Citizens National Bank (Indiana, PA)

View Charter #7993 on SPMC View balance sheet

Episode Information

Episode UID
799301593
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
79930 national
Charter Number
7993
Start Date
September 12, 1932
Location
Indiana, Pennsylvania (40.621, -79.153)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bca032827dfe9103

Response Measures

None

Receivership Details

Depositor recovery rate
33.0%
Date receivership started
1932-09-12
Date receivership terminated
1939-02-28
Share of assets assessed as good
18.2%
Share of assets assessed as doubtful
74.7%
Share of assets assessed as worthless
7.1%

Description

Articles report cashier embezzlement and bank closed by examiners; receiver appointed. Some earlier items imply closure timing variation versus federal receivership.

Events (4)
1. December 1, 1905 Chartered
Source
historical_nic
2. September 12, 1932 Receivership
Source
historical_nic
3. September 12, 1932 Receivership
Newspaper Excerpt
L. C. Noble has been named receiver for the Citizens' National Bank of Indiana.
Source
newspapers
4. September 12, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Irregularities/embezzlement by cashier Thomas N. Robinson discovered by national bank examiner; directors closed bank
Newspaper Excerpt
the bank of which Robinson had been cashier ... was closed Monday by federal bank examiners
Source
newspapers

Newspaper Articles (7)
1. July 17, 1932 The Patriot Indiana, PA

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, 1932 The Patriot Indiana, PA

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, 1932 The Patriot Indiana, PA

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, 1932 The Patriot Indiana, PA

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 13, 1932 The Pittsburgh Press Pittsburgh, PA

Article Text

WARRANT IS ISSUED FOR BANK CASHIER Charge Made After Closing At Indiana, Pa. A Federal warrant was issued today for the arrest of Thomas N. Robinson, 43, cashier of the Citizens National Bank of Indiana, Pa., which closed yesterday, charging misapplication of $14,280.87. According to Assistant United States Attorney James I. Marsh, the closing of the bank yesterday was not brought about by the alleged misapplications, which Marsh said were covered by a surety bond. The notice posted at the bank when it failed to open yesterday, however, stated it was closed by the directors when they were informed irregularities had been discovered by C. E. Underwood, national bank examiner. The amount of irregularities was not specified in the notice. Officials said today efforts would be made to declare an early dividend through arrangements with the Reconstruction Finance Corporation.

6. September 14, 1932 The Indiana Gazette Indiana, PA

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.

7. May 7, 1934 The Indiana Gazette Indiana, PA

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.