National Bank - Argyle, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 13521
Charter Number: 13521
Start Date: August 14, 1930
Location: Argyle, New York (43.238, -73.492)

Metadata

Model: gpt-5-mini
Short Digest: 8a060303

Response Measures

None

Description

Article (Mar 20, 1931) reports the First National Bank of Argyle was closed on August 14 (presumably 1930) and a receiver was appointed; the receiver is relinquishing duties as a new National Bank of Argyle supplants the old institution. No run is described; closure involved a receiver (government action). The president's suicide is mentioned as preceding the appointment of the receiver.

Events (4)

1. August 14, 1930 Receivership

Newspaper Excerpt: John E: Farrell Was Named After President of Institution Took Own Life ... Receiver John E. Farrell and staff will relinquish their duties ... at the First National Bank of Argyle, which was closed last August 14.
Source: newspapers

2. August 14, 1930 Suspension

Cause: Government Action
Cause Details: Bank was closed and a receiver was named after the president's suicide; closure led to appointment of receiver.
Newspaper Excerpt: which was closed last August 14.
Source: newspapers

3. January 19, 1931 Chartered

Source: historical_nic

4. March 20, 1931 Other

Newspaper Excerpt: Mr. Owen La president of the newly organized bank, known as the National Bank of Argyle and which supplants the old institution.
Source: newspapers

Newspaper Articles (1)

1. March 20, 1931 The Post-Star Glens Falls, NY

Article from The Post-Star, March 20, 1931

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Article Text

Argyle Bank Receiver to Relinquish Duties RELEASE SOUGHT BY OFFICIALS TO LOWER EXPENSES John E: Farrell Was Named After President of Institution Took Own Life COMPTROLLER CONSENTS Chester K. Owen, Present Head of New Organization, Made Request Upon consent of the Comptroller of Currency. Receiver John E. Farrell and staff will relinquish their duties within a day or two at the First National Bank of Argyle. which was closed last August 14. Announcement to this effect was made last night by Attorney Edward R. Walte of Hudson Falls Release of the receiver was sanctioned by the Comptroller of Currency at a conference With Chester K. Owen and Mr. Waite in Washington. D. C., recently. Mr. Owen La president of the newly organized bank. known as the National Bank of Argyle and which supplants the old institution. The receivers' charge to the bank was $450 a month and the release was sought to lower the expense of the bank. Mr. Waite said. It will be remembered that Mr. Farrell was named by the national bank officials as receiver following the suicide of the president last August.