Painesville National Bank (Painesville, OH)

View Charter #2842 on SPMC View balance sheet

Episode Information

Episode Type
Suspension → Closure
Start Date
November 21, 1932
Location
Painesville, Ohio (41.724, -81.246)
Bank Type
national
Charter Number
2842

Metadata

Episode ID
Bank ID
City ID
391044274
Model
gpt-5-mini
Short Digest

Receivership Details

Depositor recovery rate
58.7%
Date receivership started
1932-11-21
Share of assets assessed as good
0.4%
Share of assets assessed as doubtful
74.2%
Share of assets assessed as worthless
25.4%

Notes

Newspaper articles (1935) report a receiver appointment, but official receivership date is earlier (1932-11-21); dates conflict.

Events (4)
1. December 19, 1882 Chartered
Source
historical_nic
2. September 10, 1929 Voluntary Liquidation
Source
historical_nic
3. November 21, 1932 Receivership
Newspaper Excerpt
Announcement of the appointment of Eugene G. Christen ... as receiver ... for ... the Painesville National Bank
Source
newspapers
4. November 21, 1932 Receivership
Source
historical_nic

Newspaper Articles (2)
1. September 21, 1935 The Plain Dealer Cleveland, OH

Article Text

NAMED BANK RECEIVER

Lima Man to Run Six Ohio Institutions.

WASHINGTON, Sept. 20.—(AP)—Announcement of the appointment of Eugene G. Christen, former Lima banker, as receiver for six northern Ohio banking institutions came today from J. F. T. O'Connor, comptroller of the currency, to the office of Representative Frank L. Kloeb.

Effective Oct. 1, Christen will succeed H. Ross Ake as receiver of the First National Bank and the Union National Bank at Massillon, the First National at Geneva, the First National at Chardon, the Painesville National Bank and the First National at Willoughby.

Reopen Portsmouth Foundry.

PORTSMOUTH, O., Sept. 20.—(AP)—The Foster Stove Co. of Ironton planned today to reopen the foundry department of the Portsmouth Stove & Range Co., one of the largest stove manufacturing plants in the tri-state area.

The plant closed five years ago when it went into receivership. Operations will resume next week.

2. September 21, 1935 The Plain Dealer Cleveland, OH

Article Text

WASHINGTON, Sept. 20.—(AP)—Announcement of the appointment of Eugene G. Christen, former Lima banker, as receiver for six northern Ohio banking institutions came today from J. F. T. O'Connor, comptroller of the currency, to the office of Representative Frank L. Kloeb.

Effective Oct. 1, Christen will succeed H. Ross Ake as receiver of the First National Bank and the Union National Bank at Massillon, the First National at Geneva, the First National at Chardon, the Painesville National Bank and the First National at Willoughby.