New Cumberland NB, New Cumberland, PA (Charter 7349)

From Bank Note History
Jump to navigation Jump to search
A photo of the New Cumberland National Bank ca1900s
A photo of the New Cumberland National Bank ca1900s. Source: Pennsylvania Photos and Documents

New Cumberland NB, New Cumberland, PA (Chartered 1904 - Open past 1935)

Town History

A photo of the New Cumberland National Bank published in 1906.
A photo of the New Cumberland National Bank published in 1906.

New Cumberland is a borough in easternmost Cumberland County, Pennsylvania. New Cumberland was incorporated on March 21, 1831. The borough is noted for its historic downtown which includes landmarks like the historic West Shore Theater, Borough Park and the yearly Apple Festival, which gathers hundreds of vendors and thousands of visitors. The population was 7,507 at the 2020 census. In 1900 the population was 1,035 growing to 4,283 by 1930.

New Cumberland is part of the Harrisburg–Carlisle metropolitan statistical area. It borders the western bank of the Susquehanna River in South Central Pennsylvania. It is bordered to the south by Yellow Breeches Creek, across which is York County, the New Cumberland Defense Depot, and the Capital City Airport. To the west is Lower Allen Township, and to the north is the borough of Lemoyne. New Cumberland is situated along the southern edge of the Cumberland Valley.

New Cumberland had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

PNC Bank located at 331 Bridge Street, New Cumberland, site of the New Cumberland Bank formed in 1938.
PNC Bank located at 331 Bridge Street, New Cumberland, site of the New Cumberland Bank formed in 1938. Courtesy of Google Maps, ca2023
  • Organized July 19, 1904
  • Chartered August 4, 1904
  • Bank was Open past 1935
  • Merged with the New Cumberland Trust Company with title change to New Cumberland Bank operating under a state charter, December 21, 1938

Stockholders of the New Cumberland National Bank met on July 19, 1904, and elected the following directors: Edward Bailey, George W. Reily, Ed. S. Herman, Joseph Baughman, and J.H. Reiffe. The board subsequently organized by electing the following officers: Ed. S. Herman, president; and George W. Reily, cashier. The capital stock was $25,000. Mr. Herman was head of the big cigar factory at New Cumberland and was identified with other interests there. Other officials were connected with the Harrisburg Trust Company.

On August 4, 1904, the New Cumberland National Bank, the first banking institution of that town, was authorized to commence business and would open as soon as the new building was ready for occupancy. The bank purchased the lot belonging to G.W. Buttorff on Bridge Street as the site for the banking house. The existing building occupied by Mr. Snyder would be moved to the adjoining lot. On October 5, the employees of the Herman cigar factory were paid with notes issued by the New Cumberland National Bank, the first of the money to go into circulation. The notes had the signatures of E.S. Herman, president and George W. Reily, cashier. The brick work was underway and the Hummelstown Brownstone Company commenced putting in the stone work at the new bank.

In January 1905, the new New Cumberland National Bank invited the public to inspect the bank on opening day, Wednesday, January 4, 1905. The vault of the bank was just completed and finishing touches were done on the big safe. The officers were Edwin S. Herman, president; George W. Reily, cashier and F.E. Coover, assistant cashier. On opening day the entire directorate of the bank met the citizens of the town and welcomed them to the new bank. Despite the snowstorm, sixty depositors enrolled and over $32,000 was deposited that day. The directors were Messrs. Hermand and Reily of Harrisburg; J.J. Baughman, R.M. Kline, and J.H. Reiff of New Cumberland. The town boasted many industries including a hosiery mill, cigar factory, art factory, mattress factory a large green house, two bakeries a millinery store, printing office a clothing store and several hundred new houses.

In July 1906, the directors were E.S. Herman, Edw. Bailey, G.W. Reily, J.J. Baughman, R.M. Kline, and J.H. Reiff. E.S. Herman was president and F.E. Coover, cashier. The capital was $25,000, undivided profits $3,203.13, circulation $25,000, with deposits of $173,058.04.

In January 1916, the directors were Edward Herman, George W. Reiley, J.J. Baughman, S.F. Prowell, F.E. Coover, and J.H. Reiff. The officers were Edward S. Herman, president; and F.E. Coover, cashier.

In January 1924, the directors were President Edward Herman, Cashier F.E. Coover, George W. Reily, S.F. Prowell, H.F. Kohr, and J.H. Reiff.

On Tuesday, January 14, 1930, the stockholders elected the following directors: Ed. S. Herman and George W. Reily, Harrisburg; H.F. Kohr, Samuel S. Prowell, Jacob H. Reif, S.E. Coover all of New Cumberland.

In January 1931, all officers were re-elected. Edward S. Herman was re-elected president; H.F. Kohr, vice president; F.E. Coover cashier; and S.K. Sterline, assistant cashier.

In January 1938, R.B. Updegraff was elected to the board of the New Cumberland National Bank to succeed the late S.F. Prowell. Other members of the board were re-elected as follows: Ed S. Herman, Harrisburg; H.F. Kohr, F. Parker Buttorff, and Frank E. Coover. On January 17th, directors re-elected Ed S. Herman, president; H.F. Kohr, vice president; F.E. Coover, cashier; and S.K. Sterline, assistant cashier. R.E. Westhaver was named to the newly created position of second assistant cashier.

On December 12, 1938, the New Cumberland Trust Company and the New Cumberland National Bank announed a plan to merge. Shareholders would vote on the plan on December 21st. The new bank would have the following capital structure: Preferred Capital $60,000; common capital $45,000; surplus $22,500 and expense fund $2,500. Preferred shares would be sold for cash at par. Common shares would be issued to the present stockholders at a cost of $15.50 per share. The issuance would be done on a basis of one new share for each share of New Cumberland Trust Company stock and two for each share of the New Cumberland National Bank. The incorporators of the new bank had not decided upon the location. Liquidating trustees were: M.A. Hoff, J.C. Arbegast, and J.W. Wright, New Cumberland Trust; F.E. Coover, R.B. Updegraff and the Harrisburg Trust Co., New Cumberland National. M.A. Hoff, president of the New Cumberland Trust Co. said the directors had the merger idea in mind for some time for the best interests of the stockholders of the two banks. On December 21st, stockholders approved the formation of the New Cumberland Bank, formed by merger of the New Cumberland National Bank and the New Cumberland Trust Company. The New Cumberland Bank would open in the trust company building at 331 Bridge Street. According to M.A. Hoff, who was elected president at the reorganization meeting of the two boards the bank would open on Friday, December 23rd. Hoff had been president or the New Cumberland Trust Company for more than six of its 14 years of existence. He was formerly a director of the Lemoyne Trust Company and was secretary of the State Board of Funeral Directors. Edwin S. Herman of Harrisburg, who was named chairman of the board, was president of the National Bank and a director of the Harrisburg Trust Company, as well as the head of the wholesale tobacco firm of John C. Herman and Company. J.E. Brucklacher, formerly of Williamsport, was elected executive vice-president and cashier. He was an examiner for the State Department of Banking for nine years and was formerly with the Lycoming Trust Company, Williamsport; Grangers Trust Company, Huntingdon, and the Bank of North America, Philadelphia. Russell Updegraff was elected secretary of the board and attorney for the bank. He held both posts with the National Bank.

In 1946, the New Cumberland Bank changed its name to Cumberland County National Bank and Trust Co. (CCNB) and in 1977 the name was shortened to CCNB Bank, National Association (N.A.).[1]

Official Bank Title(s)

1: The New Cumberland National Bank, New Cumberland, PA

Bank Note Types Issued

1902 Red Seal $5 bank note with SN 1 and pen signatures of G.W. Reily, Cashier and Ed. S. Herman, President. This is a Replacement note.
1902 Red Seal $5 bank note with SN 1 and pen signatures of G.W. Reily, Cashier and Ed. S. Herman, President. This is a Replacement note. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note with printed signatures of F.E. Coover, Cashier and Ed S. Herman, President.
1929 Type 1 $20 bank note with printed signatures of F.E. Coover, Cashier and Ed S. Herman, President. Courtesy of Heritage Auctions, www.ha.com

A total of $506,430 in National Bank Notes was issued by this bank between 1904 and 1935. This consisted of a total of 63,453 notes (52,244 large size and 11,209 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Red Seal 4x5 1 - 1330
1902 Red Seal 3x10-20 1 - 988
1902 Date Back 4x5 1 - 2025
1902 Date Back 3x10-20 1 - 1480
1902 Plain Back 4x5 2026 - 6545
1902 Plain Back 3x10-20 1481 - 4198
1929 Type 1 6x5 1 - 848
1929 Type 1 6x10 1 - 490
1929 Type 1 6x20 1 - 140
1929 Type 2 5 1 - 1384
1929 Type 2 10 1 - 807
1929 Type 2 20 1 - 150

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1904 - 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

  • New Cumberland, 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
  • Harrisburg Telegraph, Harrisburg, PA, Wed., July 20, 1904.
  • Harrisburg Telegraph, Harrisburg, PA, Mon., Aug. 8, 1904.
  • Harrisburg Daily Independent, Harrisburg, PA, Wed., Oct. 5, 1904.
  • Harrisburg Daily Independent, Harrisburg, PA, Fri., Oct. 14, 1904.
  • The Courier, Harrisburg, PA, Sun., Jan. 1, 1905.
  • The Courier, Harrisburg, PA, Sun., Jan. 8, 1905.
  • Harrisburg Daily Independent, Harrisburg, PA, Wed., July 25, 1906.
  • Harrisburg Daily Independent, Harrisburg, PA, Wed., Jan. 19, 1916.
  • The Sentinel, Carlisle, PA, Sat., Jan. 12, 1924.
  • Harrisburg Telegraph, Harrisburg, PA, Tue., Jan., 14, 1930.
  • The Evening News, Harrisburg, PA, Tue., Jan. 20, 1931.
  • Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 11, 1938.
  • Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 18, 1938.
  • Harrisburg Telegraph, Harrisburg, PA, Mon., Dec. 12, 1938.
  • The Evening News, Harrisburg, PA, Thu., Dec. 22, 1938.
  1. The Evening Sun, Hanover, PA, Sat., Feb. 10, 1979.