First National Bank, New Albany, PA (Charter 8973)

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Postcard of the First National Bank of New Albany, Pennsylvania, ca. late 1920s.
Postcard of the First National Bank of New Albany, Pennsylvania, ca. late 1920s. Courtesy of Mark Hotz

First National Bank, New Albany, PA (Chartered 1907 - Open past 1935)

Town History

The old First National Bank of New Albany, located on the corner of Front and Hubler Streets, ca2023
The old First National Bank of New Albany, located on the corner of Front and Hubler Streets, ca2023. Courtesy of Google Maps

New Albany is a borough in Bradford County, Pennsylvania. U.S. Route 220 passes through the borough, leading north 13 miles to Towanda, the county seat, and southwest 54 miles to Williamsport. The population was 254 at the 2020 census. In 1910 the population was 413 and it declined to 294 by 1930.

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

Bank History

A December 1967 Christmas advertisement of the First National Bank of Towanda showing branches at New Albany, Towanda, North Towanda and Ulster.
A December 1967 Christmas advertisement of the First National Bank of Towanda showing branches at New Albany, Towanda, North Towanda and Ulster.

In April 1926, Whipple Bros. Inc. were awarded the contract for building a new bank building for the First National Bank at New Albany. It called for a 30' X 40' building of gray brick with construction to begin around the first of May.[1]

On August 24, 1966, Warren R. Reeser, president of the Towanda bank and Robert F. Browning, president of the New Albany bank jointly announced that the boards of directors of the First National Bank of Towanda and the First National Bank of New Albany agreed to a merger. On Monday, August 15, the merger of the First National Bank of Towanda and the First National Bank of Ulster was announced. Subject to approval by stockholders and banking authorities, Lee R. Simons would become the vice president in charge of the New Albany office. Mr. Simons was the current cashier there. This was expected to be the only change in officers after the merger. The New Albany institution was organized on December 27, 1907 and the Towanda bank was chartered on July 28, 1863, and was the oldest bank in Bradford County. Upon approval the First National Bank of Towanda would be the only bank in Bradford County with two branches. The Citizen's Bank and Trust Company had a branch at Wysox, the First National Bank of Towanda had one at Ulster, and the First National Bank of Sayre had one on N. Keystone Avenue.[2][3]

The First National Bank of Towanda changed its name to the First National Bank of Bradford County. Approval was granted by the Comptroller of the Currency on Wednesday, December 15, 1971. The First was the only national bank with six offices based in the county with locations in Ulster, New Albany, North Towanda and two recently opened offices in Wellsburg and Greens Landing. Warren R. Reeser was president of the bank with assets totaling more than $27 million.[4]

Official Bank Title(s)

1: The First National Bank of New Albany, PA

Bank Note Types Issued

1902 Red Seal $5 bank note with SN 1B and pen signatures of William M. Kift, Cashier and L.C. Allen, President
1902 Red Seal $5 bank note with SN 1B and pen signatures of William M. Kift, Cashier and L.C. Allen, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Plain Back $10 bank note with pen signatures of C.D. Wilcox, Cashier and L.C. Allen, President.
1902 Plain Back $10 bank note with pen signatures of C.D. Wilcox, Cashier and L.C. Allen, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $20 bank note with printed signatures of C.D. Wilcox, Cashier and C.E. Osthaus, President.
1929 Type 2 $20 bank note with printed signatures of C.D. Wilcox, Cashier and C.E. Osthaus, President. Courtesy of Heritage Auctions, www.ha.com

A total of $493,760 in National Bank Notes was issued by this bank between 1907 and 1935. This consisted of a total of 62,671 notes (50,148 large size and 12,523 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Red Seal 4x5 1 - 625
1902 Red Seal 3x10-20 1 - 500
1902 Date Back 4x5 1 - 2025
1902 Date Back 3x10-20 1 - 1470
1902 Plain Back 4x5 2026 - 7050
1902 Plain Back 3x10-20 1471 - 4362
1929 Type 1 6x5 1 - 996
1929 Type 1 6x10 1 - 432
1929 Type 1 6x20 1 - 150
1929 Type 2 5 1 - 1852
1929 Type 2 10 1 - 996
1929 Type 2 20 1 - 207

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1907 - 1936):

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

  • New Albany, 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
  1. ↑ Wyoming Democrat, Tunkhannock, PA, Fri., Apr. 2, 1926.
  2. ↑ The Evening Times, Sayre, PA, Wed., Aug. 24, 1966.
  3. ↑ The Evening Times, Sayre, PA, Sat., Dec. 23, 1967.
  4. ↑ Star-Gazette, Elmira, NY, Sat., Dec. 18, 1971.
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