Twin City National Bank - Bluefield, VA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 7782
Charter Number: 7782
Start Date: August 20, 1932
Location: Bluefield, Virginia (37.253, -81.271)

Metadata

Model: gpt-5-mini
Short Digest: a781f175

Response Measures

Full suspension

Other: Federal receiver (representing Comptroller of the Currency) took over the bank's receivership.

Receivership Details

Depositor recovery rate: 25.4%
Date receivership started: 1932-08-22
Date receivership terminated: 1938-08-30
Share of assets assessed as good: 40.8%
Share of assets assessed as doubtful: 47.1%
Share of assets assessed as worthless: 12.1%

Description

Article (Bluefield Daily Telegraph, 1932-08-24) states heavy withdrawals over the prior weekend (a run), the bank suspended business Monday, and a federal receiver (Comptroller's representative) arrived to take over — indicating suspension leading to receivership/closure. Dates inferred from newspaper date: suspension Monday (Aug 22, 1932); receiver present by Aug 24, 1932. Cause of run not specified beyond heavy withdrawals, so classified as 'other'.

Events (5)

1. June 10, 1905 Chartered

Source: historical_nic

2. August 20, 1932 Run

Cause Details: Heavy withdrawals of deposits the previous weekend (no specific trigger given).
Newspaper Excerpt: which suspended business Monday morning following heavy withdrawals of deposits the previous week-end.
Source: newspapers

3. August 22, 1932 Receivership

Source: historical_nic

4. August 22, 1932 Suspension

Cause Details: Bank suspended business Monday morning after heavy withdrawals over the prior weekend.
Newspaper Excerpt: the Twin City National bank, which suspended business Monday morning following heavy withdrawals of deposits
Source: newspapers

5. August 24, 1932 Receivership

Newspaper Excerpt: U. S. Seal, representing the comptroller of the currency arrived in Bluefield, Va., Tuesday morning to take over the receivership of the Twin City National bank
Source: newspapers

Newspaper Articles (1)

1. August 24, 1932 Bluefield Daily Telegraph Bluefield, WV

Article from Bluefield Daily Telegraph, August 24, 1932

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Article Text

Virginia Sidelights LADS GET ROBBED Those who contemplate traveling might do well to consult two 14year-old lads of Greater Bluefield, who took in Cincinnati over this past week, taking advantage of the excursion rates over the Norfolk and Western. Before leaving Bluefield Charles Worley and Edwin Hodges, talked over the possibility of getting robbed in big city, and that gave them an idea. They distributed their money in several pockets, and sure enough while the boys were seeing the sights of Coney island some slicker touched both boys for what money they carried one pocket, including the boys' tickets, but the lads had stuffed away in another hiding place additional money. Early Sunday morning the wires from Cincinnati carried messages to the boys' parents. but after all the joke was on the pickpocket who no doubt thought that he had stolen every penny the boys carried. RECEIVER HERE U. S. Seal, representing the comptroller of the currency arrived in Bluefield, Va., Tuesday morning to take over the receivership of the Twin City National bank, which suspended business Monday morning following heavy withdrawals of deposits the previous week-end. It 16 explained that the appointment of federal receiver saves considerable expense in the handling of the bank's affairs. VISITORS HERE Dr. E. C. Weaver, of WinstonSalem, N. accompanied by Mrs. Weaver and their son and daughter have been here for several days as the guests of Mr. and Mrs. R. K. Crockett. Mrs. Weaver and Mrs. Crockett are sisters. Dr. Weaver is pastor of the "Million Dollar Methodist church" in Winston-Salem. He was for number of years president of Emory and Henry college.