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Northern Bank, Providence

“The Northern Bank was incorporated in May. 1856, with a capital of $220,000. It was located at 36 Weybosset street. In 1875 it was removed to 16 Weybosset, its present location. Its capital gradually increased until [unreadable], when it reached the highest point, at $369,700, after which it diminished to $225,700, at which it has now stood for several years. The first directors were Stephen T. Olney, John B. Palmer, Vincent Carr, Williams Metcalf, David Ballou, William G. Pierce, George L. Claflin, William Whitcomb and John T. Mauran.

“The first president was Stephen T. Olney. He was succeeded in 1800 by William G. Pierce, who served till 1866, and was succeeded by John B. Palmer, 1866 to 1869; David Ballou, 1869 to 1877; Henry J. Steere, 1877 to 1882. The cashiers have succeeded as follows: Peter H.- Brown, 1856 to 1866; Sullivan Fenner, 1866 to 1882. The directors in that year were Henry J. Steere, William Whitcomb, Allen Greene, Josiah W. Crooker, George L. Claflin, Ebenezer Allen, Edwin G. Angell, George A. Seagrave and F. H. Peckham, Jr.” — Richard M. Bayles, ed. History of Providence County, Rhode Island, Volume I. New York: W. W. Preston, 1891.

The Northern Bank did not join the national banking system and ceased to do business on May 31, 1882.

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