Hagerstown Bank - Hagerstown, MD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 4, 1933
Location: Hagerstown, Maryland (39.642, -77.720)

Metadata

Model: gpt-5-mini
Short Digest: c9187d4a

Response Measures

None

Description

Articles indicate the Hagerstown Bank & Trust Company was taken into custody by the State Bank Commissioner on March 4, 1933, placed in conservatorship and liquidation (July 1933), and remained in receivership thereafter (receiver named/continued in December 1934). Later articles (1935) describe sale of the bank building and a partial distribution to depositors. No article describes a depositor run; the closure was effected by regulators/receivership.

Events (4)

1. March 4, 1933 Receivership

Newspaper Excerpt: Mr. Ghingher took custody of the bank on March 4, 1933. ... Judge Frank G. Wagaman passed an order naming and continuing John J. Ghingher, Bank Commissioner for the State of Maryland, as receiver for the Hagerstown Bank and Trust Company.
Source: newspapers

2. July 1, 1933* Suspension

Cause: Government Action
Cause Details: Placed in conservatorship and liquidation by the state (Bank Commissioner took custody March 4, 1933).
Newspaper Excerpt: since July of that year the bank has been in liquidation under R conservatorship.
Source: newspapers

3. September 7, 1935 Other

Newspaper Excerpt: The receiver for the Hagerstown Bank and Trust Co. today announced the sale of the Hagerstown Bank Building on the main business block of Washington street for $100,000.
Source: newspapers

4. December 19, 1935 Other

Newspaper Excerpt: Santa Claus, in the guise of receivers of the Hagerstown Bank & Trust Company, is filling some 8,000 depositors' stockings with a 10 per cent payment on deposits carried by the bank when it failed several years ago.
Source: newspapers

Newspaper Articles (3)

1. December 4, 1934 The Daily Mail Hagerstown, MD

Article from The Daily Mail, December 4, 1934

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Article Text

Ghingher Is Named As Bank Receiver Yesterday afternoon Judge Frank G. Wagaman passed an order naming and continuing John J. Ghingher, Bank Commissioner for the State of Maryland, as receiver for the Hagerstown Bank and Trust Company. Mr. Ghingher took custody of the bank on March 4, 1933. and since July of that year the bank has been in liquidation under R conservatorship. No change has been made in the personnel. but liquidation will now proceed under the jurisdiction of the Circuit Court.

2. September 7, 1935 Evening Star Washington, DC

Article from Evening Star, September 7, 1935

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Article Text

BANK BUILDING SOLD Hagerstown Property Purchase Price of $100,000 Is Revealed. HAGERSTOWN, Md., September , (P).-The receiver for the Hagerstown Bank and Trust Co. today announced the sale of the Hagerstown Bank Building on the main business block of Washington street for $100,000. The purchaser is said to be Charles J. Hoover of Chicago, representing a large Chicago firm. A modern store building will be erected on the site, it is understood. The bank building is one of the oldest structures in Hagerstown.

3. December 19, 1935 The Washington Times Washington, DC

Article from The Washington Times, December 19, 1935

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Article Text

$317,000 YULE GIFT MADE HAGERSTOWN. Md.. Dec. 19. Santa Claus, in the guise of receivers of the Hagerstown Bank & Trust Company. is filling some 8,000 depositors' stockings with a 10 per cent payment on deposits carried by the bank when it failed several years ago. The checks total $317,000. The distribution is expected to boost Christmas sales during the next few days. Santa Claus also was active at Smithburg, where the receivers of the Peoples Bank of Smithsburg will receive checks tomorrow for $18,000, which represents a 5 per cent distribution to depositors.