Citizens National Bank, Monaca, PA (Charter 5879)
Citizens National Bank, Monaca, PA (Chartered 1901 - Open past 1935)
Town History
Monaca is a borough in Beaver County, Pennsylvania along the Ohio River, 25 miles northwest of Pittsburgh. First incorporated as Phillipsburg as the home of the New Philadelphia Society, the name of the borough was changed to Monaca in honor of the Native American Monacatootha. Fire clay is found in large quantities in the vicinity, and there is a Stoelzle Glass plant in the town. The population was 5,737 as of the 2010 Census.
The land on which Monaca now stands was granted by the Commonwealth of Pennsylvania by patent, bearing the date September 5, 1787, to Colonel Ephraim Blaine (1741–1804), who served in the Continental Army during the Revolutionary War, from 1778 to 1782 as commissary-general of the Northern Department, and paternal great-grandfather of James G. Blaine. In the patent, this tract was called "Appetite". In 1822, the beginnings of a town appeared when Stephen Phillips and John Graham purchased the property and established their boat yards on the Ohio River there. It was first named for Phillips, and was long known as Phillipsburg. Phillips and Graham built numerous steamboats, including the William Penn, which carried the Harmonites from their second settlement in New Harmony, Indiana, to Beaver County and their third and final home at Economy. In 1832, Phillips and Graham sold the entire tract of land to seceders from the Harmony Society at Economy, and moved their boat yards to what is now Freedom. The seceders from the Harmony Society were led by Bernhard Müller, known as Count de Leon. The group consisted of German immigrants who formed a communal religious society. In 1832, after leaving Economy, with about 250 former Harmony Society members, Müller and his followers started a new community in Phillipsburg (now Monaca) with the money they obtained in the settlement with the Harmony Society. Here they established the New Philadelphian Congregation, or New Philadelphia Society, constructing a church, a hotel, and other buildings. They soon renamed this community "Löwenburg" (Lion City). In 1856 the new post office was named Water Cure after a local sanitorium because another Phillipsburg was located in Centre County, Pennsylvania.
Monaca had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized May 22, 1901
- Chartered June 25, 1901
- Opened for business July 1, 1901
- Bank was Open past 1935
- Merged with the Monaca National Bank (Charter 5878) in December 1936 to form the First National Bank of Monaca
In June 1901, the Comptroller of the Currency authorized the Monaca National Bank, charter 5878, with capital of $25,000 and the Citizens National Bank of Monaca, charter 5879, with capital of $50,000 to begin business.
On December 28, 1936, consolidation of Monaca's two banks was announced by their directors. The Citizens National Bank and the Monaca National Bank, both organized in 1901, combined to form the First National Bank of Monaca with capital stock of $100,000. The new bank opened on January 2, 1937 with George Weinman, president; Alonzo S. Batchelor, vice president; and Charles W. Weinman, cashier.
On January 16, 1968, a gunman asked a teller, Nada Dzuro, "Please fill this bag," and fled with an undetermined amount of cash. Bank manager George Watts said the man showed a pistol, produced a cloth sack and told Mrs. Dzuro to fill it. The man ran outside and jumped into a car. Four hours later a Baden man was arrested by State Police. Police recovered all but $1 of the money. A 22-caliber pistol was found in the suspect's car.
On April 25, 1968, Raymond E. DeBolt, Jr., 26, of Baden, Beaver County, was sentenced to a provisional 20-year jail term on his guilty plea to robbing a Beaver County bank. Federal Judge Louis Rosenberg imposed the maximum penalty to qualify DeBolt for a 90-day psychiatric study. The prison sentence could be reduced based upon results of the study. DeBolt pleaded guilty to charges in connection with a $3,911 holdup on January 16 at the Centre Township branch of the First National Bank of Monaca. DeBolt was arrested in the driveway of his home by FBI agents.
Official Bank Titles
1: The Citizens National Bank of Monaca, PA
2: The Citizens' National Bank of Monaca, PA [Feb 18, 1932]
3: The Citizens National Bank of Monaca, PA [Sep 10, 1932]
Bank Note Types Issued
A total of $1,069,380 in National Bank Notes was issued by this bank between 1901 and 1935. This consisted of a total of 133,764 notes (108,240 large size and 25,524 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 - 950 1: 1882 Brown Back 3x10-20 1 - 760 1: 1882 Date Back 4x5 1 - 4700 1: 1882 Date Back 3x10-20 1 - 3300 1: 1882 Value Back 4x5 4701 - 8225 1: 1882 Value Back 3x10-20 3301 - 5355 1: 1902 Plain Back 4x5 1 - 6960 1: 1902 Plain Back 3x10-20 1 - 4810 2: 1929 Type 1 6x5 1 - 1676 2: 1929 Type 1 6x10 1 - 774 2: 1929 Type 1 6x20 1 - 218 3: 1929 Type 1 6x5 1677 - 2202 3: 1929 Type 1 6x10 775 - 1028 3: 1929 Type 1 6x20 219 - 304 3: 1929 Type 2 5 1 - 2430 3: 1929 Type 2 10 1 - 1374 3: 1929 Type 2 20 1 - 516
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1901 - 1936):
Presidents:
Cashiers:
- Thomas C. Fry, 1901-1901
- Fremont Darr "Mont" Youtes Sr., 1902-1931
- Charles William Weinman, 1932-1935
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Monaca (Wikipedia)
- General information on Beaver County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Monaca, PA, Wikipedia, https://en.wikipedia.org/wiki/Monaca,_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
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., June 26, 1901.
- The Pittsburgh Press, Pittsburgh, PA, Mon., Dec. 28, 1936.
- The Evening Standard, Uniontown, PA, Tue., Jan. 16, 1968.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Wed., Jan. 17, 1968.
- The Daily Republican, Monongahela, PA, Mon., Apr. 29, 1968.