Peoples National Bank - Brookneal, VA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11960
Charter Number: 11960
Start Date: June 4, 1931
Location: Brookneal, Virginia (37.050, -78.944)

Metadata

Model: gpt-5-mini
Short Digest: 0aeb778d

Response Measures

None

Receivership Details

Depositor recovery rate: 52.5%
Date receivership started: 1930-10-31
Date receivership terminated: 1938-03-21
Share of assets assessed as good: 48.5%
Share of assets assessed as doubtful: 39.6%
Share of assets assessed as worthless: 11.9%

Description

OCR corrected 'Peoples NationBank' to 'Peoples National Bank'. Article (Roanoke Times, 1931-06-05) states a bank receiver obtained judgments, indicating the bank was in receivership/closed. Judgments carry interest from 1929-12-31, suggesting the bank had been insolvent or under receivership since about the end of 1929. No mention of a depositor run in the provided text.

Events (3)

1. April 20, 1921 Chartered

Source: historical_nic

2. October 31, 1930 Receivership

Source: historical_nic

3. June 4, 1931 Receivership

Newspaper Excerpt: BANK RECEIVER OBTAINS JUDGMENTS Lynchburg, June 4 (Special) Rucker, the Peoples NationBank, Brookneal, has recovered the following judgments in the federal district here: Talley, former president, $1,000; A. Lunsford, administrator of the estate of R. E. Adams, $1,000, and F. Ginther, $1,000. All of the judgments carry interest from December 31, 1929.
Source: newspapers

Newspaper Articles (1)

1. June 5, 1931 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, June 5, 1931

Click image to open full size in new tab

Article Text

REALTY TRANSFERS BANK RECEIVER OBTAINS JUDGMENTS Lynchburg, June 4 (Special) Rucker, the Peoples NationBank, Brookneal, has recovered the following judgments in the federal district here: Talley. former president, $1,000; A. Lunsford. administrator of the estate of R. E. Adams, $1,000. and F. Ginther, $1,000. All of the judgments carry interest from December 31, 1929. ROANOKE CLUB TO LEAD MARTINSVILLE SERVICE Martinsville, June (Special) Billy Sunday club, of Roanoke will be in charge of the services at the Starling avenue tabernacle, in Southside Martinsville Sunday in connection with The following realty transfers were the revival in progress there. Three recorded in the office of the clerk of services will be held during the day.