Pennsylvania Obsolete to National Bank Conversions

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The Bank of North America. Engravings of the bank at 307 Chestnut in 1781, at 305-307 Chestnut in 1848 and at 305, 307, 309 Chestnut Street in 1895 (right to left).
The Bank of North America. Engravings of the bank at 307 Chestnut in 1781, at 305-307 Chestnut in 1848 and at 305, 307, 309 Chestnut Street in 1895 (right to left).
Featured Bank Note: Series 1902 Red Seal $5 bank note, issued by The First National Bank of Philadelphia, PA, signed by Chas. H. James, Asst. Cashier and J. Tatnall Lea, President.
The Bank of Germantown
Featured Bank Note: Series 1902 Red Seal $5 bank note, issued by The First National Bank of Philadelphia, PA, signed by Chas. H. James, Asst. Cashier and J. Tatnall Lea, President.
Mifflin County Bank
Obsolete $5 bank note of the Farmers and Mechanics Bank, Philadelphia, PA, Haxby PA-430, dated April 5, 1861. Pen signatures of W. Rushton, Jr. Cashier and E.M. Lewis, Vice President.
Obsolete $5 bank note of the Farmers and Mechanics Bank, Philadelphia, PA, Haxby PA-430, dated April 5, 1861. Pen signatures of W. Rushton, Jr. Cashier and E.M. Lewis, Vice President. Courtesy of Heritage Auctions, www.ha.com
The Iron City Bank obsolete $5 bank note, Haxby PA-535, dated July 4, 1862, pen signed by John Magoffin, Cashier and James McAuley, President.  Printed by the ABNCo, the center features a large industrial vignette of iron workers and an unidentified male portrait as well as a smaller vignette at lower left of farm implements. A striking yellow protector panel with FIVE is found and this note served as the plate note in the Haxby catalog (page 2122).
The Iron City Bank obsolete $5 bank note, Haxby PA-535, dated July 4, 1862, pen signed by John Magoffin, Cashier and James McAuley, President.  Printed by the ABNCo, the center features a large industrial vignette of iron workers and an unidentified male portrait as well as a smaller vignette at lower left of farm implements. A striking yellow protector panel with FIVE is found and this note served as the plate note in the Haxby catalog (page 2122). Courtesy of Heritage Auctions, www.ha.com
The York Bank obsolete $1 dated April 21st, 1862 with pen signatures of G.H. Sprigg, Cashier and Henry Welsh, President.
The York Bank obsolete $1 dated April 21st, 1862 with pen signatures of G.H. Sprigg, Cashier and Henry Welsh, President. Courtesy of Heritage Auctions, www.ha.com

Pennsylvania had numerous Obsolete Banks that converted to National Banks between 1864 and 1865, including a branch of a Camden, New Jersey bank. Philadelphia was home to the First and Second Bank of the United States. Banking in Pennsylvania expanded after the Commonwealth’s Omnibus Banking Act of 1814 divided the state into twenty-seven banking districts and approved charters for forty-one banks.

Camden, New Jersey

  • The State Bank at Camden (Haxby NJ-65) (1812-1865) -> The National State Bank of Camden, NJ (Charter 1209) (1865-1985). The State Bank at Camden operated a branch in Philadelphia and provides an interesting lesson in branch banking throughout the national bank note era. The branch of this New Jersey bank was the seventh oldest bank in Philadelphia at one time. Two Philadelphia branches were operated starting in the 1920s.

Brownsville (Fayette County)

Columbia (Lancaster County)

  • Columbia Bank (Haxby PA-840) (1854-1864); -> Columbia National Bank, Columbia, PA (Charter 641) (1864-1917). The Columbia Bank had under various names been in existence almost 108 years. The first Columbia–Wrightsville Bridge was begun in 1812 and completed December 5, 1814, at a total cost of $231,771, which was underwritten by the newly formed Columbia Bank and Bridge Company.

Danville (Columbia County and in 1850, Montour County)

The Bank of Danville, (Haxby PA-95) (1849-1865); -> Danville National Bank, Danville, PA (Charter 1078) (1865-1968)

Germantown (Philadelphia County)

Harrisburg (Dauphin County)

Lancaster (Lancaster County)

Lebanon (Lebanon County)

Lewisburg (Union County)

Lewistown (Mifflin County)

New Castle (Lawrence County)

Norristown (Montgomery County)

Northern Liberties (Philadelphia County)

Philadelphia (Philadelphia County)

Pittsburgh (Allegheny County)

Reading (Berks County)

Sunbury (Northumberland County)

Uniontown (Fayette County)

Waynesburg (Greene County)

West Chester (Chester County)

York (York County)

Bank Reports to the Auditor General

Report of Monday, November 6, 1825 to the Auditor General
Name of Bank Stock Notes Specie Dividends
Chambersburg Bank 245,875 134,662 26,450.65 5.5%
Bank of Chester County 90,000 133,310 43,224.37 8%
Carlisle Bank 164,574 98,238.50 23,429.99 7.5%
Commercial Bank of Pennsylvania 1,000,000 168,406 121,783.13 5.5%
Bank of Delaware County 77,510 63,386 36,836.20 8%
Easton Bank 181,140 234,667.20 31,472.69 not stated
Farmers Bank of Bucks County 60,090 60,340 6,062.69 1,885.80
Bank of Germantown 122,100 76,268 17,011.16 6%
Gettysburg Bank 128,698 72,805 31,659.33 3%
Harrisburg Bank 158,525 267,785.59 32,607.46 8%
Lancaster Bank 134,235 101,780 21,541.10 613.125
Mechanics Bank, Philadelphia 530,320 367,004.50 149,117.42 7%
Brownsville Bank 102,123 63,381 13,071.50 5%
Bank of Montgomery County 112,455 161,395 58,062.85 6%
Northampton Bank 125,000 103,236 25,200.55 6%
Pittsburgh Bank 342,480.50 171,260 17,147.24 6%
Schuylkill Bank 500,000 406,521 102,268.87 6%
Westmoreland Bank 112,063 77,514 13,011.56 6%
York Bank 168,720 88,900 73,596.64 7%
Philadelphia Bank 1,800,000 313,335 179,097 not stated
Bank of the Northern Liberties 200,000 344,084 84,520.95 4%
Farmers and Mechanics Bank 1,250,000 445,950 232,400 not stated
Columbia Bridge Company 395,000 113,909.29 34,136.41 $4/share
Southwark Bank 192,350 61,681.16 23,077.72 not stated
Farmers Bank of Lancaster 500,000 164,158 50,643.94 4%
Farmers Bank of Reading 300,350 122,721 17,770.18 not stated
Total 8,993,608.50 4,416,698.24 1,465,201.60

Sources

  • Bank Act of 1814. Carlisle Weekly Herald, Carlisle, PA, Fri., Apr. 1, 1814.
  • Gettysburg Compiler, Gettysburg, PA, Wed., Jan. 18, 1826.
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