144. First National Bank (Hartselle, AL)

View Charter #8067 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8067
Charter Number
8067
Start Date
April 8, 1932
Location
Hartselle, Alabama (34.443, -86.935)

Metadata

Model
gpt-5-mini
Short Digest
8647849a1960df7d

Response Measures

None

Receivership Details

Depositor recovery rate
81.1%
Date receivership started
1931-02-16
Date receivership terminated
1938-08-22
OCC cause of failure
Economic conditions
Share of assets assessed as good
38.9%
Share of assets assessed as doubtful
53.3%
Share of assets assessed as worthless
7.8%

Description

Articles (April 1932) report the First National Bank of Hartselle was in receivership (April Soper, receiver) and that the receiver won a $20,000 judgment against the National Surety Company for embezzlement by a bank officer. The pieces do not explicitly describe a depositor run or the exact suspension date, but the appointment of a receiver indicates the bank closed and remained in receivership/failed. Cause appears to be bank-specific adverse information (embezzlement by an officer).

Events (4)
1. January 27, 1906 Chartered
Source
historical_nic
2. February 16, 1931 Receivership
Source
historical_nic
3. April 8, 1932 Receivership
Newspaper Excerpt
April Soper, receiver of the First National bank of Hartselle, awarded against National Co.
Source
newspapers
4. April 9, 1932 Other
Newspaper Excerpt
Hartselle Bank Receiver Wins $20,000 Judgment ... jury awarded Soper, receiver the First National bank Hartselle, judgment for $20,000 his suit against the National Surety company ... based on the contention that Barclift, an officer of the bank ... embezzled
Source
newspapers

Newspaper Articles (2)
1. April 8, 1932 The Birmingham Post Birmingham, AL
Article from The Birmingham Post, April 8, 1932

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Article Text

BANK RECEIVER WINS SUIT FOR INSURANCE April Soper, receiver of the First National bank of Hartselle, awarded against National Co. Damages of were asked in the case with the National Surety Co. funds The charged had embezzled of its money.

2. April 9, 1932 The Chattanooga News Chattanooga, TN
Article from The Chattanooga News, April 9, 1932

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Article Text

Hartselle Bank Receiver Wins $20,000 Judgment Huntsville, Ala. April Federal district court jury awarded Soper, receiver the First National bank Hartselle, judgment for $20,000 his suit against the National Surety company, which guaranteed the embezzlement of employes or offiThe suit was based on the contention that Barclift, an officer of the bank, and therefore, the complainant held, the surety company liable for whole amount of its bond.