Article Text
Brinkley Is Appointed Community Bank Receiver Harry A. Brinkley was appointed receiver for the Community Savings Bank of Portsmouth in an order entered by Judge K. A. Bain in the Court of Hustings today. He took charge of the bank's accounts and assets after executing a bond for $25,000. The order followed, it is understood, an investigation of the bank's affairs by M. E. Bristow, chief examiner of banks of Virginia. Mr. Bristow formally made the transfer of the bank's effects to the receiver today. The receivership order directs that negotiations be entered into with a view of transferring the business of the defunct bank to some other banking organization, the direction to the receiver being as follows: "It being suggested to the court that there is the possibility of the organization of another bank to take over the assets of the Community Savings Bank, or that there is a possibility that some other bank may be willing to take over and operate it as a branch, the receiver is authorized and directed to enter into negotiations, subject to the approval of the court, with such new or other bank, for the purpose of ascertaining whether or not any arrangement can be made whereby such new bank, or other bank, will take over the business of the Community Savings Bank, so as to shorten the duration of the receivership and minimize the expenses incident thereto."