Citizens National Bank (Pocomoke City, MD)

Episode Information

Episode UID
1410601643
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
141060 national
Charter Number
14106
Start Date
November 23, 1936
Location
Pocomoke City, Maryland (38.076, -75.568)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
18525feb19dfbfd7

Response Measures

None

Description

Notice describes trustees selling pledged policies for the benefit of unsecured depositors, indicating bank in liquidation/receivership.

Events (2)

1. April 14, 1934 Chartered
Source
historical_nic
2. November 23, 1936 Receivership
Newspaper Excerpt
These policies were deposited with and pledged to The Citizens National Bank of Pocomoke City ... The Citizens National Bank of Pocomoke City and William E. Hall, R. Harlan Robertson and Grady E. Powell, Trustees for the benefit of the waiving unsecured depositors and other unsecured creditors of said bank.
Source
newspapers

Newspaper Articles (2)

Article from Worcester Democrat and the Ledger-Enterprise, November 13, 1936

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Article Text

Monday, November 23, 1936 at the hour of 9 o'clock in the morning In front of the Parker House, Pocomoke City, Md. Policy No. 9991, issued by the Continental Life Insurance Co., on the life of Stanley P. Lambden, same being dated October 17, 1914, and matured October 17, 1934. This policy is what is commonly called a "Twentyyear Endowment," the face amount of the same being $3000.00. Policy No. 3,788,209, issued by New York Life Insurance Co., on the life of Stanley P. Lambden, same being dated May 28, 1906, and paid up May 28, 1926. This policy is what is commonly called a "Twenty-payment Life," the face amount being $2000.00. These policies were deposited with and pledged to The Citizens National Bank of Pocomoke City and assigned to said bank as collateral as in the above bill obligatory provided. Further information will be given on inquiry to L. Paul Ewell, Counsel, Pocomoke City, Md. Terms of sale CASH. The Citizens National Bank of Pocomoke City and William E. Hall, R. Harlan Robertson and Grady E. Powell, Trustees for the benefit of the waiving unsecured depositors and other unsecured creditors of said bank.


Article from Worcester Democrat and the Ledger-Enterprise, November 20, 1936

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Article Text

Monday, November 23, 1936 at the hour of 9 o'clock in the morning In front of the Parker House, Pocomoke City, Md. Policy No. 9991, issued by the Continental Life Insurance Co., on the life of Stanley P. Lambden, same being dated October 17, 1914, and matured October 17, 1934. This policy is what is commonly called a "Twentyyear Endowment," the face amount of the same being $3000.00. Policy No. 3,788,209, issued by New York Life Insurance Co., on the life of Stanley P. Lambden, same being dated May 28, 1906, and paid up May 28, 1926. This policy is what is commonly called a "Twenty-payment Life," the face amount being $2000.00. These policies were deposited with and pledged to The Citizens National Bank of Pocomoke City and assigned to said bank as collateral as in the above bill obligatory provided. Further information will be given on inquiry to L. Paul Ewell, Counsel, Pocomoke City, Md. Terms of sale CASH. The Citizens National Bank of Pocomoke City and William E. Hall, R. Harlan Robertson and Grady E. Powell, Trustees for the benefit of the waiving unsecured depositors and other unsecured creditors of said bank.