21607. First National Bank (Honaker, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10252
Charter Number
10252
Start Date
March 1, 1933*
Location
Honaker, Virginia (37.016, -81.974)

Metadata

Model
gpt-5-mini
Short Digest
39f39ef8

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-03-26
Date receivership terminated
1940-09-13
Share of assets assessed as good
57.8%
Share of assets assessed as doubtful
40.3%
Share of assets assessed as worthless
1.9%

Description

The bank was closed under the President's edict in March 1933 (bank holiday), was licensed and reopened in December 1933, and was placed in receivership (effectively closed) when G. H. Dickenson was appointed receiver on 1934-03-28. There is no mention of a depositor run in the articles, so I classify this as a suspension that ultimately resulted in closure/receivership.

Events (5)

1. September 5, 1912 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Closed under the President's edict of March 1933 (national banking holiday/administrative action).
Newspaper Excerpt
which was closed under the president's edict of March 1933.
Source
newspapers
3. December 20, 1933 Reopening
Newspaper Excerpt
The First National Banks of Honaker and Onancock, Va., ... are among those granted licenses. ... Twenty-four national banks were licensed and opened during the period. ... during the 10-day period ending December 20, it was announced today by the office of the Comptroller of the Currency. The First National Bank of Honaker ... are among those granted licenses. (Dec 23, 1933 article referring to licenses/openings in period ending Dec 20.)
Source
newspapers
4. March 26, 1934 Receivership
Source
historical_nic
5. March 28, 1934 Receivership
Newspaper Excerpt
G. H. Dickenson of Lebanon, Va., has been appointed receiver for the First National Bank of Honaker. He took office Tuesday. Mr. Dickenson will attend to all unsettled business of this institution which was closed under the president's ... (Mar 28, 1934).
Source
newspapers

Newspaper Articles (3)

Article from The Washington Times, December 23, 1933

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Article Text

D.C. BANK GETS OPENINGO.K. Industrial Savings Bank of Washington was one of 14 banks in the United States to receive approval for reorganization plans in the 10-day period ending December 20, it was announced today by the office of the Camptroller of the Currency. It was the only nonmember institution in the group, and its frozen deposits were estimated at $578.000, and unrestricted, $44,000. Twenty-four national banks were licensed and opened during the period. Twenty-three of these, with $28,060,000 frozen deposits of two national banks in receivership. The First National Banks of Honaker and Onancock, Va., and the First National of West Union, W. Va., are among those granted licenses. The Farmers and Merchants National Bank of Cambridge, Md., was in the group whose reorganization plans were approved. As a result of this action, there are now only 13 national banks in the country which do not have either an approved or a disapproved reorganization plan.


Article from Evening Herald Courier, March 29, 1934

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Article Text

Deaths and Funerals LIPPS Funeral services for C. E. Lipps, 66, Washington County, Tenn., deputy sheriff fatally wounded Johnson City liquor raid Monday night. will conducted from the Appalachian Funeral Home of that city at o'clock this afternoon, interment to follow in the Flourville cemetery. Mr. Lipps is survived by eight children, including Ted Lipps of Flats, sister, Miss RePiney becca Lipps Bristol, and two brothers, including Cage Lipps of Johnson City. A. B. ROGAN Tenn., March Rogan, well known business man of this section, died yesterday morning at his home after illness several months. His condition had become about 10 days ago. He died m. at the age of years. Funeral services held at today were from First Church with Rev. Dabney Carson officiating, assisted by Rev. Lynn WalHamlet, N. C., and Rev. Jere ker, Moore, Burial was in McKineny cemetery. Mr. Rogan was born Oct. 25, Rogersville, of 1856, James W. and Margaret McKinney Rogan. He was married to Miss Belle Moore, teacher at the Rogersville Institute. Mrs. Rogan died July 21, 1925. To them were born three children. Mabel McKinney, now Mrs. B. Lovette, wife of former Congressman Lovette: Robert Moore Rogan, died May 25, 1930, and Alemeth Byers Rogan Jr., who died in infancy He two Miss Jane Porter Rogan, student at College, Washington, and Miss Kyle Rogan, student the Rogersville high at school. half century Mr. For over of the leading Rogan merchants of this section. He established hardware business, which today Rogersville's oldest firm. Several years ago he retired from active work, and his son and associate took charge of the firm, which became the R. M. Rogan Co. Following the death in 1930 of this R. Mr. Rogan again son, assumed control of the business. Many successful business men here and other places received their training under him. He for years secretary of the board trustees of the College. In the months of the World War secretary of Mr. Rogan the Selective Service Board. manhood Mr. Rogan Since early was officer in the Presbyterian and for many years Church, elder in that body. as health prevented he til failing taught large class of young women at Sunday School. JAMES N. BUCHANAN Va., Mar. 29. N. Buchanan, 84, died near -James here yesterday morning at o'clock at the home his daughter, Mrs. D. Edmondson, with whom he his home for the past had made years. Besides daughter, Mrs. Mr. Buchanan D. H. survived by the following grandchildren and Mary Katherine, James Spurgeon, Frank H. and Thomas Preston, David H., Annie B. and Martha Belle Edmondson, all from MeadowW. Anderson of Mrs. Bristol, Walter and David Buchand Catherine Virginia Ananan derson. Funeral services will be conducted this afternoon at o'olock Greenfield Baptist church by the Rev. Thomas, assisted by B. DeBusk. Interment will follow in the church cemetery. MRS. ELEANOR NICKELS GATE CITY, Va. March Mrs. Eleanor Nickels, 71, widow of William N. died at the home her Nickels, at Snowflake late yesterday. She had been ill ten days following paralytic stroke. native of Scott county, Mrs. Nickels had resided in the Snowflake section throughout her lifetime. an active member of the Baptist church. Surviving J. F. Nickels, one daughter, Mrs. M. Fleenor of Nickelsville. Funeral will be held Friday at m. Mt. Hagan school building with the Rev. B. Craft charge. Interment will be in Wood cemetery. NAME BANK RECEIVER LEBANON, March 28.-G. H. Dickenson of Lebanon, Va., has been appointed for the First National Bank of Honaker. He took office Tuesday Mr. Dickenson will attend to all business this which was closed under the president's edict of March 1933. TWO FOUND DEAD BROOKLYN, Y., March 28. Hanlon, a former lleutenant marines, was head for questioning today after man woman, both with bullet wounds, found dead in Brooklyn apartment. The man, had been shot in the head, was identified as Thomas Pierson, 58, an insurance broker Manhattan. The woman identified as Marguerite Biederbick, She had been shot through the heart.


Article from Bristol Herald Courier, March 29, 1934

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Article Text

NAME BANK RECEIVER LEBANON, Va., March 28.-G. H. Dickenson of Lebanon, Va., has been appointed receiver for the First National Bank of Honaker. He took office Tuesday. Mr. Dickenson will attend to all unsettled business of this institution which was closed under the president's