First National Bank - Terra Bella, CA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9889
Charter Number: 9889
Start Date: May 2, 1931
Location: Terra Bella, California (35.962, -119.044)

Metadata

Model: gpt-5-mini
Short Digest: c9775d14

Response Measures

None

Receivership Details

Depositor recovery rate: 75.8%
Date receivership started: 1931-05-05
Date receivership terminated: 1936-02-17
OCC cause of failure: Economic conditions
Share of assets assessed as good: 23.2%
Share of assets assessed as doubtful: 68.4%
Share of assets assessed as worthless: 8.4%

Description

The bank closed/failed to open in early May 1931 after a visit from the national bank examiner and a receiver was appointed. Articles describe permanent closure with receiver and subsequent dividend distributions in late 1931–1932. There is a minor date discrepancy: one article says closed May 2, 1931; another says failed to open May 4, 1931; receiver appointment reported May 11, 1931.

Events (7)

1. November 18, 1910 Chartered

Source: historical_nic

2. May 2, 1931 Suspension

Cause: Government Action
Cause Details: Closed following a visit of the national bank examiner; failed to open for business in early May 1931.
Newspaper Excerpt: The First National Bank of Terra Bella, which closed Its doors May 2, 1931, will pay its first dividend next week.
Source: newspapers

3. May 5, 1931 Receivership

Source: historical_nic

4. May 11, 1931 Receivership

Newspaper Excerpt: H. F. Schilling has been appointed receiver for the First National Bank of Terra Bella, which failed to open its doors for business the 4th inst. Schilling ... has taken charge of the local institution. Asked for statement, he said he had nothing for publication with reference to the condition of the bank or what depositors might expect, as he had just started to familiarize himself with the (books).
Source: newspapers

5. November 28, 1931 Other

Newspaper Excerpt: The First National Bank of Terra Bella, which closed its doors May 2, 1931, will pay its first dividend next week, when total of $31,000 plus will be distributed to creditors... The bank was closed as of May 2, following a visit of the national bank examiner.
Source: newspapers

6. August 15, 1932 Other

Newspaper Excerpt: Beginning today, $11,000 will be paid to the 350 creditors of the defunct First National Bank of Terra Bella, according to an announcement by H. P. Hilliard, the bank receiver in Fresno.
Source: newspapers

7. December 21, 1932 Other

Newspaper Excerpt: Creditors of the defunct First National Bank of Terra Bella today were receiving the third dividend... The bank failed in the spring of 1931. Payment is being made at the office of H. P. Hilliard, receiver.
Source: newspapers

Newspaper Articles (5)

1. May 12, 1931 The Los Angeles Times Los Angeles, CA

Article from The Los Angeles Times, May 12, 1931

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Article Text

H. F. Schilling Bank Receiver TERRA BELLA. May 11.-H. F. Schilling has been appointed receiver for the First National Bank of Terra Bella. which failed to open its doors for business the 4th inst. Schilling who also receiver for the First National Bank of Fresno. has taken charge of the local institution Asked for statement, he said he had nothing for publication with reference to the condition of the bank or what depositors might expect. as he had just started to familiarize himself with the However, he did authorize the interesting statement that in cases in which the demands of borrower and depositor are strictly mutual. the deposit would serve as a credit on the loan.

2. November 28, 1931 Porterville Recorder Porterville, CA

Article from Porterville Recorder, November 28, 1931

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Article Text

TERRA BELLA'S BANK WILL PAY FIRST DIVIDEND The First National Bank of Terra Bella, which closed Its doors may 2. 1931, will pay its first dividend next week. when total of $31.000 plus will be distributed to creditors, the dividend representing 30 per cent of the face value of the approved claims. Checks will be on hand for all depositors who have filed claims against the trust, whether or not they have received "receiver's certificates" to cover same. Mrs. Ada Wing. representing Receiver Henry E. Hilliard, will be at the banking rooms next week, Wednesday and Thursday, Dec. 2 and 3. to distribute this dividend. The receiver's office will be open only two days next week and will be closed for business until Wednesday of the fullowing week. Mrs. Wing will be on hand at D o'clock Weiternday morning to welcome real run The bank was closed as of May 2. following a visit of the national bank examiner. The deposits on that date totalled a little above $150,000. The balance sheet was somewhat decreased by offsets, in which a depositor, also a borrower from the bank; used his deposit to apply on his loan. This brought the actual deposits down some thousands of dolThe Terra Bella irrigation district. under the law, was preferred credItor, the bank heing compelled to post securities to cover an estimated average balance. Some of the bonds posted have been sold to the benefit of the irrigation district, decreasing the distriet's deposit claim by about $10,000, and the district is receiving out of this forthcoming dividend the sum of $10,000, making a total of $26,000 paid to the district on its claim of around $30,500. The national banking department levied an assessment of one hundred per cent against the stock of the First National Bank as. result of the closing of the bank, but only a small part of the assessment has been collected. This fact accounts for a dividend not exceeding thirty per cent. If the assessment had been paid in full, around $20,000 additional would have been available for distribution.

3. August 15, 1932 The Hanford Sentinel Hanford, CA

Article from The Hanford Sentinel, August 15, 1932

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Article Text

DRYING PLANT READY new $20,000 Rosenberg Brothers dehydrator plant in the Farmersville district will be operation before the end of this week, following final construction work Saturday. The Fresno conbegan construction two months Visalia, Aug dredger ago and will dry only which has aroused the grapes this attention year. Fifty tons of grapes will gold mining experts all over the handled at the Farmersville world and which was invented and plant daily. built by Fuller of Visalia LOST DOCTOR FOUND prepared for to shipment Mexico California Hot Springs, Aug. Dr Bowen, prominent Lind- The machine designed to who was lost in the "wash" gold out of desert sand withmountains near here out the use of water. Friday, resembles found late last night in small house and Bull is mounted upon Basin, fifteen miles north of here tractor powered chassis. Power by Ranger Ralph Wells of the provided by two gasoline engines. quoia National Forest Service and The machine equipped with Rolla Arnold of California Hot plant that with electrical provides Springs. power for night work. DAD WHIPS SON, FINED Modesto, guilty battery his Silsbee, North Modesto farmer liberty today on pended jail sentence. In addition the suspended Judge Hawkins, who found Silsbee guilty, after court trial, imposed fine. ALMOND EXCHANGE OPEN Oakdale, Aug. Oakdale Almond Exchange opened for season today. Some of the ranchers already beginning to harvest their nonpareils. The almond ket reported to have stiffened the last few days. Advances will be based on grades instead of varities this year, Secretary Boddy said. SONORA BANKS BOUGHT Sonora, Aug. Bank America has acquired two small banks in Sonora, Will Morrish, president of the California banking announced. The two banks, the First National Bank of Sonora, and the Tuolumne Bank of have assets excess of DRIVES GOLF MILES Lemon Cove, Cal., Aug Huneke claims to have established record for the longest golf drive the valley. Climbing Moro rock in Sequoia National Huneke drove five balls from the rock. Some them landed in the road near Hospital Rock. five miles away automobile road and three miles by air line. It's down hill all the course. THEATER ROBBED OF Aug armed and masked bandits fled with about $4,000 in cash last night from Warner Bros. Theater after leaving Manager Regan, Franks, head and Katherine Buel, cashier, in the vault of the theater office, where the three were surprised by the bandit trio while preparing to deposit the day's receipts. Terra being the 350 creditors of the defunct First National Bank of Terra Bella, cording to an announcement by the bank receiver Fersno. The money will be the office in Terra Bella.

4. August 16, 1932 Hanford Morning Journal Hanford, CA

Article from Hanford Morning Journal, August 16, 1932

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Article Text

Valley Briefs Terra Bella, Aug. 15.-Beginning today, $11,000 will be paid to the 350 creditors of the defunct First National Bank of Terra Bella, accordiny to an announcement by H. P. Hilliard, the bank receiver in Fresno. The money will be paid at the office in Terra Bella. Tulare. Aug 15.-Leonard Johns. erant, miraculously escaped death here yesterday afternoon when he was thrown under a Southern Pacific freight train he was seeking to board and lay alongside the tracks while the entire train passed over his body. Fresno. Aug. 15.-A charge of murder is expected to be filed against Bert Andrews, 45. proprietor of small restaurant at Selma, for the fatal shooting of Kenneth Moore. 24, of Selma at Andrews' restaurant Saturday night Andrews. who was said by Constable Alvin King of Selma to have shot (Continued on Page Flyer

5. December 22, 1932 The Los Angeles Times Los Angeles, CA

Article from The Los Angeles Times, December 22, 1932

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Article Text

Creditors Get Bank Payment TERRA BELLA. Dec. 21. (Exclusive)-Creditors of the defunct First National Bank of Terra Bella today were receiving the third dividend, amounting to 10 per cent. or a total of about $20,000 The bank failed in the spring of 1931. Payment is being made at the office of H, P. Hilliard, receiver. upon presentation of creditors' certificates. The office opened at 10 a.m. today, closing at p.m. Similar hours will be maintained tomorrow and Friday. Payments thereafter to be mailed out to claimants, Hilliard stated. NEW BOARD NAMED MINNEAPOLIS (Minn.) Dec. 21 General Mills, Inc., today elected William R. Morris, president of the Washburn. Crosby, Inc., of Buffalo, and H. R. McLaughlin, president of the Washburn, Crosby Company, Inc., of Chicago, as directors.