First National Bank (Renovo, PA)

View Charter #3763 on SPMC View balance sheet

Episode Information

Episode UID
376301614
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
37630 national
Charter Number
3763
Start Date
June 8, 1934
Location
Renovo, Pennsylvania (41.326, -77.751)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a081b65fe7431264

Response Measures

None

Receivership Details

Depositor recovery rate
39.0%
Date receivership started
1932-02-26
Date receivership terminated
1939-10-31
Share of assets assessed as good
16.4%
Share of assets assessed as doubtful
54.6%
Share of assets assessed as worthless
29.0%

Description

Articles state the bank was closed and in receivership by 1934 but do not give the suspension date or cause.

Events (4)
1. July 28, 1887 Chartered
Source
historical_nic
2. February 26, 1932 Receivership
Source
historical_nic
3. June 8, 1934 Receivership
Newspaper Excerpt
Howard N. Cassel, receiver of the First National Bank of Renovo, seeks to recover $5,000 ... Frank cashed certificate of deposit for his brother when he knew the bank was insolvent, the government charged ... June 8, 1934.
Source
newspapers
4. * Suspension
Cause Details
Bank had closed and been placed in receivership; no cause specified in provided articles.
Newspaper Excerpt
receiver of the closed First National Bank of Renovo
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. June 8, 1934 Wilkes-Barre Times Leader Wilkes-Barre, PA
Article from Wilkes-Barre Times Leader, June 8, 1934

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Article Text

Receiver Seeks To Recover $5,000 Williamsport, Pa., June 8-(/P)Howard N. Cassel, receiver of the First National Bank of Renovo, seeks to recover $5,000 from Frank J. Burnett, former cashier, and his brother, John B. Burnett. both of Meads crossing, in a civil suit in Federal Court. Frank cashed certificate of deposit for his brother when he knew the bank was insolvent, the government charged in opening the case before Judge Albert L. Watson yestreday. Two of eight perjury charges charges against Isaac Rochman, of Harrisburg, were dropped due to the death of witness. Rochman's case is the last criminal case of the session.

3. October 29, 1934 The Express Lock Haven, PA
Article from The Express, October 29, 1934

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Article Text

Bank Receiver Resigns Approximately 250 children enRenovo-Howard N. Cassel. re- joyed festive games. Prizes were ceiver of the closed First National awarded to Dolores Garner for the Bank of Renovo for the past two most beautiful costume: to June years, has resigned his position and Nicholas and Helen Gossler. the will. on November assume the Gold Dust Twins, for most clever position of vice president of the costuming and to Ruth Wagner for Citizens National Bank of Wells- the most comic masquerade. All ville. N. Y. children received a gift of candy