First National Bank (Belmar, NJ)

Episode Information

Episode UID
536301600
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
53630 national
Charter Number
5363
Start Date
April 29, 1933
Location
Belmar, New Jersey (40.178, -74.022)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
78e67b9ace2d3b8a

Response Measures

None

Description

Articles show the bank was closed in April 1933 and officials/committee working toward reopening; final outcome not present in these pieces.

Events (4)

1. May 21, 1900 Chartered
Source
historical_nic
2. April 29, 1933 Suspension
Cause
Government Action
Cause Details
Bank closed and federal exam/classification of investments underway; officials coordinating with federal authorities and local committee to reopen.
Newspaper Excerpt
committee of five aid officials of the First National bank, Belmar, opening that institution for business appointed ... Markus authorized appoint the after opened the closing this hurting business
Source
newspapers
3. October 28, 1933 Other
Newspaper Excerpt
Belmar Bank Asks Additional Time To Complete Reorganization Plan ... threat to appoint receiver for the First National bank of Belmar by the controller of the currency ... request had made for two more weeks' time to put the drive ... obtaining of the necessary two-thirds consent of the old stockholders to the sale the assets to the new ... waiver of deposits beyond the necessary percent of the deposits ... successful consummation of the federal government's bank plan will be realized thru the united efforts our citizens
Source
newspapers
4. December 1, 1933 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from Asbury Park Press, April 29, 1933

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Article Text

ASSIST Belmar Chamber of Commerce Group Will Join In First National Plan. MARKUS CITES AFFECT ON BUSINESS IN BORO committee of five aid officials of the First National bank, Belmar, opening that institution for business appointed the Belmar chamber night Former Sen. Sterner will will Claude Birdsall, Harry Lewis, Hurley and Moyar local Charles Markus, president the group, an ex-officio memMarkus authorized appoint the after opened "the closing this hurting business Belmar, and the chamber commerce body business might not be amiss appoint committee to cooperate with banking officials effort might make toward reopening the bank would me Markus "Every day bank stays closed money lost from pocket.' Sterner, being upon Markus for an the proposal, the for the bank closing, department public due resort and formally made the appoint the the conference Washington this Sterner said, "the officials our local banking officials the fine the bank, with and charge year in said, the bank in the East that had to their attention did not such condition. Sterner said that the committee would busy away," and that probably would necessary additional members the that canvass of depositors reopening agreement necessary At present, bank officials are contactstockholders the institution for contribution the par value holdings toward reserve cover investments classed by treasury department completed, officials the Federal then decided necessary to restrict portion the Ernest Blaicher reported the results the proposals the for the street, for ing the trolley tracks on that street and markers. report on improvefor river, the bridge; hearing on the bridge, the Ocean bridge, jetty light and resurvey of the river.


Article from Asbury Park Press, October 28, 1933

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Article Text

Belmar Bank Asks Additional Time To Complete Reorganization Plan A threat to appoint receiver for the First National bank of Belmar by the controller of the currency in Washington, and statement by cashier the bank, and the depositors' committee, saying that the goal reopen the bank almost reached and request had made for two more weeks' time to put the drive were revealed by the Belmar banking officials today. The statement issued by Lyman and the depositors' committee as follows 'With the obtaining of the necessary two-thirds consent of the old stockholdto the sale the assets to the new and the waiver deposits well beyond the necessary percent of the deposits, the stock $105.000 of the total that successful consummation of the federal government's bank will realized thru the united efforts our citizens (Continued on Page Two)