First National Bank - Unionville, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11448
Charter Number: 11448
Start Date: September 23, 1931
Location: Unionville, New York (41.300, -74.562)

Metadata

Model: gpt-5-mini
Short Digest: 84493d77

Response Measures

None

Receivership Details

Depositor recovery rate: 79.9%
Date receivership started: 1931-10-05
Date receivership terminated: 1935-04-11
OCC cause of failure: Economic conditions
Share of assets assessed as good: 60.6%
Share of assets assessed as doubtful: 37.0%
Share of assets assessed as worthless: 2.4%

Description

Articles state the First National Bank of Unionville was suspended (since the bank was suspended September twenty-third) and placed in receivership. Receiver John S. Bryan is mentioned in 1932; by Jan 19, 1933 the receiver was reassigned to Harold Mailer. No article describes a depositor run prior to suspension. Suspension appears permanent with liquidation/dividend payments being made, so classified as suspension_closure. OCR errors corrected (Unionviele -> Unionville).

Events (5)

1. September 5, 1919 Chartered

Source: historical_nic

2. September 23, 1931 Suspension

Cause Details: Article gives no specific trigger for the suspension; only notes the bank was suspended on Sept. 23 and later liquidated by receiver.
Newspaper Excerpt: since the bank was suspended September twenty-third.
Source: newspapers

3. October 5, 1931 Receivership

Source: historical_nic

4. July 14, 1932 Receivership

Newspaper Excerpt: John S. Bryan, federal receiver for the closed First National Bank of Unionville, announced today receipt of dividend checks for twenty-five percent... since the bank was suspended September twenty-third.
Source: newspapers

5. January 19, 1933 Other

Newspaper Excerpt: Harold Mailer, receiver for the Monroe bank now has charge of the Unionville bank. The changes were effective January 19.
Source: newspapers

Newspaper Articles (3)

1. July 14, 1932 Middletown Times Herald Middletown, NY

Article from Middletown Times Herald, July 14, 1932

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Article Text

SECOND PAYMENT READY FOR UNIONVIELE BANK UNIONVILLE John S. Bryan, federal receiver for the closed First National Bank of Unionville, announced today receipt of dividend checks for twenty-five percent. for payment to creditors tomorrow. It will be the second twenty- percent. since the bank was suspended September twenty-third. Further payments are expected The payment to be made tomorrow originally was set for June but was deferred because the condition of the bond market made it unwise to liquidate sufficient securities to make the payment, Mr. Bryan said. Creditors applying for payment tomorrew must present receiver's certificates at the bank, he said.

2. January 20, 1933 Middletown Times Herald Middletown, NY

Article from Middletown Times Herald, January 20, 1933

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Article Text

STATE DAIRY CONTROL SEEN AS SOLUTION Senator Pitcher Indicates Move To Establish Board to Fix Prices ALBANY Creation of a milk control board by the legislature to regulate trade practices and fix prices was seen today as solution of the problems of New York state's milk industry. Indications that such a plan was under consideration came from Senator Perley A. Pitcher. chairman of the joint legislative committee to investigate the milk industry. at a meeting of the New York State Dairymen and Breeders Association last night. "All other plans have either failed of accomplishment or cannot be ac- complished in time to save the producing end of the industry." Senator Pitcher said. "The minds of those who have given much thought to a possible solution of the problem are now directed to some form of a milk control board to be set up by a legislative act which will give to those charged with the duty the power to regulate trade practices and, to a limited extent at least. fix prices which dealers must pay the Droducer." Pitcher said the control board possibly would be empowered also to fix the price paid by consumers. He declared. however. that such plan would encounter great difficulties. Pitcher presented to the meeting a suggestion forwarded by Paul Smith, Newark Valley. calling for creation of such a board to operate jointly for New York and New Jer. sey, the principal markets of the New York milk shed. BANK RECEIVER LEAVES receiver for the First National Bank... of Unionville has been assigned to a bank in Westchester county. Harold Mailer. receiver for the Monroe bank now has charge of the Unionville bank. The changes were effective January 19.

3. July 31, 1934 The Washington Times Washington, DC

Article from The Washington Times, July 31, 1934

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Article Text

BANK RECEIVERS INEXPERIENCED (Continued from Page 1) Prior to that he was associated for many years with the GlobeWernicke Company, a furniture company of Ohio. E. L. Norris, receiver for the Woodridge-Langdon Savings and Commercial Bank, was former vice president and cashier of that institution from 1921 to 1933. For seven years prior to that connection he was treasurer of the Continental Trust Company, and for two years he was assistant cashier of the Kensington Bank, in Kensington, Md. Former Vice President For 20 years, vice president of the City Bank and Trust Company of Syracuse, N. Y., John F. Moran, receiver of the Park Savings Bank, liquidated the Massena Bank and Trust Company, of Massena, N. Y., for the New York State banking department. He also had two more years of banking experience with another bank in Syracuse, N. Y. Carter B. Keane, receiver for the United States Savings Bank, was a practising attorney. From 1913 to 1921 he was director of the Postal Savings system. John S. Bryan, receiver for the North Capital Savings Bank, was a receiver for the First National Bank of Unionville, N. Y.