Circleville Bank (Circleville, WV)

Episode Information

Episode UID
69041671584
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
6904167 routing
Routing Number
69-0416
Start Date
December 1, 1931*
Location
Circleville, West Virginia (38.671, -79.491)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
322bdd88b8c1bab2

Response Measures

None

Description

Receivership placed Mar 26, 1932; banks had closed in December 1931 after heavy withdrawals.

Events (4)
1. December 1, 1931* Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals depleted reserves leading to closure in December 1931.
Newspaper Excerpt
all of which were closed some months ago due to heavy withdrawals
Source
newspapers
2. December 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Depleted reserves forced the banks to close (suspend payments) in December 1931.
Newspaper Excerpt
The banks were closed last December because of depleted reserves.
Source
newspapers
3. March 26, 1932 Receivership
Newspaper Excerpt
Administration of the three closed banks of this county-Circleville Bank...has been placed in the hands of C. E. Lawhead of Clarksburg, receiver for closed banks in the northern part of the State.
Source
newspapers
4. October 7, 1932 Other
Newspaper Excerpt
All creditors and depositors...whose accounts are less than $5...will be paid in full, it was announced by R. A. Tabler, assistant receiver, speaking for all three banks.
Source
newspapers

Newspaper Articles (2)
1. March 26, 1932 Evening Star Washington, DC
Article from Evening Star, March 26, 1932

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Article Text

CLOSED BANK RECEIVER ACTS IN WEST VIRGINIA Special Dispatch to The Star. FRANKLIN, W. Va., March 26.-Administration of the three closed banks of this county-Circleville Bank, Franklin Bank and Farmers' Bank of Pendleton County, the only three banks which the county had and all of which were closed some months ago due to heavy withdrawals-has been placed in the hands of C. E. Lawhead of Clarksburg, receiver for closed banks in the northern part of the State. Business will be handled through Farmers' Bank of Pendleton, to which all records have been brought. R. A. Tabler of Madison has been placed in active charge of affairs. Information was received today that State police had gone from Charleston to Libby, Mont., to bring back Irving Ritchie, former cashier of the closed Farmers' Bank of Pendleton, who was indicted here on nine counts by the grand jury, charging embezzlement and misappropriation of funds. He was arrested in Libby 10 days ago and released there under bond pending action by West Virginia authorities.

2. October 17, 1932 Evening Star Washington, DC
Article from Evening Star, October 17, 1932

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Article Text

WEST VIRGINIA BANKS WILL PAY DEPOSITORS Special Dispatch to The Star. FRANKLIN, W. Va., October 7.-All creditors and depositors of Farmers' Bank of Pendleton and Franklin Bank, located here, and Circleville Bank at Circleville, this county. whose accounts are less than $5 in either of the three banks will be paid in full, it was announced by R. A. Tabler, assistant receiver, speaking for all three banks. The banks were closed last December because of depleted reserves. Payments are being made through the officers of Farmers' Bank of Pendleton, here.