Whitley National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9634
Charter Number: 9634
Start Date: July 1, 1932*
Location: Corbin, Kentucky (36.949, -84.097)

Metadata

Model: gpt-5-mini
Short Digest: 292d5762

Response Measures

None

Receivership Details

Depositor recovery rate: 70.5%
Date receivership started: 1932-07-18
Date receivership terminated: 1938-05-10
Share of assets assessed as good: 45.3%
Share of assets assessed as doubtful: 53.9%
Share of assets assessed as worthless: 0.8%

Description

Newspaper articles from July 19-20, 1932 report that Whitley National Bank at Corbin 'recently closed' and that White F. Varden was appointed national bank receiver. No run or depositor panic is mentioned. Classified as a suspension followed by permanent closure/receivership (government action).

Events (4)

1. January 8, 1910 Chartered

Source: historical_nic

2. July 1, 1932* Receivership

Newspaper Excerpt: White F. Varden ... has been appointed receiver of the Whitley National Bank at Corbin. Mr. Varden will be in charge of both banks and will continue to be assisted by T. J. Pickett.
Source: newspapers

3. July 1, 1932* Suspension

Cause: Government Action
Cause Details: Bank recently closed and a national bank receiver was appointed (government receivership).
Newspaper Excerpt: has been made receiver of the Whitley National Bank at Corbin. ... the receivership of the Whitley National Bank at Corbin which recently closed.
Source: newspapers

4. July 18, 1932 Receivership

Source: historical_nic

Newspaper Articles (3)

1. July 19, 1932 The Public Ledger Maysville, KY

Article from The Public Ledger, July 19, 1932

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Article Text

Appointed Receiver Of Third Bank In 18 Months White F. Varden. of this city, national bank receiver, recently in charge of the First National Bank at Newport, Tenn., and since appointed to take charge of the Bell National Bank at Pineville, has been appointed receiver of the Whitley National Bank at Corbin. Mr. Varden will be in charge of both banks and will continue to be assisted by T. J. Pickett, formerly of this city Both have been appointed to three different receiverships within a. period of eighteen months which will bespeak their ability to handle receiverships under government control. Mrs. White F. Varden and daughter, Miss Mildred Varden, have returned from a visit in Pineville with Mr. Varden.

2. July 20, 1932 The Daily Bulletin Maysville, KY

Article from The Daily Bulletin, July 20, 1932

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Article Text

White Varden Named Receiver White F. Varden, of this city, national bank receiver, recently placed in charge of the First National Bank at Newport, Tenn., and later named to direct the affairs of the Bell National Bank at Pineville, has been made receiver of the Whitley National Bank at Corbin. Mr. Varden will handle the affairs of both banks and will continue to be assisted by T. J. Pickett, formerly of Maysville.

3. July 20, 1932 The Daily Independent Maysville, KY

Article from The Daily Independent, July 20, 1932

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Article Text

Add Another Bank To Varden's Duties The services of Mr. White F. Varden, who has been serving as national bank receiver in looking after the affairs of the Bell National Bank at Pineville, Ky., has had added to his duties the receivership of the Whitley National Bank at Corbin which recently closed. He will be assisted by Mr T. J. Pickett, formerly of this city. Before going to Pineville Mr. Varden had charge of the First National Bank at Newport, Tenn. Watch your dollars. Safety first, interest second you get both when you put your money in the Mason County Building Association. Phone 20 for 10 shares. It will cost you $2.50 a week and In 1989 you get