Whitley National Bank (Corbin, KY)

View Charter #9634 on SPMC View balance sheet

Episode Information

Episode UID
963401591
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
96340 national
Charter Number
9634
Start Date
July 13, 1932
Location
Corbin, Kentucky (36.949, -84.097)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1708df0819b40b9d

Response Measures

None

Receivership Details

Depositor recovery rate
70.5%
Date receivership started
1932-07-18
Date receivership terminated
1938-05-10
Share of assets assessed as good
45.3%
Share of assets assessed as doubtful
53.9%
Share of assets assessed as worthless
0.8%

Description

Receivership appointed mid-July 1932; bank remained in liquidation with dividends paid later.

Events (4)
1. January 8, 1910 Chartered
Source
historical_nic
2. July 13, 1932 Suspension
Cause
Government Action
Cause Details
Bank suspended business July 13, 1932 and subsequently placed in receivership by federal authorities.
Newspaper Excerpt
The Whitley National Bank suspended business July 13, 1932.
Source
newspapers
3. July 18, 1932 Receivership
Source
historical_nic
4. July 18, 1932 Receivership
Newspaper Excerpt
White F. Varden... has been appointed receiver of the Whitley National Bank at Corbin. ... has had added to his duties the receivership of the Whitley National Bank at Corbin which recently closed.
Source
newspapers

Newspaper Articles (5)
1. July 19, 1932 The Public Ledger Maysville, KY

Article Text

Appointed Receiver Of Third Bank In 18 Months White F. Varden. of this city, national bank receiver, recently in charge of the First National Bank at Newport, Tenn., and since appointed to take charge of the Bell National Bank at Pineville, has been appointed receiver of the Whitley National Bank at Corbin. Mr. Varden will be in charge of both banks and will continue to be assisted by T. J. Pickett, formerly of this city Both have been appointed to three different receiverships within a. period of eighteen months which will bespeak their ability to handle receiverships under government control. Mrs. White F. Varden and daughter, Miss Mildred Varden, have returned from a visit in Pineville with Mr. Varden.

2. July 20, 1932 The Daily Independent Maysville, KY

Article Text

Add Another Bank To Varden's Duties The services of Mr. White F. Varden, who has been serving as national bank receiver in looking after the affairs of the Bell National Bank at Pineville, Ky., has had added to his duties the receivership of the Whitley National Bank at Corbin which recently closed. He will be assisted by Mr T. J. Pickett, formerly of this city. Before going to Pineville Mr. Varden had charge of the First National Bank at Newport, Tenn. Watch your dollars. Safety first, interest second you get both when you put your money in the Mason County Building Association. Phone 20 for 10 shares. It will cost you $2.50 a week and In 1989 you get

3. April 17, 1935 The Corbin Times-Tribune Corbin, KY

Article Text

MAKES TOTAL PAID TO DATE 45 PERCENT Receivers' Certificate Must Be Presented To Get Dividend White F. Varden, Receiver of the Whitley National Bank, Corbin, Ky., announces that he is now ready to pay another dividend of 20 percent to the creditors of the Whitley National Bank who have properly filed their proven claims. Dividend checks will be delivered to all claimants who call at the Receivers office in the Whitley National Bank building and present in person the Receivers Certificate which was issued to such claimants. This latest dividend brings all dividends to date up to a total of 45 percent which has been paid to this bank's depositors and has been made possible through the facilities of the Reconstruction Finance Corporation which has advanced to such closed banks fund with which to make payments. The Receivers office is open daily from 8:30 a. m. to 5 p. m., excepting during the lunch hour from 12 noon to 1 p. m. Claimants should call at once for their dividends. Those who have claims for which they have not filed the required proof of claim should file such claims at once in order to obtain payment of their proportionate share of the funds available for dividend purposes.

4. December 18, 1935 The Corbin Times-Tribune Corbin, KY

Article Text

Defunct Whitley National Bank Depositors Get Dividends Fifteen Percent Is Available To Depositors Today Total of Thirty-Five Percent Is to Be Disbursed This Year MAKES TOTAL OF 60 PERCENT OF DEPOSITS Each Claimant Must Appear In Person To Get The Dividend The Receiver of the Whitley National Bank, Corbin, Kentucky announces that he is now ready to make another payment of 15 percent to all depositors who filed their properly proven claims. Persons having claims against the bank should call on the Receiver at his office on the 2nd floor of the First National Bank Building, Corbin, Ky., and present the Receiver's Certificates which were issued to them. Each claimant must call in person as checks will not be delivered to anyone but the original claimant. The Whitley National Bank suspended business July 13, 1932, and since that time has paid four dividends, including the present one, aggregating 60 percent. The Receiver has paid a total of 35 percent in 1935—including the one just announced—which is an indication of improved business conditions in Corbin. Up until this year only 25 percent had been paid. Liquidation of the assets of the old bank have gone forward to the extent that the building itself has been sold and the office moved to the second floor of the First National bank building. No announcement is made of future dividends, but the Receiver still is hopeful of more money being returned to the depositors.

5. December 22, 1935 The Corbin Sunday Times Corbin, KY

Article Text

LOCAL News Briefs W. H. Cottongim, defeated candidate for Police Judge on the Democratic ticket two years ago, was appointed to the Judgeship by Governor A. B. Chandler, Monday, Dec. 16, to fill the unexpired time of C. S. Browning, deceased. The Corbin Choral group under the direction of Harlowe Dean of Lexington announced the change in rehearsal site, on Monday, to the Christian church. "The Mystery Play of the Birth of Christ," was the Christmas play presented Sunday afternoon by the students of St. Camillus Academy, according to a report received here on Monday, Dec. 16. The East Ward Parent-Teacher Association held a Christmas party Tuesday, Dec. 17, at the East Ward School building, it was reported. Mrs. Helen Mahan, 18, and her husband, Robert Mahan, 22, were arrested and held on a murder charge growing from the alleged torture murder of their nine-month old son, at their home in Jenkins, it was reported on Tuesday. Robert Mahan had been arrested shortly after the baby had entered a hospital suffering from burned feet and hands. It was also reported that R. L. Pope of Knoxville and C. B. Upton of Williamsburg had taken the case for the defendants. The Dramatic club of the Corbin High school presented a successful play Tuesday and Wednesday at the school's assembly room, it was reported. According to a special dispatch from Barbourville on Dec. 17, Union College held an "All School" Christmas party, Saturday night, December 12. The Sewing Room at the Masonic Hall, a WPA project, held an open house to all visitors in this section, Thursday, Dec. 18. The Central Parent-Teachers association met Wednesday in a regular session, it was learned. Robby Bain, Union Transfer truck driver of Lexington, was fatally wounded by an accidental shot from a pistol allegedly belonging to Ben Spurlock, of Harlan, during a friendly "scuffle" early Wednesday morning. The receiver of the Whitley National Bank of this city announced Wednesday that he was now ready to pay a 15 percent payment to those filing proper claims. The Whitley National Bank suspended business July 13, 1932. Billy Mason Watkins, small son of Mr. and Mrs. Bud Watkins, died at a local hospital following an emergency operation, Tuesday, Dec. 17. The Christian Church choir will present an evening of Xmas music tonight at 7:00 o'clock, it was reported. Mr. and Mrs. Thee Lambert were bound over to the grand jury on charges of receiving stolen goods knowingly, growing from the alleged theft of approximately $250. worth of rings by their nine-year-old son, James, from his third grade teacher Miss Clara Muncy in an examining trial held in police court Thursday. The "Mile of Pennies" held by the Volunteer of America Orphan Home here, reported Thursday that the goal was almost reached, making possible for the parentless children to enjoy Xmas. Mr. and Mrs. Woodrow Martin announced the birth of an 8-lb. baby boy, born Dec. 18 on Thursday Dec. 19. William R. Lee, Civil war veteran, died at his home in Wilton, Ky., Dec. 18. He was 88 years old Announcement was made on Thursday of the birthday of a baby girl to Mr. and Mrs. Isaac Wilder, Salt Lake City, Utah, Nov. 23. Mr. and Mrs. Wilder were formerly of this city. Mr. Wilder is the son of Mrs. Cora Wilder of this city. Elizabeth Bingham, 20, died at the home of her adopted mother, Mrs. Beulah Martin, Masterstown, Thursday, Dec. 19. Word was received here that Mrs. E. E. Davenport, Harrodsburg, died recently. Mrs. Davenport was the mother of Mrs. Ernest Wilson of this city.