First National Bank - Bedford, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3089
Charter Number: 3089
Start Date: October 29, 1934
Location: Bedford, Pennsylvania (40.019, -78.504)

Metadata

Model: gpt-5-mini
Short Digest: 4ac778e1

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1934-10-26
Share of assets assessed as good: 47.9%
Share of assets assessed as doubtful: 35.9%
Share of assets assessed as worthless: 16.2%

Description

OCR errors in the article corrected. The article (Altoona Tribune, 1934-10-29) reports that Frank E. Lauder was named receiver for the First National (and Trust) at Bedford, indicating the bank was placed in receivership/closed. No mention of a prior run in the provided text, so classified as suspension leading to closure (receivership).

Events (3)

1. December 14, 1883 Chartered

Source: historical_nic

2. October 26, 1934 Receivership

Source: historical_nic

3. October 29, 1934 Receivership

Newspaper Excerpt: Frank E. Lauder Named Bank Receiver ... instructed Bedford and take charge the institution.
Source: newspapers

Newspaper Articles (1)

1. October 29, 1934 Altoona Tribune Altoona, PA

Article from Altoona Tribune, October 29, 1934

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Article Text

Frank E. Lauder Named Bank Receiver Frank E. Lauder, well known man and experienced the apprised Friday by the currency, of the First National and Trust Bedford, Egolf the ended Friday and Mr. Lauder instructed Bedford and take charge the institution. The receiver is native of Tyrone and began the Penn CenLight and Power about years He later and engaged the business. More cently attached Home Owners' association headquarters in Johnstown.