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Pocasset Bank, Fall River

As noted in 1877:

“The Pocasset Bank was incorporated by the General Assembly of the State of Rhode Island in May, 1854. Moses Baker, Oliver Chace and Joseph Osborn being named in the charter. The bank was organized June 3d, 1854, by the choice of Oliver Chace, Samuel Hathaway, Weaver Osborn, Gideon H. Durfee, and Moses Baker of Tiverton, and John C. Milne and Wm. H. Taylor of Fall River, Mass., as directors. Oliver Chace was elected president and Wm. H. Brackett cashier.

“The bank was located in the Fall River Union Bank building, corner of South Main and Rodman streets, then in Tiverton, R.I. In 1856, the town of Tiverton was divided, and that part wherein the bank was located became Fall River, R.I. In 1862 the boundary line between Rhode Island and Massachusetts was changed. Fall River, R.I., being set off to Massachusetts, and the bank, by authority of the Legislature, became a Massachusetts institution and was removed to the office in the north-west corner of the market building, now City Hall, on Main Street.

“February 1st, 1865, the bank was organized as a national bank under the title of ‘The Pocasset National Bank,’ No. 679…

“January 7th, 1862, Oliver Chace resigned the presidency, and Samuel Hathaway was elected to fill the vacancy. December 9th, 1862, Wm. H. Brackett resigned as cashier, and Edward E. Hathaway was elected to his place. April 15th, 1873, Weaver Osborn was elected president to fill the vacancy occasioned by the death of Samuel Hathaway.” — Henry Hilliard Earl, A Centennial History of Fall River, Mass. New York: Atlantic Publishing and Engraving Company, 1877.

The geographic change mentioned above was the result of a decades-long dispute that was decided by the United States Supreme Court in 1861. As a result, “Fall River, Rhode Island” became part of Massachusetts and “Pawtucket, Massachusetts” became part of Rhode Island.

In 1903, the Pocasset National Bank joined with two other banks to form the Massasoit-Pocasset National Bank. This organization was absorbed by the B.M.C. Durfee Trust Company in 1928, which itself eventually became part of Bank of Boston.

“Pocasset” is a Native American word from the Wampanoag language and means, “at the small cove.” The Pocasset Wampanoag tribe is from the Tiverton/Fall River area.



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