Farmers & Merchants National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 4892
Charter Number: 4892
Start Date: October 29, 1907
Location: Mount Pleasant, Pennsylvania (40.151, -79.543)

Metadata

Model: gpt-5-mini
Short Digest: d1621a69

Response Measures

None

Receivership Details

Depositor recovery rate: 80.7%
Date receivership started: 1907-10-29
Date receivership terminated: 1910-10-31
OCC cause of failure: Run
Share of assets assessed as good: 45.4%
Share of assets assessed as doubtful: 54.5%
Share of assets assessed as worthless: 0.1%

Description

Article reports the bank was placed in receivership on 1907-10-29 and a final dividend declared 1910-10-17. No mention of a run prior to suspension in the provided text, so classified as suspension leading to permanent closure/receivership.

Events (4)

1. March 27, 1893 Chartered

Source: historical_nic

2. October 29, 1907 Receivership

Source: historical_nic

3. October 29, 1907 Receivership

Newspaper Excerpt: The bank was placed in receivership on October 29, 1907.
Source: newspapers

4. October 17, 1910 Other

Newspaper Excerpt: The Controller of the Currency has declared the fifth and final dividend, 10.7 per cent, to the creditors of the Farmers and Merchants' National Bank, at Mount Pleasant, Penn.
Source: newspapers

Newspaper Articles (1)

1. October 18, 1910 New-York Tribune New York, NY

Article from New-York Tribune, October 18, 1910

Click image to open full size in new tab

Article Text

FINAL DIVIDEND ON FAILED BANK. Washington, Oct. 17.-The Controller of the Currency has declared the fifth and final dividend, 10.7 per cent, to the creditors of the Farmers and Merchants' National Bank, at Mount Pleasant, Penn. This makes a total payment of $428,635, or 80.7 per cent, on the claims, amounting to $531,031. The bank was placed in receivership on October 29, 1907.