Wilcox National Bank (Wilcox, PA)

View Charter #12933 on SPMC View balance sheet

Episode Information

Episode UID
1293301582
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
129330 national
Charter Number
12933
Start Date
October 15, 1931
Location
Wilcox, Pennsylvania (41.576, -78.688)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d1eb3ac133861720

Response Measures

None

Receivership Details

Depositor recovery rate
93.0%
Date receivership started
1931-10-27
Date receivership terminated
1936-10-20
OCC cause of failure
Economic conditions
Share of assets assessed as good
21.0%
Share of assets assessed as doubtful
79.0%

Description

Article states bank closed Oct 15, 1931 and a national bank receiver was placed in charge; this slightly differs from the provided known receivership date.

Events (4)
1. May 26, 1926 Chartered
Source
historical_nic
2. October 15, 1931 Receivership
Newspaper Excerpt
The Wilcox bank ... was closed on October 15, 1931, and Mr. Lensing was placed in charge of its affairs.
Source
newspapers
3. October 15, 1931 Suspension
Cause
Government Action
Cause Details
Bank was closed and a national bank receiver (F. W. Lensing) was placed in charge by federal authorities.
Newspaper Excerpt
The Wilcox bank, the only one in the neighboring village, was closed on October 15, 1931, and Mr. Lensing was placed in charge of its affairs.
Source
newspapers
4. October 27, 1931 Receivership
Source
historical_nic

Newspaper Articles (5)
1. November 1, 1933 The Kane Republican Kane, PA

Article Text

WILCOX DEPOSITORS TO GET 13 PERCENT MORE The fourth dividend checks of 13 percent are ready for distribution to depositors of the closed Wilcox National bank at Wilcox, it was announced today by F. W. Lensing, national bank receiver. Including this payment, depositors have received $192,938.04 in dividends or an aggregate of 83 percent of the amount due them. The Wilcox bank, the only one in the neighboring village, was closed on October 15, 1931, and Mr. Lensing was placed in charge of its affairs. Lensing stated today that out-oftown depositors should forward their receiver's certificates to him at his address in Warren, together with the proper receipt, following which dividend checks will be mailed. The time future dividends are pay. able and the amount depends entirely on how promptly the debtors of the Wilcox bank pay their obligations to the receiver, Lensing said.

2. August 16, 1934 Warren Times Mirror Warren, PA

Article Text

BANK RECEIVER LOCATED HERE QUITTING POST F. Wm. Lensing, National Bank Receiver, in charge of the Citizens National Bank, Warren, Wilcox National Bank, Wilcox, First National Bank of Brockway, and the First National Bank of Youngsville, who has been in charge of these banks since the inception of the several receiverships, has resigned as Receiver. At June 30, 1934, the Statement of Condition of the Warren receivership indicates that dividends aggregating 59 per cent or $511,250.22 was paid to depositors and cash in the amount of $48,019.51 is available for future dividends. The remaining uncollected assets aggregate a total of $607,376.27. At June 30, 1934, the Statement of Condition of the Wilcox receivership indicates that dividends aggregating 83 per cent or $193,331.46 was paid to depositors and cash in the amount of $12,963.37 is available for future dividends. The remaining uncollected assets aggregate a total of $29,043.47. Lensing was appointed Receiver of the Brockway and Youngsville receiverships for the purpose of collecting stock assessments. Since coming to Warren Mr. Lensing and his family have made a host of friends who join in the general expression of regret that is heard over the announcement. Mr. Lensing has made an enviable record in the handling of the affairs of the banks, his achievements being a credit to himself and those who were responsible for his coming to Warren.

3. August 16, 1934 Warren Times Mirror Warren, PA

Article Text

F. Wm. Lensing, National Bank Receiver, in charge of the Citizens National Bank, Warren, Wilcox National Bank, Wilcox, First National Bank of Brockway, and the First National Bank of Youngsville, who has been in charge of these banks since the inception of the several receiverships, has resigned as Receiver. At June 30, 1934, the Statement of Condition of the Warren receivership indicates that dividends aggregating 59 per cent or $511,250.22 was paid to depositors and cash in the amount of $48,019.51 is available for future dividends. The remaining uncollected assets aggregate a total of $607,376.27. At June 30, 1934, the Statement of Condition of the Wilcox receivership indicates that dividends aggregating 83 per cent or $193,331.46 was paid to depositors and cash in the amount of $12,963.37 is available for future dividends. The remaining uncollected assets aggregate a total of $29,043.47. Lensing was appointed Receiver of the Brockway and Youngsville receiverships for the purpose of collecting stock assessments. Since coming to Warren Mr. Lensing and his family have made a host of friends who join in the general expression of regret that is heard over the announcement. Mr. Lensing has made an enviable record in the handling of the affairs of the banks, his achievements being a credit to himself and those who were responsible for his coming to Warren.

4. August 17, 1934 The Kane Republican Kane, PA

Article Text

LENSING RESIGNS AS BANK RECEIVER F. William Lensing, national bank receiver in charge of the Citizens Na tional bank. Warren: Wilcox National bank, Wileox: First National bank, of Brockway, First National bank in Brockway and the First National bank of Youngsville, who has been Its charge of these banks since inception of the several receiverships, has re signed as receiver. At June 30, 1934, the statement of condition of Warren receivership indi cates that dividends aggregating 59 per cent, or $511,250.22 was paid to depositors and cash in the amount of $48,019.51 is available for future dividends. The remaining uncollected as sets aggregate total of $607,376.27. At June 30, 1934, the statement of condition of the Wilcox receivership indicates that dividends aggregating 83 per cent or $193,331 46, were paid to depositors and cash in the amount of $12,963.37 is available for future dividends. The remaining uncollected assets aggregate total of $29,043.47 Lensing was appointed receiver of the Brockway and Youngsville receiverships for the purpose of collecting stock assessments. Lensing was connected with the in solvent division of the office of the comptroller of the currency for eleven years, and during that time liquidated banks in Texas, Arkansas and Illinois, in addition to the Pennsylvania receiverships.

5. August 18, 1934 Pittsburgh Post-Gazette Pittsburgh, PA

Article Text

Resigns as Receiver WARREN, Aug. William Lensing, national bank receiver, charge of the Citizens National Bank, Warren; Wilcox National Bank, Wilcox; First National Bank of Brockway, First National Bank in Brockway and First National Bank of Youngsville, who been charge of these banks since the inception of the several receiverships, has resigned as receiver.