Moshannon National Bank (Philipsburg, PA)

View Charter #5066 on SPMC View balance sheet

Episode Information

Episode UID
506601595
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
50660 national
Charter Number
5066
Start Date
November 28, 1932
Location
Philipsburg, Pennsylvania (40.893, -78.216)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
41707f56184d22ac

Response Measures

None

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%

Description

A receiver is listed in 1932 and receiver personnel changes appear in 1934, indicating the bank was in receivership (closed) rather than operating.

Events (6)
1. May 8, 1897 Chartered
Source
historical_nic
2. October 12, 1931 Receivership
Source
historical_nic
3. November 28, 1932 Receivership
Newspaper Excerpt
Philipsburg, Moshannon Nat. Bank, (receiver) $186,000.
Source
newspapers
4. November 28, 1932 Suspension
Cause
Government Action
Cause Details
Bank had a receiver appointed (listed as in receivership in newspaper list).
Newspaper Excerpt
Philipsburg, Moshannon Nat. Bank, (receiver) $186,000.
Source
newspapers
5. October 6, 1934 Receivership
Newspaper Excerpt
BANK RECEIVER Philipsburg, McFadden. Representative resigned receiver Moshannon Bank National Bank of OsceMills.
Source
newspapers
6. October 27, 1934 Receivership
Newspaper Excerpt
NAMED BANK RECEIVER Philipsburg, Oct. Kerr, secretary of the Democratic State Committee, has assumed the 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.