National Mohawk Valley Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1130
Charter Number: 1130
Start Date: October 1, 1931
Location: Mohawk, New York (43.011, -75.004)

Metadata

Model: gpt-5-mini
Short Digest: de9e50a5

Response Measures

None

Receivership Details

Depositor recovery rate: 67.3%
Date receivership started: 1931-10-12
Date receivership terminated: 1940-02-09
OCC cause of failure: Economic conditions
Share of assets assessed as good: 30.1%
Share of assets assessed as doubtful: 68.5%
Share of assets assessed as worthless: 1.4%

Description

Article (The Journal, 1931-10-01) reports the National Mohawk Valley Bank failed to open its doors today. No mention of a depositor run, reopening, or receiver in the provided text. Because the paper reports a closure of business (failed to open) and no reopening is documented, I classify this as a suspension that led to closure. Limited information prevents confirmation of receivership; classification chosen as most consistent with permanent closure.

Events (3)

1. May 12, 1865 Chartered

Source: historical_nic

2. October 1, 1931 Suspension

Cause Details: Article gives no reason for failure to open; no mention of rumors, runs, or government action.
Newspaper Excerpt: Mohawk, N. Oct. National Mohawk Valley bank of this failed to open its doors today.
Source: newspapers

3. October 12, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. October 1, 1931 The Journal Meriden, CT

Article from The Journal, October 1, 1931

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Article Text

BANK FAILS TO OPEN. Mohawk, N. Oct. National Mohawk Valley bank of this failed to open its doors today. The was one the oldest in the valley. issued two weeks ago the bank had deposits $900,000 and loans amounting $590,000. capitalized $100,000 and had $20,000 surplus.