Citizens National Bank - New Lexington, OH

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 6505
Charter Number: 6505
Start Date: November 11, 1931
Location: New Lexington, Ohio (39.717, -82.207)

Metadata

Model: gpt-5-mini
Short Digest: 8a321de0

Response Measures

Full suspension

Receivership Details

Date receivership started: 1931-11-30
Date receivership terminated: 1932-02-15

Description

Newspaper reports (Nov 11, 1931) state the bank closed by directors due to heavy withdrawals of deposits and frozen assets. A receivership was appointed Dec 2, 1931. Sequence: heavy withdrawals (run) → suspension/closing by directors → receivership (permanent closure).

Events (7)

1. November 24, 1902 Chartered

Source: historical_nic

2. November 11, 1931 Run

Cause: Bank Specific Adverse Info
Cause Details: Heavy withdrawals driven by the bank's frozen assets and resulting loss of depositor confidence.
Measures: Directors posted notice of closing after meeting; bank was closed by directors.
Newspaper Excerpt: The Citizens' National Bank here closed today at the order of its directors, due to heavy withdrawals of deposits frozen assets.
Source: newspapers

3. November 11, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Directors ordered closure because of heavy withdrawals and frozen assets; bank suspended operations.
Newspaper Excerpt: The directors posted notice of closing last night after meeting.
Source: newspapers

4. November 30, 1931 Receivership

Source: historical_nic

5. December 2, 1931 Receivership

Newspaper Excerpt: C. A. Jones ... has been appointed receiver for the Citizens National Bank here which closed two weeks ago.
Source: newspapers

6. February 15, 1932 Restored To Solvency

Source: historical_nic

7. April 5, 1932 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (3)

1. November 11, 1931 The Cincinnati Enquirer Cincinnati, OH

Article from The Cincinnati Enquirer, November 11, 1931

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Article Text

OHIO BANK SUSPENDS. New Lexington, Ohio, November Citizens National Bank here today the of its to heavy with of deposits and frozen The notice closing last night after meeting The bank had capital of $75,000 and $1,500,000 O. Cullen President George Rodgers, former President and Cashier, resigned November 1,

2. November 11, 1931 The Cincinnati Enquirer Cincinnati, OH

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Article Text

OHIO BANK SUSPENDS. New Lexington, Ohio, November The Citizens' National Bank here closed today at the order of its directors, due to heavy withdrawals of deposits frozen assets. The directors posted notice of closing last night after meeting. The bank had capital of $75,000 and resources approximately $1,500,000. J. O. Cullen President. George L. Rodgers, former Vice President and Cashier, resigned November 1,

3. December 2, 1931 The Daily Advocate Greenville, OH

Article from The Daily Advocate, December 2, 1931

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Article Text

Former Secretary To Governor Named As Bank Receiver New Lexington, O., Dec. 2.-C.A Jones, former secretary to Governor Myers Y. Cooper, has been appointed receiver for the Citizens National Bank here which closed two weeks ago. Jones arrived here Tuesday.