• About
  • Advertise
  • Newsroom
  • Contact Us
Thursday, June 5, 2025
No Result
View All Result
NEWS ALERTS
GantNews.com
  • Home
  • Top Stories
  • News
    • Top Stories
    • A & E
    • Business News
    • Crime
    • Local News
    • Explore Jefferson
    • Features
    • Health News
      • Health & Wellness
    • Sports
      • Local Sports
  • Obituaries
  • Opinions
  • Classifieds
    • Real Estate
  • Clearfield County Fair
  • Home
  • Top Stories
  • News
    • Top Stories
    • A & E
    • Business News
    • Crime
    • Local News
    • Explore Jefferson
    • Features
    • Health News
      • Health & Wellness
    • Sports
      • Local Sports
  • Obituaries
  • Opinions
  • Classifieds
    • Real Estate
  • Clearfield County Fair
No Result
View All Result
GantNews.com
No Result
View All Result
ADVERTISEMENT
Home News Health News

THROWBACK THURSDAY: National Banking in Clearfield County, Pennsylvania

by Clearfield County Historical Society
Thursday, September 7, 2023
in Health News, Local News, Top Stories
0
0

By the end of the Civil War, in 1865, there was only one ‘bank’ in Clearfield County.

The ‘Private’ Bank, of Leonard, & Finney & Co., issued ‘script’ currency, which could be traded or used locally and redeemed for account credit or gold and silver coin.

The successor to this private bank was The County National Bank of Clearfield, Pa. Charter #855.

In 1866, the National Banking Act of 1864 became law.  By 1929, there were 15,000 National Chartered banks in the United States, including 1,198 in Pennsylvania, and 23 of those charters granted throughout communities in Clearfield County (as listed below).

National Bank Charters in Clearfield County  1865 – 1929DESPOSITION:
1The First National Bank In Of Sykesville, Charter #141
2The First National Bank Of Curwensville, Charter #300
3The First National Bank Of Clearfield, Charter #768
4The County National Bank Of Clearfield, Charter #855Converted to a state charter in 2005 – CNB Bank
5The First National Bank Of Dubois City, Charter #2969
6The Philipsburg National Bank Of Philipsburg, Charter #4832
7The Clearfield National Bank Of Clearfield, Charter #4836
8The Deposit National Bank Of Dubois, Charter #5019Bought by National Bank of the Commonwealth
9The Moshannon National Bank Of Philipsburg, Charter #5066
10The First National Bank Of Falls Creek, Charter #6384
11The First National Bank Of Osceola Of Osceola Mills, Charter #6501Bought by CNB Clearfield
12The First National Bank Of Houtzdale, Charter #6695Bought by National Bank of the Commonwealth
13The Citizens National Bank Of Curwensville, Charter #6969
14The Bituminous National Bank Of Winburne, Charter #7334
15The Madera National Bank Of Madera, Charter #7400Bought by CNB Clearfield – Now CLOSED.
16The Curwensville National Bank Of Curwensville, Charter #7430
17The Dubois National Bank Of Dubois, Charter #7453
18The First National Bank Of Sykesville, Charter #7488
19The Mahaffey National Bank Of Mahaffey, Charter #7610
20The Farmers & Traders National Bank Of Clearfield, Charter #8464
21The First National Bank Of Irvona, Charter #11115
22The Burnside National Bank Of Burnside, Charter #11902
23The Peoples National Bank Of Osceola Mills, Charter #11966
    PA State Chartered Banks,  around 1900DESPOSITION:
1Clearfield Bank and TrustBought by Mid-Penn Bank
2Karthaus State BankReopened by County National Bank
3Curwensville State BankBought by Northwest Bank

Only those banks in bold above survived the ‘Bank Holiday’ in Clearfield County.

Until 1929, these National Banks could issue ‘National Currency.’ Each National Bank could purchase the ‘Bank Inscribed’ printed notes or currency from the U.S. Treasury.

This new National Currency was implemented in part to finance the Union’s Civil War debt and to create a convenient paper currency sponsored and backed by the U.S. Government.

When issued, it was distributed through our nation’s National Banks; printed with the issuing National Bank’s full charter name, bearing the signatures of both the bank’s president and its cashier.

Some National Currency Examples: 

In the early days of banking, deposits in bank accounts carried a degree of risk:

Between 1929 and 1932, period of The Gret Depression, some 5,800 National Banks had closed or failed nationally.

In 1933, newly-elected President Roosevelt sponsored the Emergency Banking Act with Congress. This brought with it the FDIC, or The Federal Deposit Insurance Corporation, which is still protecting customer bank deposits with Federal Insurance.

Five Clearfield County National Banks were strong enough to reopen in 1933, along with several State-Charted banks with sufficient capital to qualify for the FDIC insurance coverage for their depositor’s protection.

Woman Accused of Smuggling Drugs into CCJ and Causing 3 Inmate Overdoses, Including 1 Death
LT Auditor: “We Don’t Want to Fight Over Time Card Issue” But Do Want to Reach Agreement Publicly
Tags: ClearfieldClearfield CountyClearfield County Historical SocietyClearfield County historylocal historyNational BankingThrowback Thursday

Clearfield County Historical Society

Next Post

Woman Accused of Smuggling Drugs into CCJ and Causing 3 Inmate Overdoses, Including 1 Death

Please login to join discussion
GantNews.com

© 2020 GantNews

  • About
  • Advertise
  • Newsroom
  • Contact Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Top Stories
  • News
    • Top Stories
    • A & E
    • Business News
    • Crime
    • Local News
    • Explore Jefferson
    • Features
    • Health News
      • Health & Wellness
    • Sports
      • Local Sports
  • Obituaries
  • Opinions
  • Classifieds
    • Real Estate
  • Clearfield County Fair

© 2020 GantNews