Peoples Bank - Buckhannon, WV

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 5, 1929
Location: Buckhannon, West Virginia (38.994, -80.232)

Metadata

Model: gpt-5-mini
Short Digest: 512a6ebd

Response Measures

None

Description

Article reports the bank was closed after state examiners found a $172,000 shortage and the cashier and assistant were arrested for embezzlement. No run is mentioned; closure appears to be permanent/administrative following discovery of malfeasance.

Events (1)

1. February 5, 1929 Suspension

Cause: Bank Specific Adverse Info
Cause Details: State examiners found a $172,000 shortage; cashier A. V. Rush and assistant E. B. Ross arrested for embezzlement.
Newspaper Excerpt: The Peoples Bank of West Virginia here was closed shortly before noon today when an examination of accounts by State bank examiners showed shortage of $172,000. ... are under arrest charged with embezziement.
Source: newspapers

Newspaper Articles (1)

1. February 5, 1929 Brooklyn Eagle Brooklyn, NY

Article from Brooklyn Eagle, February 5, 1929

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Article Text

$172,000 Shortage Closes Bank Buckhannon, W. Va., Feb 5 (/P)-The Peoples Bank of West Virginia here was closed shortly before noon today when an examination of accounts by State bank examiners showed shortage of $172,000. A. V.Rush, 37, cashier, and E. B. Ross, 33, his assistant. are under arrest charged with embezziement.