Moshannon National Bank (Philipsburg, PA)

View Charter #5066 on SPMC View balance sheet

Episode Information

Episode Type
Suspension → Closure
Start Date
October 12, 1931
Location
Philipsburg, Pennsylvania (40.893, -78.216)
Bank Type
national
Charter Number
5066

Metadata

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

Receivership Details

Depositor recovery rate
91.3%
Date receivership started
1931-10-12
Date receivership terminated
1941-06-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
10.1%
Share of assets assessed as doubtful
81.9%
Share of assets assessed as worthless
8.1%

Notes

Known receivership (government-appointed) dated 1931-10-12; later articles report receiver personnel changes.

Events (5)
1. May 8, 1897 Chartered
Source
historical_nic
2. October 12, 1931 Receivership
Newspaper Excerpt
Philipsburg, Moshannon Nat. Bank, (receiver) $186,000.
Source
newspapers
3. October 12, 1931 Receivership
Source
historical_nic
4. October 6, 1934 Other
Newspaper Excerpt
BANK RECEIVER QUITS. Philipsburg W. McFadden ... resigned Friday as receiver of the Moshannon National Bank of Philipsburg
Source
newspapers
5. October 27, 1934 Other
Newspaper Excerpt
NAMED BANK RECEIVER Philipsburg, Oct. Kerr ... has assumed the [duties] of the Moshannon Bank ... T. W. McFadden resigned.
Source
newspapers

Newspaper Articles (4)
1. November 28, 1932 Warren Times Mirror Warren, PA

Article Text

Pennsylvania

Avis, state bank of Avis, $30,000. Charleroi, First National Bank of, $43,500. Claysville, Farmers National Bank of, $15,500. Elwood City, First National Bank, $15,000. Emaus, Security Trust Company, $50,000. Hanover, Farmers State Bank of Hanover, $50,048. Jeannette, First Bank and Trust Company, $63,500. Johnstown, First National Bank of, $25,000. Meadville, Merchants National Bank & Trust Company, $200,000. Philadelphia, Kensington Security Bank & Trust Co., $180,000. Philipsburg, Moshannon Nat. Bank, (receiver) $186,000. Pittsburgh, Manchester Savings Bank & Trust Co. $249,500. Pittsburgh, Ohio Valley Bank, $63,634. South Fork, Union Deposit Bank, $10,000. Wilkes-Barre, Hanover Bank & Trust Co., $19,000.

2. October 6, 1934 The Patriot-News Harrisburg, PA

Article Text

BANK RECEIVER Philipsburg, McFadden. Representative resigned receiver Moshannon Bank National Bank of OsceMills.

3. October 6, 1934 Intelligencer Journal Lancaster, PA

Article Text

BANK RECEIVER QUITS

Philipsburg W. McFadden son of Representative L. L. T. McFadden. of Canton, resigned Friday as receiver of the Moshannon National Bank of Philipsburg and the Peoples National Bank of Osceola Mill

4. October 27, 1934 The Patriot-News Harrisburg, PA

Article Text

NAMED BANK RECEIVER Philipsburg, Oct. Kerr, secretary of the Democratic State Committee, has assumed the of the Moshannon Bank and the Bank Osceola Mills T. W. McFadden, resigned.