Second National Bank - Morgantown, WV

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2458
Charter Number: 2458
Start Date: October 13, 1931
Location: Morgantown, West Virginia (39.630, -79.956)

Metadata

Model: gpt-5-mini
Short Digest: cb8b7464

Response Measures

None

Receivership Details

Depositor recovery rate: 95.0%
Date receivership started: 1931-11-11
Date receivership terminated: 1941-06-30
Share of assets assessed as good: 42.0%
Share of assets assessed as doubtful: 45.6%
Share of assets assessed as worthless: 12.4%

Description

Article (Oct 13, 1931) reports the Second National Bank of Morgantown was closed when directors suspended business to conserve assets. No explicit run is described and no reopening is mentioned; classification is a suspension that results in closure (voluntary action by directors).

Events (3)

1. February 24, 1880 Chartered

Source: historical_nic

2. October 13, 1931 Suspension

Cause: Voluntary Liquidation
Cause Details: Directors announced the bank was closed/suspended to conserve assets; appears to be a voluntary suspension/closure rather than described as a depositor run or government seizure.
Newspaper Excerpt: THREE W. VIRGINIA BANKS ARE CLOSED ... the Second National Bank of Morgantown, was left without banking ... The Morgantown bank had cap. $250,000 deposits 900,000.
Source: newspapers

3. November 11, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. October 13, 1931 Sun-Journal Lewiston, ME

Article from Sun-Journal, October 13, 1931

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Article Text

THREE W. VIRGINIA BANKS ARE CLOSED CHARLESTON, Oct. West Virginia banks closed and with the sus. pension business the Second National Bank of Morgantown, was left without banking The Grafton Bank and Trust Citizens' Bank Weston closed conserve assets, the directors announced. They were State The Morgantown bank had cap. $250,000 deposits 900,000. Grafton had $100,000 and deposits of $784,294.