15219. First National Bank (Mamaroneck, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5411
Charter Number
5411
Start Date
January 1, 1933*
Location
Mamaroneck, New York (40.949, -73.733)

Metadata

Model
gpt-5-mini
Short Digest
5f24951d

Response Measures

None

Receivership Details

Depositor recovery rate
2.0%
Date receivership started
1934-02-02
Share of assets assessed as good
0.6%
Share of assets assessed as doubtful
61.2%
Share of assets assessed as worthless
38.3%

Description

The bank is repeatedly described as 'closed' and is being liquidated by Receiver H. E. Meeker in 1934. Depositors' meetings in Sept 1934 reference the institution closing about 20 months earlier (≈Jan 1933). There is no article describing a depositor run prior to suspension; events indicate a suspension/closure with a receiver and liquidation.

Events (8)

1. June 8, 1900 Chartered
Source
historical_nic
2. March 18, 1932 Voluntary Liquidation
Source
historical_nic
3. January 1, 1933* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed and placed in receivership for liquidation; articles refer to a defunct/closed institution with frozen funds and liquidation by a receiver, implying insolvency or bank-specific failure.
Newspaper Excerpt
defunct institution closed 20 months ago ... funds frozen the bank held
Source
newspapers
4. February 2, 1934 Receivership
Source
historical_nic
5. April 18, 1934 Receivership
Newspaper Excerpt
Receiver H. E. Meeker ... liquidating ... closed First Bank here collected ... quarterly statement of March just issued by the receiver and references to Hiram E. Meeker as Receiver in August 1934 summonses and proceedings.
Source
newspapers
6. August 22, 1934 Other
Newspaper Excerpt
Mamaroneck Bank Receiver Pleads For Exchange ... motion by the receiver the First National Bank of Mamaroneck for authority to trade the bank building ... The Reconstruction Finance Corporation holds $200,000 mortgage against the bank building.
Source
newspapers
7. September 17, 1934 Other
Newspaper Excerpt
Depositors Combine To Seek Information ... formed 'Depositors' Association of Mamaroneck' ... objective obtaining of 'all available information on the condition the local bank.'
Source
newspapers
8. October 26, 1934 Other
Newspaper Excerpt
Receiver H. E. Meeker ... named an advisory council of nine representative residents ... will cooperate ... to speed liquidation of the bank, which has been closed nearly two years and still shows no prospect of paying dividend.
Source
newspapers

Newspaper Articles (11)

Article from The Standard-Star, April 18, 1934

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Article Text

BANK RECEIVER Received During Last Quarter by Liquidator of First National, Mamaroneck MAMARONECK April During the last three Receiver H. E. Meeker who is liquidating $4 of the closed First Bank here collected that amount Expenses of for the same period 000 or proximately eight per cent of the These figures shown the quarterly statement. of March just issued by the receiver Other of the report are that only the stock assessments have been collected to date. and that during the past three months the amount collected from that source was This fund is the only money collected to date first dividend to be paid depositors Receiver Meeker declined to make any prediction as when the first dividend will declared. but indicated there little prospect of one for months to come One quarter of the total assets $1,014,378. have been liquidated to date. the statement says. Secured liabilities against which the bulk this amount has already been applied total LIGHT PLANT TO ENLARGE By the United Press mupower plant. of the smallest of kind in Ohio planning $25,000 improvement and extension program.


Article from The Key West Citizen, August 8, 1934

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Article Text

FEDERAL RESERVE BANK OF NEW YORK and HIRAM E. MEEKER, as Receiver of FIRST NATIONAL BANK IN MAMARONECK, ...


Article from The Key West Citizen, August 15, 1934

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Article Text

SUMMONS SUPREME COURT OF THE STATE OF NEW YORK, WESTCHESTER COUNTY. FEDERAL RESERVE BANK OF NEW YORK and HIRAM E. MEEKER, as Receiver of FIRST NATIONAL BANK IN MAMARONECK, Plaintiffs,


Article from The Key West Citizen, August 22, 1934

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Article Text

FEDERAL RESERVE BANK OF NEW YORK and HIRAM E. MEEKER, as Receiver of FIRST NATIONAL BANK IN MAMARONECK, Plaintiffs,


Article from The Herald Statesman, August 22, 1934

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Article Text

Mamaroneck Bank Receiver Pleads For Exchange The Associated Press NEW YORK, Aug. and business men of Mamaroneck, Henry H. Hornincluding edge, attended court hearing yesmotion by the of the First National Bank of Mamaroneck for trade the bank building for real estate Rye owned by Howard Ardrey, former New York banker. The hearing was before Federal Judge George Murray. The Reconstruction Finance Corporation holds $200,000 mortgage against the bank building. The bank property was described elephant" Humphrey former Supreme Court Lynch, Justice and counsel for the reHe urged that the court ceiver. approve the proposed exchange The bank building, property. said, was too large and poorly cated. Fred H. Rubin, lawyer and depositor in the First National Bank, which closed, opposed the proposed exchange, calling it absurdity.'


Article from Mount Vernon Argus, August 22, 1934

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Article Text

BUILDING TERMED WHITE ELEPHANT Attorney for Bank Receiver Asks Court Permission To Trade Property NEW YORK, Aug. 22 Residents business men of Mamaroneck including Henry Hornedge. attended court yesterday on motion by receiver the First National Bank of Mamaroneck for authority to trade the bank building for real estate in Rye and mortgage owned by Howard Arformer New York banker The hearing was before Federal Judge George Murray The Re construction Finance Corporation holds mortgage against the building The bank property described "white elepnant Humphrey Lynch, former Court and for the receiver He urged that the court approve the exchange property. The back building. he poorly cated. Fred H. Rubin. and depositor National Bank. which the proposed exchange, calling it absurdity.


Article from The Key West Citizen, September 5, 1934

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Article Text

# SUMMONS SUPREME COURT OF THE STATE OF NEW YORK, WESTCHESTER COUNTY. FEDERAL RESERVE BANK OF NEW YORK and HIRAM E. MEEKER, as Receiver of FIRST NATIONAL BANK IN MAMARONECK, Plaintiffs,


Article from The Herald Statesman, September 17, 1934

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Article Text

Depositors Combine To Seek Information Special Herald MAMARONECK, Sept. 17. A move that may in an investigation into the activities of the officers and of the First National Bank in Mamaroneck before the defunct institution closed 20 months ago is under way today as the result of mass meeting of about 400 depositors. After an address by Dudley A Wilson, chairman of the depositors committee of the closed Pelham National Bank, of which nine officers and directors have been indicted, the meeting formed itself into the 'Depositors' Association of Mamaroneck' which has for its objective the obtaining of "all available information on the condition the local bank. Hurlbert McAndrew, local attorney, who played leading part in the move to prevent Bank Receiver H. E. Meeker from selling the $460,000 bank building to Howard Ardrey of Rye in exchange for property appraised at $100,000 that Ardrey owns in Rye, is chair man of the appointed by the to act as its agent in all bank matters.


Article from The Standard-Star, September 17, 1934

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Article Text

DEPOSITORS MEET, 400 Unite to Investigate Defunct Mamaroneck Institution Sept. 17 move may culminate investigation into the officers and directors the the First National Bank Mamaroneck the defunct stitution closed months the result of under meeting 400 depositors mass with funds frozen the bank held After by Dudley Wilson, of the depositor's committee the closed Pelham National Bank, where nine officers and directors have been indicted. the meeting formed itself into the Association maroneck' which has for its objective the obtaining availinformation the condition able the local Hurlbert local torney who played leading part the move present Bank Receiver Meeker from selling $460,000 bank building to Howard Ardrey of Rye in exchange for property appraised $100,000 that Ardrey owns Rye, chairman of the committee which has been appointed by the association act its agent in all bank


Article from The Standard-Star, October 26, 1934

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Article Text

SPED ON DEFUNCT BANK Mamaroneck Receiver Appoints Advisory Council of 9 Residents to Aid Him MAMARONECK, Oct. ceiver H. E. Meeker of the closed First National Bank in Mamaroneck announced today that he has named an advisory council of nine representative residents. None of those named had any connection with the financial insti tution before it closed outside the fact they were substantial depositors. The group will cooperate with Mr. Meeker to speed liquidation of the bank. which has been closed nearly two years and still shows no prospect of paying dividend. REACH A BUYER Call New Rochelle 7200 and place an ad in the Classified Section of THE


Article from The Standard-Star, October 29, 1934

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Article Text

EMPTY BANK BUILDING WILL BE OFFERED TO COUNTY TRUST GROUP MAMARONECK Oct. Under the leadership of Mayor Henry T. Hornidge movement was on foot here today to have the County Trust Company, which has filed an application to open branch in this village, establish it in the idle banking quarters in the First National Bank building. Receiver H. E. Meeker has already offered to the County Trust the opportunity of renting quarters in the building of the closed bank.