Cherokee National Bank - St Louis, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12643
Charter Number: 12643
Start Date: March 1, 1933*
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: cf3bc3ec

Response Measures

None

Receivership Details

Depositor recovery rate: 66.8%
Date receivership started: 1933-04-22
Date receivership terminated: 1938-07-30
Share of assets assessed as good: 43.7%
Share of assets assessed as doubtful: 41.2%
Share of assets assessed as worthless: 15.2%

Description

Articles (Jan 22–25, 1934) state Cherokee National Bank of St. Louis was among banks that failed to open after the banking moratorium (March 1933) and is in the hands of receivers for liquidation. No run is mentioned. RFC report (Jan 25 article) lists Cherokee National Bank (receiver).

Events (4)

1. February 26, 1925 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Failed to reopen following the statewide/national banking moratorium (March 1933) and thus remained closed thereafter.
Newspaper Excerpt: failed to open after the banking moratorium
Source: newspapers

3. April 22, 1933 Receivership

Source: historical_nic

4. January 22, 1934 Receivership

Newspaper Excerpt: They are the Cherokee National Bank ... in the hands of receivers for liquidation. / Cherokee National Bank of St. Louis (receiver), $205,000 (RFC report).
Source: newspapers

Newspaper Articles (3)

1. January 22, 1934 St. Joseph News-Press St. Joseph, MO

Article from St. Joseph News-Press, January 22, 1934

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Article Text

HUGE SUM RELEASED Over $22,000,000 in Frozen Deposits in Missouri Freed. About $9,000,000 in Closed National Institutions Is Still Unavailable. Jan. deposits tied up tional banks Missouri failed open after the banking moratorium but approximately $9,000,000 has been for depositor the comptroller currency today. The status of the thirteen banks failed open: Five banks involving deposits of have been reopened, habilitated, reorganized under charters, the acceptable assets sold to another bank. Three to Be Reorganized. Three banks with $1,543,000 deposits plans stages consumThey are the Grand National Bank, Louis; the National Bank, Webster the Bank, Lamar. banks deposits of $278,000 not They the First National Bank, Grove, and the First National Bank, Wind- Three Are in Liquidation Three banks with deposits of 707,000 in the for They are the Cherokee National Bank and the Southside National Bank, Both St. Louis, the People's National Bank; the National out organization plan plates the release of 100 per cent secured deposits 50 per unsecured deposits. The five banks have been reorganized First National Bank, Third National Bank, National Bank, Exchange National Bank, Louis, and the Fidelity National Trust Company, Kansas City.

2. January 22, 1934 Daily American Republic Poplar Bluff, MO

Article from Daily American Republic, January 22, 1934

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Article Text

DEPOSITS IN CLOSED BANKS BEING RELEASED By The Associated Press. Washington, Jan. 000 in deposits tied up in national banks in Missouri that failed to open after the banking moratorium last March, all but approximately $9,000,000 has been freed for depositor use, the comptroller of the currency announced today. The status of the 13 banks that failto open: Five banks involving deposits of $22,891 have been reopened, rehabilitated, reorganized under new charters ,or the acceptable assets sold to another bank. Three banks with deposits have approved reorganization plans in various stages of consummation. They are the Grand National Bank, St. Louis; the First National Bank, Webster Groves, and the First National Bank, Lamar. Two banks with deposits of $278,000 do not have approved plans of reorganization. They are the First National Bank, Mountain Grove, and the First National Bank, Windsor. Three banks with deposits of $6,are in the hands of receivers for liquidation. They are the Cherokee National Bank and the Southside National Bank, both of St. Louis, and the Peoples' National Bank, Seymour. However, the Southside National Bank receivers have worked out an approved reorganization plan which contemplates the release of 100 per cent of secured deposits and 50 per cent of unsecured deposits.

3. January 25, 1934 Daily American Republic Poplar Bluff, MO

Article from Daily American Republic, January 25, 1934

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Article Text

DISTRICT By The Associated Press. Washington, Jan. tion during November of loans to six banks and trust companies of Missouri totaling was reported to Congress by the Reconstruction Finance Corporation. None of this amount was disbursed up to November 30. They were the First National Bank of Clayton, $20,000; the St. Louis County Bank of Clayton, $60,000; the Bartlett Trust Company (receiver), St. Joseph, $125,000; the Cherokee National Bank of St. Louis (receiver), $205,000; Scruggs, Vandervoort Barney Bank (receiver), of St. Louis, $576,500; the West St. Louis Trust Company (receiver), $432,000. Two loans were authorized the Federal Land Bank of St. Louis, one for and one for $5,500,000. No part of the latter had been disbursed up to November 30. A loan was authorized the Tracy Creamery Company of Springfield, Mo., in the amount of $18,000 none of which was disbursed up to November 30. The Cape Girardeau Little River Drainage District was authorized loan of $2,188,914. Subscriptions for preferred stock included the Bank of Bonnots Mill, Mo., $10,000; the First National Bank of Sedalia, $25,000; the United Bank of Farmington, $60,000. No part of these sums had been disbursed up to November 30.