Chartered on January 28, 1812. Re-organized for 20 years, from 1885 under National Banking Act.
From: "Newark, the City of Industry" Published by the Newark Board of Trade 1912
One of the more recent office buildings to be erected in the city is the new National State Bank building at the southeast corner of Broad and Mechanic Streets. It was designed to provide suitable quarters for the bank and also to produce an income commensurate with the value of the plot. The building occupies the site of the old iron structure, long a landmark of the city.
The new building is 12 stories high and has a frontage of 49 feet on Broad Street and 88 feet on Mechanic Street. The bank occupies the entire first floor, including a mezzanine on the south side, which provides very spacious and comfortable quarters for its increasing business. The basement is arranged to contain a modern safe deposit vault which is for the use of the bank.
The upper stories are divided into offices with every modern convenience, and are served by three elevators, with an entrance on Broad Street through a roomy corridor on the ground floor. The construction is fireproof throughout, the quartered oak trim and floors are treated with a fireproofing composition. The halls and other public parts of the building and banking rooms are finished with marble floors and wainscotings.
As the National State Bank has been in existence for 100 years, it is peculiarly fitting that the celebration of its centennial should be marked by the erection of this beautiful new structure.
It was on February 8, 1812, when this bank was formed. Business was commenced June 1, 1812. In the same month the board decided to purchase a site for the future home of the bank, to erect upon it a suitable banking house. The place selected was the present site upon which the bank now stands. The lot had a frontage of 49 feet on Broad Street and 117 on Mechanic Street. It, however, did not include all the property that the bank now owns. For what was then purchased the directors agrees to pay $2,800, and on July 21 of that year the deal was closed. Soon afterward work was begun on the banks' first home of its own. The building cost about $5,000, and the bank took possession on March 3, 1813. The capital stock actually paid in on November 9, 1813, was One Hundred Thousand Dollars.
Along the early part of 1868 the institution began to feel the need of more room for its growing business, and it accordingly erected a new building on the rear of its property for its own occupancy, then built on the Broad Street front, another structure to rent for office purposes, having an entrance to the banking room through the centre form Broad Street.
These buildings had been in constant use until recently torn down, and were replace by the new $350,000 12 story structure now occupied by the bank.
|Copyright 1998 - 2021 Glenn G. Geisheimer|