16369. Exchange National Bank (Marietta, PA)

View Charter #10707 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10707
Charter Number
10707
Start Date
March 6, 1933
Location
Marietta, Pennsylvania (40.057, -76.552)

Metadata

Model
gpt-5-mini
Short Digest
0e092ce05f76cc2c

Response Measures

None

Receivership Details

Date receivership started
1933-09-13
Date receivership terminated
1934-10-03
Share of assets assessed as good
55.3%
Share of assets assessed as doubtful
42.4%
Share of assets assessed as worthless
2.3%

Description

Bank closed with the March 1933 national bank holiday and reopened March 24 as a largely custodial institution under a conservator; later (article dated 1933-09-15) the bank was placed in the hands of a receiver by order from Washington. No article describes a depositor run prior to suspension; sequence is suspension (government action) then eventual receivership/closure.

Events (8)
1. February 17, 1915 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Closed during the national bank holiday declared by President Roosevelt in March 1933; bank did not open until March 24 and operated as a custodial institution under a conservator.
Newspaper Excerpt
The Exchange bank closed on March when National bank holiday declared by President Roosevelt
Source
newspapers
3. March 24, 1933 Reopening
Newspaper Excerpt
When it reopened doors became largely custodial institution its patrons ... C. Bucher, conservator of the bank since March 24, was named receiver (later).
Source
newspapers
4. September 13, 1933 Receivership
Source
historical_nic
5. September 15, 1933 Receivership
Newspaper Excerpt
The Exchange National Bank, Marietta, was today placed in the hands of receiver by an order issued in Washington. C. Bucher, conservator of the bank since March 24, was named receiver.
Source
newspapers
6. September 27, 1933 Other
Newspaper Excerpt
Depositors' Committee Formed Mass Meeting. Bucher, receiver for the Exchange National Bank, Marietta, will appeal to National bank officials Washington and ask permission give definite information on the condition of county institution to the Committee.
Source
newspapers
7. October 3, 1934 Restored To Solvency
Source
historical_nic
8. November 28, 1934 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)
1. September 15, 1933 Lancaster New Era Lancaster, PA
Article from Lancaster New Era, September 15, 1933

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Article Text

NAME MARIETTA BANK RECEIVER Officials Awaiting Orders From Washington. The Exchange National Bank, Marietta, was today placed in the hands of receiver by an order issued in Washington. C. Bucher, conservator of the bank since March 24, was named receiver. The institution refused to accept any new deposits today. The Exchange bank closed March bank holiday declared by President Roosevelt and did not open again til March 24. When it reopened doors became largely custodial institution its patrons. depositor could any of his made March 24 he did not owe the bank any money. The same still Persons made deposits since March can obtain that money providing they did not the bank money. The bank, however, has right to money of depositor that owes Bank officials and their legal represaid they do understand the order issued in Washington today and until they have clear explanation will not make statement.

2. September 15, 1933 Lancaster New Era Lancaster, PA
Article from Lancaster New Era, September 15, 1933

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Article Text

NAME MARIETTA ANK RECEIVER Officials Awaiting Orders From Washington. The Exchange National Bank, Marietta, was today placed in the hands of receiver by an order issued in Washington. Bucher, conservator of the bank since March 24, was named receiver. The fused to accept any new deposits today. The Exchange bank closed on March when National bank holiday declared by President Roosevelt and not again til reopened its largely custodial institution for its patrons. depositor could withdraw any all of his made after March providing he did not owe the bank any money. The same condition still exists. Persons made deposits since March obtain viding did owe the bank any money. The has right to retain the money of depositor if that individual owes institution. Bank officials and their legal represaid they do not underthe in Washington today explanation will not make statement.

3. September 27, 1933 Lancaster New Era Lancaster, PA
Article from Lancaster New Era, September 27, 1933

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Article Text

SEEK INFORMATION ON MARIETTA BANK Depositors' Committee Formed Mass Meeting. Bucher, receiver for the Exchange National Bank, Marietta, will appeal to National bank officials Washington and ask permission give definite information on the condition of county institution to the Committee. The Depositors Committee named Monday evening with Mr. Bucher late yesterday and received "apon the financial condition of the bank The oeiver explained that he could not turn books of the institution over the committee that he would ask Washington the right to give more definite The consists of: Levi Killian, George W Wolf, Charles O'Connor, Henry S. Rich, Sr., and Benjamin Kihlman.