Oldest Operating National Bank

Happy New Year to all my readers as I head into my 26th year writing for Bank Note Reporter. I hope everyone has a happy and healthy New Year. For my first article of this new year, we will visit Maryland’s Eastern Shore, that part of the state that is on the eastern side of the Chesapeake Bay. The Western Shore, which contains the metro Baltimore and Washington areas, is very cosmopolitan as part of the D.C. – Boston Corridor. The Eastern Shore, along with adjacent Delaware, is a rural farming area with traditions and families stretching back centuries.

After crossing back into Maryland from a brief trip to central Delaware, I took a short detour on State Route 304, which headed two miles east to Centreville in the Eastern Shore’s Queen Anne’s County. I knew Centreville had been the home of two note-issuing national banks; it had been quite some time since I had last visited the town, and I thought it would be good to check it out again.

Centreville, Md., is the seat of Queen Anne’s County, a subdivision of Maryland’s Eastern Shore. The town was incorporated in 1794, shortly after the Maryland Assembly authorized the removal of the county seat from Queenstown to a more central part of the county. That’s why the town was named “Centre Ville”, with French spelling because of the post-Revolutionary War admiration for the French. A plantation called Chesterfield was chosen as the land to use for the new town, which would hold the county’s courthouse; the courthouse building was completed in 1792.

The Queen Anne’s County Courthouse is the oldest courthouse in continuous use and one of two 18th-century courthouses in Maryland. At the time of its completion, it was composed of four rooms, two in the center and one on each side. In 1876, it was renovated and remodeled to add more space and an iron balcony was also added to the second story. Today, Centreville is the largest town in Queen Anne’s County, with a population of 2,297. Many residents of the town work in some capacity to supply public officials and farmers with the resources necessary to maintain Centreville’s economy and preserve its place as an important and historical place in Maryland. Centreville’s history is reflected in the diverse architecture seen along the streets of the town—elegant Victorian homes with their wrap-around porches, neo-classical public buildings, and late-19th-century commercial rows.

Centreville was also home to two note-issuing national banks. The Centreville National Bank of Maryland, charter #2341, opened in 1876 and still operates today under its original title, though it has been shortened to CNB. It is the oldest national bank in Maryland, still operating under its original name. Its original officers were William McKenney, president, and William A. Cunningham, cashier. Despite its long life, it was a relatively small issuer, putting out just $675,000 in currency over a nearly 60-year span. As it opened in 1876, it issued First Charter notes until 1897, and then a potpourri of Series 1882 Brown and Date Backs, Series 1902 Plain Backs, and Series 1929 notes in both Types 1 and 2. Currently, eight large and ten small notes are reported; two of the large notes are Series 1875 $10 notes, which is not all that surprising given that this type was issued until 1897. I have included a photo of one of these notes, along with a nice grade small size $5 issued by the bank.

In 1884, Centreville’s second bank, the Queen Anne’s National Bank of Centreville, obtained charter #3205 and opened for business. Its building was right next to the Centreville National Bank and faced the courthouse square. Though it issued $472,000 in currency, it remains a very rare bank for notes. Its original officers were Thomas J. Keating, president, and James Wooters, cashier. It was liquidated in 1931, and currently, there are just five large and three small notes reported. One of the large notes is a $20 Red Seal that once resided in my collection. I sold it a few years back when I obtained a blue seal note on the bank; it is one of just two Red Seals known from any bank on Maryland’s Eastern Shore and is quite a rarity. I have included a photo of it to accompany this article. As you can imagine, notes from this town are quite hard to find and seldom available.

Centreville today is a very lively and attractive small town that combines the best of historic preservation with modern amenities. As one meanders into the old town, the panorama of wonderfully historic architecture comes into view. Most of the oldest buildings are clustered around the Queen Anne’s County Courthouse, an early Federal Style structure completed in 1792. The county was organized in 1706 and named after the then-current reigning monarch of Great Britain, Queen Anne. A statue of Queen Anne sits on the lawn in front of the courthouse; it was dedicated in 1977 and Princess Anne, the Princess Royal, daughter of Queen Elizabeth II, attended the ceremony. I have included photos of the statue and a silver Crown (five shillings) of Queen Anne with an excellent portrait of the last Stuart monarch.

The Centreville National Bank of Maryland still operates from its original modified structure on the corner of Commerce Street and Lawyers Row. The building really is quite classic with massive wooden doors, an Ionic columned entranceway, and the words CENTREVILLE NATIONAL BANK neatly engraved along the pediment. I have included photos of the front of the bank facing Commerce Street, and the much longer side on Lawyers Row, which also has a similar style entrance. Note the old burglar alarm box on the wall.

Directly next to this bank sits the old Queen Anne’s National Bank building, erected in 1903 and currently the Centreville Town Hall. It is a very well-preserved old structure, and its left side is graced with a combination clock/bell tower. A granite block embedded in the façade just below the clock tower still bears the words QUEEN ANNE’S NATIONAL BANK. The courthouse square is graced with old-growth trees, and there are many active businesses and shops all along the length of Commerce Street. I have included a vintage postcard view, circa 1925, that shows both banks. This same view is impossible to photograph today as large trees interrupt the view.

Centreville is easily reached from Baltimore by crossing the Chesapeake Bay Bridge on US Route 50 and then taking US Route 301 north to State Route 204. It can also be accessed from Wilmington, Delaware, by taking US Route 301 south. The town has many amenities, fine homes and restaurants, and modern schools. It is close enough by highway to both Annapolis and Dover, Delaware, making it an attractive choice for many families. It is so quaint and friendly that I can heartily say that a visit to the area will be quite rewarding.

Readers may address questions or comments about this article or national bank notes in general to Mark Hotz directly by email at markbhotz@gmail.com.