First National Bank, Shippensburg, PA (Charter 834)

The old First National Bank on the corner of Earl and East King Streets, ca2022. Courtesy of Google Maps

First National Bank, Shippensburg, PA (Chartered 1865 - Closed (Merger) 1980)

Town History

An 1868 advertisement for the Farmers' and Mechanics' Bank of Shippensburg with John Wunderlich, president, and Andrew G. Miller, cashier.

Shippensburg is a borough in Cumberland and Franklin counties of south central Pennsylvania. Settled in 1730, Shippensburg lies in the Cumberland Valley, 41 miles southwest of Harrisburg, and is part of the Harrisburg–Carlisle Metropolitan Statistical Area. The population was 5,492 at the 2010 census. Of this number, 4,416 were in Cumberland County, and 1,076 were in Franklin County.

Shippensburg is the oldest community of the Cumberland Valley, and the second oldest west of the Susquehanna River in Pennsylvania (after York to the east). In July 1730, twelve Scots-Irish families came to the site of the present-day Shippensburg and built cabin homes along Burd's Run. Shippensburg began as the western outpost of colonial settlement.

The village received its name from Edward Shippen, a prominent resident of Lancaster (and onetime mayor of Philadelphia) who obtained the patent to the land from the heirs of William Penn. Edward Shippen's granddaughter, Peggy Shippen, was historically notable as the wife of General Benedict Arnold, who betrayed the Continental Army by defecting to the British during the American Revolutionary War.

Shippensburg was incorporated as a borough on January 21, 1819. In the past, there were furniture factories, engine and pump works, and other industrial works located within the town. Shippensburg is the home of the Beistle Company, the oldest manufacturer of decorations and party goods in the U.S. In May 2012, Volvo Construction Equipment began a $100 million expansion project to bring its American headquarters to Shippensburg.

Shippensburg University of Pennsylvania, one of 14 universities of the Pennsylvania State System of Higher Education, is located just north of the borough limits.

The first bank in Shippensburg was known as Farmers' & Mechanics' Bank. It preceded The First National Bank and was in business only a short time, but did issue notes. Known dates extend from 1862-1869. Andrew G. Miller was cashier and John Wunderlich was president. Isaac D. Geesaman served as Treasurer. Prior to the establishment of local banks, the Shippensburg Borough Council issued Bank Notes with a known note dated 1837 signed by I. Steinman, Town Clerk.

Shippensburg had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes. Those banks were The First National Bank, Charter 834 and The Peoples National Bank, Charter 6946. Shippensburg also had one Obsolete Bank, the Farmers' and Mechanics' that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

Organized January 21, 1865
Chartered February 23, 1865
Bank was Open past 1935
For Bank History after 1935 see FDIC Bank History website
Merged into Commonwealth NB in Harrisburg, PA, April 2, 1980

In January 1866, the stockholders elected the following directors: Dr. Alexander Stewart, David Middlecoff, David Spencer, Wm. M. Mains, Philip Martin, Enos Forney, and Geo. C. Clever. A dividend of five per cent was declared.

The board of directors for the year 1868 consisted of Dr. Alex. Stewart, David Middlecoff, David Koser, George Clever, John Bridges, Philip Martin, and David Spencer. The officers were Dr. Alex. Stewart, president; David Middlecoff, vice president; and J.D. Geesaman, cashier.

On October 30, 1876, Gen. David Middlecoff, the Vice President of the Board since its organization as a national bank, passed away. He was born near Conowago Chapel, Adams County in 1794 and his childhood was spent in Cashtown and its neighborhood. In the war of 1812, he was a member of the volunteer company from Gettysburg that participated in the defense of Baltimore. In 1829 he was elected a member of the lower branch of the State Legislature. From 1833 to 1836, he represented Adams and York Counties in the State Senate and with the efforts of Hon. Thaddeus Stevens in the House, the state appropriation to Pennsylvania College was secured. He was a Major General of the militia of York and Adams Counties. During the Civil War he raised and commanded a company of cavalry used several times in the field during emergencies.

On Wednesday, January 15, 1879, the stockholders elected the following directors: Dr. Alex. Stewart, Philip Martin, George Clever, Robert J. Lawton, Samuel L. Addams, John A. Craig, and James E. McLean.

On Tuesday, January 17, 1882, officers elected were Dr. Alexander Stewart, president; Jas. E. McLean, vice president and J.D. Geesaman, esq., cashier.

On Monday, May 23, 1887, Mr. J.D. Geesaman, cashier of the First National Bank, died at his residence on Main Street. The deceased was a native of Shippensburg in his 68th year. He was engaged in business all his life. When the bank organized in 1865, he became teller and three years later became its cashier, continuing until his death. He was succeeded by his son, John E. Geesaman, himself elected teller in 1873. Also, W.A. Adams was elected teller and William McLean, son of James E. McLean, Esq., clerk.

On January 5, 1894, Dr. Alexander Stewart died at his residence in Shippensburg of pneumonia. He was born in Frederick County, Maryland, in September 1809. He was educated at Mount St. Mary's College and at the age of nineteen years commenced the study of medicine at Emmittsburg, Maryland. His professional course was completed at Washington Medical College, Baltimore, from which institution he was graduated in 1831. The same year he began the practice of his profession in Shippensburg. Dr. Stewart was a most skillful physician.

In January 1896, the following were elected directors: W.A. Addams, J.A. Craig, D.T. Holland, F.E. Hollar, W.B. Smith, George H. Stewart, and W.J. Angle.

On Tuesday, January 13, 1920, stockholders elected the following directors: George H. Stewart, Sr., W.A. Addams, Geo. S. McLean, D.T. Holland, Frank E. Hollar, John E. Boher and S.S. Wylie. On January 20, 1920, Mr. John E. Geesaman, cashier, tendered his resignation at the organization meeting of the board of directors. He was the city clerk for 22 consecutive years and a veteran of the Civil War. By trade, a printer, He returned home after the war and was engaged with the Shippensburg News. He later worked at the printing trade with Wm. H. Murphy & Sons in Philadelphia; was one time part owner of the Massilon, Ohio, American, and the returned to Shippensburg as foreman of the Valley Sentinel, later Carlisle Sentinel. In 1873 he was elected to the position of teller in the First National Bank of which his father was cashier. Upon his father's death he succeeded him as cashier. Mr. George S. McLain, the assistant cashier, was elected to the position made vacant by Mr. Geesaman's retirement. The other officers were re-elected and included W.A. Addams, president; Geo. H. Stewart, vice president; Lee M. Hale, teller; W.S. Greenland, bookkeepers; and Miss Florence Beltz, bookkeeper and stenographer.

In January 1925, stockholders elected the following directors: W.A. Addams, Geo. H. Stewart, A.F. Smith, John E. Boher, W.A. Nickles, S.S. Wylie, and F.E. Hollar. On Tuesday, January 20, 1925, the directors organized by electing W.A. Addams, president; Geo. H. Stewart, vice president; Geo. S. McLean, cashier; Lee M. Hale, teller; J.B. Hockersmith and W.S. Greenland, bookkeepers; and Mrs. Florence Kramer, stenographer.

Official Bank Title(s)

1: The First National Bank of Shippensburg, PA

Bank Note Types Issued

1902 Red Seal $20 bank note with pen signatures of J.E. Geesaman, Cashier and W.A. Addams, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Plain Back $10 bank note with printed signatures of G.S. McLean, Cashier and W.A. Addams, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1929 Type 1 $20 bank note with printed signatures of G.S. McLean, Cashier and W.A. Addams, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $1,704,390 in National Bank Notes was issued by this bank between 1865 and 1980. This consisted of a total of 203,153 notes (112,572 large size and 90,581 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
Original Series	4x5	1 - 1900
Original Series	3x10-20	1 - 1740
Series 1875	4x5	1 - 1485
Series 1875	3x10-20	1 - 1602
1882 Brown Back	3x10-20	1 - 3299
1902 Red Seal	3x10-20	1 - 1610
1902 Date Back	4x5	1 - 3365
1902 Date Back	3x10-20	1 - 1960
1902 Plain Back	4x5	3366 - 9995
1902 Plain Back	3x10-20	1961 - 6512
1929 Type 1	6x5	1 - 7344
1929 Type 1	6x10	1 - 3314
1929 Type 1	6x20	1 - 954
1929 Type 2	5	1 - 12408
1929 Type 2	10	1 - 6706
1929 Type 2	20	1 - 1795

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1980):

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

Shippensburg, PA, Wikipedia, https://en.wikipedia.org/wiki/Shippensburg,_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
The Franklin Repository, Chambersburg, PA, Wed., Jan. 17, 1866.
The Shippensburg News, Shippensburg, PA, Sat., Sep. 5, 1868.
Public Weekly Opinion, Chambersburg, PA, Tue., Nov. 7, 1876.
The Shippensburg News, Shippensburg, PA, Sat., Nov. 11, 1876.
Public Weekly Opinion, Chambersburg, PA, Tue., Jan. 21, 1879.
The Sentinel, Carlisle, PA, Fri., Jan. 20, 1882.
The Shippensburg Chronicle, Shippensburg, PA, Thu., May 26, 1887.
The Shippensburg Chronicle, Shippensburg, PA, Thu., June 9, 1887.
Valley Spirit, Chambersburg, PA, Wed., Jan. 22, 1896.
Carlisle Evening Herald, Carlisle, PA, Thu., Jan. 15, 1920.
The Chronicle, Shippensburg, PA, Thu., Jan. 22, 1920.
The Sentinel, Carlisle, PA, Thu., Jan. 15, 1925.
The Chronicle, Shippensburg, PA, Thu., Jan. 22, 1925.