16075. Bolivar National Bank (Bolivar, PA)

View Charter #6135 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
6135
Charter Number
6135
Start Date
October 1, 1903
Location
Bolivar, Pennsylvania (40.397, -79.152)

Metadata

Model
gpt-5-mini
Short Digest
77d5f061fc369872

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1903-10-01
Date receivership terminated
1906-10-09
OCC cause of failure
Fraud
Share of assets assessed as good
55.0%
Share of assets assessed as doubtful
45.0%

Description

Contemporary newspapers report the Bolivar National Bank suspended payment and was placed in the hands of a receiver on 1903-10-01, and was permitted by the Comptroller of the Currency to resume business on 1906-10-16. No run is mentioned; the suspension involved a receivership and subsequent reopening.

Events (7)
1. February 24, 1902 Chartered
Source
historical_nic
2. October 1, 1903 Receivership
Source
historical_nic
3. October 1, 1903 Receivership
Newspaper Excerpt
was placed in the hands of a receiver on October 1, 1903
Source
newspapers
4. October 1, 1903 Suspension
Cause
Government Action
Cause Details
Suspended payment and was placed in the hands of a receiver (government/examiner action)
Newspaper Excerpt
which suspended payment and was placed in the hands of a receiver on October 1, 1903
Source
newspapers
5. October 15, 1906 Restored To Solvency
Source
historical_nic
6. October 16, 1906 Reopening
Newspaper Excerpt
was yesterday permitted by the Comptroller of the Currency to re-open its doors for business as an active national banking association
Source
newspapers
7. February 1, 1939 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)
1. October 16, 1906 The Washington Herald Washington, DC
Article from The Washington Herald, October 16, 1906

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Article Text

PERMITS BANKS TO OPEN. Institutions in Bolivar, Pa., and Seda, Kan., Resume Business. The Bolivar National Bank, of Bolivar, Pa., which suspended payment and was placed in the hands of a receiver on October 1, 1903, was yesterday permitted by the Comptroller of the Currency to re= open its doors for business as an active national banking association. The People's National Bank of Seda, Kan., which was declared insolvent and placed in the hands. of a receiver on December 24., 1906, has been restored to solvency and also permitted to resume business to-day as an active national banking association.

2. October 16, 1906 The Bennington Evening Banner Bennington, VT
Article from The Bennington Evening Banner, October 16, 1906

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Article Text

Bolivar National Bank Reopens. WASHINGTON, Oct. 16.-The Bolivar National bank at Bolivar, Pa., which suspended payment and was placed in the hands of a receiver, has been permitted to resume business as an active national banking association.

3. October 20, 1906 Martinsburg Herald Martinsburg, WV
Article from Martinsburg Herald, October 20, 1906

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Article Text

Bolivar National Bank Reopens. WASHINGTON, Oct. 16.-The Bolivar National bank at Bolivar, Pa., which suspended payment and was placed in the hands of a receiver. has been permitted to resume business as an active national banking association.