Citizens National Bank (Monticello, KY)

View Charter #6419 on SPMC View balance sheet

Episode Information

Episode UID: 641901307
Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 64190 national
Charter Number: 6419
Start Date: November 17, 1908
Location: Monticello, Kentucky (36.840, -84.851)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 04b52f3367e294a7

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-08-23
Date receivership terminated: 1938-01-06
Share of assets assessed as good: 49.3%
Share of assets assessed as doubtful: 33.9%
Share of assets assessed as worthless: 16.7%

Description

Comptroller closed the bank after discovery of a large cashier shortage; one report also cites a depositor run.

Events (5)

1. September 12, 1902 Chartered

Source: historical_nic

2. November 17, 1908 Other

Newspaper Excerpt: The shortage is estimated at $22,000. The deposits were $80,000.
Source: newspapers

3. November 17, 1908 Run

Cause: Bank Specific Adverse Info
Cause Details: Depositors ran after discovery/revelation of a $22,000 shortage in the cashier's department (alleged embezzlement).
Newspaper Excerpt: the president of the bank, who said that there had been a run and that the institution was in serious straits.
Source: newspapers

4. November 17, 1908 Suspension

Cause: Government Action
Cause Details: Comptroller of the Currency closed the bank after discovery of a $22,000 shortage (cashier accused of embezzlement).
Newspaper Excerpt: The Citizens' National bank closed today ... Cashier Charles W. McConnahey was arrested in connection with the suspension.
Source: newspapers

5. August 23, 1933 Receivership

Source: historical_nic

Newspaper Articles (6)

1. November 17, 1908 The Spokane Press Spokane, WA

Article from The Spokane Press, November 17, 1908

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Article Text

CASHIER JAILED BANK BROKE MONTICELLO, Ky., Nov. 17.The Citizens' National bank closed today and Cashier Charles W. McConnahey was arrested in connection with the suspension. The authorities are seeking Assistant Cashier E. R. Winfrey. The shortage is estimated at $22,000. The deposits were $80,000.

2. November 17, 1908 East Oregonian : E.O Pendleton, OR

Article from East Oregonian : E.O, November 17, 1908

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Article Text

EMBEZZLING CASHIER WRECKS KENTUCKY BANK. Monticello, Ky., Nov. 17.-The Citizens' National bank closed today. Cashier Charles W. McConnahey was arrested in connection with the suspension, and the authorities are seeking an assistant cashier, E. R. Winfrey. The shortage is estimated at $22,000. The deposits are $80,000.

3. November 17, 1908 The Seattle Star Seattle, WA

Article from The Seattle Star, November 17, 1908

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Article Text

Bank Closes-Cashier Arrested. MONTECELLO, Ky., Nov. 17.The Citizens' National Bank closed today. Cashier Charles W. McConnahey is under arrest in connection with the suspension of the Institution and the authorities are seeking Assistant Cashier E. R. Winfrey. The shortage is estimated at $22,000. The deposits are reported to amount to $90,000.

4. November 17, 1908 Coeur D'alene Evening Press Coeur D'alene, ID

Article from Coeur D'alene Evening Press, November 17, 1908

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Article Text

SHORT $22,000 ARREST CASHIER Assistant Cashier is Missing and Bank is Closed by the Government. MONTICELLO, Ky., Nov. 17-The Citizens National Bank of this city closed its doors today. Cashier Charles W. McConnahey has been arrested in connection with the bank's suspension of business, and the officers are now prosecuting a search for the assistant cashier, E. R. Winfrey. The deposits of the bank are estimated at $80,000, and the shortage at $22,000.

5. November 17, 1908 The Washington Times Washington, DC

Article from The Washington Times, November 17, 1908

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Article Text

CASHIER ARRESTED; ASSISTANT MISSING National Bank in Kentucky Town Closed-Shortage $22,000. MONTICELLO, Ky., Nov. 17.-The Citizens' National Bank has been closed, its cashier, Charles W. McConnaghy, arrested, and a search instituted for Assistant Cashier E. I. Winfrey. McConnaghy was taken immediately to Somerset for hearing before United States Commissioner Cook. The shortage is estimated at $22,000. The deposits are said to have amounted to $90,000. The closing of the bank was first made known to the Comptroller of the Currenev by the president of the bank, who said that there had been a run and that the institution was in serious straits.

6. November 18, 1908 Los Angeles Herald Los Angeles, CA

Article from Los Angeles Herald, November 18, 1908

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Article Text

DISCOVERY OF SHORTAGE CAUSES BANK TO SUSPEND Comptroller of Currency Closes Doors of Institution in Kentucky. Cashier Accused of Big Theft WASHINGTON, Nov. 17.-The comptroller of the currency has been advised of the closing of the doors of the Citizens National bank of Monticello, Ky., on account of a shortage of over $20,000 in the cashier's department. The bank has a capital of $50,000 and total resources of $194,000.