1036. First National Bank (Tranquillity, CA)

View Charter #11433 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11433
Charter Number
11433
Start Date
February 1, 1930*
Location
Tranquillity, California (36.649, -120.253)

Metadata

Model
gpt-5-mini
Short Digest
bf691e96aa427ac6

Response Measures

None

Receivership Details

Depositor recovery rate
93.0%
Date receivership started
1930-02-27
Date receivership terminated
1936-10-29
OCC cause of failure
Governance
Share of assets assessed as good
54.1%
Share of assets assessed as doubtful
26.9%
Share of assets assessed as worthless
19.0%

Description

Newspaper accounts report the First National Bank of Tranquillity was closed by order of its board and a federal receiver (Charles K. Newhall, later H. P. Hilliard) was appointed in early 1930. Articles describe the bank as defunct, receivers suing on overdrafts, and dividend payments to depositors from liquidation — indicating a permanent closure/receivership rather than a temporary suspension or a deposit run. OCR errors in articles (e.g., garbled sentences and inconsistent month references); dates are approximate where the article gives only month/year or is unclear.

Events (5)
1. August 22, 1919 Chartered
Source
historical_nic
2. February 1, 1930* Receivership
Newspaper Excerpt
Newhall named bank receiver ... Newhall was appointed receiver to liquidate the assets of the institution; receiver later sued the Tranquillity Creamery for overdrafts and collected for depositors' dividends from liquidation proceeds (bank called 'defunct').
Source
newspapers
3. February 1, 1930* Suspension
Cause
Government Action
Cause Details
Bank was closed by order of its board and federal examiners stepped in; receiver appointed by comptroller after examination (reported overdraft not shown on books).
Newspaper Excerpt
First National Bank of Tranquillity, California, was closed by order of its board of directors... Charles K. Newhall ... named bank receiver
Source
newspapers
4. February 27, 1930 Receivership
Source
historical_nic
5. September 1, 1931 Other
Newspaper Excerpt
Tranquillity Depositors To Get Dividend ... third dividend 20 per cent ... bankrupt First National Bank Tranquillity ... closed doors February ... bring total dividends paid to date to 70 percent of deposits
Source
newspapers

Newspaper Articles (6)
1. February 28, 1930 The Fresno Bee Fresno, CA
Article from The Fresno Bee, February 28, 1930

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Article Text

NEWHALL NAMED BANK RECEIVER AT TRANQUILLITY Examiner Says Reported Overdraft Not Shown On Books By ROY G. GOODWIN (Fresno Staff Correspondent) WASHINGTON Feb. First National Bank of Tranquillity, Califormia, was closed by order of its board of directors, effective This the statement made the office of the comptroller currency The office clined comment further upon the cause the action at the Charles K. Newhall, by the comptrol of also the United States National Bank Dinuba which closed its doors in 1927 TALKED Feb. That tentative plans the First National Bank of were being but that definite been done the far the statement to-day National Bank Examiner Price, have charge the bank since falled to open for business yesterday. Price said his examination of the records the bank had not yet the reason the collapse the institution. an rumored street talk as the of the bank's failure did not appear on the bank's books. Any plan for reorganization and the bank Price said, would require the approvof the before it could be put into effect

2. May 11, 1930 The Fresno Bee Fresno, CA
Article from The Fresno Bee, May 11, 1930

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Article Text

CREAMERY SUED BY BANK RECEIVER FOR OVERDRAFT Tranquillity Institution's Record Show $40,0000 Checks Honored Alleging that there is $5,000 due the bank on note and approximately $40,000 more in Charles K. for the defunct National Bank of Tranquillity filed suit in the Unit ed States District Court for the southern district of California yesterday against the Tranquillity Creamery Company A writ of at tachment was issued by the court against the properties of the The creamery corporation and the directors and stockholders individuals were named as defendants in the action which was Newhall by Attorneys M. Gallaher and Gilbert Jertberg of The overdrafts actually constitute notes, according to since was the practice the bank accept overdraft checks, holding them until deposits were made by the creamery them the time the bank closed the had issued checks No made although the bank paid cash the persons whose favor the checks were Note Now Due In $5,000 given the bank by the and now due The bank about months in difficulties and closed its doors Newhall was appointed receiver liquidate the of the Institution At the time the bank closed it was rumored Tranquillity that the had largely drawn its at the bank, foreing the bank This not be at the time. Several of the directors were directors of the bank

3. September 1, 1931 The Fresno Bee Fresno, CA
Article from The Fresno Bee, September 1, 1931

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Article Text

Tranquillity Depositors To Get Dividend Checks covering third dividend 20 per cent depositors of the bankrupt First National Bank Tranquillity will from bank's office TranFriday ag. gregates $41,000. The bring the total amount dividends paid date to 70 according bank charge closed doors February with total deposits

4. September 26, 1931 The Fresno Bee Fresno, CA
Article from The Fresno Bee, September 26, 1931

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Article Text

Hilliard Appointed Fresno Bank Receiver Appointment of H. P Hilliard of Merced as receiver for the First National Bank in Fresno, succeed ing H. F. who recently was named receiver of the defunct Los Angeles was announced in Washington by federal comptroller of the curHilliard also will act as receiver for the First National Bank of Tranquillity and the First National Bank of Terra

5. October 26, 1931 The Fresno Bee Fresno, CA
Article from The Fresno Bee, October 26, 1931

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Article Text

BANK RECEIVER SUES CREAMERY Suit of Newhall. former the defunct Tranquillity First National collect the Tranmen was submitted to-day Federal Judge George The claim bility for share in $45,000 of the held the by debts them by the The defendants are R. C. Brown. Covington, Lucian Juanche Joseph Armas and Newhall is represented Gilbert Jertberg and defendants by Attorney W. Docker

6. January 22, 1932 The Fresno Morning Republican Fresno, CA
Article from The Fresno Morning Republican, January 22, 1932

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Article Text

Bank Receiver Here May Ask Federal Funds (Continued from Page 9) at the close of last year amounted to $4,750,344.67 which $1,086.275.69 had not been collected. Included in this uncollected sum was due from stockholders under the 100 per assessment them. 80 PER CENT PAID Shortly after closing of the bank on July 1930. a per cent dividend was paid to depositors. This was followed last year by an additional 10 per cent dividend from funds realized through the liquidat ing process. It generally was felt here that the remaining 20 per cent of deposits would be paid as further funds was that the process be slow. By the reported terms of the corporation possible that approximately $400,000 still be raised through liquidation be obtained so that the remainder of the money due depositors be promptly paid. and the assets converted cash slowly by the or the bank and the loan repaid the corporation Liabilities of the bank as of the end of the year were $2,591,910.51 of which was unse cured. Dividends paid. however amounted to $2,045,973.26 plus $1,558.21 paid during the last quar ter, leaving $544,379.04 still due to the Cash on hand at the end of the last quarter or mately per cent of the liabi leaving balance about per be raised either through further liquidation loan from the finance corpora- H. D. Schilling. the former receiver, shortly after the bank closed that any money raised by liquidation excess the owed would he paid to depositors up to per cent of their funds, and that excess of that sum, should any ad ditional realized, would be paid to stockholders in the form of Hilliard also is receiver for the Terra Bella First National and Tranquillity First National banks. but no recent statements of their condition are available here While Hilliard did not on the possibility of applying national banks, some believe It may be possible.