Bayard National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11664
Charter Number: 11664
Start Date: August 24, 1933
Location: Bayard, West Virginia (39.273, -79.364)

Metadata

Model: gpt-5-mini
Short Digest: 977229b3

Response Measures

None

Receivership Details

Depositor recovery rate: 88.7%
Date receivership started: 1932-04-28
Date receivership terminated: 1938-07-29
Share of assets assessed as good: 11.7%
Share of assets assessed as doubtful: 87.0%
Share of assets assessed as worthless: 1.3%

Description

All articles indicate the bank was in receivership (J. H. Bane and later John H. Hoffman) and paying dividends to depositors over several years. There is no mention of a depositor run or reopenings; the bank remained closed and under receivership while dividends were distributed. I date the recorded receivership/suspension to the earliest article referencing the receiver (1933-08-24).

Events (7)

1. March 31, 1920 Chartered

Source: historical_nic

2. April 28, 1932 Receivership

Source: historical_nic

3. August 24, 1933 Receivership

Newspaper Excerpt: according to J. H. Bane, receiver. The checks have been made up and sent to Washington for completion and when returned will be ready for distribution.
Source: newspapers

4. August 24, 1933 Suspension

Cause: Government Action
Cause Details: Bank placed in receivership; payments handled by receiver J. H. Bane.
Newspaper Excerpt: The payment of a second dividend of 15 percent will be distributed among the depositors of the Bayard National Bank, Bayard, W. Va., according to J. H. Bane, receiver.
Source: newspapers

5. May 9, 1935 Other

Newspaper Excerpt: Bayard National Bank Pays Its Fifth Dividend Mr. J. H. Bane, receiver of the Bayard National Bank of Bayard, W. Va., announces that he now has in his possession checks covering the payment of a fifth dividend of 5% to all the depositors of the bank. ... The bank is open only two days of each week.
Source: newspapers

6. June 10, 1937 Other

Newspaper Excerpt: Mr. J. H. Bane, receiver of the ... Bayard National Bank of Bayard, W. Va., for the past several years, has resigned and has accepted a position with the Federal Deposit Insurance Corporation.
Source: newspapers

7. November 25, 1937 Other

Newspaper Excerpt: Checks in payment of the Sixth Dividend of 12% to the creditors of the Bayard Bank Trust are in the Oakland office and are ready for delivery, John H. Hoffman, receiver for the Bayard National Bank, of Bayard, W. Va., announced.
Source: newspapers

Newspaper Articles (5)

1. August 24, 1933 The Republican Oakland, MD

Article from The Republican, August 24, 1933

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Article Text

Miss Charlotte Wilcox, relief administrator, will return to Oakland tomorrow from Baltimore where she has been on a business trip since Tuesday. C. W. Winters, of Preston county, his farm adjoining the Maryland boundary on Route 37, was a business caller at The Republican office Monday morning. Mr. and Mrs. Robert White and daughter, of Uniontown, are visiting Mrs. White's mother, Mrs. C. F. Dawson, who is improving following an attack of bronchial penumonia. Mrs. Lester Yutzy and daughter Dolores will accompany Mrs. Leo Crane and sons to the Crane home in Grafton, W. Va., today for a visit of a few days. Mrs. Crane has been a guest of Mr. and Mrs. Yutzy at their home in Crellin. Rev. Roy J. Meyer, of Johnstown, Pa., former pastor of Grace Lutheran church, Fairmont, W. Va., will preach in St. Mark's church, Oakland, Sunday morning, at 10:45 o'clock. Special musical numbers will be rendered by Professor Awery, vocal instructor in the Pittsburgh Conservatory of Music. The payment of a second dividend of 15 percent will be distributed among the depositors of the Bayard National Bank, Bayard, W. Va., according to J. H. Bane, receiver. The checks have been made up and sent to Washington for completion and when returned will be ready for distribution. The payment will bring much relief to the depositors. Last night at he high school auditorium the Misses Bolgiano presented their annual entertainment of dancing under the auspices of the Civic Club. The pupils of the Bolgiano sisters had parts in the program and a number of musical numbers were also presented. Notwithstanding the storm conditions prevailing the affair was fairly well patronized, especially by residents of Mountain Lake Park. Miss Kathryn Parr Mattingly, McHenry, daughter of Mrs. Margaret Mattingly and the late William Mattingly, was married Tuesday morning in St. Peter's Catholic church to Mr. Harlod W. Carroll, of Jerome, Pa., the Rev. Fr. W. J. McVeigh, pastor of the local church, performing the ceremony in the presence of a number of friends of the couple. The bride is a graduate of Accident high school, class of 1932, and has been in training for a nurse.

2. September 7, 1933 Evening Herald Courier Bristol, TN

Article from Evening Herald Courier, September 7, 1933

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Article Text

Public Works Projects Allotments Announced WASHINGTON, Sept. Allotment of about $7,500,000 for public works projects in 10 States was announced yesterday after Secretary Ickes obtained approval from President Roosevelt of long list others to be made public later. Exerting pressure speed the furfds into job-providing tion work officials the bulk the projects announced yesterday could started within 10 days and the rest within month. They clude: West Bayard the Bayard National Bank (receiver) Charleston, Peoples' Exchange Bank of Charleston, Fairmont, the National Bank of Fairmont, $670,000; Petersburg, Grant County Bank, $17,000: Spencer, Roane County Bank, $56,000; subscriptions for stock, West Virginia National Bank, Fairmont, $200,000.

3. May 9, 1935 The Republican Oakland, MD

Article from The Republican, May 9, 1935

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Article Text

Bayard National Bank Pays Its Fifth Dividend Mr. J. H. Bane, receiver of the Bayard National Bank of Bayard, W. Va., announces that he now has in his possession checks covering the payment of a fifth dividend of 5% to all the depositors of the bank. This brings the total payment of this receivership to date amounting to 58%. All of those holding receiver's certificates are requested to present them at the bank on Monday or Tuesday of any week. The bank is open only two days of each week.

4. June 10, 1937 The Republican Oakland, MD

Article from The Republican, June 10, 1937

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Article Text

J. H. BANE RESIGNS AS RECEIVER OF BANKS HERE Has Accepted Position With Federal Deposit Insurance Corporation Mr. J. H. Bane, receiver of the Garrett National Bank of Oakland; the First National Bank of Kitzmiller, and the Bayard National Bank of Bayard, W. Va., for the past several years, has resigned and has accepted a position with the Federal Deposit Insurance Corporation, Washington, D. C. Mr. Bane's resignation becomes effective within the next few days. Mr. Bane's headquarters will be in Mahanoy City, Pa., to which place he will move his family from Morgantown, West Va., where they have resided during the past year. The depositors of the Garrett National Bank, Oakland, have received 95 per cent of their claims in dividends and it is contemplated that the remaining five per cent will be distributed in the very near future, Mr. Bane said yesterday. Depositors of the Kitzmiller Bank have received 65 per cent of their claims and an additional dividend is now in course of preparation and will be paid in a very short time. Depositors of the Bayard National Bank have received 58 per cent of their claims and the payment of additional dividends is contemplated. Mr. Bane has also been serving as receiver of the Kingwood National Bank, Kingwood, W. Va., and the First National Bank of Newburg, W. Va., and will also give up the receivership of these two banks. In 1931, Mr. Bane began his work as receiver in Preston county and took over the work in Garrett county in 1933. During his administration of the affairs of these closed institutions Mr. Bane has been particularly careful not to work hardships on those who were willing to pay their obligations but were unable to do SO on account of the stress of circumstances, with the result that he leaves Oakland with the good will and best wishes of those with whom he has come in contact in social and business matters.

5. November 25, 1937 The Republican Oakland, MD

Article from The Republican, November 25, 1937

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Article Text

Creditors Of Bayard Bank To Receive Checks for 6th Dividend Checks in payment of the Sixth Dividend of 12% to the creditors of the Bayard Bank Trust are in the Oakland office and are ready for delivery, John H. Hoffman, receiver for the Bayard National Bank, of Bayard, W. Va., announced. This distribution will bring the total dividend percentage to 70%. In order to expedite the delivery of the checks, Assistant H. L. Williams will be in the Bayard Banking house on November 29 and 30, and will issue the checks to all depositors who present the Receiver's Certificate of proof of claim. Delivery will be made from the Oakland office at any time with the exception of the days afore mentioned.