private bank. The Legislature in 1814 passed an unusual general act applying to all banks of Pennsylvania with Franklin County allocated two banks, the Chambersburg Bank being one and the Farmers & Merchants Bank of Greencastle the other.[40]

Community State Bank, St. Thomas Office
A photo from August 2022 of the Community State Bank, St. Thomas Office at 6962 Lincoln Way W, St. Thomas, Pennsylvania. The National Valley Bank and Trust Company of Chambersburg opened a branch here in 1969. Courtesy of Google Maps

On Tuesday, January 8, 1963, all 13 directors of the National Bank of Chambersburg were re-elected at the annual stockholders meeting. Returned as board members were Harry H. Huber, John B. Baumgardner, Paul Walker, Charles O. Wood, Jr., Frank C. Walker, Harold C. Gabler, Daniel W. Long, Harry D. Harvie, C. Earl Brown, George E. Hall, G.A.W. Stouffer, Paul E. White, and Robert E. Graham.[41] On Thursday the 10th at the reorganization meeting, Charles E. Wiestling, an employee of the bank for 40 years was elected vice president, cashier and secretary. Since his initial employment with the Old National, Wiestling had worked in each of its departments being elected assistant cashier in 1943 and cashier and secretary in 1954. Samuel K. Sollenberger was elected an assistant cashier in charge of the note department. Sollenberger, a native of Chambersburg area, had been with the Old National since 1955 upon graduation from the local high school. Richard L. Bitner was elected auditor. He served as manager of the Philadelphia Avenue branch upon its opening in 1960. Other officers re-elected were W.H. Fisher, honorary chairman of the board; Paul Walker, chairman of the board; Robert E. Graham, president; G.A.W. Stouffer, executive vice president; Charles O. Wood, Jr., Harry H. Huber, and John B. Baumgardner, vice presidents, Robert V. Querry, assistant cashier, assistant secretary; Samuel W. Worley, trust officer; and Rober L. Zeis, assistant cashier in charge of installment loans. Re-elected as managers of the branches were Charles H. Small, Guilford Hills; Winfield E. Taylor, Wayne Avenue; Wilbur E. Wilson, Philadelphia Avenue; and Glenn H. Garnes, Fort Loudon.[42]

On Friday, April 19, 1963, R.P. Zimmerman, president the Valley National Bank of Chambersburg, and Robert E. Graham, president of the National Bank of Chambersburg, disclosed in a joint announcement today that action looking to the merger of the two banking institutions had been taken by the boards of directors of each bank. It was contemplated that the banks will be merged under the charter of the National Bank of Chambersburg and under the name of the National Valley Bank and Trust Company. The plan of merger, subject to approval by the Comptroller of the Currency and to the stockholders of both institutions, contemplated an exchange of stock. Personnel of both institutions will be retained under the merger plan. While many details remained before the merger could be undertaken, it was expected that all offices of the merging banks would continue to be operated as at present. Each bank maintained its main banking rooms in Memorial Square. In addition, the National Bank of Chambersburg operated five branch offices at Wayne Avenue, Philadelphia Avenue, Fort Loudon, Guilford Hills and Lincoln Way West. The Valley National operated branches at Dry Run, Lemasters, and Lincoln Way East and a facility at Letterkenny Army Depot. The "Old National", which was chartered in 1809, was the second oldest banking institution in Pennsylvania and the 31st oldest in the nation. The Valley National Bank was chartered in 1890. The combined assets of the two institutions were in excess of $40,000,000.[43]

December 1993 advertisement for Valley Bank and Trust Company
A December 1993 advertisement for Valley Bank and Trust Company.[44]

On February 4, 1969, Samuel A. Tarquino was named to manage the National Valley Bank and Trust Company's newly-constructed St. Thomas office.[45] On Friday, January 2, 1970, the National Valley Bank and Trust Company, second oldest bank in Pennsylvania, became Valley Bank and Trust Company. In an unveiling ceremony at the main office, Harry H. Huber, senior member of the bank's board of directors uncovered the new sign which was being installed at all of the bank's 13 locations. Assisting in the ceremony were R.P. Zimmerman, chairman of the board, and Robert E. Graham, president, as well as members of the board of directors and other officials of the bank. On August 29th, the shareholders voted in favor of a proposal to form a one-bank holding company, charter a new state bank, and merge the then National Valley Bank and Trust Company into the newly chartered institution. The holding company was known as National Valley Corp., a Pennsylvania corporation, and was authorized to engage in general business activities including providing certain financial services. The new bank was not a member of the Federal Reserve System, thus permitting it to invest more of its assets, resulting in a greater realization of profits than under the National Bank System. The bank continued as a member of the Federal Deposit Insurance Corporation and its deposits would thus be insured to a maximum of $20,000 for each depositor. Total assets reported at the end of 1968 were $58,952,196.39, a record. Another record was recorded at the end of 1969 with assets reaching $67,800,000.[46]

In December 1993, Valley Bancorp Inc. received final approval for its merger into Dauphin Deposit Corp. which would be effective on Saturday, January 1st, 1994. The FDIC approved the merger which had received unanimous approval from shareholders of Valley Bancorp, the parent company of Valley Bank and Trust Co. John C. Brugler, president of Valleybank, said the merge into the area's largest independent bank holding company would allow the bank to provide a wider array of products and services.[47]

In January 1994, Valleybank and Dauphin Deposit Bank merged forming the Valleybank Division of Dauphin Deposit and Trust Company.[48]

Official Bank Title

1: The National Bank of Chambersburg, PA

Bank Note Types Issued

Original Series $5 bank note
Original Series $5 bank note with pen signatures of G.R. Messersmith, Cashier and E. Culbertson, President. Courtesy of Heritage Auctions, www.ha.com
1882 Brown Back $5 bank note
1882 Brown Back $5 bank note with pen signatures of J.S. McIlvaine, Cashier and S.M. Linn, President. Courtesy of Heritage Auctions, www.ha.com
1902 Red Seal $10 bank note
1902 Red Seal $10 bank note with pen signatures of J.S. McIlvaine, Cashier and George A. Wood, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Plain Back $10 bank note
1902 Plain Back $10 bank note with a Radar SN and stamped signatures of G.A.W. Stouffer, Cashier and Charles O. Wood, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $5 bank note
1929 Type 2 $5 bank note with printed signatures of G.A.W. Stouffer, Cashier and Charles O. Wood, President. This is a Replacement note. Courtesy of Heritage Auctions, www.ha.com

A total of $4,081,950 in National Bank Notes was issued by this bank between 1864 and 1935. This consisted of a total of 404,540 notes (260,152 large size and 144,388 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
Original Series 4x5 1 - 9250
Original Series 3x10-20 1 - 6100
Series 1875 4x5 1 - 2500
Series 1875 3x10-20 1 - 5700
1882 Brown Back 4x5 1 - 1243
1882 Brown Back 3x10-20 1 - 7015
1902 Red Seal 3x10-20 1 - 3400
1902 Date Back 3x10-20 1 - 4900
1902 Plain Back 3x10-20 4901 - 29830
1929 Type 1 6x5 1 - 8850
1929 Type 1 6x10 1 - 7168
1929 Type 1 6x20 1 - 1846
1929 Type 2 5 1 - 21264
1929 Type 2 10 1 - 12238
1929 Type 2 20 1 - 3702

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Chambersburg, 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 Franklin Repository, Chambersburg, PA, Wed., Nov. 24, 1909.
  2. ↑ Lancaster Intelligencer, Lancaster, PA, Tue., Aug. 8, 1809.
  3. ↑ The Wall Street Journal, New York, NY, Tue., July 12, 1910.
  4. ↑ The Franklin Repository, Chambersburg, PA, Wed., Nov. 24, 1909.
  5. ↑ The Franklin Repository (Weekly), Chambersburg, PA, Tue., Jan. 4, 1814.
  6. ↑ The Franklin Repository (Weekly), Chambersburg, PA, Tue., Dec. 21, 1813.
  7. ↑ The Franklin Repository (Weekly), Chambersburg, PA, Tue., Mar. 29, 1814.
  8. ↑ The Franklin Repository (Weekly), Chambersburg, PA, Tue., July 26, 1814.
  9. ↑ Public Opinion, Chambersburg, PA, Wed., Dec. 2, 1859.
  10. ↑ The Adams Sentinel, Gettysburg, PA, Mon., Mar. 11, 1833.
  11. ↑ The Franklin Repository (Weekly), Chambersburg, PA, Tue., Mar. 19, 1833.
  12. ↑ The Franklin Repository (Weekly), Chambersburg, PA, Tue. Oct. 10, 1837.
  13. ↑ Franklin Repository and Chambersburg Whig, Chambersburg, PA, Thu., Mar. 30, 1843.
  14. ↑ The Franklin Repository, Chambersburg, PA, Wed., Nov. 24, 1909.
  15. ↑ Franklin Repository and Chambersburg Whig, Chambersburg, PA, Wed., Jan. 4, 1854.
  16. ↑ The Franklin Repository, Chambersburg, PA, Wed., Nov. 24, 1909.
  17. ↑ Valley Spirit (Weekly), Chambersburg, PA, Wed., Nov. 24, 1858.
  18. ↑ Valley Spirit (Weekly), Chambersburg, PA, Wed., Nov. 27, 1861.
  19. ↑ Valley Spirit (Weekly), Chambersburg, PA, Wed., Nov. 11, 1863.
  20. ↑ People's Register, Chambersburg, PA, Fri., July 12, 1907.
  21. ↑ The Franklin Repository, Chambersburg, PA, Wed., Jan., 25, 1865.
  22. ↑ The Franklin Repository, Chambersburg, PA, Wed., Apr. 12, 1865.
  23. ↑ The Franklin Repository, Chambersburg, PA, Wed., Apr. 19, 1865.
  24. ↑ The Franklin Repository, Chambersburg, PA, Wed., Nov. 24, 1909.
  25. ↑ Saturday Local, Chambersburg, PA, Sat., Dec. 16, 1876.
  26. ↑ The Franklin Repository (Weekly), Chambersburg, PA, Wed., Jan. 10, 1877.
  27. ↑ Public Weekly Opinion, Chambersburg, PA, Tue., Mar. 6, 1877.
  28. ↑ The Valley Spirit (Daily), Chambersburg, PA, Fri., Apr. 26, 1889.
  29. ↑ The Franklin Repository, Chambersburg, PA, Wed., Jan. 18, 1893.
  30. ↑ People's Register, Chambersburg, PA, Fri., Jan. 15, 1904.
  31. ↑ The Franklin Repository, Chambersburg, PA, Wed., Jan. 11, 1905.
  32. ↑ Franklin Repository (Daily), Chambersburg, PA, Thu., Sep. 21, 1905.
  33. ↑ Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 10, 1905.
  34. ↑ Franklin Repository (Daily), Chambersburg, PA, Tue., Jan. 13, 1914.
  35. ↑ Franklin Repository (Daily), Chambersburg, PA, Thu. Jan. 22, 1914.
  36. ↑ Waynesboro Record, Waynesboro, PA, Wed., July 3, 1918.
  37. ↑ Lancaster New Era, Lancaster, PA, Thu., Dec. 19, 1918.
  38. ↑ Public Opinion, Chambersburg, PA, Fri., Feb. 15, 1924.
  39. ↑ Public Opinion, Chambersburg, PA, Mon., May 22, 1916.
  40. ↑ Public Opinion, Chambersburg, PA, Wed., Dec. 2, 1959.
  41. ↑ Public Opinion, Chambersburg, PA, Wed., Jan. 9, 1963.
  42. ↑ Public Opinion, Chambersburg, PA, Thu., Jan. 10, 1963.
  43. ↑ Public Opinion, Chambersburg, PA, Fri. Apr. 19, 1963.
  44. ↑ Public Opinion, Chambersburg, PA, Sat., Dec. 18, 1993.
  45. ↑ Public Opinion, Chambersburg, PA, Sat., Feb. 4, 1984.
  46. ↑ Public Opinion, Chambersburg, PA, Fri., Jan. 2, 1970.
  47. ↑ Public Opinion, Chambersburg, PA, Wed., Dec. 29, 1993.
  48. ↑ Public Opinion, Chambersburg, PA, Mon., Jan. 17, 1994.
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