Local History with Dede Terns-Thorpe - Mountains National Bank

A brief story about the Mountains National Bank in Tannersville which stood where the Tannersville Post Office Stands.

When googling the bank, I came across a great little story that started bright but ended sadly. Part of it we shared below.

The Mountains National Bank, Tannersville

President Sam Golding

Vice President Milo Claude Noseman

Cashier, B.D. Scudder

Established 1917

"Size doesnot necessarily denote strength. Justbecause something is large does not mean it is strong." We all know the stor of the lion and the mouse. How the puny mouse liberated the monarch of the wilderness fro mhis net, and how David slew the giant Goliath. These illustrations were given to prove that size alone is not proof of strength.

"The Mountains National Bank is not by any means the largest bank of Greene County, but we question whether there are stronger ones. The strength of an institution of this kind is not judged by its size but by its ability to meet its obligations. The bank is as strong as the confidence bestowed on it by its many depositors."

A 1920 news article said the bank showed a net profit of more than $5,000 during July and August. That's about $80,000 today.

How proud the locals must have been to learn they would have a brand new bank in 1917 located in the center of Tannersville Village.

A 1917 Poughkeepsie paper told how the Mountains National BBank would be opening in Tannersville, opening with a stock of $25, 0000.

The Great Depression, beginning in 1929 created trouble within 12 years after the bank opened. The papers said the Mountains National Bank had been named in court cases in 1929 and into the `930's. The Depression hurt everyone, and Mosemann and Lackey were struggling to keep the bank open. The two men helped to organize and create the Tannersville Country Club (Colonial). That too was forced to close. Moseman and Lackey's intentions were positive for the community, but the timing appears to have been poor.

Thanks for reading. Be well, and have a good day.

Stay Safe. Dede Terns-Thorpe