Peoples National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9996
Charter Number: 9996
Start Date: September 10, 1931
Location: Delmont, Pennsylvania (40.413, -79.570)

Metadata

Model: gpt-5-mini
Short Digest: db0af3f9

Response Measures

None

Receivership Details

Depositor recovery rate: 65.9%
Date receivership started: 1931-06-18
Date receivership terminated: 1938-09-30
Share of assets assessed as good: 40.9%
Share of assets assessed as doubtful: 55.5%
Share of assets assessed as worthless: 3.6%

Description

Article (Latrobe Bulletin, 1931-09-10) states the bank closed its doors and a receiver (Frank D. Neale) is named. No run is mentioned in the excerpt; closure with receiver implies permanent failure. Cause of suspension not specified in the article, so classified as 'other'.

Events (4)

1. April 21, 1911 Chartered

Source: historical_nic

2. June 18, 1931 Receivership

Source: historical_nic

3. September 10, 1931 Receivership

Newspaper Excerpt: Saul asked that the court issue an order directing Frank D. Neale, bank receiver, to list the claim as preferred and either make adjustment or pay it before other creditors are paid.
Source: newspapers

4. September 10, 1931 Suspension

Cause Details: Article does not specify reason for closure; only notes the bank closed its doors and a receiver was appointed.
Newspaper Excerpt: tax money on deposit in the Peoples National Bank of Delmont, Pa., when it closed its doors.
Source: newspapers

Newspaper Articles (1)

1. September 10, 1931 Latrobe Bulletin Latrobe, PA

Article from Latrobe Bulletin, September 10, 1931

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Article Text

Tax Collector Asks Adjustment Pittsburgh, Sept. 10.-(U.P)- D. L. Saul, tax collector for Salem township, Westmoreland county, filed suit in Federal court today for adjustment or recovery of $17,124 in tax money on deposit in the Peoples National Bank of Delmont, Pa., when it closed its doors. Saul asked that the court issue an order directing Frank D. Neale, bank receiver, to list the claim as preferred and either make adjustment or pay it before other creditors are paid.