Second National Bank - Brownsville, PA

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: ae1d4fc5

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

Newspapers report the bank as defunct and the Comptroller appointed a receiver effective close of business Oct 31, 1933. No run is mentioned. A receivership was active through at least Dec 1934 (receiver suing stockholders).

Events (6)

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 was ordered by Comptroller of the Currency J. F. T. Connor ... becomes effective at the close of business October 31. (The Daily Herald, 1933-10-30).
Source: newspapers

5. October 31, 1933 Suspension

Cause: Government Action
Cause Details: Comptroller of the Currency ordered appointment of a receiver for the defunct Second National Bank; bank closed/declared defunct effective Oct 31, 1933.
Newspaper Excerpt: appointment ordered by Comptroller of the Currency ... becomes effective at the close of business October 31.
Source: newspapers

6. December 7, 1934 Receivership

Newspaper Excerpt: Institution of suits to collect Government assessments levied against stockholders of the Second National Bank of Brownsville was started by ... counsel for Receiver Donald W. Edwards. (The Daily Courier, 1934-12-07)
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.