Coraopolis State Bank (Coraopolis, PA)

Episode Information

Episode Type
Suspension → Closure
Start Date
January 1, 1932*
Location
Coraopolis, Pennsylvania (40.518, -80.167)
Bank Type
state
Routing Number
60-0724

Metadata

Episode ID
Bank ID
City ID
421213955
Model
gpt-5-mini
Short Digest

Notes

Article places this bank among 'closed banks' from 1932-33 now paying a dividend; exact suspension date not stated.

Events (1)
1. January 1, 1932* Suspension
Cause
Government Action
Cause Details
Bank was one of the banks closed during the 1932-33 wave and is under department/receiver administration, now making dividends.
Newspaper Excerpt
Coraopolis State Bank, which will pay 5 per cent, according to the department, as soon as a few additional collections are made.
Source
newspapers

Newspaper Articles (2)
1. October 6, 1935 The Pittsburgh Press Pittsburgh, PA

Article Text

State Banks Still Lagging; Millions Are 'Frozen' Here (Continued From Page One) the banks," said Dr. Luther Harr, State Secretary of Banking, in Harrisburg. Dr. Harr said that 75 per cent of the remaining assets of closed banks in this district is in real estate and mortgages, which usually are slow to liquidate. Thus more than 120,000 residents of the county who thought they had money in the banks in 1932-33 were told that they must wait for some additional time for further dividends. Here Are Best Bets The five institutions which offer the best prospects are: Coraopolis State Bank, which will pay 5 per cent, according to the department, as soon as a few additional collections are made. Pennsylvania Trust, which has a grant equal to about 10 per cent from the RFC, but cannot make the distribution until a pending suit is disposed of, probably in another week or two. Estate of M. Berardini (private bank), which will pay 10 per cent as soon as legal questions are solved, expected in the very near future. Pennsylvania Deposit of McKeesport, which is expected to pay 10 per cent or more through a second RFC loan, now being negotiated. Pennsylvania Bank & Trust, which is to pay dividend as soon as a few additional collections are made.

2. October 6, 1935 The Pittsburgh Press Pittsburgh, PA

Article Text

Here Are Best Bets The five institutions which offer the best prospects are: Coraopolis State Bank, which will pay 5 per cent, according to the department, as soon as a few additional collections are made. Pennsylvania Trust, which has a grant equal to about 10 per cent from the RFC, but cannot make the distribution until a pending suit is disposed of, probably in another week or two. Estate of M. Berardini (private bank), which will pay 10 per cent as soon as legal questions are solved, expected in the very near future. Pennsylvania Deposit of McKeesport, which is expected to pay 10 per cent or more through a second RFC loan, now being negotiated. Pennsylvania Bank & Trust, which is to pay dividend as soon as a few additional collections are made.