Cherryvale National Bank - Cherryvale, KS

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 4288
Charter Number: 4288
Start Date: August 20, 1892
Location: Cherryvale, Kansas (37.270, -95.552)

Metadata

Model: gpt-5-mini
Short Digest: dee7967fab074dd3

Response Measures

None

Receivership Details

Depositor recovery rate: 35.0%
Date receivership started: 1892-07-02
Date receivership terminated: 1897-01-05
OCC cause of failure: Fraud
Share of assets assessed as good: 15.5%
Share of assets assessed as doubtful: 30.9%
Share of assets assessed as worthless: 53.6%

Description

Article (Aug 20, 1892 report) states the bank is 'defunct,' officers arrested for fraud and a receiver (Grant Hornaday) appointed. No run is mentioned; this is a suspension/closure due to bank-specific misconduct.

Events (4)

1. April 16, 1890 Chartered

Source: historical_nic

2. July 2, 1892 Receivership

Source: historical_nic

3. August 20, 1892 Receivership

Newspaper Excerpt: Grant Hornaday of this city has been appointed receiver of the bank over which they presided.
Source: newspapers

4. August 20, 1892 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank officers accused of fraudulently causing the failure and making a false assessment; criminal charges against VP and warrant for president.
Newspaper Excerpt: Timothy C. Malloy, vice president of the defunct national bank of Cherryvale, Kan., was arrested... The officers of the bank are accused of making a false assessment.
Source: newspapers

Newspaper Articles (1)

1. August 23, 1892 The Sedalia Weekly Bazoo Sedalia, MO

Article from The Sedalia Weekly Bazoo, August 23, 1892

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Article Text

Kansas Bank Wreckers Arrested. FORT SCOTT, Kan., Aug. 20.-Timothy C. Malloy, vice president of the defunct national bank of Cherryvale, Kan., was arrested yesterday on the charge of fraudulently causing the failure of the bank. R. T. Webb, president of the bank, for whom there is also a warrant, has not yet been found. Malloy was brought here for hearing before United States Commissioner S. P. Mosher. The officers of the bank are accused of making a false assessment. Grant Hornaday of this city has been appointed receiver of the bank over which they presided.