19627. First National Bank (Youngsville, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8165
Charter Number
8165
Start Date
June 30, 1934
Location
Youngsville, Pennsylvania (41.853, -79.319)

Metadata

Model
gpt-5-mini
Short Digest
8ce8998d

Response Measures

None

Receivership Details

Depositor recovery rate
69.5%
Date receivership started
1934-02-01
Share of assets assessed as good
1.4%
Share of assets assessed as doubtful
98.6%

Description

Articles (Aug 1934) state the First National Bank of Youngsville was in receivership; no mention of a depositor run. Receiver F. William Lensing resigned Aug 17-18, 1934. Statement of condition dated June 30, 1934 is cited. Classified as suspension leading to closure/receivership.

Events (5)

1. April 10, 1906 Chartered
Source
historical_nic
2. November 17, 1931 Voluntary Liquidation
Source
historical_nic
3. February 1, 1934 Receivership
Source
historical_nic
4. June 30, 1934 Other
Newspaper Excerpt
At June 30, 1934, the statement of condition of Warren receivership indicates that dividends aggregating 59 per cent ... Lensing was appointed receiver of the Brockway and Youngsville receiverships for the purpose of collecting stock assessments.
Source
newspapers
5. August 17, 1934 Receivership
Newspaper Excerpt
F. William Lensing, national bank receiver in charge of ... the First National bank of Youngsville, who has been in his charge of these banks since inception of the several receiverships, has resigned as receiver.
Source
newspapers

Newspaper Articles (2)

Article from The Kane Republican, August 17, 1934

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Article Text

LENSING RESIGNS AS BANK RECEIVER F. William Lensing, national bank receiver in charge of the Citizens Na tional bank. Warren: Wilcox National bank, Wileox: First National bank, of Brockway, First National bank in Brockway and the First National bank of Youngsville, who has been Its charge of these banks since inception of the several receiverships, has re signed as receiver. At June 30, 1934, the statement of condition of Warren receivership indi cates that dividends aggregating 59 per cent, or $511,250.22 was paid to depositors and cash in the amount of $48,019.51 is available for future dividends. The remaining uncollected as sets aggregate total of $607,376.27. At June 30, 1934, the statement of condition of the Wilcox receivership indicates that dividends aggregating 83 per cent or $193,331 46, were paid to depositors and cash in the amount of $12,963.37 is available for future dividends. The remaining uncollected assets aggregate total of $29,043.47 Lensing was appointed receiver of the Brockway and Youngsville receiverships for the purpose of collecting stock assessments. Lensing was connected with the in solvent division of the office of the comptroller of the currency for eleven years, and during that time liquidated banks in Texas, Arkansas and Illinois, in addition to the Pennsylvania receiverships.


Article from Pittsburgh Post-Gazette, August 18, 1934

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Article Text

Resigns as Receiver WARREN, Aug. William Lensing, national bank receiver, charge of the Citizens National Bank, Warren; Wilcox National Bank, Wilcox; First National Bank of Brockway, First National Bank in Brockway and First National Bank of Youngsville, who been charge of these banks since the inception of the several receiverships, has resigned as receiver.