23071. Kingwood National Bank (Kingwood, WV)

View Charter #6332 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6332
Charter Number
6332
Start Date
August 14, 1902
Location
Kingwood, West Virginia (39.472, -79.683)

Metadata

Model
gpt-5-mini
Short Digest
b458e81d

Response Measures

None

Receivership Details

Depositor recovery rate
44.4%
Date receivership started
1931-06-23
Date receivership terminated
1939-09-02
OCC cause of failure
Economic conditions
Share of assets assessed as good
77.1%
Share of assets assessed as doubtful
21.9%
Share of assets assessed as worthless
1.1%

Description

No article describes a depositor run. By Dec 29, 1932 the bank is already in a receiver's hands and RFC made a loan to the receiver; by 1937 the receiver resigns and gives up the receivership. This indicates the bank suspended and remained closed (receivership). 1902 article only notes the bank opening; no runs are reported.

Events (5)
1. July 10, 1902 Chartered
Source
historical_nic
2. August 14, 1902 Other
Newspaper Excerpt
H. S. White, the new cashier of the Kingwood National Bank, IS in town this week making ready to open up the new Bank September 1st.
Source
newspapers
3. June 23, 1931 Receivership
Source
historical_nic
4. December 29, 1932 Receivership
Newspaper Excerpt
one of $16,000 to the receiver of the Kingwood National Bank at Kingwood, W. Va., which is also in a receiver's hands.
Source
newspapers
5. December 29, 1932 Suspension
Cause
Government Action
Cause Details
Bank had been placed in receivership prior to Dec 29, 1932; RFC authorized loan to the receiver to provide funds for distribution to depositors.
Newspaper Excerpt
a loan of $16,000 to the receiver of the Kingwood National Bank at Kingwood, W. Va., which is also in a receiver's hands.
Source
newspapers

Newspaper Articles (3)
1. August 14, 1902 West Virginia Argus Kingwood, WV
Article from West Virginia Argus, August 14, 1902

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Article Text

J. T. Dailey was over at Morgantown business this week. Mrs John M. Hoffman and son from Morgantown, are here stopping at The Inn. Mrs. Emma Ritchie from Richmond, Va., has been here visiting her sister. Mrs. G.W. Martin. Several young ladies from here are down on the "Winding River Cheat" camping out in Hagan's Grove. A lot of the young fulks are down on the siver camping at the Club House and having good time generally. This has been a very cool August so far and very wet in spite of Hick's forecast that it would be hot and dry. Mrs. H. S. Whetsell returned home yes. terday from a ten days' visit at-Aurora She was accompanied by her sister, who came over for a visit. Charles W. Wolfe of Tunnelton, is here this week representing the Prudential Insurance Company of Newark, New Jersey, and several fire insurance companies. The State Council of West Virginia Junior Order of United American Mechanics, will convene in fourteenth annual convention at New Martinsville, September 9th. Hon. Romeo H. Freer, Attorney General of the State, has written that he will be at the Soldiers' Reunion at the Camp Ground on August 20 and 21 and will talk to the old veterans. Prof. St. George Tucker Brooke and daughter, Miss Namie, from Morgantown, were in Kingwood over night during the past week stopping at The Inn. They were driving across the country to Charles Town. Raymond W. Mason was in town this week He on his way back to work in Fairmont. had been living there for some time but did not agree with his wife and baby and he in brought them back to their home Albrightsville. Buckner F. Scott, formerly captain of the Terra Alia company. who resigned and entered West Point, has been commissioned second lieutenant, having left the military academy. He will be adjutant of the third battalion, First infantry. Harry Worthington, who used to live at and was well known in this is now in the Soldiers' county, Terra Alta Home there at Los the Angeles, California, and has been past two years. He went from here to Butte, Montana, and part of his family are there yet. 11. S. White, the new cashier of the Kingwood National Bank, IS in town this week making ready to open up the new Bank September 1st. 11e has resigned as cashier of the Bank at Salem and is succeeded by Oscar C. Wilt, cashier of the Bank at Farmington. Our boys go over to Mt. Lake Park Sat. urday to play ball. It is Labor Day there and big excursions will be run on the railroads and a large crowd expected. Our boys are expecting a red hot game ot ball as there are a lot of college players at Mt. Lake now and the Oakland team is now a pretty strong one. Dancan McRae and family of the Secretary of State office at Charleston, have been for several days the guests of the gentleman's sister, Mrs. J. W Phillips, on Washington St.,Grafion. Mr. McRa has been in ill health for some time past and will leave Grafton shortly for his old home in Monongalia county, where he hopes to recuperate his failing energies. Here are some locals from the Dominion : Hon. Wm. G. Worley of Kingwood stopped at the Peabody today. Mrs. Albert Foriney and daughter of Morganown, left Saturday morning over in the M. & K. railroad to visit friends Preston county. Miss Evans of Huntington, who has been visiting at the Fairfax home in Preston the county, has come to Morgantown and is guest of Miss Ida Dent, on Bumbo Lane. Dr. Edward Purinton's thirty dav fast for ended Friday he food. Dr. Putipion scientific began taking purposes fast and is and today high- has satisfied with the result of the forth obtained ly much interesting data for his coming book.

2. December 29, 1932 The Republican Oakland, MD
Article from The Republican, December 29, 1932

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Article Text

Banks Granted Loans By Reconstruction Fiance Corporation Announcement was recently made in Washington that the Reconstruction Finance Corporation has authorized loans to several banks in this section of the country, among them being a loan of $10,500 to the Bayard National Bank of Bayard, W. Va., and one of $16,000 to the receiver of the Kingwood National Bank at Kingwood, W. Va., which is also in a receiver's hands. Locally it was reported the money will be used to match other sums already in the receivers' hands for distribution to depositors in a dividend payment planned for the near future.

3. 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.