First National Bank - Dexter, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11320
Charter Number: 11320
Start Date: January 1, 1931*
Location: Dexter, Missouri (36.796, -89.958)

Metadata

Model: gpt-5-mini
Short Digest: 975b1d9f

Response Measures

None

Receivership Details

Depositor recovery rate: 55.1%
Date receivership started: 1931-10-23
Date receivership terminated: 1935-08-24
OCC cause of failure: Economic conditions
Share of assets assessed as good: 11.9%
Share of assets assessed as doubtful: 73.0%
Share of assets assessed as worthless: 15.2%

Description

Article (Sept 15, 1932) states the First National Bank of Dexter closed in 1931 and a receiver (E. A. Hodges) was appointed; a federal suit by the receiver concerns assessments by the comptroller. No run is mentioned. Classification: suspension leading to permanent closure with receiver.

Events (5)

1. March 21, 1919 Chartered

Source: historical_nic

2. January 1, 1931* Receivership

Newspaper Excerpt: E. A. Hodges, of this city, acting as receiver for the closed First National Bank of Dexter.
Source: newspapers

3. January 1, 1931* Suspension

Cause: Government Action
Cause Details: Bank closed in 1931 and later placed in receivership (comptroller assessment referenced), indicating official closure/receivership rather than a depositor run
Newspaper Excerpt: the bank closed in 1931
Source: newspapers

4. October 23, 1931 Receivership

Source: historical_nic

5. December 18, 1931 Other

Newspaper Excerpt: on December 18, 1931 the comptroller of currency made an assessment of 100 percent against the stock due January 25, 1932, and the petition states that on the $12,700 stock nothing has been paid.
Source: newspapers

Newspaper Articles (1)

1. September 15, 1932 The Daily Statesman Dexter, MO

Article from The Daily Statesman, September 15, 1932

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Article Text

REDISTRICTING SCHOOL BOARD BANK RECEIVER SEEKS ELECTED TODAY JUDGEMENT AGAINST FORMER PRESIDENT Pursuant to provisions of the new school law which provides for redistricting the counties of the state into enlarged optional districts, meeting of the president and clerk of every school board in the county is being held in Bloomfield today, for the purpose of choosing county school redistricting board of six members, or may not be members of any school board in the couunty. The law prescribes that this board shall redistrict the entire county into enlarged optional districts. each of which shall contain an area of not less than fifty square miles, or in lieu of this area, a valuation of at least $1,500,000. The State Department of Education, cooperating with the county superintendent, has made an adminisrative survey of the schools of Stod dard county, which discloses the information that the population of this county has decreased 355 persons, or 1.3 per cent since 1910. The pop ulation of the rural area has decreas ed more rapidly than has that of the towns, the rate of the decrease being 3.6 per cent. The white school population, as shown by the enumeration figures. has decreased 1,311 persons, or 14.2 percent since 1900. Stoddard county has 94 school districts and 113 separately operated chools. These 94 districts were formed to meet educational conditions of a bygone era. While they doubtless served their purpose then, it is generally agreed by educators that schools as small as are most of Stoddard county's schools, cannot meet effectively the educational problems of today. The essential feature of the plan which the survey staff is proposing is larger school units. The staff believes the children of Stoddard county can be served better by larger and consequently fewer schools which implies transportation of children. The proposed reorganization plan for this county, when it is ultimately realized, would locate senior high schools of twelve grades at Advance, Dexter and Puxico, and junior high schools of nine or ten grades at Bell City, Bernie, Bloomfield and Essex, and probably elementary schools of six grades would be established at eeveral points in the county,, but the survey did not attempt to locate them. The following men were elected to the board: Roy Clodfelserve on ter, Essex: John Fortner, Bell City; John Kelley, and Yewell Lawrence of Dexter. M. Sanford, asst. supt. of schools of the state was present at the meeting and talked and answered questions concerning the new school law. This meeting proved to be both profitable and interesting. Suit Involving Stock Assessment And Notes Executed by T. E. Hubbard To Be Tried in Federal Court A suit was filed in Federal court in Cape Girardeau last Thursday by E. A. Hodges, of this city, acting as receiver for the closed First Na tional Bank of Dexter. The petition filed by Mr. Hodges sets out that the bank closed in 1931 and that T. E. Hubbard at that time held $12,700 of stock, and had executed a number of notes held by the same bank. Subsequent to the closing Mr. Hodges was made receiver for the bank, and on December 18, 1931 the comptroller of currency made an assessment of 100 percent against the stock due January 25, 1932, and the petition states that on the $12,700 stock nothing has been paid. Payment on this assessment and on the notes is asked. Wallace F. Morgan, of this city, and Bailey & Bailey, of Sikeston, are attorneys for the plaintiff.