Greenfield — Banks
Extracted from "History of the Connecticut Valley in Massachusetts, Volume II," by Louis H. Everts, 1879.
The First National Bank.
This bank was incorporated in 1822 as the Franklin Bank, with a capital of $100,000, and commenced business in May of that year with fifty per cent. of the capital paid in; the remaining fifty per cent. was paid in the December following. In March, 1831, the name was changed to the Greenfield Bank. In March, 1833, the capital was increased to $150,000, and in April, 1849, again increased $50,000, making it $200,000. In June, 1864, the bank was reorganized under the national bank act as The First National Bank of Greenfield. In March, 1865, the capital was increased to $300,000, at which amount it remained until March, 1879, when it was reduced to $200,000.
The following is a list of the presidents and cashiers, with their terms of service: Jonathan Leavitt, president from March, 1822, to November, 1830; William Pomeroy, November, 1830, to October, 1838; Henry W. Clapp, October, 1838, to October, 1855; Franklin Ripley, October, 1855, to October, 1858; Wm. B. Washburn, October, 1858, to the present time. Franklin Ripley, cashier, March, 1822, to October, 1855; Geo. Ripley, October, 1855, to June, 1857; E. W. Russell, June, 1857, to July, 1867; Geo. W. Ballou, July, 1867, to May, 1870; W. I. Jenkins, May, 1870, to October, 1874; J. W. Stevens, October, 1874, to the present time.
The Franklin County National Bank
was organized as a State bank, with $100,000 capital, April 24, 1849. The original directors were Henry W. Cushman, John B. Ward, Ebenezer Maynard, Henry Chapman, Almon Brainard, Quintus Allen, Ira Abercrombie, Joel Fay, Wendell T. Davis, Asa Howland, Wm. B. Washburn, William Keith; President, Henry W. Cushman; Cashier, Andrew G. Hammond. The capital was increased to $150,000, July 1, 1850; to $200,000, July 1, 1852. It was reorganized as a national bank March 13, 1865.
Presidents.—Henry W. Cushman, Ira Abercrombie, William Keith (in office).
Cashiers.—Andrew G. Hammond, Edwin Maynard, Charles I. Fuller, Rufus A. Packard, Henry K. Simons (in office).
May 1, 1879, the capital was $200,000; surplus and profits, $100,000; individual deposits, $265,000; United States deposits, $763,000. It pays semi-annual dividends at the rate of six per cent. per annum.
The Packard National Bank
was organized in 1875, with a capita] stock of $100,000. The officers are: President, N. F. Henry; Cashier, R. A. Packard, Directors, N. F. Henry, A. C. Deane, George A. Kimball, Almon Newcomb, Jacob Stever, R. A. Packard.
The Franklin Savings Institution
was incorporated April 2, 1834. The first officers were: President, Elijah Alvord; Secretary, Thomas O. Sparhawk; Treasurer, Franklin Ripley. Mr. Ripley continued to be treasurer till his death, in 1860, and was succeeded by W. H. Allen, the present treasurer. The officers now are: President, S. O. Lamb; Secretary, F. R. Allen; Treasurer, W. H. Allen. The deposits amount to about $2,800,000.
The Greenfield Savings Bank
was incorporated March 19, 1869. The original corporators were John Sanderson, William Keith, Chester C. Conant.
President.—John Sanderson (in office).
Treasurers.—Rufus A. Packard, Henry K. Simons (in office).
May 1, 1879, the deposits were $840,000. Officers: President, John Sanderson; Vice-President, William Keith; Treasurer, Henry K. Simons; Secretary, Chester C. Conant; Trustees, William Keith, Quintus Allen, Dennis Dickinson, George H. Hovey, Virgil M. Howard, George A. Arms, Elijah E. Belding, Leonard Barton, Eben A. Hall, Lyman G. Barton, Levi J. Gunn, Francis M. Thompson, Charles R. Lowell, Charles Keith, Henry K. Simons.
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