Westside National Bank - West Paterson, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12848
Charter Number: 12848
Start Date: May 18, 1934
Location: West Paterson, New Jersey (40.894, -74.199)

Metadata

Model: gpt-5-mini
Short Digest: 608c6108110b5ebf

Response Measures

None

Receivership Details

Depositor recovery rate: 65.0%
Date receivership started: 1933-09-22
Date receivership terminated: 1939-09-29
Share of assets assessed as good: 15.1%
Share of assets assessed as doubtful: 72.8%
Share of assets assessed as worthless: 12.1%

Description

The article (Jersey Journal, 1934-05-22) lists Westside National of W. Paterson, $100,000 under a Receivers list covering 1932 through May 18. No run or reopening is described. This indicates the bank was placed in receivership/closed. OCR in the article is noisy but the bank entry is readable.

Events (3)

1. November 13, 1925 Chartered

Source: historical_nic

2. September 22, 1933 Receivership

Source: historical_nic

3. May 18, 1934 Receivership

Newspaper Excerpt: West Paterson, Westside National of W. Paterson, $100,000.
Source: newspapers

Newspaper Articles (1)

1. May 22, 1934 The Jersey Journal Jersey City, NJ

Article from The Jersey Journal, May 22, 1934

Click image to open full size in new tab

Article Text

LOANS TOTAL $788,000,000 Banks of N. J. Allowed Total of More Than Sixteen Million. Jesse H. chairman the nance Corporation disclosed today that $788,000,000 of money has been closed banks and companies relief of and general liquidation connection frozen These authorizations, Mr announced, were made tutions embraced The period involved from 1932, through May 18, Receivers banks in New York State authorizations amounting list of to about to in New Jersey follows Receivers People's $25,000 East Orange, First National $425,000. Collingwood, Collingwood $84,000. Long Branch, Citizens' Long Beach, Mount Ephraim, Mount Ephriam Newark, Nat. Bank and Trust Newark, $1,770,000. Newark, National Bank and of Newark, Newark, Nat. Bank and Newark, $123,000 $425,000. Ocean Grove, Ocean Grove $145,000. Red Bank Broad Bank., $455,000. Sea City First Nat Isle City, National Sea $30,000 Union City National Bank of Hudson, Union City National Bank Hudson, $1,000,000 Union City, Union City National, $70.000. Union City, Union City $85,000. Westmont $25,000. Westmont, Westmont $61,000. West Paterson, Westside National of W. Paterson, $100,000. Whitehouse First National Whitehouse Stn., First Bank and Trust Woodbridge, First and Trust Woodbridge Woodlynne, Woodlynne Nation $12,000. Woodlynne, Woodlynne Conservators Carlstadt, Carlstadt Collingswood, Collingswood $65,000. East Rutherford East People's wood, $262,220. Lyndhurst, First Nat Ocean City, Ocean $40,000. Ocean City, Ocean City Nat, $40,000. Orange, Orange Nat. First Nat of antville, 561,000. Secaucus, First Nat West York, West New York, West West New York, Total $7,937,220 Supplementary List Matawan, Matawan 000. City, First City, Mortgage Loan Companies for Paterson, Broadway of State Title & Mtge anty Co., $84,000