National Bank/First NB, White River Junction, VT (Charter 3484)

Postcard of the First National Bank of White River Junction, Vermont, located at South Main Street and Depot Avenue. Courtesy of Adam Stroup

National Bank/First NB, White River Junction, VT (Chartered 1886 - Closed (Merger) 1978)

Town History

The old First National Bank of White River Junction, Vermont. Courtesy of Google Maps ca2024

White River Junction is an unincorporated village and census-designated place (CDP) in the town of Hartford in Windsor County, Vermont. It takes its name from the White River, which joins with the Connecticut River there. The village includes the White River Junction Historic District, a historic district listed on the National Register of Historic Places in 1980. The district is bounded by the Central Vermont railroad tracks, Gates Street, and South Main Street. Notable buildings include the Coolidge Hotel, the First National Bank building, a U.S. Post Office building, and the White River Junction Fire House, showing examples of Greek Revival, Colonial Revival, Richardsonian Romanesque, Italianate, and Romanesque architecture. The population was 2,528 at the 2020 census, up from 2,286 in 2010, making it the largest community within the town of Hartford.

The village has long had a role in transportation, primarily as a railroad junction. From the arrival of the first railroads in the late 1840s until rail diminished in importance in the 1950s and 1960s, White River Junction was the most important railroad community in Vermont. Its original importance was due to its location at the confluence of the White River with the Connecticut River. In 1803 Elias Lyman built a bridge across the Connecticut from the north bank of the White River to West Lebanon, New Hampshire.

The local population remained quite low until the arrival of the railroad in the 1840s. Five different railroad lines were laid through the village site between 1847 and 1863 (the Vermont Central Railway and Connecticut River Railroad in 1847, the Connecticut and Passumpsic Rivers Railroad in 1848, the Northern New Hampshire Railroad in 1849, and the Woodstock Railroad in 1863), creating an eight-track crossing that was served by 50 passenger trains daily. In 1849, the village's first railroad depot was built, and local farmer Samuel Nutt arranged to buy and dismantle a hotel in Enfield, New Hampshire, and move it to his farm on the other side of the railroad tracks from the depot. His hotel, named the Junction House, was the first of three hotels to occupy the site, which now is home to the Coolidge Hotel, built in 1924.

The village is only a five-minute drive from Hanover, New Hampshire, which hosts Dartmouth College and nearly equidistant from major cities and towns such as Rutland, Montpelier, St. Johnsbury, Brattleboro, Keene, and Concord. All are about a one-hour drive from the village.

White River Junction had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

January 1910 advertisement for the National Bank of White River Junction, Vermont.

A February 1910 advertisement announcing the title change to the First National Bank of White River Junction, Vermont.

A 1915 advertisement for the First National Bank and Inter-State Trust Company of White River Junction, Vermont.

• Organized February 16, 1886
• Chartered April 9, 1886
• Bank was Open past 1935
• For Bank History after 1935 see FDIC Bank History website
• Merged into Inter-State Trust Company in White River Junction, VT, January 1, 1978

On Saturday afternoon, February 6, 1886, at the first meeting of the stockholders of the new "National Bank of White River Junction," held at the Junction House, the following were elected directors: George W. Gates, George W. Smith, and George W. Barnes of White River Junction; Ephraim Morris of Hartford; and Wyman Pattee of Enfield, New Hampshire. The Capital stock was $50,000. The directors met immediately following the stockholders' meeting and elected Geo. W. Smith, president; Geo. W. Gates, vice president; and J.L. Bacon, cashier. John L. Bacon was the cashier of the Chelsea Bank. The directors were engaged in selecting a location and making arrangements for opening the bank. The location decided on was in Smith's Block then occupied by Dr. Daley, next door to The Valley Sun.

In January 1891, the bank had capital $100,000, Surplus and profits $10,000, and Geo. W. Smith, president; E. Morris, vice president; and J.L. Bacon, cashier.

On Tuesday, January 11, 1910, stockholders re-elected the former board of directors consisting of Robert E. Smith, James W. Pattee, Leonard D. Wheeler, Howard J. Miller, and William W. Russell. It was voted to change the title of the bank from the National Bank of White River Junction to First National Bank of White River Junction, the change to take effect on the approval of the comptroller of the currency. The officers were Robert E. Smith, president; James W. Pattee, vice president; and William W. Russell, cashier.

In January 1911, an act to incorporate the Inter-State Trust Company at White River Junction was passed by the Vermont Legislature.Rutland Daily Herald, Rutland, VT, Mon., Jan. 16, 1911. The new institution opened in April 1912 in rooms of the First National Bank building at the Junction.

In March 1912, Springfield's former popular hotel man, Edward A. Davis of Bethel, assistant cashier of the White River National Bank and a strong Taft man, was one of the leading candidates for Second District delegate to the National Republican Convention at Chicago.

In February 1916, W.W. Russell, cashier for several years, resigned his position to accept one with the National Life Insurance Company of Montpelier where he would be employed in the treasurer's department. He had considerable experience in the insurance business. When John Bacon was insurance commissioner, Mr. Russell was the deputy commissioner having almost full charge of the department.

On Tuesday afternoon, January 8, 1918, the annual meetings of the First National Bank and of the Inter-State Trust Company were held in the directors' room of the dual interests to elect officers for the ensuing year. For the First National, Leonard D. Wheeler, head of the Wheeler Bros. Corporation, White River Junction, was elected president, while James W. Pattee of Enfield, New Hampshire, was re-elected vice president. The board of directors was Howard J. Miller of North Hartland, William A. Barron, manager of the Crawford House, New Hampshire; Judge Arthur G. Whitham of South Royalton, Edwin E. Smith and Charles L. Le Bourveau. Mr. Smith was the son of the late Robert E. Smith who served as president for several years. At the meeting of the Interstate Trust Company, Howard J. Miller was elected president; Leonard D. Wheeler, vice president; James W. Pattee, Arthur G. Whitham, and Edwin E. Smith, trustees; and C.L. Le Bourveau, secretary and treasurer. The new president of the First National Bank, Mr. Wheeler, was a native of East Montpelier where he was born in 1860. When he was four years old, the family moved to Randolph and he lived there until he was 21 years old when he went to White River Junction. Besides his other business interests, Mr. Wheeler was treasurer of the Ottaquechee Woolen Co. of North Hartland.

A 1978 advertisement for First Inter-State Bank a combination of the First National Bank and the Inter-State Trust Company.

• 01/01/1978 Merged and became part of Inter-State Trust Company (FDIC #14171) in White River Junction, VT.
• 06/16/1983 Changed Institution Name to First Twin-State Bank.
• 08/08/1991 Merged and became part of Proctor Bank (FDIC #14163) in Rutland, VT.
• 10/25/1991 Changed Institution Name to Green Mountain Bank.
• 07/18/1997 Closed voluntarily and liquidated its assets.

Official Bank Titles

1: The National Bank of White River Junction, VT

2: The First National Bank of White River Junction, VT (1/20/1910)

Bank Note Types Issued

1882 Brown Back $5 bank note with pen signatures of John L. Bacon, Cashier and George W. Smith, President. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $10 bank note with pen signatures of Charles L. Le Bourveau, Cashier and Leonard D. Wheeler, President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $10 bank note with printed signatures of Everett J. Eaton, Cashier and Charles L. Le Bourveau, President. Courtesy of Heritage Auctions, www.ha.com

A total of $2,483,740 in National Bank Notes was issued by this bank between 1886 and 1935. This consisted of a total of 285,386 notes (251,288 large size and 34,098 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1: 1882 Brown Back	4x5	1 - 18675
1: 1882 Brown Back	3x10-20	1 - 4180
1: 1902 Red Seal	4x5	1 - 2000
1: 1902 Red Seal	3x10-20	1 - 1600
1: 1902 Date Back	4x5	1 - 1443
1: 1902 Date Back	3x10-20	1 - 1444
2: 1902 Date Back	4x10	1 - 10050
2: 1902 Plain Back	4x10	10051 - 33480
2: 1929 Type 1	6x10	1 - 5683

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1886 - 1935):

Presidents:

• George Williston Smith, 1886-1904
• Solon Franklin Frary, 1905-1906
• John Lement Bacon, 1907-1908
• Robert E. Smith, 1909-1917
• Leonard Douglas Wheeler, 1918-1929
• Charles L. Le Bourveau, 1930-1935

Cashiers:

• John Lement Bacon, 1886-1906
• William Wallace Russell, 1907-1915
• Charles L. Le Bourveau, 1916-1929
• Everett J. Eaton, 1930-1935

Other Known Bank Note Signers

• Edward A. Davis, Assistant Cashier 1912...1914

Bank Note History Links

• National Bank/First NB, White River Junction, VT History (NB Lookup)
• Vermont Bank Note History (BNH Wiki)

Sources

• White River Junction, VT, 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