Bank was closed by federal bank examiners after discovery of large embezzlement by the cashier (T. N. Robinson). A receiver (L. C. Noble) was appointed in July 1932; a Comptroller-appointed receiver (Milford Tomb) took over remaining assets in May 1934. No newspaper text describes depositor runs; closure and receivership indicate permanent failure.
Events (5)
1.December 1, 1905Chartered
Source
historical_nic
2.July 1, 1932*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed after discovery of embezzlement by cashier Thomas N. Robinson (charged with embezzling $14,280.87).
Newspaper Excerpt
the bank of which Robinson had been cashier for several years was closed Monday by federal bank examiners
Source
newspapers
3.July 17, 1932Receivership
Newspaper Excerpt
L. C. Noble has been named receiver for the Citizen's National Bank of Indiana.
Source
newspapers
4.September 12, 1932Receivership
Source
historical_nic
5.May 7, 1934Receivership
Newspaper Excerpt
Milford Tomb of Indiana received from the Comptroller of Currency, to take over the remaining assets the First National Bank and act as receiver in ... The Citizens National Bank, Indiana; ... Mr. Tomb has begun take over the assets the bank
Source
newspapers
Newspaper Articles (6)
1.July 17, 1932The PatriotIndiana, PA
Click image to open full size in new tab
Article Text
LOCAL BANK CASHIER HELD FOR EMBEZZLEMENT
T. N. Robinson Posts Bond For Hearing Before Commissioner
Arrested here Wednesday afternoon on a charge of embezzling $14,280.87 from the Citizens' National bank of this place, of which he was cashier, Thomas N. Robinson posted $10,000 bond before United States Commissioner Ray Patton Smith for a preliminary hearing here S. Sept. 27. The bank of which Robinson had been cashier for several years Was closed Monday by federal bank examiners and the warrant charging the official with embezzlement was issued shortly afterward by a United States commissioner at Pittsburgh. It is said the cashier's speculations covered a period of more than one year. Deputy United States Marshal Goldman, of Pittsburgh, served the warrant on Robinson
2.July 17, 1932The PatriotIndiana, PA
Click image to open full size in new tab
Article Text
Noble Appointed Citizen Bank Receiver
1. C Noble has been named recerver for the Citizen's National Bank of Indiana. Mr. Noble is also the receiver for the closed banks at Clymer, Glen Campbell and Mahaffey.
3.August 20, 1932The PatriotIndiana, PA
Click image to open full size in new tab
Article Text
LOCAL BANK CASHIER HELD FOR EMBEZZLEMENT
T. N. Robinson Posts Bond For Hearing Before Commissioner Arrested here Wednesday afternoon on a charge of embezzling $14,280.87 from the Citizens' National bank of this place, of which he was cashier, Thomas N. Robinson posted $10,000 bond before United States Commissioner Ray Patton Smith for a preliminary hearing here Sept. 27. The bank of which Robinson had been cashier for several years was closed Monday by federal bank examiners and the warrant charging the official with embezzlement was issued shortly afterward by a United States commissioner at Pittsburgh. It is said the cashier's speculations covered a period of more than one year. Deputy United States Marshal Goldman, of Pittsburgh, served the warrant on Robinson.
4.August 20, 1932The PatriotIndiana, PA
Click image to open full size in new tab
Article Text
Noble Appointed Citizen Bank Receiver
L. C. Noble has been named receiver for the Citizen's National Bank of Indiana. Mr. Noble is also the receiver for the closed banks at Clymer, Glen Campbell and Mahaffey.
5.September 14, 1932The Indiana GazetteIndiana, PA
Click image to open full size in new tab
Article Text
NOBLE NAMED BANK RECEIVER
L. C. Noble, receiver for the closed banks Clymer, Glen Camps bell and Mahaffey, has been named receiver for the Citizens Na. tional Bank of Indiana. Mr. Noble has been located in Indiana for some two years. He was recently married to Miss Florence Huber, former member of the faculty Indiana State Teachers College, Mr. and Mrs. Noble have apartment the Moore Hotel.
6.May 7, 1934The Indiana GazetteIndiana, PA
Click image to open full size in new tab
Article Text
Tomb Named Bank Receiver
Milford Tomb of Indiana received from the Comptroller of Currency, to take over the remaining assets the First National Bank and act as ceiver in This five banks for which Mr. Tomb The Citizens National Bank, Indiana; the Clymer National Bank, Clymer; Glen CampNational Bank, Glen Campbell; and National Bank of Mahaffey. Mr. Tomb has not received word as where will handle the affairs of the Indibank. He stated this morning that he had begun take over the assets the bank and that would require about two weeks time. This arrangement nothing with the new First National Bank in Indiana. Because the fact that the bank bought old building. probable that Mr. Tomb will have the affairs taken care some other banking room.
