First National Bank, Bangor, PA (Charter 2659)

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ca.1910 postcard of the First National Bank. Courtesy of Adam Stroup

First National Bank, Bangor, PA (Chartered 1882 - Liquidated 1934)

Town History

A view of Bangor, PA circa 1910s.
A view of Bangor, PA circa 1900s. Courtesy of Adam Stroup

Bangor is a borough located in Northampton County, 32 miles north of Allentown, in the Lehigh Valley region of Pennsylvania. It is part of Pennsylvania's Slate Belt. It had a population of 5,273 according to the 2010 census.  The 1880 population was 1,328, growing to a peak in 1950 of 6,050.

The borough was settled about 1760 and first incorporated in 1875. The founder and first Chief Burgess of Bangor was Robert M. Jones, an emigrant from Bangor, Wales. He was the prime mover in the establishment of the slate industry in Northampton County. Slate quarries pepper the area, but only a few are still functioning.  The region's quarries were and still are known for the finest slate, traditionally utilized for roofing tiles, school blackboards and artisan craft uses. Indeed, if one visits Bangor, Wales it is clearly visible that the Welsh heritage made its way to Bangor, Pennsylvania, whose stone walls, square gardens, and flowers and greenery mirror those of its Welsh namesake. Around Bangor one can also see piles of slate residue and shale reminiscent of the area around Bethesda, Wales.

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

Bank History

  • Organized March 14, 1882
  • Chartered April 12, 1882
  • Succeeded Bank of Bangor
  • Conservatorship March 14, 1933
  • Liquidated August 13, 1934
  • Succeeded by 14170 (First National Bank in Bangor, PA)

The $50,000 necessary to establish a National Bank at Bangor was raised and the bank was readying to begin business around the first of April. An additional $10,000 was raised and The First National Bank of Bangor, Pennsylvania, with capital of $60,000 was authorized to commence business in April 1882.

The First National Bank of Bangor was closed around the first of March 1933 and a conservator, Asher G. Able, appointed. In May 1933, a depositors' committee was formed to assist in reopening the First National. By September an announcement was made that 40% of the money had been waived and 60% remained liquid for the depositors, but a request was made that depositors reinvest 10% of the 60 in stock to allow the bank to reopen. This plan was endorsed by depositors who were anxious that the bank reopen for business. On May 23, 1934, The First National Bank in Bangor was organized, receiving charter 14,170 and succeeding the old bank. Officers were Asher G. Able, cashier and John Stiles president.

Official Bank Title(s)

1: The First National Bank of Bangor, PA

Bank Note Types Issued

Series of 1875 $20 bank note with pen signatures of Alfred M. Paff, Cashier and Jacob E. Long, President.
Series of 1875 $20 bank note with pen signatures of Alfred M. Paff, Cashier and Jacob E. Long, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $20 bank note with pen signatures of A.G. Abel, Cashier and Oliver LaBar, President.
1902 Plain Back $20 bank note with pen signatures of A.G. Abel, Cashier and Oliver LaBar, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note with printed signatures of W. J. Pysher, Cashier and A. G. Abel, President.
1929 Type 1 $10 bank note with printed signatures of W. J. Pysher, Cashier and A. G. Abel, President. Courtesy of Heritage Auctions, www.ha.com

A total of $3,811,300 in National Bank Notes was issued by this bank between 1882 and 1934. This consisted of a total of 306,758 notes (262,848 large size and 43,910 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
Series 1875 3x10-20 1 - 8223
1902 Red Seal 3x10-20 1 - 11200
1902 Date Back 3x10-20 1 - 16300
1902 Plain Back 3x10-20 16301 - 28289 Plate dated 1902
1902 Plain Back 3x10-20 1 - 18000 Plate dated 1922
1929 Type 1 6x10 1 - 5606
1929 Type 1 6x20 1 - 1380
1929 Type 2 10 1 - 1614
1929 Type 2 20 1 - 380

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1882 - 1934):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Bangor, PA, Wikipedia, https://en.wikipedia.org/wiki/Bangor,_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://bbdata.banknotehistory.com
  • Carlisle Weekly Herald, Carlisle, PA, Mon. Feb. 6, 1882.
  • Harrisburg Daily Independent, Harrisburg, PA, Fri., Apr. 14, 1882.
  • The Morning Call, Allentown, PA, Fri., May 26, 1933.
  • The Morning Call, Allentown, PA, Mon., Oct. 2, 1933.
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