Citizens National Bank - Richmond, KY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 7653
Charter Number: 7653
Start Date: June 1, 1933*
Location: Richmond, Kentucky (37.748, -84.295)

Metadata

Model: gpt-5-mini
Short Digest: e8ef7b6e

Response Measures

None

Receivership Details

Depositor recovery rate: 99.0%
Date receivership started: 1933-06-26
Date receivership terminated: 1940-03-30
Share of assets assessed as good: 19.5%
Share of assets assessed as doubtful: 61.9%
Share of assets assessed as worthless: 18.6%

Description

OCR errors corrected (e.g., ceiver -> receiver; dates in June 1933). Article states the bank was closed for examination during the banking holiday and never resumed operations; receiver (J. P. Chenault) was appointed by the national comptroller. No explicit run is mentioned.

Events (4)

1. March 21, 1905 Chartered

Source: historical_nic

2. June 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed for examination during the state and national banking holiday and placed under a special representative of the comptroller; never received instructions to resume.
Newspaper Excerpt: The Citizens National bank was closed June for examination and was placed in the hands of Paul Enrow, special representative of the comptroller. The bank closed for the state and national banking holiday and never received instructions for resumption of unrestricted operations
Source: newspapers

3. June 26, 1933 Receivership

Source: historical_nic

4. June 27, 1933 Receivership

Newspaper Excerpt: Notice of his appointment as receiver for the Citizens National bank of this city was received by J. P. Chenault, Richmond attorney, this afternoon by telegraph from the national comptroller of the currency in Washington. Mr. Chenault will liquidate Richmond bank.
Source: newspapers

Newspaper Articles (1)

1. June 27, 1933 The Lexington Herald Lexington, KY

Article from The Lexington Herald, June 27, 1933

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Article Text

RECEIVER NAMED J. P. Chenault Will Liquidate Richmond Bank [Special to The Herald] RICHMOND, Ky., June Notice of his appointment as ceiver for the Citizens National bank of this city was received by P. Chenault, Richmond attorney, this afternoon by telegraph from the national comptroller of the cur. rency in Washington. Mr. Chenault has yet received no detailed instructions concerning the liquidation of the bank. The Citizens National bank was closed June for examination and was placed in the hands of Paul Enrow, special representative of the camptroller. The bank closed for the state and national banking hollday and never reecived instructions for resumption of unrestricted operations, being operated on the cent basis from the time of the banking holiday until the closing June The failure is said to be the first the history of Madison county. THE Deposits in the bank January were about $500,000.