Cause for Celebration in NY: Local Building has been a Bank for 200 Years Now

Cherry Valley, NY (October 1, 2018) – The Cherry Valley branch of NBT Bank has housed a number of different banks over the past 200 years, but it has always been a bank since the National Central Bank first opened on October 8, 1818. It is also the oldest bank in New York State west of Albany.

NBT Bank will be celebrating this milestone – which is especially significant in a small town, and in an industry that is shifting more and more toward self-service technologies.

*Media opportunities*

WHEN:      Tuesday, Oct. 9 – Friday, Oct. 12
WHERE:   NBT Bank of Cherry Valley, 16 Main St, Cherry Valley, NY 13320
WHAT:     Lunch provided from local restaurants for bank customers, raffle for local giveaways, historical items on display, media interview opportunities

WHEN:      Friday, Oct. 12 at 2:00 pm
WHERE:   NBT Bank of Cherry Valley, 16 Main St, Cherry Valley, NY 13320
WHAT:     Press conference and NBT Bank check presentation to Cherry Valley Historical Association; interviews with bank representatives, historical association representatives and community officials

The bank has also partnered with the Cherry Valley Museum to display a special exhibit with historic bank artifacts from the past 200 years, including branded deposit bags, bank notes, office supplies, customer gifts, calendars, photos, news articles, annual reports and more.

“This building has always been of interest to us at the Cherry Valley Historical Association, ever since the Association was founded in the 1950s,” said Susan Miller, Town and Village Historian and Museum Secretary. “We have a few buildings from the 1790s and 1800s, but this is one of the oldest. In addition to the artifacts that we have on display, we have some great stories that have been passed down about the ‘crazy characters’ who were part of the first bank team in 1818. I’m looking forward to sharing some of those stories at the celebration on October 12.”

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According to bank documents, the Central (as National Central Bank was called) thrived in the aftermath of the United States first major financial crisis:

“During the panic of 1819 nearly all of the country banks in the state failed or temporarily suspended. The Central weathered the financial storm without trouble, although the Directors deemed it advisable to personally guarantee the redemption of its notes. The strength of the bank during this strain was good advertisement and it helped to increase deposits.”

“Cherry Valley is a community rich in history. It is a part of the Revolutionary War Heritage Trail and on the National Register of Historic places, and our bank is part of that history,” said Cherry Valley Assistant Branch Manager Christine Erway. “Through our contribution to the Cherry Valley Historical Association, NBT Bank is supporting the volunteers and other individuals who are equally as dedicated to preserving the history and uniqueness of our town.”