As The Chestertown Spy reported last week, PNC Bank has decided to consolidate its Chestertown offices into its diminutive Washington Avenue site starting next month. This corporate downsizing order from the Pittsburgh-based corporation is another particularly sad and humbling experience for the community, but not for obvious reasons.
While it is hard to shed a tear for a bank in the same way one does the closing of a beloved bookstore or favorite restaurant, this particular bank is an exception to the rule because it resides in one of Chestertown’s grandest buildings.
For most Chestertownians of a certain age, the bank on High Street was never considered anything but the Chestertown Bank, no matter who really owned it. That the building has been used by PNC for the past few years, and Baltimore’s Mercantile Bank before that, was of little consequence. In Chestertown, that building was always the Chestertown Bank.
We mourn that bank of old as PNC starts packing up their files. The idea that the Chestertown Bank, one of downtown’s greatest symbols of commerce and fiduciary strength, will be replaced soon by a brewpub or, even more wildly, Washington College’s Bookstore (if the town is lucky), or a new fitness center (if the town is not lucky), causes a minor but reflective shock to the system.
The building and its long history as a community bank remains heavily ingrained in the memories of town folk. This was the bank where saving accounts were opened by teens, checking accounts opened by college students, car loans approved for the first time, and young families had their first home mortgages financed.
It was also the building where undergraduates would sweet talk their way into having the tellers keep the bank open after closing hours to cover bounced checks.
For others, particularly the older Kent County families, it was where fathers and grandfathers with names like Barroll, Beck, Fry, Haacke, Hogans, Valliant, and Usilton served on the Board. It was where Baltimore-based Mercantile CEO Baldy Baldwin didn’t just buy a bank, but became part of the community and took a seat on Washington College’s Board of Visitors and Governors.
For the town itself, it was the source of countless acts of philanthropy, large and small, driven in part by such thoughtful community leaders as Roger Simpkins and Ray Tarrach.
The building on High Street always seemed perfectly designed for its function. As if imported from the soundstage of the film “It’s a Wonderful Life,” with our own versions of George Bailey gently comforting widows and extending lines of credit for schools and farms, the Chestertown Bank of Maryland was part of a now dwindling example of what being a “good bank” was all about.
No doubt, the “good banks” are still here. The Chesapeake and Peoples Banks will carry on. They remain firmly planted in the life of the community. But when an old friend like the wonderful building on High Street comes to the end of its functional life as a bank, a proper eulogy is in order.
Marty Stetson says
Very nice, well written.
Milford Sprecher says
I, for one, miss the local banks. When I was growing up in Elkton, we had three locally-owned banks and they were of and served the community. When I lived in St. Michaels, there was St. Michaels Bank, where you didn’t have an account number or even need personalized checks. I guess they knew from your handwriting who you were and which account you had and they rarely, if ever, made a mistake. In an area where many people had the same last name, that was even more impressive. The edifices of these old institutions were also noteworthy. Now we can get cash from any ATM machine around the world and do so much on line, but there is nothing like the feeling of going into the bank and having them know you by name and feel that your money is helping build the community. That still happens, but we have lost a lot, too.
Al Townshend says
Double what Marty said. Lots of good memories.
Karen Smith says
Nothing like a hometown bank! I got my first car loan (at 22 years old) from Roger Simpkins the first day I arrived in Chestertown to teach at the college. With little fanfare, he approved the loan simply on the basis of my being gainfully employed by Washington College.
Patsy Hornaday family says
We too regret the closing of what has been the bank we started with 1985 when we retired and bought a home in Chestertown. Mr. Tarrack himself sat in on our closing with realtor Hurst Purnell. We are thankful a number of old family names are with People’s Bank and the stability of having two reputable downtown banks to turn to. We enjoy living in the Historic District and the pleasant High St. walk to our downtown bank and stores. Sadly, we wish PNC could have appreciated that need. We hope a new buyer can see the potential of having a front and back entrance with beautiful old offices lining its hall in this handsome and historic old building. I trust the Historic District Commission will encourage its proper transfer of ownership.
Ken Noble says
This Historic District Commission is not in the business of finding new owners for things. They don’t review uses. They review exterior design elements only. I would not “trust” them to these other functions if they had them.
I agree with Keith. There are certainly worse things than brew pubs and fitness centers. If I were a Washington College parent, I’d be buying textbooks on line before I sent my kid a mile downtown to buy his/her books Freshman year. Even the off campus bookstores at Yale and Harvard are within one quarter mile of the campus. Eighty percent of the students that they serve are graduate students who live off campus. Don’t decive yourselves Sho’Men, this ain’t New Haven or Cambridge and never will be.
Fletcher R. Hall says
With the death of Mr. Wilbur Ross Hubbard, the former owner of Wide Hall, and master of the Kent County Hunt, reports referred to the “end of an era”. So also it is with the building formerly housing the Chestertown Bank, Equitable Bamk, and most recently PNC Bank.
But eras do end and only fond memories are all that remain.
Of concern with the closing of this venerable Chestertown landmark is the future of the site and indeed the entire town. Yes, Chestertown will survive as it has done since the early 1700’s. But, what will it be? This is a significantly important question which will haunt the town for years if informed and perhaps hard decisions are not made soon. Hopefully this will be the focus of the upcoming town election.
The eulogy was both appropriate and deserving.
What about tomorrow and the many tomorrows to come?
Keith Thompson says
“We mourn that bank of old as PNC starts packing up their files. The idea that the Chestertown Bank, one of downtown’s greatest symbols of commerce and fiduciary strength, will be replaced soon by a brewpub or, even more wildly, Washington College’s Bookstore (if the town is lucky), or a new fitness center (if the town is not lucky), causes a minor but reflective shock to the system.”
It what is otherwise a nicely written eulogy, the above sentence mistifies me. Why would a Washington College Bookstore in the location be “lucky” for the town and a fitness center “not lucky”? Why this fascination with placing a brewpub in the location? Hey, I would enjoy a brewpub in that location too, but it seems that if the focus is to attract a new tenant for a venerable location, the focus should be on getting someone to invest in the space rather than get bogged down in specifics as to what would be the most appropriate use of the space. What you don’t say “no” to is more important than what you do say “yes” to.
matthew weir says
Keith, you make a good point. There are many in Chestertown who do not want to see a number things in the town. Ironically, there are few who put their capital at risk to invest in the community. Maybe we need more people to have less opinions!
bill arrowood says
While any loss is a blow to the community at large, with every closing door another opens…
Downtown is not without its empty storefronts, but today it has fewer than last year and those that are empty are somewhat difficult to manage physical spaces. (I struggle to think of the right fits for many of these spaces, not out of a want for the kind of businesses i wish we hadm but merely the contrivance or the space itself in many of them).
This venerable location however can be a glorious opportunity, not a tragedy. (The banking institution itself, a relative new comer in the annuls of the town, we are reminded is not leaving, just relocating to a more populace area of town, where it can continue to serve and be a faithful part of the community). I dont recall nearly the same sad words and loss were not expressed when Centerville Bank made the same decision not so long ago and yet their space on High Street was transformed into a lovely retail salon less than a year later.
Chestertown Bank, for all its nostalgia has been long gone, and we must look to the future.
Commerce as the town has known it for the last 50 years is not what it will be and that PNC chooses to stay in town in a different location should be seen with gratitude when many larger institutions could say that there is just not the volume of business necessary to remain. They have been stakeholders and supporters since their arrival in numerous community programs and events. The bank location on High Street is a big, somewhat unwieldy space, that if it had to be sacrificed to remain in business of the town, I would rather see than the complete loss of jobs and accounts.
Now to the future… brew pub, (the most whimsical idea if you have not considered what it would cost to retrofit that building and the operating costs of the average local brewer) or bookstore, (we are down 3 since last years high water mark of 6) or museum or frankly anything that brings life to the town must not just be seen and welcomed, but sought out, seeded, given opportunities and support.
Do not be deceived, we cannot simply blame the economy or our officials, though we hope they are active participants as we should be. The economy of Chestertown has always been a bit different from the rest of the world and we have more loss at folks that prefer to drive to Delaware to buy their groceries than the national trends. But finding the niche, and finding the folks that fill it will come with some time and some shrewdness. Be prepared to be surprised and above all, be encouraged.
Ron Moore says
Easily said by the majority of the people who have lived here who have “made it already.” Tell me Bill, what do you have to say to the people who have to commute to work, or the Washington College students who have to leave to make a living? For the amount of professionals that we have graduate every year from local institutions, surprisingly few (or unsurprisingly) stay here to make their homes, or start a business. Part of the problem is the consistant problem that an influential portion of the local population thinks “everything is fine in Chestertown.”
Bill & Carla –
Everything isn’t fine. The status quo is going to turn Chestertown into Cambridge before it turns us into New Hope (PA) or Historic Annapolis. Unless someone hoists a new sail on the fair ship Chestertown, we’re going to see more and more things that you won’t agree with. How much longer until we get a pay day loan//check cashing business? Maybe vehicle title loans? Consider that a pseudo pawn shop//precious metal business is already here, in a shopping center, and probably pulls just as much business as Pip’s. How long are you going to let the socioeconomic platform of this town degrade before you admit the kids aren’t alright?
Doug Brown says
Payday loans are illegal in MD. Just sayin’.
Randy Duyeene says
I agree Ron. The small mindedness of the old guard running things here in Chestertown is mind boggling. News Flash: With the Internet and smart phones these days, you rarely have to set foot in the physical location of a “modern” bank. I can deposit a check using my smart phone and do all my banking on line. I do not use a “local” bank because I do not feel like being charged for having my money deposited there, and other “fees” that are typically waived by larger banks (if you keep a certain balance). No business, bank or otherwise, has an obligation to anyone’s sentimentalities. Their obligations are to its investors. Chestertown has been run into the ground by the elite progressives who are continually re-elected. The schools are suffering. The local economy is suffering. There is no plan for the future. Yet, if anyone suggest that things could be done better, the overwhelming reply is, “If you don’t like it, you can leave. That’s how we’ve always done things.”. When that is the mentality, how will things ever turn around? My feeling is that Chestertown had an opportunity t grow when Walmart wanted to come here (which have attracted more foot traffic to the town and probably other businesses as well), but instead the elites came up with their convoluted ideas of how that would change things for the worse and instead of doing what would be best for the town, decided they’d rather get applauded at their cocktail parties. IF leadership in Chestertown does not change direction, barring forces outside their control, the town will continue its downward spiral.
Carla Massoni says
Thanks Bill!