First National Bank (Bristol, VA)

Episode Information

Episode UID
68007971335
Episode Type
Suspension → Reopening
Bank Type
trust
Bank ID
6800797 routing
Routing Number
68-0079
Start Date
March 30, 1911
Location
Bristol, Virginia (36.596, -82.188)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3ab4f29f915da45d

Response Measures

None

Description

Articles span different years: 1911 takeover of a failed local bank and a 1933 suspension with stockholders planning reopening; reasons for 1933 suspension are not specified.

Events (3)
1. March 30, 1911 Other
Newspaper Excerpt
First National Bank of Bristol took over the business of the Citizens' Bank, which had gone into receiver's hands, and will pay depositors under arrangements and indemnity bonds.
Source
newspapers
2. April 20, 1911 Other
Newspaper Excerpt
First National of Bristol takes charge of the assets of the closed institution and assumes the liabilities to depositors; receiver will be dismissed.
Source
newspapers
3. June 14, 1933 Suspension
Cause Details
Bank is described as suspended; specific cause for suspension not provided in article.
Newspaper Excerpt
Consider of suspended bank ... First National stockholders held meeting ... optimistic prospects toward reopening the bank an early
Source
newspapers

Newspaper Articles (4)
1. March 30, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, March 30, 1911

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Article Text

BRISTOL BANKS AGREE ON MERGER Deal Will Save Depositors of One Institution Costly Litigation. [Special to The Times-Dispatch.1 Bristol, Va., March 20.-Depositors having deposits aggregating $375,000 were spared the expense of long and costly litigation this afternoon, when by an agreement between the directors of the First National Bank of Bristol, and those of the Citizens' Bank of Bristol, the business of the Citizens' Bank. now in receiver's hands, was merged with the First National This bank will be ready to pay depositors of the Citizens' Bank and they may demand, within ten days. The directors of the First National Inquired carefully into the assets of the closed bank, and besides being convinced that they were satisfactory within themselves. as a precautionary measure required and received an indemnity bond of $80,000 from the directors of the Citizens' Bank. The deal gives the utmost satisfaction to the business community, and removes any danger of a financial panic.

2. March 30, 1911 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, March 30, 1911

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Article Text

TAKES CARE OF ALL DEPOSITORS BRISTOL VA., March 30.-The First National Bank, of Bristol, Wednesday took over the business of the Citizen's Bank, of Bristol, which yesterday went into the hands of receivers. The Citizens held $875,000 in deposits. The First National Bank announces that it will be prepared to pay deposits of the citizens P.S. they demand within ten days.

3. April 21, 1911 The Times Dispatch Richmond, VA
Article from The Times Dispatch, April 21, 1911

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Article Text

BANK DEAL RATIFIED. First National of Bristol Takes Over Assets of Closed Institution. [Special to The Times-Dispatch.] Bristol, Va., April 20.-The stockholders of the Citizens' Bank of Bristol, which institution closed its doors recently, and went into the hands of a receiver, to-day ratified a deal whereby the First National Bank of Bristol takes charge of the assets of the closed bank, and assumes the liabilities to depositors. The directors of the First National concurred in the arrangement this evening, and will to-morrow begin paying deposits of the closed bank, amounting to $375,000. The receiver will be dismissed. In order to consummate this deal, eight officers and directors of the closed bank gave an indemnity bond of $50,000. and pledged a cash bonus of $30,000 additional. The deal relieves what threatened to be a serious situation for banking institutions here.

4. June 14, 1933 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, June 14, 1933

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Article Text

CONSIDER OF SUSPENDED BANK Bristol. June 14 meeting of the the First National stockholders held Monday. of meeting largely attended of of being shares represented. Reports officials showing progress made the necreopening the bank essary for said to be gratifying One of quirements to repay rowed order carry for rowers during the and great sacrifice on the part the borwas pointed that nas collected and that great many have been made for loans, and many more follow to notes held by the idly in order pay bank. sentiment of the meeting was optimistic prospects for colthe future, and was felt toward reopening the bank an early The meeting adjourned to July 10, when further reports will be made.