1182. First National Bank (Fountain, CO)

View Charter #6772 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6772
Charter Number
6772
Start Date
September 12, 1932
Location
Fountain, Colorado (38.682, -104.701)

Metadata

Model
gpt-5-mini
Short Digest
eb4f8e52b69a0b6e

Response Measures

None

Receivership Details

Depositor recovery rate
37.2%
Date receivership started
1930-08-01
Date receivership terminated
1933-03-01
OCC cause of failure
Governance
Share of assets assessed as good
36.5%
Share of assets assessed as doubtful
55.0%
Share of assets assessed as worthless
8.5%

Description

Articles (Sept 1932) state the First National Bank of Fountain is 'defunct' and a receiver (F. L. Kohrda/Kokda) is handling sale of the building. No article mentions a run or temporary suspension; the bank appears closed with a receiver appointed, indicating permanent closure/receivership.

Events (3)
1. May 6, 1903 Chartered
Source
historical_nic
2. August 1, 1930 Receivership
Source
historical_nic
3. September 12, 1932 Receivership
Newspaper Excerpt
Receiver Finds Bank Is A White Elephant ... F. L. Kohrda, receiver for the defunct First National Bank of Fountain ... wanted sell the bank, building and all fixtures except money
Source
newspapers

Newspaper Articles (2)
1. September 12, 1932 Woodward Daily Press Woodward, OK
Article from Woodward Daily Press, September 12, 1932

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Article Text

Receiver Finds Bank Is A White Elephant COLORADO SPRINGS, Colo., Sept. -(UP)-Banks are a drug on the market. F. L. Kohrda, received for the defunct First National Bank of Fountain wanted sell the bank, building and all fixtures except money, and he has found that it's almost impossible to do. He has finally decided that he'll sell the whole thing, all set up and ready to go, for approximately $1,100 because that was the highest bid offered by any one of the very few persons who were interested.

2. September 26, 1932 The Washington Daily News Washington, DC
Article from The Washington Daily News, September 26, 1932

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Article Text

Defunct Bank's Receiver Can't Sell the Building COLORADO SPRINGS, Colo.Banks are a drug on the market. F. L. Kokda, receiver for the defunct First National Bank of Fountain, wanted to sell the bank building and all fixtures except money, and he's found that it's almost Impossible to do. He has finally decided that he'll sell the whole thing, all set up and ready to go, for approximately $1100 because that was the highest bid offered by any one of the very few persons who were interested.