First National Bank - Mendota, IL

Episode Information

Episode UID: 117701594
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11770 national
Charter Number: 1177
Start Date: October 22, 1932
Location: Mendota, Illinois (41.547, -89.118)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 7f395011d14c781d

Response Measures

None

Receivership Details

Depositor recovery rate: 91.4%
Date receivership started: 1932-02-12
Date receivership terminated: 1938-08-24
Share of assets assessed as good: 12.6%
Share of assets assessed as doubtful: 56.7%
Share of assets assessed as worthless: 30.8%

Events (3)

1. May 20, 1865 Chartered

Source: historical_nic

2. February 12, 1932 Receivership

Source: historical_nic

3. October 22, 1932 Receivership

Newspaper Excerpt: First National Bank of Mendota (receiver) $76,000
Source: newspapers

Newspaper Articles (1)

1. October 22, 1932 Dixon Evening Telegraph Dixon, IL

Article Text

ILLINOIS BANKS AIDED BY R. F. C. REPORTED TODAY Corporation's Detailed Report Is Sent To Congress Today Washington, Oct. 22 —(AP)— Almost a billion dollars has flowed from the Reconstruction Finance Corporation into the channels of finance and relief, loans authorized in September alone amounting to $137,346,000. As shown today in the third report from the corporation to the Congress, over $995,604,000 in advances have been made. This embraces nearly $544,000,000 to banks and trust companies and over $218,670,000 to railroads, and does not include loans that have been repaid. The report showed that the cash balance of the corporation on September 30 was $31,545,053. During September $25,000,000 of the third series of the $250,000,000 in 3 1-2 per cent debentures issued by the board were sold to the Treasury. This brings the total amount of debentures sold to the Treasury to $600,000,000, which with the $500,000,000 capital brings the total outlay to over $1,110,000,000. The Secretary of Agriculture had left with the corporation as of September thirteenth $35,071,000 of the allocated crop production fund. Loans authorized during September to banks and trust companies, "exclusive of amounts withdrawn or cancelled" during the month, were listed to include the following in Illinois: First National Bank of Altamont $20,000; Anchor State Bank $7,500; City National Bank of Centralia $60,000; Chicago, East Side Trust & Savings Bank $15,000; Chicago, Sixty-Third & Halsted State Savings Bank $36,500; South Ashland National Bank of Chicago (receiver) $41,000 Standard National Bank of Chicago (receiver) $62,000; Clayton, Clayton State Bank $20,000; State Bank of Collinsville $25,000; State Bank of Cordova $7,000; Crossville, First National Bank $8,000; DeKalb, DeKalb Trust & Savings Bank $35,000; First National Bank of Downers Grove (receiver) $45,000; First State & Savings Bank of Galena $20,000; Hopedale, Hopedale National Bank (receiver) $18,000; Ayers National Bank of Jacksonville $90,000; First National Bank of Leroy (receiver) $30,000; First National Bank of Mendota (receiver) $76,000; Mendota, Mendota National Bank (receiver) $139,000; Mt. Carmel, American-First National Bank $15,000; First National Bank of Newton $21,000; Olney, First National Bank $65,000; First National Bank of Oneida (receiver) $21,000; National City Bank of (Continued on Page 2)