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North Providence Bank

The North Providence Bank received its charter in 1834 and was located in the village of Pawtucket, which was then part of North Providence. Uriah Benedict, a manufacturer of cotton thread, was first president and Daniel Wilkinson, cashier. (Wilkinson’s father, David , played an important role in the industrial revolution and today his mill is part of Pawtucket’s Slater Mill Historic Site). Later, Daniel Wilkinson served as President of the North Providence Town Council.

In 1854, Gideon L. Spencer was noted as president and John C. Tower was cashier of the bank. The capital was $125,350 at the time. Spencer’s father had been the overseer at Slater Mill and in 1864, Gideon purchased the property.

John Tower was also listed as secretary of the Pawtucket Mutual Fire Insurance Company in 1851, treasurer for North Providence in 1853, and as a member of the Pawtucket Town Council in 1879.

The bank failed in 1867 due to defalcation. Its state charter was officially forfeited on October 15, 1919.

 

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