Pleasant Unity National Bank - Pleasant Unity, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6581
Charter Number: 6581
Start Date: June 30, 1934
Location: Pleasant Unity, Pennsylvania (40.240, -79.451)

Metadata

Model: gpt-5-mini
Short Digest: 7a5fb677

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-10-27
Date receivership terminated: 1940-03-29
Share of assets assessed as good: 39.8%
Share of assets assessed as doubtful: 54.6%
Share of assets assessed as worthless: 5.6%

Description

Article (Latrobe Bulletin, 1934-08-03) describes the bank in receivership with a receiver liquidating assets and paying dividends to depositors. No run is mentioned. The bank suspended operations prior to the receiver's report (statement for quarter ending 1934-06-30). Classified as suspension followed by closure/receivership (suspension_closure).

Events (4)

1. January 13, 1903 Chartered

Source: historical_nic

2. October 27, 1933 Receivership

Source: historical_nic

3. June 30, 1934 Suspension

Cause: Government Action
Cause Details: Bank had been placed in receivership; statement references assets at date of suspension and receiver handling liquidation.
Newspaper Excerpt: The receiver's last published statement was for the quarter ending June 30. It showed total assets (book value) at the date of suspension, of $339,389.97.
Source: newspapers

4. August 3, 1934 Receivership

Newspaper Excerpt: Bank Receiver Speeds Liquidation... the receiver, Thos. McTighe, already has repaid nearly half of the loan... leaving less than $80,000 still owing to the depositors, and evidencing the steady progress made by the receiver in liquidating the assets.
Source: newspapers

Newspaper Articles (1)

1. August 3, 1934 Latrobe Bulletin Latrobe, PA

Article from Latrobe Bulletin, August 3, 1934

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Article Text

Bank Receiver Speeds Liquidation Of the 447 checks made to the order of the depositors of the Pleasant Unity National Bank. in payment of per cent dividend. all but four or five had been claimed up until yesterday. The dividend. declared in made possible in part, through loan from the R. C., and the receiver, Thos. McTighe, already has repaid nearly half of the loan. The dividend totaled leaving less than $80,000 still owing to the depositors, and evidencing the steady progress made by the receiver in liquidating the assets. The receiver's last published statement was for the quarter ending June 30. It showed total assets (book value) at the date of suspension, of $339,389.97. with acquired assets and stock assessment bringing the total to $374,855.97. From these assets the receiver has collected total of including $15,517.73 collected from stock sessments. Offsets charged off amounted $736.67, leaving $258,986.13 still to be liquidated. The secured liabilities totaled $37.412.52; and the unsecured liabilities were $229,275.94. with $3.83 subse. (Continued on page