Culpeper National Bank (Culpeper, VA)

View Charter #5591 on SPMC View balance sheet

Episode Information

Episode UID
559101500
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
55910 national
Charter Number
5591
Start Date
December 11, 1924
Location
Culpeper, Virginia (38.473, -77.997)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c071bb1694f425f7

Response Measures

None

Description

Bank suspended by board order for reorganization and subsequently reopened under a reorganization.

Events (4)
1. October 3, 1900 Chartered
Source
historical_nic
2. December 11, 1924 Suspension
Cause Details
Board of directors ordered suspension to permit a re-organization plan to be worked out.
Newspaper Excerpt
which suspended business on December 11th, by order of the board of directors
Source
newspapers
3. December 27, 1924 Other
Newspaper Excerpt
The Board has called a special meeting of the stockholders ... December 27th. At this time the plan of re-organization will be submitted to the stockholders, and if approved by them, the prospects of the re-opening of the bank will be greatly enhanced.
Source
newspapers
4. April 16, 1925 Reopening
Newspaper Excerpt
newly re-organized Culpeper National bank ... since the bank reopened ... deposits have only decreased about $30,000, ... the reserve with the Federal Reserve bank has always kept up to the required figure.
Source
newspapers

Newspaper Articles (2)
1. December 25, 1924 Culpeper Star-Exponent Culpeper, VA
Article from Culpeper Star-Exponent, December 25, 1924

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Article Text

RE-ORGANIZATION IS BEING WORKED OUT Directors of Culpeper National Bank Have Called A Stockholders' Meeting For Saturday, December 27. The Board of Directors of the Culpeper National Bank, which suspended business on December 11th, by order of the board of directors, have worked out a plan of re-organization, by which they propose that the bank shall be re-opened without a loss to any depositor. The Board has called a special meeting of the stockholders of the bank, said meeting to be held on Saturday next, December 27th. At this time the plan of re-organization will be submitted to the stockholders, and if approved by them, the prospects of the re-opening of the bank will be greatly enhanced.

2. April 16, 1925 Culpeper Star-Exponent Culpeper, VA
Article from Culpeper Star-Exponent, April 16, 1925

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Article Text

CULPEPER NATIONAL MAKING GOOD PROGRESS Statements of All Banks of This County Published in Today's Star. On page 11 of this issue of The Star can be found the financial statements of the three banks of Culpeper county. All three institutions in thriving condition. Many persons will be especially Interested in the statement of the lewly re-organized Culpeper Nationbank. Th statement shows that deposits have only decreased about $30,000, which is seasonal. The rediscounts of the institution have been reduced apbroximately 232,000, and the reserve with the ederal Reserve bank has always kept up to the required figure. undivided profits account and eserve for losses have been increased $11,679.92 since the bank reopened overdrafts have been decreased $3,170.19. Another item on the credit side of ledger is that the bank building furniture and fixtures are now falued at $34,702.27, which is $12,106 less than the figure at which they were carried when the bank Harold Brown, the young but "allusiness" cashier, stated yesterday that all slow loans are being liquidated as fast as practicable, and every new loan is being carefully investigated before being made The progress being made by the Supper National was highly praised week by an official of the FedReserve.