First National Bank of Bath Maine stock certificate 1902 (Maine)

Bath Maine banking stock. Great top vignette of a smaller Maine state seal. Issued and cancelled. Staining obscures print on left side. Dated 1902 over 18__. Measures approximately 11 x 6.5 inches.

The historical First National Bank of Bath, Maine was a landmark financial institution founded in 1861 by local shipbuilder and businessman Oliver Moses. The First National Bank of Bath was chartered (#2743) in 1882. In late 1910, merged with the Lincoln National Bank of Bath.

In June 1960, the merger of the First National Bank of Bath with the First National Bank of Portland, formerly the Portland National Bank became effective. The merger was part of a three-way banking transaction which also saw the Thomaston National Bank merge with the Bath and Portland banks. In 1970, the First National Bank of Pittsfield merged with the Maine National Bank of Portland.

In August 1970, the Maine National Bank (MNB) acquired The First National Bank of Pittsfield. In 1972, MNB acquired The Kezar Falls National Bank. In 1981 it acquired The First National Bank of Biddeford. In 1982 it acquired Merchants National Bank of Bangor. MNB acquired Aroostook Trust Company in 1986 and added the Dirigo Bank and Trust Company (Augusta, ME).

The Bank of New England, Connecticut Bank and Trust Co. and Maine National Bank were subsidiaries of Boston-based Bank of New England Corp. In 1991, the Federal Deposit Insurance Corporation (FDIC) seized Bank of New England Corp. as a result of heavy losses in its loan portfolio. It was placed into Chapter 7. In July 1991, Federal Reserve officials approved Fleet-Norstar Financial Group, Inc.'s acquisition of the failed Bank of New England Corp., including its Maine subsidiary. The Maine Bureau of Banking approved Fleet Bank of Maine's application to acquire assets and assume deposits of Portland-based New Maine National Bank. Even with conditions imposed by the state regulator, Fleet Bank of Maine would be the state's largest bank.

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