First National Bank - Minotola, NJ

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 10440
Charter Number: 10440
Start Date: February 27, 1933
Location: Minotola, New Jersey (39.519, -74.948)

Metadata

Model: gpt-5-mini
Short Digest: cd1a510e

Response Measures

None

Description

Article (Courier-Post, 1933-03-01) reports the First National Bank of Minotola invoked a new state law to limit withdrawals (halt deposits made before the 27th). This is a suspension of payments under legal authority; no explicit run or receivership is mentioned and no closure is reported. I infer this was a temporary suspension under the emergency withdrawal-limitation law and therefore classify as suspension_reopening (most likely temporary). Date of the action is given relative to the 27th; I take that as 1933-02-27 based on the publication date.

Events (2)

1. September 4, 1913 Chartered

Source: historical_nic

2. February 27, 1933 Suspension

Cause: Government Action
Cause Details: Bank invoked new state law permitting limitation of withdrawals; board ordered that deposits made before the 27th be halted until further notice.
Newspaper Excerpt: They are the First National Bank of Newfield, the First National Bank of Minotola ... withdrawals of deposits made before 27 would be halted until further notice.
Source: newspapers

Newspaper Articles (1)

1. March 1, 1933 Courier-Post Camden, NJ

Article from Courier-Post, March 1, 1933

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Article Text

SMALL TOWN BANKS WITHDRAWALS Tuckahoe, Newfield and Minotola Act Under New State Law Three South Jersey banks yesterday took advantage of laws permitting limitation of withdrawals of deposits. They are the First National Bank of Newfield, the First National Bank of Minotola and the Tuckahoe Na tional Bank. In all three the boards of directors that withdrawals of deposits made before 27 would be halted until further notice. Deposits made after that date unrestricted as withdrawals, other than the usual notices. At the same time. 30 Pennsylvania banks yesterday acted under law similar to New Jersey's, passed by the legislature Monday night. Most of them were in upstate cities. The law under which the South Jersey banks acted permits the commissioner banking and to extend for 90 days longer paytime to (Continued on Page Two)