City National Bank (Knoxville, TN)

View Charter #3837 on SPMC View balance sheet

Episode Information

Episode UID
383701585
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
38370 national
Charter Number
3837
Start Date
January 1, 1932*
Location
Knoxville, Tennessee (35.961, -83.921)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b6d085609b4be383

Response Measures

None

Receivership Details

Depositor recovery rate
18.0%
Date receivership started
1932-03-09
Date receivership terminated
1939-08-30
Share of assets assessed as good
20.7%
Share of assets assessed as doubtful
51.6%
Share of assets assessed as worthless
27.7%

Description

The bank was taken over by East Tennessee National Bank prior to the formal receivership appointment for assessment purposes.

Events (4)
1. January 19, 1888 Chartered
Source
historical_nic
2. January 1, 1932* Suspension
Cause Details
Taken over by East Tennessee National Bank; specific trigger for the merger not detailed in text.
Newspaper Excerpt
The City National Bank recently was taken by the East Tennessee National Bank.
Source
newspapers
3. March 9, 1932 Receivership
Source
historical_nic
4. March 9, 1932 Receivership
Newspaper Excerpt
I have appointed Joseph A. Gamble receiver for the City National Bank, Knoxville, Tenn., for the sole purpose of collecting an against the stockholders
Source
newspapers

Newspaper Articles (4)
1. March 21, 1932 The Knoxville News-Sentinel Knoxville, TN

Article Text

NAMES CITY BANK RECEIVER Gamble Appointed to Make Stock Assessment. By MARSHALL McNEIL ASHINGTON Appointment of receiver the purpose of making assesment against in the old City tional Bank of KnoxyHle was nouneed today by Pole His statement said: have appointed Joseph Gamble receiver for the City Nafor the sole purpose of collecting the stockholders of the City National Bank "Inasmuch former positors in City National Bank now depisitors the East Tennessee National Bank. this action will in way affect their depositors: neither will affect status of any from the City National Bank inasmuch all its loans acquired the East Tennessee National Bank year such loans have to died in the banking way not necessary for Mr. Gamble open an office Knoxville as necessary to carried out by him the against the can be handled by mail from Washington where he has his The was signed by Pole, Comptroller of the Currency

2. March 22, 1932 Bristol Herald Courier Bristol, TN

Article Text

BANK'S FACING ASSESSMENT Knoxville City National Bank Receiver Named KNOXVILLE, Tenn., Mar. 21. (A News Sentinel said today that receiver has been appointed by Comptroller W. Vole, Washington, for the purpose of making an against stockholders of the old City National Bank. The City National Bank recently was taken by the East Tennessee National Bank. The newspaper quoted Vole as follows: have appointed Joseph A. Gamble receiver for the City National Bank, Knoxville, Tenn., for the sole purpose of collecting an against the stockholders of the City National Bank. "Inasmuch the former depositors in the City National Bank are now depositors in the East Tennessee National Bank, this action will in no way affect their status as such depositors."

3. January 23, 1933 The Knoxville News-Sentinel Knoxville, TN

Article Text

HAMILTON BANK OPEN BRANCH Rents City National Building as Temporary Offices; To Enlarge Main Quarters. Hamilton National Bank will open temporary quarters the former City National Bank building Thursday, President M. Preston said day. Meanwhile, plans are being speeded up for enlarging the main banking not our intention to make the branch peremanent, said Mr. nity temporary relief by providing adequate facilities Directors of the bank approved the move early today permishas been obtained from the Department. The City Natitonal building is be rented from Jay Riley, East Tennessee National Bank ceiver, now in control of the property. junior officer of the Hamilton National be placed in charge the branch, Mr. Preston said and accepted checks cashed and new accounts handled there. However all records, notes and credits will be kept in the main offices Deposits made in the temporary branch will have the same protecMr. Preston said, those made in the main Plans now being consideerd. Mr. Preston added, for enlarging the main banking quarters. Architects have been asked to study the present lay-out and submit sketches which will enlarge the main floor accommodations.

4. September 13, 1933 The Knoxville Journal Knoxville, TN

Article Text

JUDGE UPHOLDS BANK RECEIVER 100 Pct. Stock Assessment Legal, Jurist Rules. Federal Judge George C. ruled yesterday that Joe Gamble of Washington the regularly appointed receiver of City Nationbank and that the 100 per cent assessment against stockholders here legally made. This concluded the first phase of $5,300 suit of the against Mrs. Boyd Attorneys Kennerly Key for the defendant announced peal would be taken. The suit was be tried by jury, but jury was was decided necessary to submit the case jurymen.