16094. Second National Bank (Brownsville, PA)

View Charter #2673 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2673
Charter Number
2673
Start Date
October 31, 1933
Location
Brownsville, Pennsylvania (40.020, -79.890)

Metadata

Model
gpt-5-mini
Short Digest
5c406c00977128c1

Response Measures

None

Receivership Details

Depositor recovery rate
21.0%
Date receivership started
1931-11-30
Date receivership terminated
1939-02-20
Share of assets assessed as good
4.8%
Share of assets assessed as doubtful
28.6%
Share of assets assessed as worthless
66.6%

Description

Articles state the Second National Bank of Brownsville was defunct and a receiver was appointed effective Oct 31, 1933 (Comptroller appointment). No article describes a depositor run; later (Dec 7, 1934) the receiver is suing to collect government assessments. This indicates the bank was closed and placed in receivership (permanent closure).

Events (5)
1. May 1, 1882 Chartered
Source
historical_nic
2. September 30, 1930 Voluntary Liquidation
Source
historical_nic
3. November 30, 1931 Receivership
Source
historical_nic
4. October 31, 1933 Receivership
Newspaper Excerpt
J. Edgar Hustead ... will succeed Alpha B. Gray as receiver of the defunct Monongahela National and Second National banks at Brownsville ... appointment ... becomes effective at the close of business October 31.
Source
newspapers
5. December 7, 1934 Other
Newspaper Excerpt
Institution of suits to collect Government assessments levied against stockholders of the Second National Bank of Brownsville was started by Attorney Harry A. Cottom, counsel for Receiver Donald W. Edwards.
Source
newspapers

Newspaper Articles (2)
1. October 30, 1933 The Daily Herald Monongahela, PA
Article from The Daily Herald, October 30, 1933

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Article Text

BROWNSVILLE BANK RECEIVER NAMED J. Edgar Hustead. Uniontown. prominent coal operator of Fayette county. will succeed Alpha B. Gray as receiver of the defunct Monongahela National and Second National banks at Brownsville this Wednesday. His appointment was ordered by Comptroller of the Currency J. F. T. Connor at Washiington, D. C., and becomes effective at the close of business October 31. Gray tendered his resignation to the comptroller earliier this month.

2. December 7, 1934 The Daily Courier Connellsville, PA
Article from The Daily Courier, December 7, 1934

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Article Text

BANK RECEIVER SUES TO COLLECT ASSESSMENTS UNIONTOWN, Dec. 77.-Institution of euits to collect Government 88sesements levied against stockholders of the Second National Bank of Brownsville was started by Attorney Harry A. Cottom. counsel for Receivor Donald W. Edwards. In all the Government has lovied $125,000 representing the amount of capital stock in the bank but to date 11 number of the stockholders have paid their assessments. The action WAS directed at Naomi D. Reisinger of Uniontown on two shares of stock with a capital value of $200. Other actions will follow, Mr. Cottom indicated.