National Bank of the State

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1665
Charter Number: 1665
Start Date: January 1, 1876*
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: c8e16301

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1877-06-23
Date receivership terminated: 1888-03-26
OCC cause of failure: Fraud
Share of assets assessed as good: 21.3%
Share of assets assessed as doubtful: 64.2%
Share of assets assessed as worthless: 14.4%

Description

Article (New-York Tribune, Oct 4, 1878) states the National Bank of the State of Missouri suspended payment two years ago and a receiver exists who declined a claim. The report discusses alleged improper loans and mismanagement by the bank's directors, indicating bank-specific adverse information. No mention of a depositor run or of reopening; receiver and lawsuit indicate the bank remained closed.

Events (4)

1. October 30, 1866 Chartered

Source: historical_nic

2. January 1, 1876* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Allegations of illegal borrowing/loaning operations and mismanagement by directors (disputed $1,000,000 loan; receiver declined claim).
Newspaper Excerpt: the National Bank of the State of Missouri, which suspended payment two years ago.
Source: newspapers

3. June 23, 1877 Receivership

Source: historical_nic

4. * Receivership

Newspaper Excerpt: This claim of $400,000 was presented to the receiver, but he declined to allow the claims, on the ground that the money had been borrowed by the directors as individuals.
Source: newspapers

Newspaper Articles (1)

1. October 5, 1878 New-York Tribune New York, NY

Article from New-York Tribune, October 5, 1878

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Article Text

A LARGE CLAIM RECOVERED. ST. LOUIS, Mo., Oct. 4.-A case of unusual interest 18 now being tried in the United States Circuit Court at St. Louis, Mo., the plaintiff being the National Bank of Commerce, of New York, and the defendant the National Bank of the State of Missouri, which suspended payment two years ago. The suit is for $400,000, alleged to be the remainder of a loan of $1,000,000 to the National Bank of Missouri. It appears that in 1866 the directors of the Bank of Missouri borrowed $1,000,000 of circulating notes of the Bank of Commerce, of which $600,000 had been paid back when the bank suspended. This claim of $400,000 was presented to the receiver, but he declined to allow the claims, on the ground that the money had been borrowed by the directors as individuals. An attempt is made to show that the National Bank of Missouri did no: do right to borrow money to loan again, and that the officers of the Bank of Commerce knew that the proceeding was illegal. The whole suit turns upon the question whether the Bank of Commeree assented to fraud by making the loan. It is expected that there will be sensational developments as to the management of the Missouri bank before the trial is over. Later.-Under instructions of the Court the jury, in the case of the Bank of Commerce against the National Bank of Missouri, returned a verdict in favor of the plaintiff for $445,582 13.