National Bank - Fairmont, WV

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9462
Charter Number: 9462
Start Date: August 15, 1915
Location: Fairmont, West Virginia (39.485, -80.143)

Metadata

Model: gpt-5-mini
Short Digest: c826f6ed

Response Measures

None

Receivership Details

Depositor recovery rate: 65.0%
Date receivership started: 1933-11-13
Share of assets assessed as good: 43.7%
Share of assets assessed as doubtful: 48.7%
Share of assets assessed as worthless: 7.5%

Description

Article (dated 1915-08-15) reports the First National Bank of Fairmont was closed and its assets and liabilities assumed by the National Bank of Fairmont (a merger/assumption). There is mention of a two-day run, but that run affected the National Bank of Fairmont after the First National was closed. Therefore this episode for the First National Bank is a suspension/closure (assets taken over).

Events (3)

1. June 28, 1909 Chartered

Source: historical_nic

2. August 15, 1915 Suspension

Cause: Voluntary Liquidation
Cause Details: First National Bank was closed and merged/taken over by the National Bank of Fairmont; assets assumed by the acquiring bank.
Newspaper Excerpt: The National Bank of Fairmont, has sustained a two day run which followed a merger with the First National Bank of Fairmont. ... will take over all the assets of and assume all the liabilities of the closed bank.
Source: newspapers

3. November 13, 1933 Receivership

Source: historical_nic

Newspaper Articles (1)

1. August 15, 1915 The Sunday Telegram Clarksburg, WV

Article from The Sunday Telegram, August 15, 1915

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Article Text

The National Bank of Fairmont, has sustained a two day run which followed a merger with the First National Bank of Fairmont. The National Bank of Fairmont according to the announcement made when the other institution was closed will take over all the assets of and assume all the liabilities of the closed bank.