First National Bank (Ambler, PA)

View Charter #3220 on SPMC View balance sheet

Episode Information

Episode Type
Suspension → Closure
Start Date
March 26, 1934
Location
Ambler, Pennsylvania (40.155, -75.222)
Bank Type
national
Charter Number
3220

Metadata

Episode ID
Bank ID
City ID
421168252
Model
gpt-5-mini
Short Digest

Receivership Details

Depositor recovery rate
71.5%
Date receivership started
1934-03-26
Date receivership terminated
1940-12-21
Share of assets assessed as good
48.3%
Share of assets assessed as doubtful
40.2%
Share of assets assessed as worthless
11.5%

Notes

Using known government receivership date (1934-03-26) as authoritative; later articles show receiver actions and dividend payments.

Events (5)
1. July 11, 1884 Chartered
Source
historical_nic
2. March 26, 1934 Receivership
Newspaper Excerpt
Edward F. Kane, Receiver of the First National Bank of Ambler.
Source
newspapers
3. March 26, 1934 Receivership
Source
historical_nic
4. March 2, 1935 Other
Newspaper Excerpt
Edward F. Kane, Receiver of the First National Bank of Ambler, Trustee...
Source
newspapers
5. July 1, 1935 Other
Newspaper Excerpt
Twenty-five per cent on deposits will be paid beginning July 1.
Source
newspapers

Newspaper Articles (2)
1. March 12, 1935 The Reporter Lansdale, PA

Article Text

ACUFF—Mar. 2—Edward F. Kane, Receiver of the First National Bank of Ambler, Trustee u-w of Margaret M. Acuff.

JONES—Mar. 2—Edward F. Kane, Receiver of the First National Bank of Ambler, Trustee for Leroy Jones.

VAN WINKLE—Mar. 2—Edward F. Kane, Receiver of the First National Bank of Ambler, Trustee u-w of Walter Van Winkle.

HALLOWELL—Mar. 2—Edward F. Kane, Receiver of the First National Bank of Ambler, Trustees u-w of Isaac J. Hallowell.

2. June 27, 1935 The Reporter Lansdale, PA

Article Text

Closed Ambler Bank to Pay 25 Per Cent

Further liquidation of accounts of the closed First National Bank of Ambler will be made beginning July 1 when twenty-five per cent on deposits will be paid. This announcement was made today by Harold J. Collins, formerly of Washington, D. C., and Minnesota, who was appointed receiver on June 15 following the death of the former receiver, Edward F. Kane, on June 10.

The first payment on deposits was twenty per cent made over a year ago. This second payment will be based on the total amount each depositor had on deposit at the time of the bank's closing. Mr. Collins said that the payments will be made during regular banking hours as fast as the work can be handled.