8524. First National Bank (Grantsville, MD)

View Charter #5943 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5943
Charter Number
5943
Start Date
January 1, 1933*
Location
Grantsville, Maryland (39.695, -79.151)

Metadata

Model
gpt-5-mini
Short Digest
499c23f3

Response Measures

None

Receivership Details

Depositor recovery rate
68.3%
Date receivership started
1933-10-25
Date receivership terminated
1938-03-23
Share of assets assessed as good
29.6%
Share of assets assessed as doubtful
63.8%
Share of assets assessed as worthless
6.6%

Description

The bank was closed and placed in receivership (receiver R. E. Sliger, later Thomas B. Finan). Multiple dividend payments to depositors over 1934–1938 indicate an ongoing receivership and final liquidation; no article describes a depositor run as the cause. Receiver appointment is said to have occurred in 1933 (Article 7).

Events (9)
1. August 20, 1901 Chartered
Source
historical_nic
2. January 1, 1933* Suspension
Cause Details
Articles do not specify a run or particular cause for suspension; only that the bank is closed and a receiver appointed in 1933.
Newspaper Excerpt
He went to Grantsville in 1933 as receiver for the First National Bank there.
Source
newspapers
3. October 25, 1933 Receivership
Source
historical_nic
4. December 13, 1934 Receivership
Newspaper Excerpt
A second dividend of 12½ per cent will be paid to deposits of the First National Bank of Grantsville, according to an announcement of R. E. Sliger, receiver.
Source
newspapers
5. December 19, 1935 Receivership
Newspaper Excerpt
R. E. Sliger, receiver for the First National Bank of Grantsville, also announced that checks for a third dividend of five percent were ready for mailing to those depositors who had proved their claims.
Source
newspapers
6. January 14, 1937 Receivership
Newspaper Excerpt
The Pittsburgh bank has been appointed receiver for the First National Bank of Grantsville, succeeding R. E. Sliger, who has been in charge here for the past three years. All business will be transacted at Mr. Finan's headquarters in the First National Bank building at Frostburg.
Source
newspapers
7. September 23, 1937 Receivership
Newspaper Excerpt
A dividend of eight per cent will be paid to all depositors of the First National Bank of Grantsville, who have filed claims, it was announced by the receiver, Thomas B. Finan.
Source
newspapers
8. March 10, 1938 Receivership
Newspaper Excerpt
Thomas B. Finan, receiver for the closed First National Bank of Grantsville, announced Monday that checks are ready for the fifth and final dividend of 5.35 per cent.
Source
newspapers
9. January 25, 1939 Other
Newspaper Excerpt
He resided at Cumberland for a short time and went to Grantsville in 1933 as receiver for the First National Bank there. He was forced to give up this position three years later because of ill health.
Source
newspapers

Newspaper Articles (7)
1. December 13, 1934 The Republican Oakland, MD
Article from The Republican, December 13, 1934

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Article Text

Grantsville Bank Pays Second Dividend to Depositors A second dividend of 12½ per cent will be paid to deposits of the First National Bank of Grantsville, according to an announcement of R. E. Sliger, receiver. All depositors must prove their claims. The checks are now at the bank and ready for delivery. Depositors must present their receiver's certificate to have the amount credited before receiving the checks, and depositors are asked to call in person for their checks, if possible, SC that a receipt may be given. The first dividend declared was 37½ percent, and with the additional grant now available, depositors will have received 50 percent of their funds.

2. December 19, 1935 The Republican Oakland, MD
Article from The Republican, December 19, 1935

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Article Text

First National of Grantsville Paying Third Dividend R. E. Sliger, receiver for the First National Bank of Grantsville, also announced that checks for a third dividend of five percent were ready for mailing to those depositors who had proved their claims. The amount of the dividend is approximately $18,000, and the third dividend makes a total of 55 percent that has been paid to depositors.

3. January 14, 1937 The Republican Oakland, MD
Article from The Republican, January 14, 1937

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Article Text

GRANTSVILLE Community Club Meets Mrs. Roy C. Patton was hostess to the Women's Community Club members last Wednesday afternoon. Miss Mildred Barton, Home Demonstration Agent, lectured on "arrangement of dining unit in kitchen and units in living room." Roll call was "Family needs not satisfied by my home furnishings." The recently elected officers were in charge with the exception of the president, Mrs. Fred. Livengood, whose absence was unavoidable. Mrs. W. Harold Miller, vice-president, presided. Others attending were Mrs. H. P. Miller and a friend from Salisbury, Pa.; Mrs. Jonas Beachy, Mrs. L. B. Schaefer, Mrs. Lee Beachy, Mrs. Richard Younkin, Mrs. J. U. Stanton, Mrs. W. C. Loechel, Mrs. Albert Swauger, Mrs. Frank P. Smith, Miss Ethel Broadwater, Miss Cora Hockman, Miss Jennie Stanton. The February meeting will be held at the home of Mrs. W. C. Loechel. Church Activities The Women's Missionary Society of St. John's Reformed church, which was scheduled to meet at the home of Mrs. Hobart Speicher Wednesday evening, was postponed until next Wednesday night. The meeting of the women of the Episcopal Guild at the Holmes-Wallace studios, which was scheduled for Tuesday evening, has been postponed until some time in February. At the annual congregational meeting of the Lutheran church, W. Harold Miller was re-elected elder and Edgar Michael was chosen as a deacon. At a recently held consistory meeting of the Reformed church, Rev. C. L. Bash, pastor, Fred. Livengood was elected vice-president and treasurer; Paul Kinsinger, secretary, and Harry Murray, financial secretary. The Reformed Sunday school has chosen the following as officers for the coming year: C. O. Bender, superintendent; Mrs. Hobart Speicher, assistant superintendent; John Beachy, secretary; Harold Setzer, assistant secretary; Fred. Livengood, treasurer. Union prayer services are being held this week in Grantsville. On Wednesday night in the Lutheran church, Rev. C. L. Bash, pastor of the Reformed church, brought the first message. In the Reformed church Thursday night, Rev. C. L. Allender, Methodist pastor, was the speaker. Rev. S. D. Sigler, pastor of the Lutheran church, will preach at the final service on Friday evening in the Methodist church. Services in the local churches for Sunday, January 17, will be as follows: Catholic, 10 a. m.; Lutheran, Sunday school, 9:45 a. m., worship service, 11:00 a. m.; Methodist, church school, 10:00 a.m.; Reformed, Sunday school, 1:30 p. m., worship service, 2:30 p. m.; C. E., at 7:00 p. m., in the Methodist church. Miss Grace Swauger was leader at the Christian Endeavor meeting Sunday night in the Methodist church. The topic was "Joseph." There was a Scripture reading; a duet, "Living for Jesus," by Mae Winter and Claudia Paul; stories and tellers as follows: "The Rich Man's Son Sold As a Slave," Sonny Patton; "From the Prison to the Palace," Mary Jane Beachy, and "How Joseph's Dream Came True"; quesdiscussion. and and answers tions Burns Truck Sugar-Ladened and the from nated the four half was with succeeded nesday transporting fire National of practically The Thomas the Receivership third company and of from miles seven Baltimore. just local fire the evening call Road was back B. Brownsville, west tons in is ruined. sugar, fire went the last Finan, unknown, saving burning. where of department of of of about sugar week to the but Grantsville sugar Bank The Negro receiver cab. a approximately when the to Pa., eight The but truck direct Changes had The Pittsburgh truck Mountain answered the and on it firemen for caught o'clock on loaded driver origi- cause Wed- First was was the the Bank National Citizens and of Bank National Froostburg, of Bank National First Midland, the has been appointed receiver for the First National Bank of Grantsville, succeeding R. E. Sliger, who has been in charge here for the past three years. All business will be transacted at Mr. Finan's headquarters in the First National Bank building at Frostburg. Mr. and Mrs. Sliger will probably reside at Frostburg with the possibility of Mr. Sliger's associating himself with Mr. Finan at that place. Social Events Mr. and Mrs. Joseph, Steinburg entertained at a spaghetti dinner Dr. and Mrs. T. O. Broadwater, Mr. and Mrs. Hayward F. Broadwater, and Mr. and Mrs. John Baumgartner.

4. June 24, 1937 The Republican Oakland, MD
Article from The Republican, June 24, 1937

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Article Text

Miss Christina Winterberg, Mrs. T. 0. Broadwater, and William Winterberg motored to Knoxville, Tenn., where they were guests of the latter's son and daughter-in-law, Dr. and Mrs. Samuel H. Winterberg, last week. Mr. and Mrs. Earl D. Connor and son, Byesville, Ohio, were at the Winterberg home during their absence. Mr. and Mrs. Pierre Kleff have gone to Baltimore where Mr. Kleff will be employed. While here, Mr. Kleff was connected with the Salisbury, Pa., CCC camp. Mrs. G. Kanner, Washington, D. C., visited Mr. and Mrs. J. U. Stanton last week. Miss Mary Ward, who was employed by the Resettlement Administration here, has resigned to take up employment in Cumberland. Mrs. Rexford Bittinger and children have returned from Meyersdale where they visited her parents, Mr. and Mrs. Edward Miller, for two weeks. Elwood Lee Bevans is visiting his grandparents at Akron, O. Mrs. Hunter Gooding, Wilmington, Del.; Mrs. Cornelius Bagenat, Mrs. B. B. Young, and Mrs. Jooseph Franklin, Cunmberland were Sunday guests of Misses Ethel and Viola Broadwater. Mr. and Mrs. Frank J. Getty visited his brother and sister-in-law, Mr. and Mrs. William D. Getty, Washington, D. C. Mrs. Stanton Funk and daughter, Johnstown, Pa., visited her parents, Mr. and Mrs. W. E. Stanton Sunday. Mrs. Mary Fahey, Cumberland, visited her son and daughter-in-law, Mr. and Mrs. Joseph F. Fahey. Mrs. Jennie Maxwell, Vernon, N. Y.; Mrs. Charles Emhoff, Deerfield, N. Y., and Miss Margaret Emhoff, Utica, N. Y., visited Mr. and Mrs. D. W. Hershberger. Mrs. Hershberger and children planned to return with her mother, Mrs. Maxwell, to Vernon, on Wednesday. Mr. and Mrs. Lawrence Jackson and children, of Baltimore, were guests of Mr. and Mrs. B. F. Epstein, Sunday. Mr. and Mrs. W. Day Mullinix, of Silver Spring, Md., visited friends here last week. Mr. Mullinix is a former principal of Grantsville high school and Mrs. Mullinix taugh home economics here at the same time. Mrs. Ray Goetz and sons returned to their home at Cumberland after visiting Mrs. Goetz's mother, Mrs. Etta V. Engle, who is ill at her home, Englewood. Mr. and Mrs. John Engle and son Ralph, of Fairmont, were here also over the week-end. Mrs. A. C. Stanton has accepted a position as private secretary to T. B. Finan at Frostburg. Mr. Finan is receiver of four banks, one of which is the First National of Grantsville. Mr. and Mrs. J. S. Messersmith, Colver, Pa., and Mrs. Hamilton and her daughter, Miss Eva Hamilton, of Philadelphia, were Sunday guests of Mrs. Lucretia Messersmith and Mrs. Joseph Livengood. Miss Ruth C. Keller has accepted employment by the Garrett County Welfare Board at Oakland. Miss Keller left on Tuesday to assume her duties. Mr. and Mrs. Harold Miller and Mrs. Albert Swauger visited Mr. and Mrs. Leroy Williams at St. Leonards, Md., last week. Mrs. Bernice Reffner, of Baltimore, is visiting at the home of her daughter, Mrs. Wendell Lohr. Mr. and Mrs. P. A. Connelly, Youngwood, Pa., visited Miss Gertrude Hone over the week-end.

5. September 23, 1937 The Republican Oakland, MD
Article from The Republican, September 23, 1937

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Article Text

Bank At Grantsville To Pay Fourth Dividend A dividend of eight per cent will be paid to all depositors of the First National Bank of Grantsville, who have filed claims, it was announced by the receiver, Thomas B. Finan. Payment is to be made at the First National Bank building in Frostburg. This is the fourth dividend, making a total of 63 per cent.

6. March 10, 1938 The Republican Oakland, MD
Article from The Republican, March 10, 1938

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Article Text

Grantsville Bank To Pay Final Dividend Thomas B. Finan, receiver for the closed First National Bank of Grantsville, announced Monday that checks are ready for the fifth and final dividend of 5.35 per cent. This will be paid to all depositors presenting a receiver's certificate at the office of the First National Bank at Frostburg before March 25, the deadline for receipt of the dividend. All checks unclaimed after March 25 will be returned to Washington.

7. January 26, 1939 The Republican Oakland, MD
Article from The Republican, January 26, 1939

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Article Text

RICHARD E. SLIGER, FORMER RESIDENT, DIED YESTERDAY Had Been An Invalid For a Number of Years at Grantsville Richard E. Sliger, a former cashier of the First National Bank in Oakland, and also engaged as an insurance broker, died at his home in Grantsville early Wednesday morning, January 25, following an illness of several years. About five years ago he suffered a stroke of paralysis, and while he recovered from this sufficiently to be able to be up and about, he never regained his health. Two weeks ago another stroke occurred and penumonia developed, causing his death. His remains will be brought to Oakland today and will be at the Bolden Funeral Home where services will be conducted on Friday afternoon at 3:00 o'clock with interment in the Episcopal churchyard. Rev. D. C. Trimble will officiate. Surviving are his widow, Mrs. Elizabeth Metheny Sliger, of Grantsville, and a son Robert Sliger, of Wheeling, West Va.; also by one sister, Mrs. John Lee, of California, and two brothers, George Sliger, of Westernport, and Harry Sliger, of Keyser. Mr. Sliger was a member of Oakland Lodge of Masons and a past master of the fraternity. The Masons will be in charge of the final rites at the interment. Mr. Sliger was born at Westernport, March/9, 1874, a son of Thorton J. and Mary E. (Murphy) Sliger. He attended public school at Westernport and spent four years at a military college, holding a commission his fourth year. He received his B.S. degree at the Maryland Agricultural College in 1895. June 13, 1899, he was married to Miss Elizabeth Matheny at Lonaconing. One son was born to them, Robert Sliger, of Wheeling, West Va. Mr. Sliger was well known throughout this section. He was a bookkeeper at the Davis National Bank, Piedmont, and at the Lonaconing Savings Bank, Lonaconing. In 1901 he came to the First National Bank of Oakland as cashier, which position he held for twenty years. He was also a representative of the Sun Life Assurance Co., of Canada, and in 1901, won first prize for representatives in the United States. He resigned his position at Oakland to become State Manager for this insurance company at Wheeling, W. Va. He resided at Cumberland for a short time and went to Grantsville in 1933 as receiever for the First National Bank there. He was forced to give up this position three years later because of ill health. Mr. Sliger also served as President of the Board of Education of Garrett county for six years. He was Chairman of the Garrett county First and Second Liberty Loans and Chairman of the same county the last two years of the war for the War Savings Movenment. He was a member of the Episcopal church at Oakland.