(EDITOR’S NOTE: A history of the later years of the bank will be published in an upcoming edition of The Luminary. If you’d like to learn more, a program will be held at the Montgomery Area Public Library to celebrate the 100th anniversary of the building. The program will be given by the Montgomery Area Historical Society and the library at 1 p.m., Saturday, Nov. 25. The Adam Room Museum will be open before and after the program.)

The borough of Montgomery was officially founded in 1887. By the year 1900, Montgomery had grown rapidly. Factories lined the two sets of railroad tracks. A wide array of businesses, shops, a newspaper, as well as three opera houses operated in town. But one thing that Montgomery lacked was a bank, and in the summer of 1900 the First National Bank was founded.

The Montgomery Centennial history book recorded that the bank’s first shareholders were: William Decker, George P. Hafer, Dr. A.P. Hull, R.R. McMichael, John Meixel, Frederick Metzger, Peter Rentz, D. W. Shollenberger, and Hervey Smith. It was further recorded that, “These directors took the prescribed oath of office and elected the following officers to serve during the first year of the new bank’s existence; President, Hervey Smith; Vice President, William Decker; and Secretary, D.W. Shollenberger.”

The bank opened for business on Monday, Nov. 26, 1900, according to The Muncy Luminary and Lycoming County Advertiser, November 29, 1900). The first day that the bank was open, new customers deposited a total of ten thousand dollars according to The Williamsport Sun publication dated Nov. 30, 1900, the equivalent of $366,415.48 in today’s money.

The bank was a small building constructed of red bricks. It only had one story and was located at 32 South Main Street.

As time went on, the bank adjusted well to the changing times. A new technological marvel was added to the bank in 1914. A machine was acquired that could record customer accounts and post ledgers, according to the Montgomery Centennial history book.

In early 1916, the bank acquired a large outdoor clock and mounted it on the front of the building. Lots of Montgomery residents used it to set the time on their own watches and clocks, according to the Montgomery Centennial history book.

At some point in the bank’s history, a second story was built onto the bank building. Records with an exact date weren’t available at the time of this writing, but a photo belonging to the Montgomery Area Historical Society shows people marching down Main Street to celebrate the end of World War I, passing by the bank building with the second floor completed.

The bank did well financially. After America emerged victoriously from the First World War, an economic boom happened across the nation. Between the years of 1919 and 1923, the bank’s assets doubled according to the Grit, Dec. 16, 1923.

A new bank building was needed, and a beautiful one was constructed at the corner of South Main Street and West Houston Avenue. On Saturday, December 15, 1923, the new bank celebrated with a grand opening, according to a Grit publication dated Dec. 16, 1923.

Meanwhile, the former bank building was purchased, renovated, and donated to the Montgomery Public Library, according to “Around Montgomery” by Joan Wheal Blank. The building still stands and is currently a private residence.

For most of America, the 1920s were a time of unprecedented prosperity. But in 1929, the Stock Market crashed, creating an economic disaster that ushered in the Great Depression. The Montgomery Centennial history book reported that in spite of the disaster on Wall Street, it didn’t seem to affect Montgomery for quite some time. With a collection of successful factories, life went on as usual for many in town. It wasn’t until about 1936 that some of the businesses in Montgomery began to succumb to the financial woes caused by the Depression.

While many banks throughout America suffered runs and others failed, Montgomery’s First National Bank was well run and avoided these disasters, according to “Around Montgomery” by Joan Wheal Blank.