Farmers & Merchants National Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 6983
Charter Number: 6983
Start Date: February 17, 1927
Location: Mount Morris, Pennsylvania (39.733, -80.068)

Metadata

Model: gpt-5-mini
Short Digest: f791713a

Response Measures

None

Description

OCR-heavy article: the Farmers & Merchants National Bank at Mt. Morris (PA) was closed and the bank examiner placed in charge for reorganization. The piece describes deposits falling off and examiner control; it indicates an expected reorganization and reopening. No explicit mention of a depositor run is given.

Events (1)

1. February 17, 1927 Suspension

Cause: Government Action
Cause Details: Bank examiner placed the bank in charge after depletion of deposits and falling off of resources; bank closed for reorganization under examiner control.
Newspaper Excerpt: MT. MORRIS BANK CLOSES ITS DOORS ... BANK EXAMINER IN CHARGE ... placed in charge of national bank ... deposits had falling off ... the bank will reopen ... reorganization
Source: newspapers

Newspaper Articles (1)

1. February 17, 1927 The Waynesburg Republican Waynesburg, PA

Article from The Waynesburg Republican, February 17, 1927

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Article Text

MT. MORRIS BANK CLOSES ITS DOORS 10 BE REORGANIZED Declared In: Dility BANK EXAMINER IN CHARGE The Farmers and Merchants NaMt. Friday and placed in charge of national bank The followed unanimous passage resolution by the board directors on of the that be and the bank will reopen in statement, Friday evening, torney said that the was perfectly and that the decided depletion said that the bank's deposits had falling off the tution had and that lack of the that be that the would this the belief that Pa., the bank -establishJohn Long is and Na ries 1903 $25,000. Several years the bank incurred their through failure for of burg and that the last and in resources more in deposits. its surplus deposits and its has and investments totalling $283,Mt. Morris town about 000 the center of rich farming community. official statement will receive all and other indebt edness, but will not receive or pay any bank has felt gradual failing far unable to realsome its and the certain feeling of unin Cafe, examiner the for of the bank wiping from the slate of all matters affecting 80 that might strong institution which should be, in the importance in the county of Mt. chief of the district will the ground will with the directors the bank in putting on its feet. receiver attendant Mr. has taken remain at Mt. Morris reorganization has it is expected the Washington will lend every aid at command. the belief not only of the directors of the exthat soon effected and the bank its doors charge of board of in the banking room in of whom and the will have full from