First National Bank - West Union, WV

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 6424
Charter Number: 6424
Start Date: January 1, 1933*
Location: West Union, West Virginia (39.296, -80.776)

Metadata

Model: gpt-5-mini
Short Digest: f4469223

Response Measures

None

Description

Article (Dec 23, 1933) reports that the Farmers and Merchants National Bank of Cambridge, Md., was among national banks whose reorganization plans were approved and were licensed/opened in the 10-day period ending Dec 20, 1933. No run is mentioned; this reflects a prior suspension/frozen deposits and subsequent reopening under Comptroller-approved reorganization (government action).

Events (5)

1. September 16, 1902 Chartered

Source: historical_nic

2. January 1, 1933* Suspension

Cause: Government Action
Cause Details: Bank had frozen deposits and required a reorganization plan approved by the Comptroller of the Currency (government-led reorganization/suspension).
Newspaper Excerpt: its frozen deposits were estimated at $578,000 ... The Farmers and Merchants National Bank of Cambridge, Md., was in the group whose reorganization plans were approved.
Source: newspapers

3. December 20, 1933 Reopening

Newspaper Excerpt: The Farmers and Merchants National Bank of Cambridge, Md., was in the group whose reorganization plans were approved. Twenty-four national banks were licensed and opened during the period (ending December 20).

4. February 5, 1934 Voluntary Liquidation

Source: historical_nic

5. * Other

Source: newspapers

Newspaper Articles (1)

1. December 23, 1933 The Washington Times Washington, DC

Article from The Washington Times, December 23, 1933

Click image to open full size in new tab

Article Text

D.C. BANK GETS OPENINGO.K. Industrial Savings Bank of Washington was one of 14 banks in the United States to receive approval for reorganization plans in the 10-day period ending December 20, it was announced today by the office of the Camptroller of the Currency. It was the only nonmember institution in the group, and its frozen deposits were estimated at $578.000, and unrestricted, $44,000. Twenty-four national banks were licensed and opened during the period. Twenty-three of these, with $28,060,000 frozen deposits of two national banks in receivership. The First National Banks of Honaker and Onancock, Va., and the First National of West Union, W. Va., are among those granted licenses. The Farmers and Merchants National Bank of Cambridge, Md., was in the group whose reorganization plans were approved. As a result of this action, there are now only 13 national banks in the country which do not have either an approved or a disapproved reorganization plan.