Shenandoah Trust Company (Shenandoah, PA)

Episode Information

Episode UID
8774464191585
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
877446419 hash
Start Date
January 30, 1932
Location
Shenandoah, Pennsylvania (40.820, -76.201)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f47d346055a9bc74

Response Measures

None

Description

State banking department took possession; bank remained closed and made partial payments to depositors.

Events (3)
1. January 30, 1932 Receivership
Newspaper Excerpt
The Pennsylvania State Banking Department today taken possession of the Shenandoah Trust Company Shenandoah Pa.
Source
newspapers
2. January 30, 1932 Suspension
Cause
Government Action
Cause Details
Pennsylvania State Banking Department took possession of the bank (state seizure).
Newspaper Excerpt
State Department today announced it had taken possession of the Shenandoah Trust Company at Shenandoah. Pa
Source
newspapers
3. July 16, 1932 Other
Newspaper Excerpt
The Shenandoah Trust Company, Shenandoah, will pay its depositors $99,473, or 10 per cent, Aug. 9. ... The closed institution made its first payment to depositors April 15 of 25 per cent, amounting to $55,073.
Source
newspapers

Newspaper Articles (3)
1. January 30, 1932 Brooklyn Eagle Brooklyn, NY

Article Text

PENN. BANK CLOSED The Pennsylvania State Banking Department today taken possession of the Shenandoah Trust Company Shenandoah Pa. At its last called report the bank had deposits of Roberts Downtown Athletic

2. January 30, 1932 Brooklyn Eagle Brooklyn, NY

Article Text

PENN. BANK CLOSED State Department today announced it had taken possession of the Shenandoah Trust Company at Shenandoah. Pa At its last called report the bank had deposits of $1,039,295.

3. July 17, 1932 The Pittsburgh Press Pittsburgh, PA

Article Text

By The United Press PHILADELPHIA, July 16—Seven more closed banks of the state will pay depositors more than a half million dollars within the next month, Dr. William D. Gordon, State Secretary of Banking, announced today. Among them are four banks in the anthracite region of the state and the other three are in the Philadelphia area. The Farmers and Merchants Bank of Northumberland will pay 20 per cent of its deposits, amounting to $34,190, on July 25. This will be the second payment made by the bank, which closed Oct. 29, 1931. The first 10 per cent payment of $17,099 was made last March 23. The Shenandoah Trust Company, Shenandoah, will pay its depositors $99,473, or 10 per cent, Aug. 9. The Miners Bank of McAdoo also will pay 10 per cent Aug. 9, which will amount to $22,534. The closed institution made its first payment to depositors April 15 of 25 per cent, amounting to $55,073. The latter bank closed Jan. 2, 1932. The Heights Deposit Bank, Wilkes-Barre, will make its second payment of 10 per cent, $195,517, July 29. Depositors received their first 10 per cent, amounting to $128,722, Feb. 9. The bank closed Sept. 23, 1931. The other three banks, in the Philadelphia area, which will make