New First National Bank of/First NB of Meadville, PA (Charter 4938)

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The new bank opened bank opened on May 11, 1908, on the corner of Chestnut and Market Streets, Meadville, Pennsylvania.

New First National Bank of/First NB of Meadville, PA (Chartered 1894 - Open past 1935)

Town History

Needed: a contemporary postcard or photo of the bank.

Meadville is a city in and the county seat of Crawford County, Pennsylvania. The population was 13,050 at the 2020 census. The first permanent settlement in Northwestern Pennsylvania, Meadville is within 40 miles of Erie and within 90 miles of Pittsburgh.

Under the leadership of Chief Custaloga, the settlement of Cussewago was founded. Custaloga's name first appeared in western Pennsylvania's history in George Washington's journal of 1754. After Cussewago was abandoned, Meadville was laid out by William McArthur Sr. and settled on May 12, 1788, by a party of settlers led by David Mead. Its location at the confluence of Cussewago Creek and French Creek was only a day's travel by boat to the safety of Fort Franklin. The neighboring Iroquois and Lenape befriended the isolated settlement, but their enemies, including the Wyandots, were not so amiable. The threat of their attacks caused the settlement to be evacuated for a time in 1791. Around 1800, many of the settlers to the Meadville area came after receiving land bounties for service in the American Revolutionary War. Allegheny College was founded in April 1815 by Timothy Alden. Meadville became an important transportation center after the construction of the French Creek Feeder Canal in 1837 and of the Beaver and Erie Canal it connected to at Conneaut Lake and subsequent railroad development.

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

Bank History

  • Organized December 26, 1893
  • Chartered January 27, 1894
  • 1: Succeeded Peoples Savings Bank
  • 2: Absorbed 11910 June 5, 1931 (First National Bank, Saegertown, PA)
  • Bank was Open past 1935

On Wednesday, July 12, 1893, at the annual meeting of the stockholders of the Peoples' Savings Bank, a board of directors was chosen and the following officers re-elected: Samuel P. Bates, president; William Thomas, cashier; Jas. M. Dunbar, assistant cashier; and Jno. J. Farnicorn, bookkeeper. The directors chosen were Wm. Thomas, Chas. Farnicorn, Jno. J. Henderson, Andrew Davis, Arthur L. Bates, Samuel P. Bates, Wm. Heckman, Ambro Whipple, G.W. Congdon, J.W. Lang, Wm. Nash, A.W. Smith, Geo. W. Baldwin, and H.M. Dickson.[1]

On Wednesday, December 20, 1893, a stockholders' meeting of the new national bank was held and preliminary steps were taken toward its organization. The capital stock of $100,000 had all been subscribed. The new bank planned to take up the business of the Peoples' Savings Bank and to possess the building of that institution. Mr. William Thomas was secured as the cashier of the new organization; his record in that capacity for the Peoples' Bank was that of a sound, safe and conservative banker. Among the list of stockholders were the following well-known names: Charles Fahr, A.M. Fuller, J.D. Downing, Hon. W.C. Culbertson of Girard, Chas. Veith, Hon. Samuel P. Bates, Hon. J.J. Henderson, R.R. Wright of Mercer, H.M. Dickson, Geo. F. Davenport, S. Merrell, James A. Stone, Arthur L. Bates, M.L. Roundebush, William Thomas, A.C. Lacomte, Daniel Veith, and many others.[2]

In January 1894, directors of the New First National Bank of Meadville were Arthur L. Bates, Chas. Fahr, Geo. F. Davenport, E.A. Hempstead, Jas. A. Stone, S. Merrill, and J.S. Downing of Meadville; J.C. Weidman, R.R. Wright, and Herman Frankel of Mercer; and Andrew Davis of Greenville. The officers were A.M. Fuller, president; H.M. Dickson, vice president; Wm. Thomas, cashier; and W.B. Fulton, assistant cashier. The bank would open on February 1st with capital stock of $100,000.[3] In May, a handsome brass railing was added which stood on top of the counter three feet high and formed of 3/8 inch upright rods of polished brass, the tops ornamented with neat tips. At the back of the counter a gate of the same material was added, the whole constitution one of the nicest bank fixtures in the area.[4] In June the immense safe deposit safe for the bank arrived, weighing over 22 tons. The handling of the ponderous frame proved of interest to an immense crowd of men in addition to the workmen. It would be surrounded by a very heavy cemented brick wall, thus forming an enclosure as much proof from fire as from burglars.[5]

In January 1895, the directors elected were: A.M. Fuller, Chas. Fahr, E.A. Hempstead, George F. Davenport, S. Merrill, Arthur L. Bates, James A. Stone, H.M. Dickson, R.R. Wright, Andrew Davis, J.C. Weidman, and Herman Frankel. The officers elected were A.M. Fuller, president; Wm. Thomas, cashier; Wm. B. Fulton, assistant cashier; James M. Dunbar, teller; John Farnicorn, bookkeeper; and Daniel Mechtersheimer, collector.[6]

In January 1898, the directors elected were: A.M. Fuller, Simeon Merrill, James A. Stone, Arthur L. Bates, H.M. Dickson, J.C. Weidman, C.S. Burwell, Charles Fahr, J.D. Downing, E.A. Hempstead, George F. Davenport, R.R. Wright, and Herman Frankel. The officers elected were A.M. Fuller, president; Chas. Fahr, vice president; C.S. Burwell, cashier; James Dunbar, assistant cashier.[7]

In January 1900, the directors elected were: A.M. Fuller, Charles Fahr, Arthur L. Bates, E.A. Hempstead, George F. Davenport, H.M. Dickson, S. Merrill, Charles Veith, J.D. Downing, C.S. Burwell, J.C. Weidman, R.R. Wright and Herman Frankel. The officers elected were A.M. Fuller, president; Chas. Fahr, vice president; C.S. Burwell, cashier; W.B. Fulton, assistant cashier; John J. Farnicorn, teller; George W. Phillips, bookkeeper; and Walter E. Dewey, collector.[8] In April 1900, William B. Fulton resigned as assistant cashier to accept the position of cashier of the First National Bank at Union City, vacated by James M. Dunbar who was selected as cashier of the Crawford County Trust Company. John Farnicorn, teller succeeded Mr. Fulton as assistant cashier. George W. Phillips, bookkeeper, succeeded Mr. Farnicorn and Walter E. Dewey, clerk, succeeded Mr. Phillips. The changes would take effect around May 1st.[9] On Tuesday, May 8, 1900, at a meeting of the board of directors, the resignation of A.M. Fuller was accepted and Charles Fahr was unanimously chose as Mr. Fuller's successor, and E.A. Hempstead was elected vice president to succeed Mr. Fahr. Mr. Fuller was interested in the new Crawford County Trust Company, recently organized in Meadville and expected to devote considerable time to the management of that business. Mr. Hempstead was a very clear-sighted businessman and managed the post office better probably than any other in Pennsylvania.[10]

On Tuesday, January 10, 1905, the retiring directors were all re-elected as follows: Charles Fahr, E.A. Hempstead, S. Merrell, Charles Veith, C.S. Burwell, A.M. Fuller, Arthur L. Bates, George F. Davenport, H.M. Dickson, J.D. Downing, J.C. Weidman, R.R. Wright, and Herman Frankel. All officers and employees were re-elected, viz: Charles Fahr, president; E.A. Hempstead, vice president; C.S. Burwell, cashier; John J. Farnicorn, assistant cashier; George W. Phillips, teller, Walter E. Dewey, bookkeeper, Geo. G. Gartner, collector; and E.C. Margrave, stenographer.[11]

On Sunday, February 9, 1908, the heavy vault door of the New First National Bank, corner of Chestnut and Market Streets, was removed, preparatory to sending it to the factory to be overhauled to install in in the vault of the new bank building. A guard was stationed in the bank several days ago and would continue there until the business transferred to the new building.[12] On Monday, May 11, 1908, the New First National Bank opened for business in its new bank building, corner of Chestnut and Market Streets. The desks were adorned with carnations and numerous potted plants to greet the many visitors throughout the day. A reception committee consisted of Mr. and Mrs. S. Merrill, Mr. and Mrs. Charles Fahr, A.M. Fuller, Mrs. John J. Farnicorn and Mrs. Schastey.[13]

On January 12, 1915, at the annual meeting of the stockholders, the directors re-elected for the ensuing year were: Charles Fahr, E.A. Hempstead, S. Merrell, Charles Veith, C.S. Burwell, A.M. Fuller, Arthur L. Bates, Geo. F. Davenport, H.M. Dickson, Herman Frankel and W.J. Logan. On the 19th the board met for organization and the officers of the past year were re-elected as follows: Charles Fahr, president; E.A. Hempstead, vice president; C.S. Burwell, cashier; and John J. Farnicorn, assistant cashier. The usual 6% dividend was declared and a considerable appropriation was made to surplus which was in line with the bank's policy since its organization.[14]

In March 1931, Myron D. Trace, 34, of Meadville, was sentenced to two years in the Atlanta Federal prison after pleading guilty to embezzlement. He admitted embezzling $1,900 while working as teller in the First National Bank at Meadville.[15] With the opening of business on Friday, May 1, 1931, the First National Bank of Meadville took over the First National Bank of Saegertown, near there. The Saegertown bank closed. It had surplus and undivided profits of $52,000. The Meadville institution had total resources of $6,000,000.[16]

Greeting visitors at the formal opening of the Franklin Branch, First National Bank of Meadville were from left to right Lawrence H. Tompkins, installment credit manager; D.H. Keep, vice president and cashier of the Meadville bank; Dr. H.C. Winslow, president; F.C. Hunter, vice president; Dr. G.C. McCandless, a director; and Robert L. Brockmann, manager of the Franklin office.[17]

In November 1950, the First National Bank of Meadville announced plans to open a branch bank in Franklin. The liquidating committee of the Lamberton National Bank mailed letters to stockholders of the Franklin bank recommending they accept the Meadville bank's proposition to exchange their stock for shares in the Meadville bank equivalent to cover the $75,000 price of the Lamberton building and the sale of at least $125,000 worth of additional stock in the Meadville bank. Dr. H.C. Winslow, president of the Meadville bank, pointed out the splendid financial condition of the Meadville bank which paid 6% dividends over the past 9 years and adding more than 100% to the stockholders' assets. Dr. Winslow stated the bank's earnings in 1950 were about $3.15 per share with a par value of $20. He proposed to sell 5,000 shares at $40 which would give the bank a capital of $500,000 and surplus $500,000 with reserves of about $200,000. In conference with Chess Lamberton before his illness, a price of $75,000 was placed on the building.[18]

Postcard of The Lamberton National Bank, Franklin, Pennsylvania, ca1910s. The card was used by the Architect, Emmett E. Bailey to promote his company. The card was postmarked, Oil City, Pa., March 19, 1913. Message found on the postcard, made by The Acmegraph Co., Chicago, states, "This modern, absolutely fire proof building was designed and superintended by us. It is constructed of steel, concrete, granite and marble, and was erected strong enough to carry six more stories. This we believe is one of the most modern and best built buildings of its kind in the United States. Emmett E. Bailey Co., Architects, Oil City, Pa."
Postcard of The Lamberton National Bank, Franklin, Pennsylvania, ca1910s. The card, postmarked, Oil City, Pa., March 19, 1913, was used by the Architect, Emmett E. Bailey to promote his company.

In March 1951, application of the First National Bank of Meadville for permission to open a branch bank in Franklin was approved by Preston Delano, Comptroller of the Currency at Washington. Edwin H. Keep, vice president and cashier of the Meadville bank who handled much of the details in connection with the application stated that First National officials had pledged to give Franklin one of the finest banking institutions to be found anywhere in the nation. Franklin residents had several months earlier oversubscribed the proposed stock offering. Included in the 5,000 shares were 1,500 shares for present Lamberton National Bank stockholders in exchange for the local bank building. Remodeling of the interior of the banking quarters was planned to begin as soon as ratification by the stockholders was obtained and approval was given by the National Production Authority. According to the American Banker, the Meadville bank had advanced from 2,027th to 1,866th place among the 15,000 banks in the nation by the end of 1950.[19] The directors in 1951 were Edward I. Bates, general manager, Tribune Publishing Co.; R.E. Brooks, president, Brooks Brothers Motors; C.R. Fahr, owner, Fahr's Style Shop; Clair A. Jackson, partner, Gelvin, Jackson & Starr; F. Daniel Leary, chief plant accountant, American Viscose Corp.; L.J. Long, president, Wells College; G.C. McCandless, physician and surgeon; H.L. Moore, president, H.L. Moore Co.; William Sprenger, works manager, Westinghouse Electric Corp.; and H.C. Winslow, president.[20] On Thursday afternoon, September 27, 1951, more than 4,000 persons attended the formal opening the the Franklin branch of the First National Bank of Meadville, the first 1,500 receiving roses. It was Franklin's first national bank since merger of the Lamberton National in December 1941 with the Franklin Trust Company.[21]

In January 1952, stockholders re-elected all directors. The officers re-elected were Dr. H.C. Winslow, president; Edwin H. Keep, executive vice president and cashier; F.C. Hunter, vice president; R.L. Brockmann, assistant vice president and Franklin branch manager; A.J. DeGrange, assistant vice president; Kathryn M. Snearline, trust officer; R. Edna Kebort and Paul R. Kress, assistant cashiers; and J.W. Huner, auditor. Clair A. Jackson was re-elected secretary of the board.[22]

In January 1961, the First National Bank of Meadville reported an increase of deposits by 1,348,000 in 1960, despite downward trends in business. Stockholders re-elected three Franklin men, Dr. G.C. McCandless, Harry W. Gent, Jr., and Willis W. Phinney, directors. Other directors elected were Edward I. bates, George P. Evert, Carl R. Fahr, Clair A. Jackson, Edwin H. Keep, F. Daniel Leary, Howard L. Moore, Milton D. Nodler, Frank D. Patterson and Dr. H.C. Winslow. The directors re-elected the following officers: Dr. H.C. Winslow, chairman of the board; Howard L. Moore, vice chairman; Edwin H. Keep, president; A.J. DeGrange, vice president; Paul R. Kress, vice president and cashier; Miss Kathryn M. Snearline, vice president and trust officer; John J. Bowman, assistant vice president and auditor; Robert A. Brace, assistant vice president; Miss R. Edna Kebort, Robert T. Rector and James H. Forker assistant cashiers. The Franklin Office at 323 13th street, Franklin, had Robert L. Brockmann, vice president and assistant trust officer Lawrence H. Tomkins assistant vice president; Frederick N. Bartholme, assistant cashier.[23]

On Thursday, November 21, 1968, shareholders of both the First National Bank of Erie and the First National Bank of Meadville approved plans to consolidate the two institutions. The new bank would operate under Charter No. 12 of the First National Bank of Erie and be named the First National Bank of Pennsylvania. The head office of the First National Bank of Pennsylvania would be located in Meadville with executive offices in Erie. The bank would have 14 banking offices in Erie, Lawrence Park Township, Millcreek Township, North East, Waterford, Wesleyville, Meadville and Franklin. A 15th office approved for the Kearsarge area would open early the following year. Under the plan, Charles J. Heimberger, president of the First National Bank of Erie would become chairman of the board and chief executive officer and Edwin H. Keep, president of the First National Bank of Meadville would become president and chief administrative officer. The board of directors would be comprised of J. Robert Baldwin, Baldwin Brothers Real Estate, R.W. Britt, president, General Telephone Co.; James A Currie, president, Erie Foundry Co.; Charles A. Dailey, Jr., president, Dailey Chevrolet, Inc.; John H. DeVitt, president, Hammermill Paper Co.; John R. Dwyer, president, Firch Baking Co.; John W. English, attorney; Harry W. Gent, Jr., attorney; Charles J. Heimberger, chairman of the board and chief executive officer; W.F. Illig, attorney; Edwin H. Keep, president and chief administrative officer; Ellis T. Knobloch, president, Union Iron Works; F. Daniel Leary, chief plant accountant, FMC Corp., American Viscose Division; Vincent F. Lechner, president American Sterilizer Co.; Donald S. Leslie, Junior vice president-finance, Hammermill Paper Co.; E.V. Lett, vice president; James R. McBrier, president, Trask, Prescott & Richardson Co.; Dr. G.C. McCandless, physician and surgeon; Robert F. Merwin, president, Eriez Mfg. Co.; Edward Selden, retired; Guy W. Wilson, retired; John J. Williams, vice president-operations, Talon Division, Textron, Inc.; Dr. Harry C. Winslow, physician and surgeon; Bryce W. Wyman, vice president, general manager, Transportation Systems Div., General Electric Co.; and Everett F. Zurn, chairman, Zurn Industries, Inc. Directors of both banks had approved the consolidation plan on September 16th.[24]

On Friday, February 28, 1969, Federal approval was received for the merger of the First National Bank of Erie and the First National Bank of Meadville, forming the largest bank in Western Pennsylvania outside metropolitan Pittsburgh. Operations began on Monday as the First National Bank of Pennsylvania with close to $200 million in resources.[25]

In August 1971, the First National Bank of Pennsylvania, Meadville, ranked 266th among the top 300 banks in the nation, an advance of 28 positions since December 1970 according to the American Banker, a daily banking newspaper. It was the only Northwestern Pennsylvania bank ranked in the top 300. It ranked 21st in the state of Pennsylvania, an advance of one place over its previous ranking.[26]

Official Bank Titles

1: The New First National Bank of Meadville, PA

2: First National Bank of Meadville, PA (8/25/1930)

Bank Note Types Issued

1882 Brown Back $50 bank note with pen signatures of C.S. Burwell, Cashier and Charles Fahr, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note with a faded, but legible signature of Charles Fahr, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 1 $20 bank note with printed signatures of A.F. Miller, Cashier and Charles Fahr, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $10 bank note with printed signatures of A.F. Miller, Cashier and Charles Fahr, President. Courtesy of Heritage Auctions, www.ha.com

A total of $3,414,780 in National Bank Notes was issued by this bank between 1894 and 1935. This consisted of a total of 255,277 notes (189,930 large size and 65,347 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 3x10-20 1 - 4120
1: 1882 Brown Back 50-100 1 - 1807
1: 1882 Date Back 3x10-20 1 - 4456
1: 1882 Date Back 50-100 1 - 116
1: 1902 Date Back 3x10-20 1 - 5000
1: 1902 Plain Back 3x10-20 5001 - 37945
1: 1929 Type 1 6x10 1 - 3070
1: 1929 Type 1 6x20 1 - 1022
2: 1929 Type 1 6x10 1 - 3688
2: 1929 Type 1 6x20 1 - 998
2: 1929 Type 2 10 1 - 10118
2: 1929 Type 2 20 1 - 2561
A 3X50-100 1882 Date Back plate was prepared and approved on May 1, 1912, but no notes were issued using this plate.

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1894 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • Meadville, 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 Evening Republican, Meadville, PA, Thu., July 13, 1893.
  2. ↑ The Evening Republican, Meadville, PA, Thu., Dec. 21, 1893.
  3. ↑ The Evening Republican, Meadville, PA, Tue. Jan. 30, 1894.
  4. ↑ The Evening Republican, Meadville, PA, Thu., May 3, 1894.
  5. ↑ The Evening Republican, Meadville, PA, Thu., June 21, 1894.
  6. ↑ The Evening Republican, Meadville, PA, Thu., Jan. 10, 1895.
  7. ↑ The Evening Republican, Meadville, PA, Wed., Jan. 12, 1898.
  8. ↑ The Evening Republican, Meadville, PA, Wed., Jan. 10, 1900.
  9. ↑ The Evening Republican, Meadville, PA, Thu., Apr. 12, 1900.
  10. ↑ The Evening Republican, Meadville, PA, Wed., May 9, 1900.
  11. ↑ The Evening Republican, Meadville, PA, Wed., Jan. 11, 1905.
  12. ↑ The Evening Republican, Meadville, PA, Mon., Feb. 10, 1908.
  13. ↑ The Evening Republican, Meadville, PA, Mon., May 11, 1908.
  14. ↑ The Evening Republican, Meadville, PA, Wed., Jan. 20, 1915.
  15. ↑ The Conneautville Courier, Conneautville, PA, Wed., Mar. 18, 1931.
  16. ↑ The Kane Republican, Kane, PA, Fr., May 1, 1931.
  17. ↑ The News-Herald, Franklin, PA, Sat., Sep. 29, 1951.
  18. ↑ The News-Herald, Franklin, PA, Fri., Nov. 24, 1950.
  19. ↑ The News-Herald, Franklin, PA, Thu., Mar. 29, 1951.
  20. ↑ The News-Herald, Franklin, PA, Fri., July 13, 1951.
  21. ↑ Pittsburgh Post-Gazette, Pittsburgh, PA, Mon., Oct. 1, 1951.
  22. ↑ The News-Herald, Franklin, PA, Thu., Jan. 10, 1952.
  23. ↑ The News-Herald, Franklin, PA, Thu., Jan. 12, 1961.
  24. ↑ The News-Herald, Franklin, PA, Fri., Nov. 22, 1968.
  25. ↑ The Progress, Clearfield, PA, Sat., Mar 1, 1969.
  26. ↑ The News-Herald, Franklin, PA, Thu., Aug. 5, 1971.
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