Citizens National Bank - Pineville, WV

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8749
Charter Number: 8749
Start Date: November 6, 1917
Location: Pineville, West Virginia (37.583, -81.537)

Metadata

Model: gpt-5-mini
Short Digest: d1f4ba57

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1917-07-16
Date receivership terminated: 1920-06-30
OCC cause of failure: Fraud
Share of assets assessed as good: 82.8%
Share of assets assessed as doubtful: 14.3%
Share of assets assessed as worthless: 2.9%

Description

Article (1917-11-06) states the bank went into the hands of a federal receiver and was unable to pay depositors. No run is mentioned. The episode is a suspension with permanent closure/receivership; surety paid the state's claim.

Events (4)

1. June 18, 1907 Chartered

Source: historical_nic

2. July 16, 1917 Receivership

Source: historical_nic

3. November 6, 1917 Receivership

Newspaper Excerpt: later went into the hands of a federal receiver and became unable to pay its depositors. The United States Fidelity and Guaranty company, as surety for the defaulting bank, has paid the claim of the state in full, having been surety for the bank as a state depository.
Source: newspapers

4. November 6, 1917 Suspension

Cause: Government Action
Cause Details: Placed in the hands of a federal receiver and became unable to pay depositors; bank suspended payments.
Newspaper Excerpt: this bank ... later went into the hands of a federal receiver and became unable to pay its depositors.
Source: newspapers

Newspaper Articles (1)

1. November 6, 1917 The Wheeling Intelligencer Wheeling, WV

Article from The Wheeling Intelligencer, November 6, 1917

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Article Text

# State's Loss Made Good. State Treasurer William S. Johnson has received from the United States Fidelity and Guaranty company of Baltimore, the sum of $7,385.89 in payment of the state's deposit with the Citizens National Bank of Pineville, W. Va. This bank was designated a state depository a few years ago but later went into the hands of a federal receiver and became unable to pay its depositors. The United States Fidelity and Guaranty company, as surety for the defaulting bank, has paid the claim of the state in full, having been surety for the bank as a state depository.