Exchange National Bank - Marietta, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10707
Charter Number: 10707
Start Date: March 1, 1933*
Location: Marietta, Pennsylvania (40.057, -76.552)

Metadata

Model: gpt-5-mini
Short Digest: ead9cffc

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 was closed during the March 1933 national bank holiday declared by President Roosevelt, reopened March 24 under a conservator, and was placed in receivership by order from Washington on 1933-09-15. Articles do not describe a depositor run; final outcome was receivership.

Events (7)

1. February 17, 1915 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed during the national banking holiday declared by President Roosevelt in March 1933
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 ... Bucher, conservator of the bank since March 24, was named conservator and operations were custodial for patrons
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. October 3, 1934 Restored To Solvency

Source: historical_nic

7. 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

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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.