Banks in Wellsville (1896) 

E.P. Clark, the first banker, had an office in his store on Pearl street early in the fifties.  

 In 1868 Wm. A. and Sumner Baldwin established the “Bank of Wellsville,” a private institution which continued in business until January, 1894, when a disastrous failure was made. 

Yorke & Chamberlain’s bank, established in the early sixties, failed in 1877. 

The solid First National Bank had its foundation in the old Hoyt & Lewis bank which began in a small way in 1856, when arrangements were made by Hoyt and Lewis (dry goods merchants here) with a dry goods house in New York City to make deposits and draw drafts.  Until February, 1879, business was conducted in an office partitioned off from the store in the Union block, then the bank was moved into the Yorke & Chamberlain bank building on Main and Furnace streets, now the Beever meat market.  Mr. Lewis conducted the bank business while Mr. Hoyt attended to the store.  December 26, 1881, another removal was made into the present bank building, constructed by Hoyt & Lewis on Main and Madison streets.  F. H. Furman became cashier.  The business increased rapidly, and Jan. 3, 1883, a national bank was organized.  H.N.Lewis was elected president, Hon. E.J.Farnum, vice president; and Frank H. Furman cashier.  January, 1886, Hon. E. J. Farnum was elected president and in 1891 was succeeded by Hon. W. F. Jones.  The present officers are: Hon. W.F.Jones, pres.; Hon. C.A.Farnum, vice president; F.H.Furman, cashier; J.B.Jones, assist. Cashier.  Wm. Duke and George E. Brown with the officers named constitute the board of directors.  The deposits at the close of September, 1895, were $336,187.02.  The bank is capitalized at $100,000.  

In 1886 H.N.Lewis established a private bank which succumbed in the panic of ’93 and had to shut doors in August of that year.  

The Citizens National Bank began business in the spring of 1895 in the banking rooms formerly occupied by Baldwin Bros.  It has a capital of $50,000. with deposits aggregating in Sept., 1895, $113,231.62.  The officers are T.P.Otis, pres.; E.A.Willets, vice pres.; C.W.Curtis,Jr., cashier.  The directors are these officers and Wm. K. Paul,  W.J.Richardson, L.W.Rockwell, Charles Day, A.E.Cowles, W.C.Farnum, and C.W.Curtis, Jr. 

(Transcribed from: "Allegany County and Its People: A Centennial Memorial HISTORY OF ALLEGANY COUNTY,NY"

John S. Minard; W.A.Fergusson & Co., Alfred,NY, 1896)