Bellport National Bank - Bellport, NY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 12473
Charter Number: 12473
Start Date: March 1, 1933*
Location: Bellport, New York (40.757, -72.939)

Metadata

Model: gpt-5-mini
Short Digest: 772e3f07

Response Measures

None

Description

The bank had been closed since March 1933 (banking holiday) with a conservator in charge; article (Aug 18, 1933) describes a reorganization plan and imminent resumption of business. No run is described in the text — this is a suspension followed by reopening after reorganization (waiver of 30% of deposits, stock surrendered).

Events (3)

1. December 14, 1923 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed since March 1933 during the banking holiday; conservator (president Willard B. Macintosh) in charge and Comptroller involvement noted.
Newspaper Excerpt: Bellport National Bank, closed since March,
Source: newspapers

3. August 25, 1933 Reopening

Newspaper Excerpt: Plans for reorganizing and reopening of the Bellport National Bank, closed since March, have been completed and it may resume business on an unrestricted basis the latter part of next week early the following week, to Willard B. Macintosh, president of the bank and conservator of its assets since the banking holiday.
Source: newspapers

Newspaper Articles (1)

1. August 18, 1933 Times Union Brooklyn, NY

Article from Times Union, August 18, 1933

Click image to open full size in new tab

Article Text

BELLPORT BANK DUE TO REOPEN Reorganization Plan Believed Certain of Approval by Stockholders and Depositors. Bellport, Aug. 18.-Plans for reorganizing and reopening of the Bellport National Bank, closed since March, have been completed and it may resume business on an unrestricted basis the latter part of next week early the following week, to Willard B. Macintosh, president of the bank and conservator of its assets since the banking holiday. The reorganization plan, which meeting with the complete satisfaction enthusiasm the stockholders depositors, according to Mr. Macintosh, calls for the waiver of 30 per cent. of deposits of the date the bank suspended busines and surrender by the stockholders of their shares. The 30 per cent. of deposits to be trusteed in the care or Dr. William Neuss John Ewing Brookhaven Tooker Bellport. Certificate participation will be issued depositors this part their funds as the assets are liquidated they will participate the will their bank and this stock will be same stockholders, to depositors and others with the getting rights the stock. This will share and in this way it is to raise the necessary for $25,000 and of both will any The plan reorganization has of the Comptroller of the Currency. The notices were sent out this week and the depositors and stock. holders until Aug. them, more than half availed the tunity, Macintosh this morning, and he had no doubt the plan adopted. Holders of per cent. of the deposits and cent. the stock sign for the reorganization to beoperative The notices said that approximately value, assets of the bank could not be cluded the assets of the bank. There slow, doubtful uncollectible notes, $109,000 in depreciation bonds and in depreciation bankand equipment. capital $25,000, surplus and undivided profits of $5,625 will be applied toward elimination these assets the balance will absorbed the waiver of per deposits the slate and almost the status of The bank has about 900 depositors stockholders, all expressed confidence in other ficers Ruland. of chogue, haven. and John Ewing. and Leslie B. Raymond, cashier.