First National Bank (Port Norris, NJ)

View Charter #10036 on SPMC View balance sheet

Episode Information

Episode UID
1003601606
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
100360 national
Charter Number
10036
Start Date
October 31, 1933
Location
Port Norris, New Jersey (39.246, -75.035)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
205d83351936fa74

Response Measures

None

Receivership Details

Depositor recovery rate
23.4%
Date receivership started
1933-10-31
Date receivership terminated
1940-05-16
Share of assets assessed as good
69.2%
Share of assets assessed as doubtful
26.6%
Share of assets assessed as worthless
4.2%

Description

Bank was placed in receivership (closed); RFC later authorized a loan to the receiver in July 1934.

Events (4)
1. June 17, 1911 Chartered
Source
historical_nic
2. October 31, 1933 Receivership
Source
historical_nic
3. October 31, 1933 Receivership
Newspaper Excerpt
has been appointed receiver for the First ... Bank, Port Norris; Mr. Corson was ... named receiver for the First National Bank, Port Norris.
Source
newspapers
4. July 1, 1934* Other
Newspaper Excerpt
The First National Bank of Port Norris, receiver, $50,000 (RFC authorized loan).
Source
newspapers

Newspaper Articles (5)
1. November 24, 1933 The News of Cumberland County Bridgeton, NJ

Article Text

BANK RECEIVER Russell C. Corson, Millville, Named to Succeed Surrogate Frank E. Hoagland. Millville, November formerly cashier Millville Mechanics National Bank Trust Company, has been pointed receiver for the First tional Bank, Port Norris, and this afternoon will succeed in this pacity Frank Hoagland, who elected Surrogate Cumberland County the general election already been sworn into office. Mr. Corson was the secretary and urer the Millville Trust Com. before merging with the Mechanics Bank. Appointment Mr. Corson was the Currency Ray O'Connor, Washington, information to this effect reaching Corson last night. succeeds Mr. Hoagland afternoon, the latter severing connection bank closing time Surrogate Hoagland tomorhis full-time duties the office of the Surrogate courthouse tomorrow. Mr. Hoagland formerly the BridgeNational Bank, leaving countyseat some time since take place cashier the Millville Mechanics National Bank, Millville. Later moved back Asked the office Surrogate Hoagland said ready make along this line He admitted he had been asked this question good many people said he had made statement regard to this and was not ready to do SO this time.

2. September 24, 1934 The Central New Jersey Home News New Brunswick, NJ

Article Text

JERSEY BANKS Can't You Just Hear the Wedding Bells? NEW LOANED $481,000 Hightstown Trust Company Among Those to Sell Stock to RFC By The Associated Press WASHINGTON, Sept. 24.-The Reconstruction Finance Corporation announced today that for the month of July, 1934, it authorized loans totaling $481,000 to banks and trust companies in New Jersey. The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator, $360,000; The Pleasantville National Bank receiver. $35,000; The First National Bank of Port Norris, receiver, $50,000. and the Westmont National Bank, receiver, $16,000. A loan of $22,500 also was authorized to the Manufacturers Loan Company of Jersey City, no part of which had been disbursed up to the end of the month The corporation during the month authorized subscriptions for preferred stock in 12 New Jersey institutions, none of which had been disbursed up to July 31 They follow: The Dover Trust Company $175,000; The Gloucester City Trust Company, $60,000 The Haddonfield National Bank, $200,000: Hights town Trust Company, $50,000; The First National Bank of Marlton. $15,000; The Penn's Grove National Bank and Trust Company, $50,000; Plainfield Trust Company, $750,000; Princeton Bank and Trust Company, $300,000; South Orange Trust Company, $75,000; The First National Bank of Springfield, $25,000; The Swedesboro National Bank, $50,000. and the Tenafly Trust Company, $100,000.

3. September 24, 1934 The Record Hackensack, NJ

Article Text

JERSEY BANKS TO GET R. C. FUNDS Tenafly Institution Among Those Receiving Federal Grants Associated ReconARE You struction Corporation announced that for the of July 1934. loans totaling banks and trusts companies New Jersey The following loans were author- Fully ized, part which had been bursed July The First National Bank Columbus, receiver $20,000 the First National Bank Protected? the Pleasantville National Bank. ceiver, $35,000 the First National Bank Port Norris, receiver $50,000 and the Westmont National Bank, reIF that fire should also was authorized the Loan occurCompany of Jersey City, no part of

4. September 25, 1934 Press of Atlantic City Atlantic City, NJ

Article Text

2 Pl'ville Banks GetR.F.C.Loans Allot $360,000 to First National and $35,000 for Pleasantville National WASHINGTON Sept. 24 (AP).The Reconstruction Finance Corporation announced today that for the month of July, 1924, it authorized loans totaling banks and trusts companies in New Jersey The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator $360,000; the Pleasontville National Bank, receiver, $35,000; The First National Bank of Port Norris, receiver. $50,000, and the Westmont National Bank, receiver, $16,000. loan of $22,500 also was authorized to the Manufacturers' Loan Company, of Jersey City, no part of which had been disbursed up to the end of the month. The during the month authorized subscriptions for preferred stock in 12 New Jersey institutions, none of which had been disbursed up to July 31. They follow The Dover Trust Company $175,000; The Gloucester City Trust Company, $60,000; the Haddonfield National Bank, $200,000; Hightstown Trust Company, $50,000; The First National Bank of Marlton, $15,000; The Pennsgrove National Bank and Trust Company, $50,000; Plainfield Trust Company, $750,000; Princeton Bank and Trust Company, $300,000; South Orange Trust Company. $75,000; The First National Atlantic City Hotels

5. September 25, 1934 Press of Atlantic City Atlantic City, NJ

Article Text

2 Pl'ville Banks Get R.F.C. Loans Allot $360,000 to First National and $35,000 for Pleasantville National WASHINGTON Sept. 24 (AP). — The Reconstruction Finance Corporation announced today that for the month of July, 1924, it authorized loans totaling $481,000 to banks and trusts companies in New Jersey. The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator, $360,000; the Pleasantville National Bank, receiver, $35,000; The First National Bank of Port Norris, receiver, $50,000, and the Westmont National Bank, receiver, $16,000. charged with aiding in the jail break of Timothy Large; Frank Patroni and James Totoro, breaking and entering, and George Johnson, assault and battery. * * * Auto Thieves Get Two Years Anthony Mantini, one of five defendants charged with grand larceny following a robbery at Buena Vista, where a factory was burglarized, was released on his own recognizance pending the apprehension of the others named as defendants. All the men reside in Camden. Leonard Wilson and Henry Trott, charged with the larceny of an automobile, the property of Harry Barstow, were given from two to four years in State's prison. Both men, intoxicated, were found sitting in Barstow's car, which was parked on the Brigantine boulevard. They disclaimed all knowledge of the larceny, declaring they had accepted a ride in the machine. Carroll and James Jackson brothers, likewise charged with the larceny of an automobile, the property of Neil Deighan, of West Collingswood, were sentenced to Rahway and Jamesburg, respectively. They were apprehended a mile from Deighan's car, which a garageman had watched them vacate on the White Horse pike. A suspended sentence of one to three years was given Frank Scholler, who had been charged with breaking and entering the residence of Mrs. Yolanda Ferrara, at 19 S. St. David's pl., and Mrs. Pauline Schaefer, at 105 S. Dover av. At the latter address the defendant stole jewelry valued at $85. He was ordered to report by letter to the office of the probation officers from a Philadelphia address. * * * Many Enter Pleas The following entered pleas of not guilty in quarter sessions: Edith I.