First National Bank - Fountain, CO

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: 1272f082

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) report a receiver (F. L. Kohrda/Kokda) for the defunct First National Bank of Fountain attempting to sell the bank building; no mention of a run in the provided texts. Indicates the bank failed and is in receivership (closed).

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: F. L. Kohrda, receiver for the defunct First National Bank of Fountain wanted sell the bank... receiver 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.
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.