In Riverton’s latest example of “What’s old is new again,” the newly transformed bank building at the corner of Main and Harrison Streets will be the scene for the next HSR general membership meeting on June 9, 2011 (See the May 2011 Gaslight News for details).
Long a Main Street landmark, the building has been home to a number of financial institutions since it was constructed. But, how many and when?
Fellow HSR member and professional historian Paul W. Schopp refreshes our memory as he relates below the history of the decades-old bank building, now called The Bank on Main, which has been re-purposed as a new private venue for social and business events. – JMcC, Ed.
The Cinnaminson National Bank of Riverton incorporated in the fall of 1906 and acquired a lot on the east side of Main Street in November 1906. The new banking firm immediately began erecting the brick building and frame wagon sheds on the lot located between Freddie’s Shoe Repair and the former Riverton Post Office. In 1928, the Cinnaminson National Bank received permission to offer Trust services to its customers. As a result of this action, the bank reincorporated as the Cinnaminson Bank & Trust Company and then constructed a new building at 604 Main Street. The bank retained the architectural design services of Davis, Dunlap & Barney of Philadelphia. This partnership dissolved in circa 1928, so the bank building in Riverton can be numbered among the firm’s last commissions.
The Cinnaminson Bank & Trust Company continued to operate under that name until at least 1966, with a branch in Palmyra and in Cinnaminson, when it may have changed its name to Garden State Bank. In the late 1960s Camden Trust Company requested permission to merge the Cinnaminson Bank & Trust Company into itself. In 1969, Camden Trust restyled itself as The Bank of New Jersey. The following year, The Bank of New Jersey did receive permission to proceed with the merger and the Cinnaminson Bank and Trust Company/Garden State Bank entered the realm of banking history. In 1982, Princeton Bank received permission to merge The Bank of New Jersey into itself with Princeton Bank being the successor firm. Chemical Bank New Jersey and Princeton Bank merged in 1990. Chemical Bank New Jersey became part of PNC Bank New Jersey in 1995 and the Riverton Bank operated as a PNC Bank for just over a year. In the second-half of 1996, Farmers & Mechanics Bank took over operations at 604 Main Street, although it is unclear whether they owned or leased the building. Farmers & Mechanics merged into Beneficial Savings Bank of Philadelphia in July 2007. In a cost-cutting move, Beneficial closed its Riverton branch and the building remained empty until The Bank on Main acquired the former bank for a catering hall. – PAUL W. SCHOPP
The images in the picture gallery above show some items from the HSR archives. We welcome comments about the bank which has served generations of Rivertonians and would like to post scans or photos of any mementos that readers may have. – JMcC, Ed.
P.S. Also posted today were a number of postcard scans; 24 additional Avalon, NJ images, 7 Ocean City, NJ images, 6 Collingswood, NJ images, and 4 Sea Isle City which were cataloged in with the Miscellaneous grouping.