First National Bank - Waynesburg, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 305
Charter Number: 305
Start Date: January 28, 1874
Location: Waynesburg, Pennsylvania (39.896, -80.179)

Metadata

Model: gpt-5-mini
Short Digest: b215ad6c

Response Measures

None

Receivership Details

Depositor recovery rate: 60.0%
Date receivership started: 1878-05-15
Date receivership terminated: 1885-09-07
OCC cause of failure: Losses
Share of assets assessed as doubtful: 27.3%
Share of assets assessed as worthless: 72.7%

Description

Article (Clearfield Republican, 1874-01-28) reports the First National Bank of Waynesburg has suspended due to 'bad management' and calls it a failure. No run is mentioned; suspension appears to be a failure/closure. No explicit receiver appointment stated in the text.

Events (3)

1. March 5, 1864 Chartered

Source: historical_nic

2. January 28, 1874 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Reported 'bad management' leading to suspension/failure.
Newspaper Excerpt: The First National Bank of Waynes. burg, Greene county, has suspended. Cause, bad management.
Source: newspapers

3. May 15, 1878 Receivership

Source: historical_nic

Newspaper Articles (1)

1. January 28, 1874 Clearfield Republican Clearfield, PA

Article from Clearfield Republican, January 28, 1874

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Article Text

The First National Bank of Waynes. burg, Greene county, has suspended. Cause, bad management. The officers give out the old story, "nobody will lose anything by the failure." O,no! Who ever heard of people losing anything by the failure of a bank ?