Corona National Bank (Corona, CA)

View Charter #8436 on SPMC View balance sheet

Episode Information

Episode UID
843601510
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
84360 national
Charter Number
8436
Start Date
October 1, 1925*
Location
Corona, California (33.862, -117.564)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0270f9d06ff094c3

Response Measures

None

Receivership Details

Depositor recovery rate
25.0%
Date receivership started
1925-11-10
Date receivership terminated
1927-03-25
OCC cause of failure
Governance

Description

Known receivership date (1925-11-10) is authoritative and explains later litigation references.

Events (4)
1. November 20, 1906 Chartered
Source
historical_nic
2. October 1, 1925* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended after troubles and disorder leading to reconstruction; later litigation cites fraud by former officers in 1925.
Newspaper Excerpt
the reconstruction process that has been necessary to bring order out of the chaos occasioned by suspension of the Corona National bank
Source
newspapers
3. November 10, 1925 Receivership
Source
historical_nic
4. November 10, 1925 Receivership
Newspaper Excerpt
defunct ... receiver, E. Snidecor, the First National Bank ... concerning fraud perpetrated by James McEniry 1925, has been affirmed by the fourth district ... the defunct Corona bank ... holding them responsible for the action of the former vice-president of the Corona Na-
Source
newspapers

Newspaper Articles (2)
1. October 7, 1925 Riverside Daily Press Riverside, CA
Article from Riverside Daily Press, October 7, 1925

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Article Text

NEW ORGANIZATION IN CORONA BANKING READY FOR OPENING CORONA, Oct. 7.—After a long delay occasioned by the necessity of unwinding all the red tape required by Uncle Sam's banking department, the Citizens bank will begin tomorrow to function as a full fledged bank, commercial as well as savings. Heretofore the bank has been conducted as a savings institution. Permission for issuance of new stock in the Citizens bank was received from the federal superintendent the first of the week. The commercial department will be officially opened following the regular meeting of the board of the directors of the First National bank and of the Citizens bank Thursday morning. This will be the final act of the reconstruction process that has been necessary to bring order out of the chaos occasioned by suspension of the Corona National bank, which suspension was a source of anxiety and foreboding in the community for many weeks.

2. April 21, 1931 Riverside Daily Press Riverside, CA

Article Text

BANK TO SUPREME COURT Judgment of Superior Judge G. R. in favor of cific of San cisco, against the defunct Coreceiver, E. Snidecor, the First Na. tional Bank of concerning fraud perpetrated by James McEniry 1925, has been affirmed by the fourth district Snidecor stated day that the would be carried the supreme court. Judge Freeman rendered judgment requiring Corona bank pay to Francisco bank $9500 loan $10,000, which McEniry obtained fraud from the holding them responsible for the action of the former vice-president of the Corona Na-