Wyoming National Bank, Wilkes Barre, PA (Charter 732)
Wyoming National Bank, Wilkes Barre, PA (Chartered 1865 - Closed (Merger) 1985)
Town History
Wilkes-Barre is a city in the U.S. state of Pennsylvania and the county seat of Luzerne County. Located at the center of the Wyoming Valley, it had a population of 44,328 in 2020 Census. It is the second-largest city (after Scranton) of the Scranton–Wilkes-Barre–Hazleton, PA Metropolitan Statistical Area, which had a population of 563,631 as of the 2010 Census and is the fourth-largest metropolitan area in Pennsylvania. Wilkes-Barre and the surrounding Wyoming Valley are framed by the Pocono Mountains to the east, the Endless Mountains to the north and west, and the Lehigh Valley to the south. The Susquehanna River flows through the center of the valley and defines the northwestern border of the city.
Wilkes-Barre was founded in 1769 and formally incorporated in 1869. The city grew rapidly in the 19th century after the discovery of nearby coal reserves and the arrival of hundreds of thousands of immigrants who provided a labor force for the local mines. The coal mining fueled industrialization in the city, which reached the height of its prosperity in the first half of the 20th century. Its population peaked at more than 86,000 in 1930.
In 1926, Planters Peanuts Company was founded in Wilkes-Barre by two Italian immigrants. The company maintained its headquarters in the city until 1961.
Following World War II, the city's economy declined due to the collapse of industry. The Knox Mine disaster accelerated this trend after large portions of the area's coal mines were flooded and could not be reopened. Today, the city has around half of its peak population of the 1930s, making it the largest city in Luzerne County and the 13th-largest city in Pennsylvania.
Wilkes-Barre had seven National Banks chartered during the Bank Note Era. Three banks used Wilkes Barre (no hyphen) as the town name: First National Bank (Ch2736), Second National Bank (Ch104), and Wyoming National Bank (Ch732). Four banks used Wilkes-Barre (with hyphen) as the town name: First National Bank (Ch30), Luzerne County National Bank (Ch9235), Miners National Bank (Ch13852), and Hanover National Bank (Ch14344). Six of these banks issued National Bank Notes; only the Hanover National Bank did not issue notes. Only the First National Bank (Ch30) issued notes using both versions of the town name, with only small National Bank Notes showing Wilkes-Barre.
Bank History
- Organized December 31, 1864
- Chartered January 19, 1865
- Succeeded Wyoming Bank
- Merged with the Union Savings Bank and Trust Company of Wilkes-Barre, PA, on February 15, 1932
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged with 707 (First National Bank of Plymouth, PA) on June 26, 1953
- Acquired 13177 (First National Bank of Exeter) on February 27, 1962
- Merged with 5573 (First National Bank of Shickshinny) June 1967
- Merged with 835 (Wyoming National Bank of Tunkhannock) on June 21, 1967
- Acquired 9130 (The First National bank of Factoryville, Factoryville, PA) on June 10, 1974
- Merged into Merchants Bank (North) in Wilkes Barre, PA, June 15, 1985
On April 21, 1829, an act incorporating the Wyoming Bank at Wilkesbarre in Luzerne County was signed by C. Blythe, Secretary of the Commonwealth. William Ross, Henderson Gaylord, John N. Conyngham, William Swetland and Isaac Bowman were appointed commissioners. The bank was authorized a capital stock of $150,000, to be divided into shares of $50 each, managed by 13 directors.[1] On Saturday, November 14, 1829, at an election held at the court house in Wilkesbarre, the following were chosen directors for the ensuing year: Benjamin Dorrance, G.M. Hollenback, John N. Conyngham, Ziba Bennett, Henderson Gaylord, James Nesbitt, Jr., John D. Stark, William Ross, Oristus Collins, Steuben Butler, Miller Horton, Wm. Swetland, and Abraham Thomas. At a meeting of the directors on Monday, November 16th, Benjamin Dorrance, Esq., was chosen president.[2] Edward Lynch, cashier, published notice the Wyoming Bank would commence business on Monday, February 1st, 1830, with banking hours from 9 A.M. until 3 P.M. Notes would be received for discount during banking hours every business day in the week except Wednesdays when they were to be handed in before half past 9 in the morning.[3]
On November 15th, 1830, the following directors were duly elected: William Ross, George M. Hollenback, Ziba Bennett, Oristus Collins, John N. Conyngham, Miller Horton, Henderson Gaylord, Steuben Butler, Garrick Mallery, James Nesbitt, Jr., James Wright, John L. Butler, and William Hancock. At a meeting of the directors on Monday, November 22nd, Garrick Mallery was unanimously elected president and William Swetland chosen a director in the place of William Ross, resigned.[4]
On Monday, November 21st, 1831, the following gentlemen were elected directors: Benjamin Dorrance, George M. Hollenback, Oristus Collins, Joseph Slocum, John L. Butler, William Hancock, James Wright, James Nesbitt, Jr., Joseph Sinton, Orlando Porter, Cornelius Cortright, Arnold Colt, and Lewis Worrall. At a meeting of the directors on the 28th, B. Dorrance, Esq., was re-elected president.[5]
In January 1854, the directors were G.M. Hollenback, Ziba Bennett, A.T. McClintock, Wm. Wood, Samuel Wadhams, L.D. Shoemaker, Steuben Butler, J.J. Slocum, W.J. Woodward, Jno. C. Phelps, W.G. Sterling, J.L. Everett, and Charles Dorrance. The officers were G.M. Hollenback, president; Edward Lynch, vice president; Edward S. Loop, cashier; and James Jones, clerk.[6]
In January 1860, Edward S. Loop, cashier, Wyoming Bank, filed his bond with sureties in $30,000; Edward Lynch, vice president, bond $20,000; James Jones, clerk, bond $10,000, all of which were approved by the court.[7]
In November 1864, notice of a meeting of the stockholders was published by Cashier Loop on the 15th with the purpose to consider and vote upon the question of becoming a banking association under the laws of the United States.[8]
On November 21, 1866, at a regular meeting of the board of directors, Wm. S. Ross, Esq., was elected president in place of George M. Hollenback, deceased. Ziba Bennett, Esq., was elected vice president.[9]
In December 1931, the directors were Dorrance Reynolds, president; Theodore S. Barber, president of Morris Run Coal Mining Co.; George Nicholson, vice president of Vulcan Iron Works; Charles Dorrance, consulting engineer; Z. Platt Bennett, senior member of Lewis & Bennett Hardware Co.; John H. Brooks, senior member of J.H. Brooks & Co.; Ridgway B. Espy, attorney, trust officer; Charles E. Ash, vice president and secretary, Lehigh & Wilkes-Barre Coal Co.; F.H. Silvernail, secretary and treasurer of Lehigh Valley Coal Co.; L.A. Tompkins, vice president and comptroller, Lehigh Valley Coal Co.; W.A. Valentine, Judge of Common Pleas, Luzerne County; and Robert C. Miner, vice president and general manager, Miner Hillard Milling Co. The officers were Dorrance Reynolds, president; Theodore S. Barber, George Nicholson, and Charles M. Austin, vice presidents; Theodore Alexander, cashier; Charles R. Kelchner, assistant cashier; and Ridgway B. Espy, trust officer.[10]
In January 1932, at the annual meeting of stockholders, all directors and officers were re-elected.[11] On January 27th, announcement was made of the merger of the Union Savings Bank & Trust Co. of Wilkes-Barre, founded in 1921, and the Wyoming National Bank. Merger plans were approved by the respective boards of directors and the resulting bank would have total resources of more than $10 million.[12] Stockholders of the Union Savings Bank & Trust Co. met on Wednesday, February 10th at No. 82 South Main Street to vote on the merger plan.[13] On February 15th, Treasury approved the consolidation of two state bank members of the Federal Reserve System in Luzerne County with national banks. The Union Savings Bank and Trust Company merged with the Wyoming National Bank of Wilkes-Barre with combined capital of $1,000,000. In the other merger, the Merchants' and Miners' State Bank of Luzerne joined the Luzerne National Bank of Luzerne with combined capital of $250,000 for the new institution.[14]
Who's Who in Valley Bank Circles profiled Theodore Alexander in February 1932. He began as a runner in 1899 and rose through successive promotions to his present office of cashier. He is the son of the late James I. Alexander, leader of Alexander's Famous Band, civil war veteran, and instructor of music. Theodore Alexander was born in Pottsville and came to Wilkes-Barre with his parents when six. He graduated from the public high school in 1899 and immediately entered the Wyoming National Bank as runner. In 1921, he became assistant cashier and in January 1931, he succeeded Charles M. Austin, now a vice president, as cashier. He was a past exalted ruler of Wilkes-Barre lodge, B.P.O.E, also serving five years as secretary; member of the Landmark lodge of Masons; Dieu le Veut commandery, Knights Templar; Caldwell consistory, Bloomsburg in which he holds the thirty-second degree; Irem Temple; and Craftsman's Club, Concordia Society, and Wyoming Valley Motor Club.[15]
On February 27, 1962, the Wyoming National Bank purchased all the assets of the First National Bank of Exeter allowing the bank to reopen that morning. The conservatorship appointed by the Comptroller of the Currency was terminated and all restricts as to withdrawals of deposits and entry into safe deposit boxes were lifted. The Wyoming National would operate the Exeter bank as its Exeter branch. Although Wyoming National officials declined to give any details as to the purchase price, it was learned that directors of the Exeter bank agreed to accept the equivalent of $40 a share for each of 3,000 shares of stock outstanding plus a percentage of any of the shortage that may be recovered. The reported offer contrasted to the $116 per share book value of the Exeter bank before the shortage was discovered. The stock had traded as high as $150 per share. The shortage was listed at about $455,000 of which $200,000 was covered by liability insurance. August Lippi, former president of the bank and current board chairman, and former cashier George Daileda were under arrest in connection with the shortage. Russell Gardner, a vice president of Miners National Bank of Wilkes-Barre was named conservator of the bank on February 19th, but his services were terminated due to the acquisition.[16]
Open house festivities for Saturday, October 13, 1962, were announced by Albert M. Bossard, president, and W.A. Valentine, chairman of the board. The renovation and expansion of the Wyoming National Bank located at West Market and Franklin Streets became a necessity due to its growth in recent years. By dropping the 30 foot ceiling of the main lobby a completely new floor was gained for use of the accounting department. A large amount of rental space in the building was available to the bank for future needs. The lobby was styled in rich walnut paneling, Vermont marble in white and dark green, luminous fluorescent ceiling, and smart furnishings in brick red, gold and green. The bank had a long and interesting history with its modest beginning in 1829 in a frame house on South River Street at the current location of the Westmoreland Club. The first cashier, Edward Lynch, of Philadelphia, received a yearly salary of $600. Visitors to the bank's open house were able to see the first safe on display in the lobby as well as photographs and sketches of some of the early scenes. The Wyoming National Bank at present had four branch offices located in Plymouth, Shavertown, Edwardsville and Exeter. The following were the directors of the Wyoming National Bank of Wilkes-Barre: former Judge W. Alfred Valentine, chairman, Albert M. Bossard, president; George L. Ruckno, Charles A. Shea, Jr., John T. Howell, Jr., Dr. C.C. Groblewski, H.M. Vivian, Nathan L. Foreman, George E. Gwilliam, E. Frank Martz, Bernard C. Banks, Joseph H. Williams, Judge Thomas M. Lewis, Rulison Evans, Sterling Wandell, and Robert C. Miner. The officers were Albert M. Bossard, president; William Y. Matthews, manager, Plymouth office, vice president and assistant trust officer; Darel Crispel, vice president and trust officer; Barry C. Boyer, cashier; Winfield Parsons, manager, Back Mountain office and assistant vice president; Raymond Sweetra, manager, Exeter office and assistant cashier; Frank L. Howorth, comptroller and secretary; Claire M. Blewitt, assistant trust officer; J. Roland Kelley, Doris Harris, Joseph Gray, David Lloyd, Jr., Harold J. Rose, Jr., and Earl Macarty, assistant cashiers.[17]
On Friday, September 26, 1958, a ground-breaking ceremony was held by officials of the Wyoming National Bank at the Gateway Shopping Center. The site was on the east side of Route 11 in Edwardsville where the new West Side office was planned for completion early in 1959. The shopping center branch would be the third branch office opened by the Wyoming National in the past five years. On June 26, 1953, Wyoming National merged with First National Bank of Plymouth, the latter becoming the Main Street, Plymouth branch of the Wilkes-Barre institution. The Back Mountain office was opened March 16, 1955 on Route 115 in the center of the rapidly expanding business district of Shavertown. The new 80 by 80 foot structure would have entrances from both the front and rear parking areas. In the center would be a 40 by 40 foot public banking area around which would be grouped offices, other facilities and entrance to the vault foyer. The building would be of steel frame with brick veneered external walls with terrazzo floors. Architects were Eyerman and Hoban and the project architect was Dennis I. Page of that firm's office. Announcement of the new branch came in the 129th anniversary year of the founding of the Wyoming Bank, the oldest existing bank in Northeastern Pennsylvania. The original bank was in the first block of South Franklin Street near the present site of St. Stephen's Episcopal Church. It occupied its current location at S. Franklin and W. Market Streets since 1860,[18] the site previously was occupied by James Sinton's store.[19]
On Saturday, October 13, 1962, A.M. Bossard and Louis J. Pagnotti, presidents of the Wyoming National Bank of Wilkes Barre and Old Forge Bank, respectively, announced that directors of the two banks had unanimously approved an agreement to consolidate. The Old Forge Bank was organized in 1909. It recently completed a $250,000 modernization program which included a drive-in service and electronic banking equipment. It had capital of $300,000, surplus of $400,000 and total resources of $10,656,686. Wyoming National had total assets of $38,175,585, common stock of $1,070,600, surplus of $1,750,000, undivided profits of $224,000 and reserves of $819,812.[20]
On May 28, 1963, the Wyoming National Bank of Wilkes-Barre received permission to merge with the Wyoming National Bank of Tunkhannock. In approving the merger, James J. Saxon, Comptroller of the Currency, said operation of the Tunkhannock bank as a branch of the Wilkes-Barre bank would meet the expanding credit needs of agriculture and industry by providing "broader, more adequate banking services." Albert M. Bossard, president of the Wilkes-Barre bank said returns from stockholders in the Wilkes-Barre bank indicated 92% in favor of the merger and 100% of Tunkhannock bank stockholders favored the merger.[21] The Wyoming National Bank of Tunkhannock would cease to exist at the close of business Friday night, June 21st and Monday morning, June 24th, it would open as the Wyoming National Bank of Wilkes-Barre, Tunkhannock office. There were no changes in personnel due to the merger.[22]
On May 5, 1967, stockholders of the Wyoming National Bank voted to merge with the First National Bank of Shickshinny. Stockholders of the Shickshinny bank previously had approved the merger. Noel Caverly, president of the Wyoming National Bank, said eight shares of Wyoming National stock would be given for each share of Shickshinny stock. In addition shareholders of the Shickshinny bank received a cash dividend of $20 per share. In the consolidation, Wyoming National picked up more than $5 million in additional assets. The Shickshinny bank had assets on December 31st of $5,354,917 and Wyoming National had assets of $51,050,819. The merger was approved in June 1967.[23]
A special meeting of the shareholders of the Wyoming National Bank of Wilkes-Barre was called for Wednesday, March 20, 1985 at 10 A.M. in the board room of the administrative offices at 24-26 West Market Street, Wilkes-Barre. The purpose was to consider and vote on an agreement to merge the bank and Merchants Bank (North) located in Wilkes-Barre. Harold J. Rose, Jr. was president and Chief Executive Officer.[24] On March 20th, Merchants Bancorp Inc. of Allentown announced that shareholders of Wyoming National Bank of Wilkes-Barre approved a proposal for that bank to become an affiliate of Merchants Bancorp, pending regulatory review and approval. The agreement provides for each of Wyoming's outstanding shares of common stock to be converted into 1.85 shares of Merchants Bancorp common stock or $74. Harold J. Ros, Jr. would become a vice chairman and chief operating officer of Merchants Bancorp. As of March 1st, Wyoming National had assets of 385 million and deposits of $344 million. Upon approval of the acquisition, Merchants Bancorp would have total assets of $1.8 billion and 62 banking offices in eight counties throughout the northeastern part of the state. The Merchants National Bank of Allentown, Easton National Bank and Trust Co., and First State Bank of Scranton were also affiliates.[25] Wyoming National had its Main Office and Public Square office in Wilkes-Barre, and offices in Edwardsville, Tunkhannock, Factoryville, Dallas Township, Plymouth, Shavertown, Exeter, Shickshinny and Kingston.[26]
In October 1985, Merchants Bancorp Inc. of Allentown reported 3rd quarter net income up 61% to $6.2 million compared to $3.8 million for the same quarter last year. Carl J. Feichtel, chairman of the board and chief executive officer of Merchants said the performance reflected acquisitions of First State Bank of Scranton and Wyoming National Bank of Wilkes-Barre. The bank holding company reported that total assets rose 64.3% to $1.9 billion as of September 30th and deposits for the first nine months were $1.7 billion compared to $1 billion last year.[27]
Official Bank Title
1: The Wyoming National Bank of Wilkes Barre, PA
Bank Note Types Issued
A total of $4,975,940 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 582,776 notes (403,180 large size and 179,596 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments Original Series 4x5 1 - 2500 Original Series 3x10-20 1 - 2100 Original Series 50-100 1 - 1202 Series 1875 4x5 1 - 625 Series 1875 3x10-20 1 - 1791 Series 1875 50-100 1 - 211 1882 Brown Back 4x5 1 - 5708 1882 Brown Back 3x10-20 1 - 4999 1882 Brown Back 50-100 1 - 353 1902 Red Seal 4x5 1 - 4050 1902 Red Seal 3x10-20 1 - 2830 1902 Red Seal 50-100 1 - 150 1902 Date Back 4x5 1 - 14000 1902 Date Back 3x10-20 1 - 8900 1902 Date Back 50-100 1 - 200 1902 Plain Back 4x5 14001 - 47365 1902 Plain Back 3x10-20 8901 - 27769 1929 Type 1 6x5 1 - 10080 1929 Type 1 6x10 1 - 7038 1929 Type 1 6x20 1 - 2106 1929 Type 2 5 1 - 39612 1929 Type 2 10 1 - 18913 1929 Type 2 20 1 - 5727
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1935):
Presidents:
- George Matson Hollenback, 1865-1866
- Gen. William Sterling Ross, 1866-1868
- Ziba Bennett, 1869-1877
- Charles Dorrance, (Sr.), 1878-1891
- Sheldon Reynolds, 1892-1894
- George Slocum Bennett, 1895-1909
- Andrew Hamilton McClintock, 1910-1919
- MAJ Irving Ariel Stearns, 1920-1920
- Asher Miner, 1921-1921
- LTC Dorrance Reynolds, 1922-1935
Cashiers:
- Edward Sterling Loop, 1865-1873
- Lathan W. Jones, 1874-1879
- Charles Dorrance, Jr., 1880-1882
- John Wroth, 1884-1886
- George H. Flanagan, 1887-1914
- Elmer Ellsworth Buckman, 1915-1922
- Charles Morgan Austin, 1923-1930
- Theodore Alexander, 1931-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- Wyoming National Bank, Wilkes Barre, PA History (NB Lookup)
- Pennsylvania Bank Note History (BNH Wiki)
Sources
- Wilkes Barre, 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
- ↑ The Susquehanna Democrat, Wilkes-Barre, PA, Fri., May 8, 1829.
- ↑ The Wyoming Herald, Wilkes-Barre, PA, Fri., Nov. 20, 1829.
- ↑ The Wyoming Herald, Wilkes-Barre, PA, Fri., Feb. 26, 1830.
- ↑ The Wyoming Herald, Wilkes-Barre, PA, Fri., Nov. 26, 1830.
- ↑ The Wyoming Herald, Wilkes-Barre, PA, Wed., Nov. 30, 1831.
- ↑ The Luzerne Union, Wilkes-Barre, PA, Tue., Jan. 10, 1854.
- ↑ The Luzerne Union, Wilkes-Barre, PA, Wed., Jan. 25, 1860.
- ↑ The Luzerne Union, Wilkes-Barre, PA, Wed., Nov. 9, 1864.
- ↑ The Scranton Republican, Scranton, PA, Fri., Nov. 30, 1866.
- ↑ Wilkes-Barre Times Leader, the Evening News, Wilkes-Barre, PA, Mon., Jan. 4, 1932.
- ↑ The Times Leader, Wilkes-Barre, PA, Wed., Jan. 13, 1932.
- ↑ The Plain Speaker, Hazleton, PA, Wed., Jan. 27, 1932.
- ↑ Wilkes-Barre Times Leader, the Evening News, Wilkes-Barre, PA, Tue., Feb. 2, 1932.
- ↑ Standard-Speaker, Hazleton, PA, Tue., Feb. 16, 1932.
- ↑ The Times Leader, Wilkes-Barre, PA, Wed., Feb. 17, 1932.
- ↑ The Times Leader, Wilkes-Barre, PA, Tue., Feb. 27, 1962.
- ↑ Wilkes-Barre Times Leader, the Evening News, Wilkes-Barre, PA, Thu., Oct. 11, 1962.
- ↑ Wilkes-Barre Times Leader, the Evening News, Wilkes-Barre, PA, Fri., Sep. 26, 1958.
- ↑ Wilkes-Barre Times Leader, Wilkes-Barre, PA, Tue., Jan. 26, 1932.
- ↑ Wilkes-Barre Times Leader, the Evening News, Wilkes-Barre, PA, Sat., Oct. 13, 1962.
- ↑ Wilkes-Barre Times Leader, the Evening News, Wilkes-Barre, PA, Tue., May 28, 1963.
- ↑ Tunkhannock New Age, Tunkhannock, PA, Thu., June 30, 1963.
- ↑ Wilkes-Barre Record, Wilkes-Barre, PA, Sat., May 6, 1967.
- ↑ Citizens' Voice, Wilkes-Barre, PA, Tue., Feb. 26, 1985.
- ↑ The Morning Call, Allentown, PA, Thu., Mar. 21, 1985.
- ↑ Citizens' Voice, Wilkes-Barre, PA, Thu., Jan. 3, 1985.
- ↑ The Morning Call, Allentown, PA, Tue., Oct. 22, 1985.