First National Bank, Factoryville, PA (Charter 9130)

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The First National Bank of Factoryville, Pennsylvania, ca1900s.
The First National Bank of Factoryville, Pennsylvania, ca1900s. Courtesy of Heritage Auctions, www.ha.com

First National Bank, Factoryville, PA (Chartered 1908 - Closed (Merger) 1974)

Town History

Needed: a recent photo of the bank or another postcard.
Needed: a recent photo of the bank or another postcard.

Factoryville is a borough in Wyoming County, Pennsylvania. it was named for a woolen factory near the original town site. The population was 1,158 at the 2010 census. In 1900 the population was 659 growing to 893 by 1940.

Keystone College, founded in 1868, is a private college in Northeastern Pennsylvania. Although the college's official mailing address is La Plume, Pennsylvania in Lackawanna County, much of the campus is in Factoryville in Wyoming County.

Factoryville had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

On March 13, 1908, the directors elected the following officers: H. Loren Fassett, president; James Lewis, vice president; John S. Read, secretary. The bank planned to begin business on May 1. It was voted to issue a call for 25% of subscriptions to be paid April 1 and another 25% on April 30. A certificate was issued to begin business with capital of $30,000. The bank opened for business on Monday, May 18; M.C. James was the cashier.

In January 1909, the following directors were elected: Smith Broadbent, H. Loren Fassett, William J. Frees, Frank Gardner, M.C. James, Essex Lewis, James H. Lewis, John S. Read, William N. Reynolds, Horace Seamans, Charles A. Sisk, F.W. Wollerton, George S. Wilson.

In January 1915, Mark James, former cashier of the First National Bank of Factoryville who went West a few month ago was appointed as teacher and treasurer for the Dubuque German Presbyterian college and seminary at Dubuque, Iowa.

On Jan. 11, 1916, stockholders re-elected its board of directors. The officers and directors were: John S. Reed, president, Horace Seamans, vice president; J.H. Lewis, cashier; directors, Smith Broadbent, Frank Gardner, James H. Lewis, Essex Lewis, John S. Read, Horace Seamans, George S. Wilson, F.W. Wollerton, E.J. Biddleman, V.W.B. Hedgepeth, Andrew Kehrili, W.J. Frees, and H.H. Langham.

In January 1930, Officers were: T.J. Jones and C.F. Odell, vice presidents; E.W. Dolph, cashier; Earl Sisson, assistant cashier. Directors were Charles D. Hunt, T.J. Jones, C.F. Odell, H.C. Reynolds, H.S. Sisk, G.S. Chase, R.U. Capwell, B.J. Crisman, Dr. Van C. Decker, E.W. Dolph, and V.T. Dickinson.

On October 24, 1938, two youthful bandits, unmasked, held up the teller of the First National Bank of Factoryville and escaped with $1,000. Mrs. Louise Scheur, 30, the teller, was alone in the bank when the bandits walked in. They forced her into the vault and locked the inner door. Then they Gathered up the cash and fled. Earl Sisson, assistant cashier who had been out of the bank a short time returned and found Mrs. Scheur in the vault. Sisson said the bandits overlooked $10,000 in a drawer where they gathered up the $1,000.

Official Bank Title(s)

1: The First National Bank of Factoryville, PA

Bank Note Types Issued

1902 Plain Back $10 bank note with pen signatures of E.W. Dolph, Cashier and George Sisson, Vice President.
1902 Plain Back $10 bank note with pen signatures of E.W. Dolph, Cashier and George Sisson, Vice President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note with printed signatures of E.W. Dolph, Cashier and Charles E. Hunt, President.
1929 Type 1 $20 bank note with printed signatures of E.W. Dolph, Cashier and Charles E. Hunt, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $620,840 in National Bank Notes was issued by this bank between 1908 and 1974. This consisted of a total of 49,868 notes (41,332 large size and 8,536 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Date Back 3x10-20 1 - 3950
1902 Plain Back 3x10-20 3951 - 10333
1929 Type 1 6x10 1 - 960
1929 Type 1 6x20 1 - 288
1929 Type 2 10 1 - 893
1929 Type 2 20 1 - 155

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1908 - 1974):

Presidents:

Cashiers:

Other Bank Note Signers

  • George Sisson signed notes as vice president.
  • There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Factoryville, 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 Scranton Truth, Scranton, PA, Sat., Mar. 14, 1908.
  • Pittsburgh Daily Post, Pittsburgh, PA, Thu., May 14, 1908.
  • Wyoming Democrat, Tunkhannock, PA, Fri., May 22, 1908.
  • The Tribune, Scranton, PA, Wed., Jan. 20, 1909.
  • The Scranton Truth, Scranton, PA, Thu., Jan. 14, 1915.
  • The Scranton Truth, Scranton, PA, Wed., Jan. 12, 1916.
  • The Tribune, Scranton, PA, Thu., Jan. 16, 1930.
  • Mauch Chunk Times-News, Mauch Chunk, PA, Mon., Oct. 24, 1938.
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