While the settlement is older, the name is not known to have appeared on an atlas until 1891. It was made a post office in 1889, and named in honor of Samuel B. Thatcher, a notable in the village. Thatcher was born on a Durham Township farm that was owned by his grandfather, Ludwig Afflerbach. A paternal ancestor, Bartholomew Thatcher, had settle in Quakertown. Samuel was a farmer but spent a lot of time in official positions including County Prothonotary (1860) and revenue assessor (1871), Justice of the Peace, president of an insurance company, and still found time to help organize and serve as a director of the Quakertown National Bank. Some this rubbed-off on his son, Charles, who in 1899 was elected clerk of the Quarter Sessions Court.