First National Bank Celebrates 125 Years

Pam Fischer Photo

One hundred twenty-five years ago, on April 18, 1888, the First National Bank received its charter from the U. S. Treasury Department.  The application for the First National Bank 's charter was signed by Charles A. Dolley, B. C. Gallup, Arthur J. Hughes, John Rowley, Henry Hamlin, B. D. Hamlin, A. G. Olmstead, and Francis H. Root.

Dolley was a merchant, lumberman and manufacturer.  Gallup was a hardware merchant and Hughes was the founder and publisher of the Port Allegany Reporter.  Rowley was also a lumberman and both Hamlins were businessmen and bankers in Smethport.  Olmstead was a businessman from Coudersport and Root had ties with one of the tanneries in Port Allegany but was from Buffalo, NY.

Organized with a paid-in stock of $50,000 and nine individual stockholders with Olmstead having two portions, the bank began its business in a building on the corner of Main Street and Arnold Avenue but across Arnold Avenue from the present location.

The first report on the bank's condition, dated June 30, 1888 showed total deposits of $21,429.03 and total resources of $59, 682.89.  In 12 years, the total deposits had grown to $117,404.19 and the total resources to $192,178.30.  The First National reported deposits of $5,020.996.58 in its 75th year of operation and total resources of $5, 664, 786.99.  Figures for 1988 show total assets to be $25,909.707.47.

A new building was constructed across the street either in the fall of 1888 or the following year, depending on which historical source is read.  The FNB moved into the building which it still occupies today.

According to newspaper articles from the 100th celebration, a modernization of the bank occurred in the early part of the century when the original canvas awnings were removed from the front door and windows.  For a time, a rather permanent looking entrance was was built to shelter the outside steps.  It jutted out over a part of the sidewalk as did the steps.  Before the 75th anniversary of the bank, the directors decided that the front entrance had to be changed.  From the decision to change the entrance came the rather extensive changes in both the exterior and interior look of the bank.  The old-fashioned exterior didn't fit the new front entrance with its inside steps up to the lobby level so the old 1888 facade with its arched windows and roof eaves made way for the sleek, trim lines.

Inside the building, the banking operations had become crowded , sharing the space as they did with the Fleming Insurance company.  Fleming moved to other quarters and the bank expanded and created enlarged bookkeeping and directors' rooms.  A new decor was needed to unify the old and the new; air conditioning was added and the furniture replaced.  At this time, heating the sidewalks was added not only for easy snow removal but also public safety.

Another article from the 100th Year Celebration tells of the formal celebration held at the bank's main office.  The highlight of that celebration was the unveiling of a "commemorative work of art" - a stained glass replica of the bank's logo which was designed and created by Port Allegany's Jeff Speeth.   Bank president at that time, Lloyd Eastman spoke about the bank's history and participated in the ribbon-cutting ceremony.  

Mr. Eastman also talked about milestones in the bank's history like the opening of the branch bank located at Lillibridge Place on April 17 in 1978 as well as the purchase of an IBM system 36 computer system in 1985.  "The decision to purchase our own computer was influenced greatly by the fact that we felt the bank could best serve its customers and maintain hometown image by continuing to do all of our own data processing," Eastman told the crowd.  

Before unveiling the commemorative logo, Mr. Eastman said that the name Port Allegany stems back to pioneer days when travelers making the 23-mile portage from the west branch of the Susquehanna arrived here at Canoe Place.  Once here, Indians and pioneers could continue their travels down the Allegheny by boat.  

The logo is framed in red oak obtained from the sawmill owned by G. L. Carlson of Turtlepoint.  Glass for the project came from Kokomo, Indiana; Milston, West Virginia and Blanco, West Virginia.  The orange glass was obtained from Germany and the "flash glass" in the center came from France.

Also participating in the 100th-year celebration was Representative Kenneth Jadlowiec (R-Bradford).

After more than a half-century of employment, Mr. Eastman retired as chief executive officer and president of the bank on May 31, 1995.

He began his banking career as a bookkeeper at the First National Bank on his 21st birthday, May 31, 1944, moving up through the different positions of teller, assistant cashier, cashier, assistant trust officer, trust officer; he became a director in 1972; in July of 1974 he was named FNB President; he was inducted into the 50-year club during the 1994 PA Banker's Association Annual Convention.  

After retiring as president, Mr. Eastman continued to serve as Chairman of the Board and work at the bank, half-days until May 30, 2008.  In addition to business as usual for a Friday morning, the First National Bank lobby was full of customers and well-wishers as Mr. Eastman marked the last day of his 64-year banking career and his 85th birthday.  Mayor Don Carley declared the day to be Lloyd Eastman Day in Port Allegany.  

Mr. Eastman, who grew up in Wrights, is the son of the late Lessie and Ethel Meacham Eastman.  He graduated from Port Allegany High School in 1941, and on June 8, 1947 he married Dolores Botera.  The couple has three sons - Lance Eastman, Allegany, NY; Dr. Kevin Eastman, Savannah, GA; Dr. Alan Eastman, Homer City; and one daughter, Pam Fischer, Port Allegany.  They have eleven grandchildren, eleven great-grandchildren with another one on the way; and one great-grandson.  

He served his community as treasurer of many organizations including Band Boosters, Chamber of Commerce, S. W. Smith Memorial Public Library, Rotary, Port Allegany Area Economic Development Corporation as well as serving as church treasurer for the Trinity United Methodist Church (now known as Port Allegany United Methodist Church) for 29 1/2 years.

Mr. Eastman is a 50+ year member of the Port Allegany United Methodist Church and a 43-year member of the Port Allegany Rotary Club, with 43 years of perfect attendance.  

Named as successor to Mr. Eastman was R. Keith Fortner.  Mr. Fortner began his employment at the First National Bank in April 1977 and was named assistant cashier in 1980, then cashier in 1990.  He became a director in 1992, vice-president and director in 1994, and was named president/director/chief executive officer in 1995.  

Mr. Fortner also grew up in Wrights, the son of Robert and Virginia Fortner.  He graduated from Port Allegany High School in 1971 and earned a degree from Penn State University.  He has taken various banking courses from the American Bankers Association, Dunn and Bradstreet Business Education Services, and the Institute of Financial Education.  

He served on the board of trustees of the S. W. Smith Memorial public Library, holding the offices of vice-president and president.  

He also served as vice president and president of the Board of Directors of the Port Allegany Chamber of Commerce.  He recently finished a term on the Board of Directors of the PA Community Bankers Association, is a present member of the Port Allegany Municipal Authority and  the Perkins Committee at the Seneca Highlands Career Technical Center.

Mr. Fortner's greatest joy is being a husband, father and grandfather.  He and wife, Andrea, have two children - Denise and Scott.  The couple has six grandchildren.  

President Fortner gave an update covering the past 25 years at the First National Bank.  The Coudersport Office was opened in 1997.  The lobbies were renovated at both the main and Lillibridge offices and numerous upgrades in technology have been made to better serve customers.

In October 2009, we formed FNBPA Bancorp, Inc, which is the parent company of The First National Bank of Port Allegany.  At 12-31-12, total assets were approximately $97,800,000.00. 

The bank currently employs 24 people.  Officers include R. Keith Fortner, President, Chief Executive Officer and Chairman of the Board; Martin L. Moses, Executive Vice-President and Trust Officer; Joseph W. Lashway, Vice President and Senior Loan Officer; Cynthia L. Bosworth, Cashier and Assistant Vice-President; Jane Harrier and Lora Rankin, Assistant Cashiers;  Lisa K. Hobbs, Consumer Compliance, BSA & CRA Officer; and Patrick Bodamer, Bank Security Officer.