Citizens National Bank (New Lexington, OH)

View Charter #6505 on SPMC View balance sheet

Episode Information

Episode UID
650501583
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
65050 national
Charter Number
6505
Start Date
November 11, 1931
Location
New Lexington, Ohio (39.717, -82.207)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1ef7e4db3a019217

Response Measures

Full suspension

Receivership Details

Date receivership started
1931-11-30
Date receivership terminated
1932-02-15

Description

Receiver appointed about two weeks after the suspension, indicating permanent closure.

Events (7)
1. November 24, 1902 Chartered
Source
historical_nic
2. November 11, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals and frozen assets indicating solvency/liquidity trouble triggered depositor flight
Measures
Directors posted notice of closing after meeting; bank closed
Newspaper Excerpt
closed today at the order of its directors, due to heavy withdrawals of deposits
Source
newspapers
3. November 11, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors ordered closure because of heavy withdrawals and frozen assets
Newspaper Excerpt
The Citizens' National Bank here closed today at the order of its directors, due to heavy withdrawals of deposits frozen assets. The directors posted notice of closing last night after meeting.
Source
newspapers
4. November 30, 1931 Receivership
Source
historical_nic
5. December 2, 1931 Receivership
Newspaper Excerpt
C. A. Jones ... has been appointed receiver for the Citizens National Bank here which closed two weeks ago. Jones arrived here Tuesday.
Source
newspapers
6. February 15, 1932 Restored To Solvency
Source
historical_nic
7. April 5, 1932 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)
1. November 11, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, November 11, 1931

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Article Text

OHIO BANK SUSPENDS. New Lexington, Ohio, November Citizens National Bank here today the of its to heavy with of deposits and frozen The notice closing last night after meeting The bank had capital of $75,000 and $1,500,000 O. Cullen President George Rodgers, former President and Cashier, resigned November 1,

2. November 11, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, November 11, 1931

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Article Text

OHIO BANK SUSPENDS. New Lexington, Ohio, November The Citizens' National Bank here closed today at the order of its directors, due to heavy withdrawals of deposits frozen assets. The directors posted notice of closing last night after meeting. The bank had capital of $75,000 and resources approximately $1,500,000. J. O. Cullen President. George L. Rodgers, former Vice President and Cashier, resigned November 1,

3. December 2, 1931 The Daily Advocate Greenville, OH
Article from The Daily Advocate, December 2, 1931

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Article Text

Former Secretary To Governor Named As Bank Receiver New Lexington, O., Dec. 2.-C.A Jones, former secretary to Governor Myers Y. Cooper, has been appointed receiver for the Citizens National Bank here which closed two weeks ago. Jones arrived here Tuesday.