Seven Valleys National Bank - Seven Valleys, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9507
Charter Number: 9507
Start Date: February 1, 1934
Location: Seven Valleys, Pennsylvania (39.856, -76.769)

Metadata

Model: gpt-5-mini
Short Digest: 4abbc1ee

Response Measures

None

Receivership Details

Depositor recovery rate: 76.5%
Date receivership started: 1934-01-23
Date receivership terminated: 1937-06-30
Share of assets assessed as good: 44.5%
Share of assets assessed as doubtful: 55.0%
Share of assets assessed as worthless: 0.5%

Description

Article (Delta Herald-Times 1934-02-01) reports the Seven Valleys National Bank had been under a conservator since March (OCR omits year) and that R. E. Neely was appointed receiver; liquidation to be started. No run is mentioned. Suspension date/year not specified in the text; receiver appointment reported in this issue.

Events (4)

1. August 14, 1909 Chartered

Source: historical_nic

2. January 23, 1934 Receivership

Source: historical_nic

3. February 1, 1934 Receivership

Newspaper Excerpt: NAME R. E. NEELY RECEIVER OF SEVEN VALLEYS BANK Robert E. Neely, Muddy Creek Forks, has been appointed receiver of the Seven Valleys National Bank ... Liquidation of this closed institution will be started at once.
Source: newspapers

4. * Suspension

Cause Details: Bank was placed under a conservator (suspension/restrictions) since March; article gives no cause for the suspension.
Newspaper Excerpt: has been in charge of conservator since March
Source: newspapers

Newspaper Articles (1)

1. February 1, 1934 Delta Herald-Times Delta, PA

Article from Delta Herald-Times, February 1, 1934

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Article Text

NAME R. E. NEELY RECEIVER OF SEVEN VALLEYS BANK Robert E. Neely, Muddy Creek Forks, has been appointed receiver of the Seven Valleys National Bank which has been in charge of conservator since March Liquidation of this closed institution will be started at once. Deposits made in the bank while it was in operation under restrictions will be paid in full, while creditors of the bank when closed on March will receive payments distributed the period the receivership.