Pine Grove National Bank, Pine Grove, PA (Charter 8151)

Bank at 55 South Tulpehocken Street, Pine Grove, Pennsylvania, ca2022. Courtesy of Google Maps

Pine Grove National Bank/Pine Grove NB & TC, Pine Grove, PA (Chartered 1906 - Open past 1935)

Town History

Pine Grove is a borough in Schuylkill County, Pennsylvania. As of the 2010 census, the borough population was 2,186.

Pine Grove was officially incorporated in 1830 or 1832, although European settlement of the area—particularly by German Palatines—predates this official foundation date by at least a few decades. For example, historical records attest to Jacob Gunkle building a Lutheran church in the area as early as 1782. The historic Nutting Hall was built between 1823 and 1825. Both Nutting Hall and the surrounding Pine Grove Historic District are listed on the National Register of Historic Places.

The grove of pines from which Pine Grove derived its name was not within the town or even the limits of the township. The grove is accurately portrayed on a number of maps created before the Revolutionary War. The stand of trees through which the Shamokin Trail passed were in the valley on the south side of Mahantongo Mountain, east of Klinger's Gap.

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

Bank History

Organized March 22, 1906
Chartered March 29, 1906
Opened for business May 15, 1906
Bank was Open past 1935
Merged with the Lebanon Valley National Bank on December 7, 1966

The need for a National Bank to stimulate the commercial needs of the community was felt by a group of local business men during the early part of 1906. The matter of organizing a national bank was discussed at a meeting in April of that year in Barr's drug store. Several subsequent meetings were held at the office of Dr. Harvey P. Hess which eventually resulted in the appointment of H.L Gensemer and H.H. Hess, brother of Dr. Hess, as a committee to secure the necessary papers. Stock in the amount of $25,000 was immediately sold and a charter was secured. The bank was formally organized with Mahlon Boyer as president; Dr. H.P. Hess, vice-president, and H.H. Hess, George W. Gensemer, H.L. Gensemer, Alfred Gilbert, J.P. Martin, Cyrus Ankebraundt [Cyrus A. Ankerbrandt, merchant], Elwin Barr, William L. Fehr, William R. Mohn, and Benjamin Ray as directors. The new institution was opened for business on May 6, 1906 and received deposits in excess of $60,000. The first bank building was located on Tulpehocken Street adjoining the Sutton property in what was known as the Gicker Building. It had been converted to a banking house by remodeling the structure to provide a room on the first floor, accessible to the public. It was equipped with a safe and modern banking fixtures. The rest of the building was reserved as a tenement for the cashier. From this small beginning, the bank grew rapidly and in the course of two years was obliged to look for larger quarters. In 1908, the bank bought the Pennsylvania Hotel property. An extension was added to the building and the front was remodeled and trimmed with Indiana limestone. The capital was increased from $25,000 to $125,000.

On October 25, 1966, stockholders of the Lebanon Valley National Bank and the Pine Grove National Bank voted to approve the merger of the two banks. The merger was expected to provide additional banking services to the Pine Grove area. The local bank had assets of $7 million while the Lebanon Valley National had assets of $43 million. The Pine grave bank was located at 55 South Tulpehocken Street, Pine Grove, PA. The merger with Lebanon Valley National Bank became effective December 7, 1966.

Official Bank Title(s)

1: The Pine Grove National Bank, Pine Grove, PA

2: The Pine Grove National Bank and Trust Company (1/28/1931), Pine Grove, PA

Bank Note Types Issued

1902 Plain Back $20 bank note. The signatures have faded, but a trace of President Dr. Harvey P. Hess' signature remains. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $10 bank note with the second title for this bank. The printed signatures are those of Edward J. Henninger, Cashier and Horace H. Hess, President. Courtesy of Heritage Auctions, www.ha.com

A total of $415,150 in National Bank Notes was issued by this bank between 1906 and 1935. This consisted of a total of 33,340 notes (26,416 large size and 6,924 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1: 1902 Red Seal	3x10-20	1 - 340
1: 1902 Date Back	3x10-20	1 - 1560
1: 1902 Plain Back	3x10-20	1561 - 6264
1: 1929 Type 1	6x10	1 - 474
1: 1929 Type 1	6x20	1 - 160
2: 1929 Type 1	6x10	1 - 274
2: 1929 Type 1	6x20	1 - 66
2: 1929 Type 2	10	1 - 865
2: 1929 Type 2	20	1 - 215

Bank Presidents and Cashiers

Pine Grove National Bank Presidents and Cashiers during the National Bank Note Era (1906 - 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

Pine Grove, PA, Wikipedia, https://en.wikipedia.org/wiki/Pine_Grove,_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
Joseph H. Zerbey, History of Pottsville and Schuylkill County, Penna, Pottsville Republican, Pottsville, PA, Sat., June 8, 1936.
Joseph H. Zerbey, History of Pottsville and Schuylkill County, Penna, Pottsville Republican, Pottsville, PA, Sat., Sep. 14, 1935.
Lebanon Daily News, Lebanon, PA, Wed., Oct. 26, 1966.
The West Schuylkill Press and Pine Grove Herald, Tremont, PA, Thu., Jan. 26, 1967.