First National Bank (Ellwood City, PA)

View Charter #4818 on SPMC View balance sheet

Episode Information

Episode UID
481801597
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
48180 national
Charter Number
4818
Start Date
January 10, 1933
Location
Ellwood City, Pennsylvania (40.862, -80.286)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2dea5fbe4046ea21

Response Measures

None

Receivership Details

Depositor recovery rate
94.2%
Date receivership started
1933-01-10
Date receivership terminated
1940-01-31
Share of assets assessed as good
33.6%
Share of assets assessed as doubtful
56.6%
Share of assets assessed as worthless
9.8%

Description

The bank was already in receivership as of January 1933; articles discuss receiver changes and dividend payments.

Events (4)
1. November 17, 1892 Chartered
Source
historical_nic
2. January 10, 1933 Receivership
Source
historical_nic
3. January 10, 1933 Receivership
Newspaper Excerpt
Charles Ketterer of 407 Fourth street, Ellwood City, as the receiver for the Citizens National and the First National Banks of Ellwood City. He succeeds Robert Wylie.
Source
newspapers
4. March 3, 1934 Other
Newspaper Excerpt
the First National bank here, which is in a like condition, is also ready to pay a dividend, according to an announcement issued by Receiver C. E. Ketterer
Source
newspapers

Newspaper Articles (5)
1. October 17, 1933 New Castle News New Castle, PA

Article Text

Receiver Appointed Charles E. Ketterer Is Appointed Bank Receiver At Ellwood City WILL SUCCEED ROBT. W. WYLIE Announcement was made today of the appointment of Charles Ketterer of 407 Fourth street, Ellwood City, as the receiver for the Citizens National and the First National Banks of Ellwood City. He succeeds Robert Wylie. Ketterer's appointment was signed by Comptroller of the rency. Mr. Ketterer long time resident of Ellwood City and for eighteen years has been the hardware business. some time he has been the treasurer of the YahnJones Company. No announcement was made to the appointment an attorney for the receiver, but Attorney Wilbur Baer, State committeeman for the party here stated this would be done shortly. Mr. Ketterer takes over the work of the receivership of the two banks the close of business October on 18.

2. October 18, 1933 Bradford Evening Star and The Bradford Daily Record Bradford, PA

Article Text

NAMES BANK RECEIVER Ellwood City, Pa., Oct. of the First National and Citizens' banks were in the hands of Ketterer, Democratic leader and local business man, today following his appointment success or to Robert Wylie as receiver.

3. March 3, 1934 New Castle News New Castle, PA

Article Text

First National Bank Here Will Pay Dividends Bank Receiver C. E. Ketterer Announces 16 2-3 Per Cent Dividend To Be Paid ELLWOOD CITY, Mar. 3.—Following shortly after the second payment of dividends of the defunct Citizens National bank of Ellwood City, the First National bank here, which is in a like condition, is also ready to pay a dividend, according to an announcement issued by Receiver C. E. Ketterer this morning. Mr. Ketterer, who is the receiver of both banks here, stated that the First National bank will be open from 9 a. m. to 3 p. m. Monday. A 16 2-3 per cent dividend will be paid to all depositors. The dividend checks arrived from Washington, D. C., this morning.

4. November 2, 1934 New Castle News New Castle, PA

Article Text

Start Suit Against Stockholder Receiver Of Local Bank Brings Suit For Judgment Against Birchard ELLWOOD Nov. Ketterer, receiver the First National bank of Ellwood City, has bought suit in the district court of the United States for the eastern district Pennsylvania, to secure judgment against Birchard on stock assessment liabilities for and interest from March 1933. to the date of controller of currency notice to all stock holders. The bank examiners are checking the books of the Citizens and First National banks Ellwood and Mr. Ketterer declared that other sults will soon follow.

5. November 2, 1934 New Castle News New Castle, PA

Article Text

Start Suit Against Stockholder Receiver Of Local Bank Brings Suit For Judgment Against Birchard ELLWOOD CITY. Nov. Ketterer, receiver of the First Nntional bank of Ellwood City, has bought suit in the district court of the United States eastern district Pennsylvania, to secure judgment against Birchard stock assessment liabilities for and interest from March 1933, to the date of controller of currency notice to all stock holders. The bank examiners are checking the books of the Citizens and First National banks in Ellwood and Mr. Ketterer declared that other sults will soon follow.