Peoples NB/Grove City NB, Grove City, PA (Charter 5501)

From Bank Note History
Jump to navigation Jump to search
The Grove City National Bank, Grove City, Pennsylvania, ca1920s.
The Grove City National Bank, Grove City, Pennsylvania, ca1920s. Courtesy of Adam Stroup

Peoples National Bank/Grove City NB, Grove City, PA (Chartered 1900 - Open past 1935)

Town History

The Grove City National Bank on Board and Pine Streets, ca2021.
The Grove City National Bank on Board and Pine Streets, ca2021. Courtesy of Google Maps

Grove City is a borough in Mercer County, Pennsylvania, located approximately 60 miles north of Pittsburgh and 75 miles south of Erie. It is the home of Grove City College, a private conservative Christian liberal arts college and George Junior Republic. Historically, a traditional industrial center, Grove City has manufactured locomotive engines, carriages, gas engines, foundry products, and motor trucks. At the 2010 census, the population was 8,322. Grove City is part of the Youngstown-Warren-Boardman, OH-PA Metropolitan Statistical Area.

Grove City had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

  • Organized June 11, 1900
  • Chartered July 17, 1900
  • Bank was Open past 1935

On Friday, April 20, 1900, the directors selected Charles Forrest, president, and Dr. A.M. Allen, vice president. The directors previously chosen were A.K. McCandles, W.A. Redmond, C.W. Forrest, A.M. Allen, W.L. Wilson, D.J. Washabaugh, of Grove City, and W.J. Wilson of Pardoe.

The directors of the Grove City Savings & Trust Co., and the Peoples National Bank had for some time been considering the consolidation of the two institutions and at the April 1908 meeting, it was decided to ask the stockholders to increase the stock of the Peoples National Bank from $50,000 to $100,000, consolidate the banks, and change the name to the Grove City National Bank. The stockholders approved and the named was changed in August.

The Northwest Pennsylvania Bank & Trust Co. was the result of the merger of the Oil City National Bank and the Crawford County Trust Company of Meadville in April 1962.

On Saturday, January 6, 1968, the Northwest Pennsylvania Bank & Trust Co. merged with The Grove City National Bank. L.O. Hotchkiss was president of the Northwest Pennsylvania Bank which had total resources of $124,855,990.83, deposits totaling $110,633,526.14 and Trust Funds of $98,776,532.03. Northwest shareholders received a 5% stock dividend and Gove City shareholders received two and one-half shares of Northwest stock for each share of Grove City stock. The merged bank retained the charter dating back to the 1930s for The Oil City Bank, Oil City, and assumed the title of Northwest Pennsylvania Bank & Trust Co. The merger was approved by the state banking department on Thursday, January 11, 1968.

Official Bank Title(s)

1: The Peoples National Bank of Grove City, PA

2: The Grove City National Bank (8/1/1908), Grove City, PA

Bank Note Types Issued

1882 Brown Back $5 bank note with printed signature of E.B. Harshaw, Cashier and E.J. Fithian Vice President.
1882 Brown Back $5 bank note with printed signature of E.B. Harshaw, Cashier and E.J. Fithian Vice President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1882 Value Back $20 bank note with binary SN 10100 and plate position A. The signatures have been redrawn.
1882 Value Back $20 bank note with binary SN 10100 and plate position A. The signatures have been redrawn. Courtesy of Adam Stroup
1902 Plain Back $20 bank note with printed signatures of E.B. Harshaw, Cashier and E.J. Fithian Vice President.
1902 Plain Back $20 bank note with printed signatures of E.B. Harshaw, Cashier and E.J. Fithian Vice President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 2 $20 bank note with printed signatures of E.B. Harshaw, Cashier and E.J. Fithian President.
1929 Type 2 $20 bank note with printed signatures of E.B. Harshaw, Cashier and E.J. Fithian President. Courtesy of Heritage Auctions, www.ha.com

A total of $2,133,050 in National Bank Notes was issued by this bank between 1900 and 1935. This consisted of a total of 177,290 notes (144,016 large size and 33,274 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 - 2605
1: 1882 Brown Back 3x10-20 1 - 1955
2: 1882 Date Back 3x10-20 1 - 9400
2: 1882 Value Back 3x10-20 9401 - 13552
2: 1902 Plain Back 3x10-20 1 - 17892
2: 1929 Type 1 6x10 1 - 3454
2: 1929 Type 1 6x20 1 - 1040
2: 1929 Type 2 10 1 - 4724
2: 1929 Type 2 20 1 - 1586

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1900 - 1936):

Presidents:

Cashiers:

Other Bank Note Signers

  • Dr. Edwin J. Fithian signed notes as Vice President.
  • There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Grove City, PA, Wikipedia, https://en.wikipedia.org/wiki/Grove_City,_Pennsylvania
  • 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
  • The Record-Argus, Greenville, PA, Sat., Apr. 21, 1900.
  • The Record-Argus, Greenville, PA, Fri., June 12, 1908.
  • The News-Herald, Franklin, PA, Tue., Jan. 9, 1968.
  • The Oil City Derrick, Oil City, PA, Sat., Feb. 3, 1968.
  • The Oil City Derrick, Oil City, PA, Thu., Feb. 22, 1968.
Retrieved from "https://banknotehistory.mywikis.wiki/w/index.php?title=Peoples_NB/Grove_City_NB,_Grove_City,_PA_(Charter_5501)&oldid=26896"