Second National Bank (Brownsville, PA)

View Charter #2673 on SPMC View balance sheet

Episode Information

Episode UID
267301606
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
26730 national
Charter Number
2673
Start Date
October 31, 1933
Location
Brownsville, Pennsylvania (40.020, -79.890)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7e0f45bef501dcc2

Response Measures

None

Receivership Details

Depositor recovery rate
21.0%
Date receivership started
1931-11-30
Date receivership terminated
1939-02-20
Share of assets assessed as good
4.8%
Share of assets assessed as doubtful
28.6%
Share of assets assessed as worthless
66.6%

Description

No newspaper evidence of a depositor run; Comptroller appointed a receiver indicating closure.

Events (6)
1. May 1, 1882 Chartered
Source
historical_nic
2. September 30, 1930 Voluntary Liquidation
Source
historical_nic
3. November 30, 1931 Receivership
Source
historical_nic
4. October 31, 1933 Receivership
Newspaper Excerpt
J. Edgar Hustead ... will succeed Alpha B. Gray as receiver of the defunct Monongahela National and Second National banks at Brownsville ... appointment ... becomes effective at the close of business October 31.
Source
newspapers
5. October 31, 1933 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency ordered appointment of a receiver and the banks were declared defunct.
Newspaper Excerpt
J. Edgar Hustead ... will succeed Alpha B. Gray as receiver of the defunct Monongahela National and Second National banks at Brownsville ... appointment ... becomes effective at the close of business October 31.
Source
newspapers
6. December 7, 1934 Other
Newspaper Excerpt
Institution of suits to collect Government assessments levied against stockholders of the Second National Bank of Brownsville was started by Attorney Harry A. Cottom for Receiver Donald W. Edwards.
Source
newspapers

Newspaper Articles (3)
1. August 17, 1893 The Sun New York, NY
Article from The Sun, August 17, 1893

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Article Text

Suspended Banks Reopen Their Doors. KANSAS CITY. Aug. 16. - The Armourdale Bank at Armourdale. which suspended business in the financial crash in the two Kansas cities one month ago yesterday. has reopened its doors and resumed business. FORT SCOTT, Kan., Aug. 16-The First National Bank of this city. which suspended on July 18, resumed business this morning. Bank Examiner Latimer of Sedalia. who has been in charge since it closed. has issued a notice to depositors saying that the institution is in good financial condition. WASHINGTON. Aug. 16.-The First National Bank of Rico, Col., which suspended payment June 30. 1893. having complied with the conditions imposed by the Comptroller of the Currency. and its capital stock being unimpaired. has been permitted to-day to reopen its doors for business. CLEVELAND. Aug. 16.-The Cardington Banking Company. at Cardington. O., closed its doors this afternoon. Theassets approximate $100. 000 and are said to be sufficient to meet the demands of the creditors. The President of the bank. Major W. G. Beatty. was obliged to make an assignment. and the bank could not weather the trouble brought on by his embarrassment. CARROLLTON. Pa.. Aug. 16.-The banks of Johnston. Bucks county. at Ebensburg. Carrollton. and Hastings. which suspended payments until they could get more money. will open again on Monday morning.

2. October 30, 1933 The Daily Herald Monongahela, PA
Article from The Daily Herald, October 30, 1933

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Article Text

BROWNSVILLE BANK RECEIVER NAMED J. Edgar Hustead. Uniontown. prominent coal operator of Fayette county. will succeed Alpha B. Gray as receiver of the defunct Monongahela National and Second National banks at Brownsville this Wednesday. His appointment was ordered by Comptroller of the Currency J. F. T. Connor at Washiington, D. C., and becomes effective at the close of business October 31. Gray tendered his resignation to the comptroller earliier this month.

3. December 7, 1934 The Daily Courier Connellsville, PA
Article from The Daily Courier, December 7, 1934

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Article Text

BANK RECEIVER SUES TO COLLECT ASSESSMENTS UNIONTOWN, Dec. 77.-Institution of euits to collect Government 88sesements levied against stockholders of the Second National Bank of Brownsville was started by Attorney Harry A. Cottom. counsel for Receivor Donald W. Edwards. In all the Government has lovied $125,000 representing the amount of capital stock in the bank but to date 11 number of the stockholders have paid their assessments. The action WAS directed at Naomi D. Reisinger of Uniontown on two shares of stock with a capital value of $200. Other actions will follow, Mr. Cottom indicated.