1915 — 1965
September 18, 1965
Foreword
Building and Loan Associations, Co-operative Banks and Savings and Loan Associations have formed a vital and helpful part of our country’s economy since 1831. It was in that year that the first Building and Loan Association was formed in Frankford, Pennsylvania, which is now a part of Philadelphia.
Thirty-seven men formed this first co-operative venture, all intent upon having homes of their own. Individually they were not able to attain their goal, but collectively they were able to pool their resources and each in turn was able to obtain funds to build a home. No government agency subsidized these homes, for such a course of action was not thought of in those days. The acquisition of homes by the members of this first Building and Loan Association was a tribute to private enterprise functioning at its best in a co-operative effort.
The Hampton Co-operative Bank
In the year 1915 the Town of Hampton might have been described as a “sleepy little hamlet and the residents of the community numbered approximately a thousand. It was in this year of 1915 that a group of public spirited individuals decided to form a building and loan association and thirty (30) persons agreed to support such an organization and signed articles of agreement. The articles of agreement were filed with the proper authorities at the State Capitol, approval was granted, and thus the Hampton Co-operative Building & Loan Association came into being on the 30th day of August, 1915.
Charter Members
The records show that the following were the charter members in this new venture:
| John A. Janvrin | William A. Pressey |
| Herbert Perkins | James S. DeLancy |
| Chester G. Marston | Ira S. Jones |
| William Brown | Levi Willcutt |
| E. Henry Thompson | Warren H. Hobbs |
| Fred L. Quimby | Elroy G. Shaw |
| Arthur M. Fernald | Clinton H. Durant |
| Abbott L. Joplin | Henry G. Boynton |
| Kenneth N. Ross | Lemuel C. Ring |
| George A. Johnson | S. E. Thurlow |
| Leavitt B. Brown | George W. Philbrook |
| Byron E. Redman | Charles Francis Adams |
| H. Lester Tobey | Edward J. Brown |
| Ernest G. Cole | Joseph B. Brown |
| Victor G. Garland | Randall A. Young |
First Elected Officers
President — EDWIN L. BATCHELDER
Treasurer — HERBERT PERKINS
Secretary — H. LESTER TOBEY
| Harry G. Boynton | William Brown |
| Ernest G. Cole | Joshua N. Janvrin |
| Howard G. Lane | Amos T. Leavitt |
| Irvin E. Leavitt | Chester G. Marston |
| Harry D. Noyes | Lemuel C. Ring |
| Thomas L. Sanborn | Walter A. Scott |
The Bank began business on October 1, 1915 and at the end of six months one real estate loan was on the books in the amount of $1,050.00. The assets of the institution at the end of the first six months stood at $2,486.90.
Board of Directors
Board of DirectorsOur First Office
Our First OfficeThe first office of the Association was in the building now occupied by the Hampton Center Barber Shop. Mr. H. Lester Tobey, the first Secretary, conducted an insurance and real estate business at this location and the Association’s business was conducted in this office until 1938. At that time a new office became available in the Odd Fellows Block and the Association, in company with the Tobey & Merrill Insurance Agency, moved across the street. The Association business was still conducted in the same quarters with the Insurance Agency.
Growth Continues
Growth ContinuesBy 1950 the activity of the institution had increased to a point where more adequate quarters became a necessity and the area in the Odd Fellows Block, adjacent to the insurance agency, was taken over by the Bank.
In 1949 the lengthy name of the institution was changed to “Hampton Co-operative Bank.” On August 3, 1953 the Bank became a member of the Federal Home Loan Bank System and on July 11, 1955 our shareholders accounts were insured by the Federal Savings and Loan Insurance Corporation up to $10,000 for any individual account. The first share account was issued to Benjamin F. Smart on October 1, 1915. Mr. Smart was the Chief in charge of the Hampton Life Boat Station, which is now called the Hampton Beach Coast Guard Station.
Charter Members
At the present time there are six of the original Charter Members living and of these, two are still shareholders. It is also interesting to note that one of the original Directors, Chester G. Marston, is still a member of the Board.
The men who have served as President of the Hampton Co-operative Bank are as follows:
| Edwin L. Batchelder | 1915-1922 |
| Howard G. Lane | 1922-1946 |
| William Brown | 1946-1951 |
| Charles E. Greenman | 1951 – |
Growth Of The Bank’s Assets
1920 — $30,027.58
1925 — $74,578.02
1930 — $104,655.05
1935 — $136,373.84
1940 — $265,044.46
1945 — $397,605.56
1950 — $898,439.32
1955 -— $1,881,028.04
1960 -— $3,552,772.20
1965 -— $5,150,783.26
The managing officers of the Bank over the past fifty years have been H. Lester Tobey, who served from 1915 to 1926 and since that time Dean B. Merrill has served as managing officer and he has been ably assisted since 1951 by the Assistant Treasurer, Norman N. Merrill.
Bank Personnel
Dean B. Merrill, Mrs. Samuel A. Towle, Mrs. John T. White, and Norman N. MerrillThe Bank is efficiently served by Mrs. Samuel A. Towle and Mrs. John T. White as tellers.
As we complete fifty years of growth and service to the seacoast area, we wish to acknowledge the support and confidence of all the people who have been, and presently are, our shareholders and borrowers.
Hampton and the seacoast area is a wonderful place in which to live and work and being able to help others to save for the “rainy day” and to have a part in providing homes for our people is a very rewarding experience. And when we add to this the many friendships made along the way, the Board of Directors, the Officers and Staff of the Hampton Co-operative Bank wish to express to you a sincere
“THANK YOU.”
Chester G. MarstonChester G. Marston was born December 3, 1881 and has lived in Hampton all his life, serving his community in many ways. He is a barber by trade.
Chester served the Methodist Church of Hampton as Treasurer for many years. He was always interested in civic affairs and held the office of Town Treasurer from 1923 to 1951. He was also School Treasurer for 25 years.
Fraternally he is a member of Star In The East Lodge of Masons and the Rockingham Lodge of Odd Fellows.
He has always enjoyed life in the open and has for many years, in company with friends from Hampton and Exeter, taken annual hunting vacations in the north woods of our State. We are sure these experiences provide many bright and happy spots in Chester’s recollections.
To us in the Hampton Cooperative he is known as a charter member and as a director serving continuously for fifty years. Chester has always been interested in the well-being of his fellow man and in his capacity as director, in company with others, has enjoyed seeing the bank extend its help to many deserving persons.
The officers and directors extend sincere congratulations and best wishes to Chester as he completes fifty years of service to the Hampton Co-operative Bank.
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