Point Pleasant Beach National Bank - Point Pleasant Beach, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 13215
Charter Number: 13215
Start Date: November 13, 1933
Location: Point Pleasant Beach, New Jersey (40.091, -74.048)

Metadata

Model: gpt-5-mini
Short Digest: 06a1abb2

Response Measures

None

Receivership Details

Depositor recovery rate: 59.7%
Date receivership started: 1932-02-03
Date receivership terminated: 1938-08-30
Share of assets assessed as good: 13.0%
Share of assets assessed as doubtful: 71.2%
Share of assets assessed as worthless: 15.7%

Description

Article (Nov 13, 1933) states Horace N. Adams is receiver for the defunct Point Pleasant Beach National Bank. No mention of any run; bank is closed and in receivership.

Events (3)

1. June 20, 1928 Chartered

Source: historical_nic

2. February 3, 1932 Receivership

Source: historical_nic

3. November 13, 1933 Receivership

Newspaper Excerpt: Horace N. Adams, receiver for the defunct bank, threatened to have Commissioner Walter R. Darby ... take over the borough's financial affairs.
Source: newspapers

Newspaper Articles (1)

1. November 13, 1933 The Daily Record Long Branch, NJ

Article from The Daily Record, November 13, 1933

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Article Text

BANK RECEIVER LETTER IRKS BOROUGH COUNCIL POINT PLEASANT BEACH, Nov. 13.-Stating, in letter to the council, that this borough had made no effort to reduce or pay off several notes which the Point Pleasant Beach National Bank is holding, Horace N. Adams, receiver for the defunct bank, threatened to have Commissioner Walter R. Darby of the state department of municipal accounts take over the borough's financial affairs. The council became highly incensed and took no heed of Adams' request for action.