Peoples National Bank (Delmont, PA)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
June 18, 1931
Location
Delmont, Pennsylvania (40.413, -79.570)
Bank Type
national
Charter Number
9996

Metadata

Receivership Details

Depositor recovery rate
65.9%
Date receivership started
1931-06-18
Date receivership terminated
1938-09-30
Share of assets assessed as good
40.9%
Share of assets assessed as doubtful
55.5%
Share of assets assessed as worthless
3.6%

Events (3)

1. April 21, 1911 Chartered
Source
historical_nic
2. June 18, 1931 Receivership
Newspaper Excerpt
Tax money on deposit in the Peoples National Bank of Delmont, Pa., when it closed its doors. Saul asked that the court issue an order directing Frank D. Neale, bank receiver, to list the claim as preferred and either make adjustment or pay it before other creditors are paid.
Source
newspapers
3. June 18, 1931 Receivership
Source
historical_nic

Newspaper Articles (2)

Article Text

Tax Collector Asks Adjustment

Pittsburgh, Sept. 10.-(U.P)- D. L. Saul, tax collector for Salem township, Westmoreland county, filed suit in Federal court today for adjustment or recovery of $17,124 in tax money on deposit in the Peoples National Bank of Delmont, Pa., when it closed its doors. Saul asked that the court issue an order directing Frank D. Neale, bank receiver, to list the claim as preferred and either make adjustment or pay it before other creditors are paid.


Article Text

A dividend of 13 per cent to depositors of the First National Bank of Trafford, bringing payments of the institution to 43 per cent, was announced today by Thomas J. Donahoe, bank receiver.

Donahoe said the latest payment amounted to $57,182.24. To date the bank has made available $189,162.29 for depositors, he reported. More than 3,500 claims were filed with Donahoe.

About 15 per cent of depositors of four banks for which he is receiver have neglected to present claims for dividends, Donahoe announced. They are the First National Bank of Trafford, Peoples National Bank of Pitcairn, First National Bank of Pitcairn and Peoples National Bank of Delmont.