Portland National Bank stock certificate 1889 (Maine) - certificate no. 2

Portland Maine banking stock. Great top vignette of a smaller Maine state seal. Issued and cancelled. Gold corporate seal worn. Dated 1889. Certificate number 2. Measures approximately 10 x 6.5 inches.

The Portland National Bank was organized August 20, 1889 and chartered (4128) September 25, 1889.

In September 1912, the Portland National Bank assumed deposit liability of the Cumberland National Bank of Portland. The Portland National merged with First National Bank at Portland, ME in December 1939, becoming First Portland National Bank.

In March 1960, stockholders of the First Portland National Bank and the First National of Rockland approved the merger of the two institutions. The merged institution eventually to be known as the First National Bank of Portland. 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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