14871. Farmers National Bank (Bryan, OH)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
2474
Charter Number
2474
Start Date
May 1, 1933*
Location
Bryan, Ohio (41.475, -84.552)

Metadata

Model
gpt-5-mini
Short Digest
6c64e0bd85fe0424

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-02-08
Date receivership terminated
1938-12-30
Share of assets assessed as good
51.1%
Share of assets assessed as doubtful
46.8%
Share of assets assessed as worthless
2.2%

Description

Articles from 1933 indicate the Farmers National Bank of Bryan closed during the 1933 banking turmoil and a receiver was in place by mid-1933 (authorizations of loans for the receiver are discussed in Sept. 1933 piece). No explicit contemporaneous description of a depositor run is given in the excerpts; coverage refers to bank trouble, rumors about an employee, and that the bank was closed, and later references loans to the receiver. I therefore classify this as a suspension that resulted in permanent closure/receivership. Dates are approximate based on publication dates.

Events (4)

1. April 16, 1880 Chartered
Source
historical_nic
2. May 1, 1933* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Local bank trouble leading to closure during 1933 banking turmoil; articles mention internal problems, rumors about an employee and a held collection item, not an explicitly described nationwide panic.
Newspaper Excerpt
by that time the Farmers' Bank was closed
Source
newspapers
3. June 1, 1933* Receivership
Newspaper Excerpt
loans authorized ... for the receiver ... the Farmers National bank Bryan ... did not ask for the loan after obtaining ... authorizations during July 21, 1932 June 1933, which were withdrawn or ... For the receiver ... (article discussing loans to receivers of Ohio banks).
Source
newspapers
4. February 8, 1934 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from The Bryan Democrat, May 8, 1933

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Article Text

THE UNTRUE RUMOR During our turmoil of our bank uation, there has been great many things said that are not true. Frank Radabaugh was in my employ for 23 years, and know him and know that honest man and when reported that he had transferred his property to his wife to his obligations in the bank indebtedness, knew that was not true and for the great respect have for him took the pains to investigate. The rumor was that he had deeded his home to his wife and given mortgage to his brother. Upon tion found that when they bought the property in which his daughter lives, Mrs. Radabaugh furnished the money that she received from her father's estate, and the deed was to her in November and the same was recognized by H. H. DeMuth, notary public at that time, long before we had any bank trouble. On account of sickness, Mr. Radabaugh had borrowed $400 from the Union Trust Bank, and his brother had sold his property and had plus money and he took the mortup from the bank and still holds Mr. Radabaugh has only five shares of the bank stock, so you see he was not liable in any event for $500 and had no need to transfer his property. to Dr. Lemon's collection, it was check for $400, left at the Union Trust bank to be sent for collection. The Union Trust always sent such collections through the Farmers National Bank of Bryan, the check payable in bank at Columbus, the Columbus bank refused to pay and instead of returning at they held it for number of days and then returned to the Farmers National bank, and by that time the Farmers' Bank was closed and the check is held there and the banking laws will not allow it to be given up until final settlement. so you see Mr. Radabaugh had nothing to do with Binns.


Article from The Akron Beacon Journal, September 7, 1933

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Article Text

FIRMS $74,375,390 Most Of Sum Goes To Receivers Of Cleveland Banks During July Sept. (AP) Loans totaling to Ohio banks bank receivers thorized by the Finance during the corporation thorized as loan for the Farmers National bank Bryan, which did not ask for the loan after obtaining The also issued report on approximately $700,000 loans authorized during period July 21, 1932 June 1933, which were withdrawn or The authorizations during July the following: For the receiver the Union Co., the of the Guardian Trust the Middle Point Co., MidPoint, $2,000; for the bor State Bank Co.,