Tamaqua National Bank, Tamaqua, PA (Charter 7286)
Tamaqua National Bank, Tamaqua, PA (Chartered 1904 - Open past 1935)
Town History
Tamaqua (pronounced tuh-MAH-qwah) is a borough in eastern Schuylkill County, Pennsylvania. The borough is in a Pennsylvania Coal Region with a population of 7,107 as of the 2010 U.S. Census. In 1900, the population was 7,267, peaking in 1930 at 12,936.
Tamaqua was settled in 1799 when Burkhardt (alternatively Berkhard) Moser, accompanied by his son Jacob and by John Kershner, built shelters and a sawmill at the confluence of the Little Schuylkill River and Panther Creek, which is downtown Tamaqua today. In 1817 anthracite coal was discovered by Moser and his son Jacob.
Originally to be named Tuscarora, the name Tamaqua was chosen after it was realized that there already was a community named Tuscarora about four miles to the west. Tamaqua, another Indian word for "running water" was chosen.
Tamaqua had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized May 23, 1904
- Chartered Jun 1, 1904
- Opened for business Jul 1, 1904
- Succeeded Tamaqua Banking and Trust Company
- Bank was Open past 1935
In January 1904, the shareholders of the Tamaqua Banking & Trust Co. decided to convert the institution to a National Banking Association under the new name of The Tamaqua National Bank, with capital of $100,000. The bank traced its ancestry to 1869 when the Tamaqua Trust Company was organized. The directors elected were H.A. Weldy, F.P. Spiese, W.S. Allebach, A.L. Leopold, C.B. Dreher, W.D. Zehner, J. Lineweaver, Philip Kolb, and Chas. S. Shindel. The officers of the Tamaqua Banking and Trust Co. were F.P. Spiese, President; Dr. C.B. Dreher, vice president; A.L. Leopold, cashier; and Webster C. Priser and Otto Kolb, tellers. On July 1, 1904, the Tamaqua Banking & Trust Co. merged into the Tamaqua National Bank and the Weldy block on the corner of Broad and Berwick Streets was formally transferred to the Tamaqua National Bank. In January 1906, the same officers were elected: F.P. Spiese, President; Dr. C.B. Dreher, vice president; A.L. Leopold, cashier; and Webster C. Priser and Otto Kolb, tellers.
In April 1908, the Tamaqua National Bank awarded a $30,000 contract to the Shamokin Lumber Company for a new bank building at Broad and Berwick Streets. The stonework was done using brick and Indiana limestone. This was the first multi-story masonry building erected in Tamaqua, dwarfing the frame building of J.M. Hadesty & Son which adjoined it on the west side. The bank was occupied in 1909.
On January 19, 1916, a disastrous fire raged for six hours in the business district of Tamaqua, destroying the J.M. Hadesty & Son building, Harry Gardner's building the Tamaqua National Bank and the George Wilford building. When the flames reached the bank, they went through the basement and also entered by way of the roof. The fire started in the alley between the Hadesty store and the Gardner building. In the Hadesty store, shells and powder exploded and the tar, gasoline, oils and paints made thick clouds of smoke--it soon burned to the ground. The loss to the bank of its building and fixtures was estimated at $48,000; the Bell Telephone exchange located in the bank building was destroyed at a loss of $25,000. The firemen of the American Fire Co., the Citizens Hose Co., the South Ward Co. as well as Lansford and Coaldale companies prevented the remainder of the business district from being destroyed.
The bank's reopening was on Monday, February 12, 1917. Since that time the banking business had been conducted in the Cunningham building on the opposite side of Broad St. Practically a new building was completed featuring a four-story fireproof structure with office rooms and the banking department on the first floor. Dr. Dreher, president of the bank was assisted in receiving guests by vice president S.G. Seligman, cashier A.B. Seal, Directors W.J. Butler, C.W. Royer, F.J. Scheid, Edward Weaver, Nels Nelson, Robert Graeff, G.A. Wilford, Fred. Freudenberger, and Dr. E.E. Weisner, assistant cashier Webster Priser, tellers William J. Wendell and Willard Gerber, bookkeepers John Orlosky and Paul Fitzpatrick.
In January 1966, the officers elected were Willis R. Parnell, president and trust officer; George Kolb, vice president; Mrs. Mary K. Weston, executive vice president; Joseph Neuklis, cashier and secretary; and Mrs. Helen R. Klingaman, assistant trust officer. Directors re-elected were Judge Guy A. Bowe Jr., Frank E. Delaney, Atty. Robert M. Harris, George Kolb, Willis R. Parnell, Lawrence F. Seligman, and Wayne C. Weaver.
On February 23, 1966, Sidney D. Kline, president of the American Bank and Trust Co. of Pennsylvania and Willis R. Parnell, president of the Tamaqua National Bank announced that directors of both institutions agreed on a plan to merge the two banks under the charter of the former. American Bank and Trust Co. of Pa., serving Berks, Lancaster and Schuylkill counties with 15 offices, had deposits of nearly $242 million while the Tamaqua national bank showed deposits of just over $9 million. On October 7, 1966 the merger was approved by the Federal Deposit Insurance Corporation. At the start of business on November 7 the merger became effective and the American Bank and Trust Company of Pennsylvania now had 16 offices.
A $5.7 million renovation of the former Tamaqua National Bank building, known as the Berwick House at 35 W Broad Street, was begun in 2021. The project is to make affordable housing available downtown. A $350,000 affordable housing grant came from the Federal Home Loan Bank of Pittsburgh, a $500,000 grant from PennHOMES program, and $485,000 in low income tax credits from the Pennsylvania Housing and Finance Authority. The remainder of the funding was from Riverview Bank.
Official Bank Title(s)
1: The Tamaqua National Bank, Tamaqua, PA
Bank Note Types Issued
A total of $2,352,200 in National Bank Notes was issued by this bank between 1904 and 1935. This consisted of a total of 189,364 notes (152,880 large size and 36,484 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 3x10-20 1 - 5100 1902 Date Back 3x10-20 1 - 10100 1902 Plain Back 3x10-20 10101 - 33120 1929 Type 1 6x10 1 - 3874 1929 Type 1 6x20 1 - 1036 1929 Type 2 10 1 - 5604 1929 Type 2 20 1 - 1420
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1904 - 1936):
Presidents:
- Franklin P. Spiese, 1904-1907
- Dr Charles Baer Dreher, MD, 1908-1932
- Charles Emanuel Christ, 1933-1935
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Tamaqua (Wikipedia)
- General information on Schuylkill County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Tamaqua, PA, Wikipedia, https://en.wikipedia.org/wiki/Tamaqua,_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
- Pottsville Daily Republican, Pottsville, PA, Tue., Jan. 5, 1904.
- Pittston Gazette, Pittston, PA, Wed., Apr. 22, 1908.
- Mount Carmel Item, Mount Carmel, PA, Wed., Apr. 22, 1908.
- Pottsville Republican, Pottsville, PA, Wed., Jan. 19, 1916.
- Pottsville Republican, Pottsville, PA, Fri., Feb. 9, 1917.
- Pottsville Republican, Pottsville, PA, Thu., Feb. 15, 1917.
- Pottsville Republican, Pottsville, PA, Wed., Feb. 23, 1966.
- Lancaster New Era, Lancaster, PA, Fri., Oct. 7, 1966.
- Standard-Speaker, Hazleton, PA, Wed., Mar. 17, 2021.