First National Bank, Newport, PA (Charter 4917)

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View of the town square in Newport, Pennsylvania ca1900.
View of the town square in Newport, Pennsylvania ca1900. Courtesy of Adam Stroup

First National Bank, Newport, PA (Chartered 1893 - Merger 2007)

Town History

2021 photo of the old First National Bank building. Courtesy of Adam Stroup.

Newport is located in Perry County and was originally known as Ryder's Ferry, as it was the site of an early ferry on the Juniata River. It was later renamed Newport after the Pennsylvania Canal came through in 1829.  The Pennsylvania railroad (1849) accelerated industrial development including iron, tannery products, bricks, textiles, and lumber, and workers serviced canal boats and the railroad, and supported area agriculture. The population of Newport was 1,574 at the 2010 census. In 1890, the population was 1,417, peaking in 1910 at 2,009.

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

Bank History

The People's Bank of Newport started business on August 19, 1875 with capital of only $15,000. Dr. J.E. Singer was its first president and W.S. Rickabaugh was its first cashier. The original board of directors was composed of P.M. Kepner, H.C. Lewis, John Bair, Jerome Hetrick, Charles K. Smith, and James B. Leiby. Dr. Singer died in 1881 and John Bair became president until the bank was reorganized in 1893 as a national bank.[1]

On May 8, 1893, The First National Bank of Newport was organized in the Social Club's rooms with Dr. James B. Eby, Newport, president; Hon. W.C. Pomeroy, Port Royal, vice president; P.K. Brandt, cashier and T.J. Clark, assistant cashier. Hon. Jeremiah Lyons, Hon. L.E. Atkinson, and Hon. W.C. Pomeroy of Juniata County were notable stock holders. The directors were J.B. Eby, C.K. Smith, William Wertz, Newport; Dr. D.B. Milliken, Landisburg; Hon. W.C. Pomeroy, George T. Kepner, and Joseph C. Stimmel, Port Royal. Other principal stockholders were H.C. Lewis, Lewistown; Rev. S.W. Seibert, A.W. Kough, Mrs. Mary E. Singer, John Bair, Dr. S.H. Whitmer, William Emenheiser, Newport; M.E. Whiteside, Harrisburg; and Dr. B.P. Hooke, Loysville. The capital was $50,000. The business of the Peoples Bank was absorbed by the First National with the new national bank opening around the first of June. Mr. John Bair was the president of the Peoples Bank for the past 11 years and retired to his home in East Newport.[2][3]

On Monday, January 1, 1894, the First National Bank of Newport moved into its new building equipped with a new burglar and fire proof York safe.[4] On the 11th stockholders elected the board of directors, consisting of Dr. James B. Eby, C.K. Smith, S.W. Seibert, William Wertz, Hon. W.C. Pomeroy, G.T. Kepner and J.W. Stimmel. The Directors elected Dr. James B. Eby, president; Hon. W.C. Pomeroy, vice president; J.W. Stimmel, secretary; P.K. Brandt, cashier and T.J. Clark, assistant cashier. A 3% dividend was declared on the earnings over the past six months and $25,000 was added to the surplus fund.[5]

On Tuesday, January 14, 1896, stockholders elected the following directors: J.B. Eby, C.K. Smith, William Wertz, S.W. Seibert, S.H. Whitmer, J.W. Stimmell, and E.C. Doty. The officers elected were J.B. Eby, president; C.K. Smith, vice president; P.K. Brandt, cashier; and T.J. Clark, assistant cashier.[6]

In January 1898, the directors were Dr. James B. Eby, Dr. S.H. Whitmer, C.K. Smith, S.W. Seibert, William Wertz, William Emenheiser, and A.W. Kough. The same officers were re-elected as follows: Dr. James B. Eby, president, C.K. Smith, vice president, P.K. Brandt, cashier and T.J. Clark, assistant cashier.[7] In December 1899, G.H. Frank was elected to fill the vacancy as Charles Stimmel had resigned as clerk.[8] In January 1901, S.W. Seibert was added as vice president; the other officers were re-elected.[9] In June 1902, Dr. J.C. Hall of Millerstown was appointed a director to fill the vacancy caused by the death of Dr. S.H. Whitmer.[10] In June 1903, George Fleisher of Newport was elected a director in place of Dr. J.C. Hall, deceased.[11]

On March 7, 1905, The Perry County National Bank of Newport was closed having merged into the First National Bank of Newport. Two of its directors, Judge John Fleisher and Jacob E. Fleisher (president, 1929) were added to the board of directors of the First National Bank.[12]

In January 1930, the directors were A.W. Kough, J.E. Fleisher, Jas. E. Smith, A.L. Gelnett, Frank M. Snyder, Gilbert H. Frank, and Chas. C. Brandt. The officers were J.E. Fleisher, president; A.L. Gelnett, vice president; Gilbert H. Frank, cashier; H.W. Robinson, assistant cashier; and Alfred Wolpert, teller. The bank had capital $50,000, Surplus $260,000 and resources over $1,400,000.[13]

In January 1935, the directors were Jas. E. Smith, Frank M. Snyder, A.L. Gelnett, Gilbert H. Frank, M.L. Ritter, Chas. C. Brandt, and Charles E. Bosserman. The officers were Gilbert H. Frank, president and cashier; A.L. Gelnett, vice president; H.W. Robinson, assistant cashier; and Alfred Wolpert, teller. The bank had capital $50,000, surplus $100,000, and resources over $1,400,000.[14]

On May 1, 2006, Orrstown Financial Services, Inc., the parent company of Orrstown Bank, announced the completion of the acquisition of the First National Bank of Newport. The Newport bank which will retain its name is a $120 million institutions with four banking offices in Perry County. First National shareholders overwhelmingly approved the acquisition at a special meeting on April 18. Peter C. Zimmerman, president and CEO of the First National became a director of Orrstown Financial and Kenneth R. Shoemaker, president and CEO of Orrstown Financial became a director of the First National Bank.[15]

Official Bank Title(s)

1: The First National Bank of Newport, PA

Bank Note Types Issued

Series of 1902 $20 Plain Back bank note
Series 1902 Plain Back $20 bank note with signatures of Gilbert H. Frank, Cashier and A.W. Kough, President. Courtesy of Adam Stroup.
Series 1929 Type 1 $20 bank note with printed signatures of Gilbert H. Frank, Cashier and G.H. Frank, President. This is an uncommon case of the same person holding the offices of both the Cashier and President at the same time and where two different signatures were used to produce the overprint plate for the bank.
Series 1929 Type 1 $20 bank note with printed signatures of Gilbert H. Frank, Cashier and G.H. Frank, President. This is an uncommon case of the same person holding the offices of both the Cashier and President at the same time and where two different signatures were used to produce the overprint plate for the bank. Courtesy of Heritage Auctions, www.ha.com

A total of $864,970 in National Bank Notes was issued by this bank between 1893 and 1935. This consisted of a total of 92,637 notes (71,728 large size and 20,909 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1882 Brown Back 4x5 1 - 4825
1882 Brown Back 3x10-20 1 - 1580
1882 Date Back 4x5 1 - 1904
1882 Date Back 3x10-20 1 - 1541
1902 Date Back 3x10-20 1 - 1400
1902 Plain Back 3x10-20 1401 - 8082
1929 Type 1 6x5 1 - 1490
1929 Type 1 6x10 1 - 978
1929 Type 1 6x20 1 - 276
1929 Type 2 5 1 - 2738
1929 Type 2 10 1 - 1409
1929 Type 2 20 1 - 298

Series of 1929 Type 1 notes may be found with Gilbert Frank's signature as both Cashier and President. For other examples, see: Clark, Frank "Dual Signature NBNs Same Cashier and President," November/December 2003 (Whole # 228), Paper Money, p. 372. Clark, Frank "Dual Office Holder National Bank Notes - Revisited," May/June 2006 (Whole # 243), Paper Money, p. 234.

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1893 - 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

  • Newport, 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://bbdata.banknotehistory.com
  • History of Perry County, Pennsylvania, H.H. Hain, Hain-Moore Co., Publishers, Harrisburg, (1920), pp 489-490.
  1. ↑ History of Perry County, Pennsylvania, H.H. Hain, Hain-Moore Co., Publishers, Harrisburg, (1920), pp 489-490.
  2. ↑ The York Dispatch, York, PA, Tue., May 9, 1893.
  3. ↑ The News, Newport, PA, Fri., May 12, 1893.
  4. ↑ The Sentinel, Carlisle, PA, Thu., Jan. 4, 1894.
  5. ↑ The News, Newport, PA, Thu., Jan. 11, 1894.
  6. ↑ The News, Bloomfield, PA, Thu., Jan. 16, 1896.
  7. ↑ Harrisburg Daily Independent, Harrisburg, PA, Fri., Jan. 14, 1898.
  8. ↑ The Star and Enterprise, Newville, PA, Wed., Dec. 6, 1899.
  9. ↑ The Perry County Democrat, Bloomfield, PA, Wed., Jan. 16, 1901.
  10. ↑ The Perry County Democrat, Bloomfield, PA, Wed., June 25, 1902.
  11. ↑ Harrisburg Daily Independent, Harrisburg, PA, Fri., June 19, 1903.
  12. ↑ The Perry County Democrat, Bloomfield, PA, Wed., Apr. 12, 1905.
  13. ↑ The Perry County Democrat, Bloomfield, PA, Wed., Jan. 22, 1930.
  14. ↑ The Perry County Democrat, Bloomfield, PA, Wed., Jan. 23, 1935.
  15. ↑ Public Opinion, Chambersburg, PA, Tue., May 2, 2006.
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