Penns Grove National Bank & Trust Company

Source: TFPNJ Postcard Archive

Penns Grove National Bank & Trust Company was established by John Danby in 1900. As far as I can tell it was the first bank ever established in the newly incorporated borough. After outgrowing their first two homes, a brand new structure was built at the corner of Main and Oak streets in 1928.

The building itself was a humble yet handsome two story red brick building with limestone trim. Each bay was separated by a series of fluted pilasters. Six arched windows on each side and a half moon above the front doors allowed the space to fill with natural light. 

The most significant moment in the bank's history came in 1934, when a group of armed men attacked two employees outside the building. The employees had $130,000 ($3mil today) in cash, which was being prepared for payroll at the nearby DuPont plant. After grabbing the cash the robbers fled un a stolen car, which they ditched in the farmland just outside town. All of the members of the heist ended up getting caught, but most of the money was never recovered. 

Salem County experienced servere economic turmoil throughout the 1980's, and Penns Grove was no exception. Deindistrialization and advances in agricultural equipment left the region with few good paying labor jobs and a large out of work population with mortgages to pay. By the time the bank closed in 1991 it was one of the few buildings left standing on the block. Everything else had been demolished after sitting abandoned for years. 

In the early 2000's the borough began a redevelopment initiative to bring life to the long blighted section of Main Street, using the riverfront as an anchor. Things never really took off though, and decades later the area still remains a blighted mess. 

Another redevelopment plan launched in 2024 sought to establish a land bank to try and tackle blight. However, the W. Main Street district was not specifically mentioned in the plan. I fully expect the rest of the structures on the block to eventually be demolished, as they've been deteriorating for 35 years at this point. Only time will tell.

Thanks for learning with me.