First National Bank (Butler, PA)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
July 18, 1879
Location
Butler, Pennsylvania (40.861, -79.895)
Bank Type
national
Charter Number
309

Metadata

Receivership Details

Depositor recovery rate
81.0%
Date receivership started
1879-07-23
Date receivership terminated
1887-08-06
OCC cause of failure
Losses
Share of assets assessed as good
6.9%
Share of assets assessed as doubtful
74.0%
Share of assets assessed as worthless
19.1%

Events (4)

1. March 11, 1864 Chartered
Source
historical_nic
2. July 18, 1879 Suspension
Cause
Government Action
Cause Details
Closed by Bank Examiner Young who found capital and reserve impaired
Newspaper Excerpt
the First National bank of Butler was closed by Bank Examiner Young, who reports that the funds, capital and reserve, are impaired
Source
newspapers
3. July 23, 1879 Receivership
Newspaper Excerpt
The bank will go into the hands of a receiver. (Comptroller notices published Aug 5, 1879; receiver Henry B. Cullum named in notices.)
Source
newspapers
4. July 23, 1879 Receivership
Source
historical_nic

Newspaper Articles (10)

Article from Daily Globe, July 19, 1879

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Article Text

National Bank in Trouble

PITTSBURGH, July 18.-A special from Butler, Pa., to the Commercial Gazette says that the First National bank of Butler was closed by Bank Examiner Young, who reports that the funds, capital and reserve, are impaired The bank will go into the hands of a receiver.


Article from Wheeling Register, July 19, 1879

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Bank Failure

PITTSBURGH, Julv 18.-A special from Butler, Pa., to the Commercial-Gazette says thot the First National bank, of Butler, was closed to-day by BankExaminer Young, who reports that he finds the capital stock and reserve fund impaired. The bank will go into the hands of 2 receiver.


Article from Chicago Daily Tribune, July 19, 1879

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Article Text

FINANCIAL

Epecial Disputch to The Tribune. FORT WATNE, Ind., July 18.-Ferdinand Fleigner, furniture-dealer, has made an assignment. Liabilities, $0,000; assets, $4,000. PITTEBURG, July 18.-A special from Butler, Pa., to the Commercial-Guzelte says that the First National Bank of Butler was closed to-day by Bank-Examiner Y oung, who reports that he Bude the capital and reserve impaired. The bank will go into the hands of a Receiver.


Article from The Somerset Herald, July 23, 1879

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Article Text

The First National Bank of Butler, Pa., Closes its Doors. PITTSBURGH, July 18.-A special from Butler to the Pittsburgh Commercial Gazette says the First National Bank of Butler was closed by Bank Examiner Young, who reports that he finds the capital stock and reserve fund impaired. The bank will go into the hands of a receiver.


Article from The Democratic Press, July 24, 1879

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Article Text

PITTSBURG, July18-A special from Butler, Penusylvania, to the Commereial Gazette, says that the First National Bank of Butler was closed today by Bank Examiner Young, who reports that he finds the capital and reserve impaired. The bank will go into the hands of a receiver.


Article from Butler Citizen, September 10, 1879

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Article Text

Notice

TREASURY DEPARTMENT, Office of Comptroller of the Currency, WASHINGTON, Aug. 5, 1879. Notice is hereby given to all persons who may have claims against the First National Bank of Butler, that the same must be presented to Henry B. Cullum, Receiver, at Butler, Pa., with the legal proof thereof, within three months from this date, or they will be disallowed. J. S. LANGWORTHY, Acting Comptroller of the Currency. aug13-3m


Article from Butler Citizen, October 1, 1879

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Notice

TREASURY DEPARTMENT, } Office of Comptroller of the Currency, WASHINGTON, Aug. 5, 1879. Notice is hereby given to all persons who may have claims against the First National Bank of Butler, that the same must be presented to Henry B. Cullum, Receiver, at Butler, Pa., with the legal proof thereof, within three months from this date, or they will be disallowed. J. S. LANGWORTHY, Acting Comptroller of the Currency. aug13-3m


Article from Butler Citizen, October 15, 1879

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Notice

TREASURY DEPARTMENT, Office of Comptroller of the Currency, WASHINGTON, Aug. 5, 1879. Notice is hereby given to all persons who may have olaims against the First National Bank of Butler, that the same must be presented to Henry B. Cullum, Receiver, at Butler, Pa., with the legal proof thereof, within three months from this date, or they will be disallowed. J. S. LANGWORTHY, Acting Comptroller of the Currency. aug13-3m


Article from Butler Citizen, November 5, 1879

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Notice

TREASURY DEPARTMENT, Office of Comptroller of the Currency, WASHINGTON, Aug. 5, 1879. Notice is hereby given to all persons who may have claims against the First National Bank of Butler, that the same must be presented to Henry B. Cullum, Receiver, at Butler, Pa., with the legal proof thereof, within three months from this date, or they will be disJ. S. LANGWORTHY, allowed. Acting Comptroller of the Currency aug18-3m


Article from Butler Citizen, March 31, 1880

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Notice

In pursuance of an order of the Court of Common Pleas of Butler county. obtained under the direction of the Comptroller of the Ourrency, notice is hereby given that on the 10th day of April, 1880, at the hour of 10 o'clock. A. M., I will expose ten (10) shares of the capital stock of the German National Bank of Millerstown to public sale, at or in front of said Bank, in the borough of Millerstown, Butler county, Pa.. subject to an assessment of $45 16 per JOHN N. PURVIANCE, share. Receiver of the Firsi National Bank, Butler. Pa. mar31-2t*