Virginia National Bank - Petersburg, VA

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 7709
Charter Number: 7709
Start Date: July 17, 1929
Location: Petersburg, Virginia (37.205, -77.392)

Metadata

Model: gpt-5-mini
Short Digest: 11a077ca

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Contemporary reports (July 17–18, 1929) describe a small run driven by rumors; directors issued a statement asserting the bank was sound and a Richmond armored Federal Reserve truck delivered/withdrew large amounts of currency. No suspension, closure, or receivership is reported. OCR errors in articles corrected (e.g., thoroughly sound and solvent condition; date references indicate July 17–18, 1929).

Events (2)

1. April 25, 1905 Chartered

Source: historical_nic

2. July 17, 1929 Run

Cause: Rumor Or Misinformation
Cause Details: A small run by depositors prompted by unspecified rumors; directors explicitly denied any justification for the rumors.
Measures: Directors issued a public statement declaring the bank sound; an armored Federal Reserve truck brought a large amount of currency and bank officials accepted deposits/maintained payments.
Newspaper Excerpt: The statement came the of what small run ... a number of depositors withdrew their money. The bank is thoroughly sound and solvent...positively no justification for any rumor to the contrary. An armored Richmond Federal Reserve Bank truck arrived and unloaded a large amount of money.
Source: newspapers

Newspaper Articles (2)

1. July 18, 1929 Bristol Herald Courier Bristol, TN

Article from Bristol Herald Courier, July 18, 1929

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Article Text

PETERSBURG BANK REPORTED SOUND Va. July (AP) issued today by the statement Virginia National directors the declared that the Bank this city thoroughly sound institution condition. The stateand solvent result of what ment came be termed slight run might the yesterday today number drew their money. statement said: "The bank sound solvent thoroughly there positively no justification for and the part of any rumor the contrary absolutely without Shortly issued this afternoon, an armored Richmond Federal truck Reserve Bank arrived the bank and unloaded large amount the exact sum not being money, made known.

2. July 18, 1929 Richmond Times-Dispatch Richmond, VA

Article from Richmond Times-Dispatch, July 18, 1929

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Article Text

Directors Say Petersburg Bank Solvent Declare Virginia National At Cockade City In Entirely Sound Condition [Special to The Times-Dispatch. PETERSBURG, July 17-Directors the Virginia National Bank of this today issued statement declaring that the institution in thoroughly sound and solvent condiThe statement came the of what small run bank and today which number of deposi withdrew their The statement issued said: The bank thoroughly solvent and there posttively no justification for any uneas' ness the part any and rumor the contrary lutely without The statement was the following directors Keeler, bach. Mark Paul Roper. Wallace M. Samuel Burwell, H. Poole Wills Shortly after the statement was early truck the Richmond serve arrived the bank and unloaded large amount money much money was taken was made Five ficials Richmond bank the truck More companied was deposited yesterday than was paid out. of the bank continued The Virginia National aBnk the largest oldest tersburg Its officers are among prominent and citizens Petersburg Wright prestdent, and B. Kinsey cashier