16053. Bangor Trust Company (Bangor, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
October 2, 1931
Location
Bangor, Pennsylvania (40.866, -75.207)

Metadata

Model
gpt-5-mini
Short Digest
3964ce1e985d3e40

Response Measures

None

Description

Articles (April 1932) report Everett Kent charged with defrauding the Bangor Trust Company by withdrawals made a few days before the bank closed last October 2. No mention of a depositor run; the bank is described as closed/insolvent, implying permanent failure. Year of closure inferred as 1931 (article says last October and the pieces are dated April 1932). No explicit receiver assignment mentioned in these clippings.

Events (1)
1. October 2, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed due to insolvency tied to alleged improper withdrawals/defalcation by a director/attorney (Everett Kent) of $11,200 shortly before closure; criminal fraud charge filed by state examiner thereafter.
Newspaper Excerpt
the bank closed last October 2 knowing it was insolvent
Source
newspapers

Newspaper Articles (2)
1. April 8, 1932 The Record American Mahanoy City, PA
Article from The Record American, April 8, 1932

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Article Text

Former Congressman Held On Fraud Charges Easton, April Everett Kent held $10,000 bail today on charges of defrauding the Bangor Trust ComBangor, Pa., of $11,200. pany Alderman Chidsey, before whom Kent was arraigned, was structed the state banking "scrutinize the partment bond furnished, Chidsey said. Kent, Democratic candidate contested the election of Congress, William Coyle, Republican, the general election, Congressman for distrirt. went the appelant courts, where Coyle clared the winner. Kent charged with drawing himself, and for the estate he sents, four checks sented him about October the day before the Bangor Trust closed He solicitor pany the bank. Kent blamed polititoday for the filed against him. He said he did not draw from the bank that money was charged, withdrawn his legal clients checks signed by the clients themselves.

2. April 9, 1932 Standard-Speaker Hazleton, PA
Article from Standard-Speaker, April 9, 1932

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Article Text

KENT CHARGES POLITICANS BANGOR, Pa., Apr. 8. (P)-Everett Kent, former Congressman who seeks the Democratic nomination again this month, today blamed group of Republican politicians" for fraud charge filed against him by a state bank examiner. Kent was attorney and director of the Bangor Trust Company. He is alleged to have defrauded the bank of $11,200 by withdrawing that amount with four checks few days before the bank closed last October 2 knowing it was insolvent. "The funds which are alleged to have been withdrawn illegally by myself," Kent said in a statement to the Associated Press today, "were not drawn by me at all. They were withdrawn by my clients on checks signed by the clients themselves. "They were funds belonging to the trustees of estates. The funds were withdrawn by the estates from the bank and not one cent reached hands. my will place the responsibility for my prosecution upon group of Republican politicians. They are mereendeavoring by unfair methods to eliminate me the leading candidate from the primary election." Kent charged that sponsors of his prosecution waited until the grand jury adjourned last Tuesday before filing the charge so that it still would be pending when the primary is held April 26. Kent said the checks by which he is alleged to have withdrawn the $11,200 were drawn by Martin Helso as trustee of the Philip Labar estate, George Wentzell as trustee of the Henry Wentzell estate, Walter Miller as trustee of the Eliza Miller estate and Ella Dietz as trustee of the Emory Dietz estate. Kent served two terms in the House and contesting the election by which William R. Coyle of Bethlehem defeated him for third. His opponents for the Democratic nomination this month are Francis E. Walter of Easton and Dr. J. H. Shull of Stroudsburg.