First National Bank (Pleasantville, NJ)

View Charter #6508 on SPMC View balance sheet

Episode Information

Episode UID
650801612
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
65080 national
Charter Number
6508
Start Date
April 6, 1934
Location
Pleasantville, New Jersey (39.389, -74.514)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d544173d29e062b2

Response Measures

None

Receivership Details

Depositor recovery rate
25.0%
Date receivership started
1934-11-21
Date receivership terminated
1939-05-01
Share of assets assessed as good
32.1%
Share of assets assessed as doubtful
54.2%
Share of assets assessed as worthless
13.7%

Description

Articles show a conservator was in place by July 1934 and later liquidation/receivership is referenced.

Events (5)
1. November 26, 1902 Chartered
Source
historical_nic
2. April 6, 1934 Other
Newspaper Excerpt
Pleasantville's Trust Fund Contention Denied in Bank Liquidation Federal Judge John Boyd Avis in United District Court here tion the deposit National Bank trust fund not subject to liquidation by the bank's ... First National Bank of The city sought ruling ... Judge Avis many decisions ... Miami Fla March against presumption of trust fund in the
Source
newspapers
3. July 31, 1934 Suspension
Cause
Government Action
Cause Details
Conservator appointed for the bank; RFC authorized loan to assist institution
Newspaper Excerpt
The First National Bank of Pleasantville, conservator, $360,000
Source
newspapers
4. November 21, 1934 Receivership
Source
historical_nic
5. November 21, 1934 Receivership
Source
newspapers

Newspaper Articles (4)
1. April 6, 1934 Courier-Post Camden, NJ

Article Text

SCHOOL CASH RULED GENERAL DEPOSIT Pleasantville's Trust Fund Contention Denied in Bank Liquidation Federal Judge John Boyd Avis in United District Court here tion the deposit National Bank trust fund not subject to liquidation by the bank's Alonzo The deposited in the by Martin ruary 1933 the day bank the payable the order First National Bank of The city sought ruling to the effect because private clearing arrangement between two the of the check National automatically set as trust in hands of the PleasNational Judge Avis many decisions including by court Miami Fla March against presumption of trust fund in the

2. September 24, 1934 The Central New Jersey Home News New Brunswick, NJ

Article Text

JERSEY BANKS Can't You Just Hear the Wedding Bells? NEW LOANED $481,000 Hightstown Trust Company Among Those to Sell Stock to RFC By The Associated Press WASHINGTON, Sept. 24.-The Reconstruction Finance Corporation announced today that for the month of July, 1934, it authorized loans totaling $481,000 to banks and trust companies in New Jersey. The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator, $360,000; The Pleasantville National Bank receiver. $35,000; The First National Bank of Port Norris, receiver, $50,000. and the Westmont National Bank, receiver, $16,000. A loan of $22,500 also was authorized to the Manufacturers Loan Company of Jersey City, no part of which had been disbursed up to the end of the month The corporation during the month authorized subscriptions for preferred stock in 12 New Jersey institutions, none of which had been disbursed up to July 31 They follow: The Dover Trust Company $175,000; The Gloucester City Trust Company, $60,000 The Haddonfield National Bank, $200,000: Hights town Trust Company, $50,000; The First National Bank of Marlton. $15,000; The Penn's Grove National Bank and Trust Company, $50,000; Plainfield Trust Company, $750,000; Princeton Bank and Trust Company, $300,000; South Orange Trust Company, $75,000; The First National Bank of Springfield, $25,000; The Swedesboro National Bank, $50,000. and the Tenafly Trust Company, $100,000.

3. September 25, 1934 Press of Atlantic City Atlantic City, NJ

Article Text

2 Pl'ville Banks GetR.F.C.Loans Allot $360,000 to First National and $35,000 for Pleasantville National WASHINGTON Sept. 24 (AP).The Reconstruction Finance Corporation announced today that for the month of July, 1924, it authorized loans totaling banks and trusts companies in New Jersey The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator $360,000; the Pleasontville National Bank, receiver, $35,000; The First National Bank of Port Norris, receiver. $50,000, and the Westmont National Bank, receiver, $16,000. loan of $22,500 also was authorized to the Manufacturers' Loan Company, of Jersey City, no part of which had been disbursed up to the end of the month. The during the month authorized subscriptions for preferred stock in 12 New Jersey institutions, none of which had been disbursed up to July 31. They follow The Dover Trust Company $175,000; The Gloucester City Trust Company, $60,000; the Haddonfield National Bank, $200,000; Hightstown Trust Company, $50,000; The First National Bank of Marlton, $15,000; The Pennsgrove National Bank and Trust Company, $50,000; Plainfield Trust Company, $750,000; Princeton Bank and Trust Company, $300,000; South Orange Trust Company. $75,000; The First National Atlantic City Hotels

4. September 25, 1934 Press of Atlantic City Atlantic City, NJ

Article Text

2 Pl'ville Banks Get R.F.C. Loans Allot $360,000 to First National and $35,000 for Pleasantville National WASHINGTON Sept. 24 (AP). — The Reconstruction Finance Corporation announced today that for the month of July, 1924, it authorized loans totaling $481,000 to banks and trusts companies in New Jersey. The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator, $360,000; the Pleasantville National Bank, receiver, $35,000; The First National Bank of Port Norris, receiver, $50,000, and the Westmont National Bank, receiver, $16,000. charged with aiding in the jail break of Timothy Large; Frank Patroni and James Totoro, breaking and entering, and George Johnson, assault and battery. * * * Auto Thieves Get Two Years Anthony Mantini, one of five defendants charged with grand larceny following a robbery at Buena Vista, where a factory was burglarized, was released on his own recognizance pending the apprehension of the others named as defendants. All the men reside in Camden. Leonard Wilson and Henry Trott, charged with the larceny of an automobile, the property of Harry Barstow, were given from two to four years in State's prison. Both men, intoxicated, were found sitting in Barstow's car, which was parked on the Brigantine boulevard. They disclaimed all knowledge of the larceny, declaring they had accepted a ride in the machine. Carroll and James Jackson brothers, likewise charged with the larceny of an automobile, the property of Neil Deighan, of West Collingswood, were sentenced to Rahway and Jamesburg, respectively. They were apprehended a mile from Deighan's car, which a garageman had watched them vacate on the White Horse pike. A suspended sentence of one to three years was given Frank Scholler, who had been charged with breaking and entering the residence of Mrs. Yolanda Ferrara, at 19 S. St. David's pl., and Mrs. Pauline Schaefer, at 105 S. Dover av. At the latter address the defendant stole jewelry valued at $85. He was ordered to report by letter to the office of the probation officers from a Philadelphia address. * * * Many Enter Pleas The following entered pleas of not guilty in quarter sessions: Edith I.