First National Bank - Pocahontas, VA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 7847
Charter Number: 7847
Start Date: October 28, 1926
Location: Pocahontas, Virginia (37.305, -81.340)

Metadata

Model: gpt-5-mini
Short Digest: af2a5821

Response Measures

None

Description

Article (Kansas City Journal, 1926-10-28) reports First National Bank of Pocahontas closed and placed in hands of federal examiner/receiver after cashier admitted taking deposits for ~14 years; shortage ~ $100,000 exceeding capital and surplus. No run reported; bank placed in receivership and effectively closed.

Events (4)

1. July 26, 1905 Chartered

Source: historical_nic

2. October 28, 1926 Receivership

Newspaper Excerpt: The bank's shortage, amounting to about $100,000, will exceed the capital and surplus, the national examiner said, adding the bank be placed in hands of receiver at once.
Source: newspapers

3. October 28, 1926 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Cashier admitted he had been taking money from deposits for about fourteen years; shortage of about $100,000 exceeding capital and surplus.
Newspaper Excerpt: The First National bank of Pocahontas... closed its doors today and was placed the hands of R. Wood, federal bank examiner...
Source: newspapers

4. March 10, 1927 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. October 28, 1926 Kansas City Journal Kansas City, MO

Article from Kansas City Journal, October 28, 1926

Click image to open full size in new tab

Article Text

BANKER'S PECULATIONS 14 YEARS CLOSES BANK BLUEFIELD. VA., Oct. P.) The First National bank of Pocahontas. Pocahontas, Va., the state line from here, closed its doors today and was placed the hands of R. Wood. federal bank examiner James E. McNeer. cashier. admitted ne had been taking money from deposits for about fourteen years, according to Wood. The bank's shortage. amounting to about $100,000, will exceed the capitar and surplus, the national examine said, adding the bank be placeo in hands of receiver at once. McNeer. resides here, exonerated all bank employes in his statement to Wood. He was arrested, ar- last night raigned before United States comreleased under bond pending further hearing after the affairs the bank have been investigated thoroughly