Citizens National Bank (Monessen, PA)

View Charter #11487 on SPMC View balance sheet

Episode Information

Episode UID
1148701576
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
114870 national
Charter Number
11487
Start Date
April 1, 1931*
Location
Monessen, Pennsylvania (40.148, -79.888)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e1f1f619a342c9b3

Response Measures

None

Receivership Details

Depositor recovery rate
48.1%
Date receivership started
1931-04-17
Date receivership terminated
1935-10-29
OCC cause of failure
Losses

Description

Bank closed April 1931 and a receiver was appointed after alleged misapplications by officers; receiver later sued surety.

Events (6)
1. October 24, 1919 Chartered
Source
historical_nic
2. January 2, 1931 Voluntary Liquidation
Source
historical_nic
3. April 1, 1931* Receivership
Newspaper Excerpt
Odland was appointed receiver for the bank upon the resignation ... when the bank closed April 1931.
Source
newspapers
4. April 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged misapplications by cashier John S. Duvall and assistant John D. Mammas discovered Dec. 10, 1930, leading to closure and receiver appointment.
Newspaper Excerpt
Odland was appointed receiver for the bank upon the resignation Coppedge when the bank closed April 1931.
Source
newspapers
5. April 17, 1931 Receivership
Source
historical_nic
6. January 22, 1932 Other
Newspaper Excerpt
J. S. Odland, receiver of the Citizens' National Bank, of Monessen, yesterday filed suit ... against the Aetna Casualty and Surety Company ... to collect on two surety bonds totaling $35,000 issued for the faithful performance of John S. Duvall and John D. Mammas.
Source
newspapers

Newspaper Articles (2)
1. January 22, 1932 The Daily Herald Monongahela, PA
Article from The Daily Herald, January 22, 1932

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Article Text

FORCE Monessen Bank Receiver Seeks $35,000 Surety Company in Alleged Misapplications payment of bonds posted former cashier and assistant cashier of the Citizens National Monessen. whose alleged misapplications caused loss filed in Federal court here yesterday The suit was filed by land. receiver for the bank. against the Aetna Casualty and Surety Company The receiver claims he has been refused bonds were posted with the company protect the bank against any losses through John former cashier. and John Mammas. former assistcashier. The bank discovered losses through both men Dec. 10. 1930 according the bill of partieuDuvall's being and Mammas' vall's and Duvall free under bond pendhis trial Federal court. Mammas has not been apprebended by authorities. He allegedsailed for Greece last fall. Odland was appointed receiver for the bank upon the resignation Coppedge when the bank closed April 1931.

2. January 22, 1932 Pittsburgh Post-Gazette Pittsburgh, PA
Article from Pittsburgh Post-Gazette, January 22, 1932

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Article Text

BANK RECEIVER SUES SURETY Seeks $35,000 From Insurance Company Due to Losses Through Employes. J. S. Odland, receiver of the Citizens' National Bank. of Monessen, yesterday filed suit in United States district court against the Aetna Casualty and Surety Company, of Hartford, Conn., to collect on two surety bonds, totaling $35,000, issued for the faithful performance of John S. Duvall and John D. Mammas as cashier and assistant respectively. The bill of complaint avers that the bank suffered pecuniary loss because of alleged criminal acts of the two men. Duvall has been held for trial in Federal court. Mammas is said to be fugitive from justice. Duvall's bond is for and that of Mammas for $10,000.