First Rempel National Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 7649
Charter Number: 7649
Start Date: March 20, 1931
Location: Logan, Ohio (39.538, -82.406)

Metadata

Model: gpt-5-mini
Short Digest: f04678cebe776115

Response Measures

Full suspension, Books examined

Other: Bank was closed and placed in the hands of the Comptroller of the Currency (receivership/closure).

Receivership Details

Depositor recovery rate: 68.8%
Date receivership started: 1931-04-16
Date receivership terminated: 1937-09-25
OCC cause of failure: Economic conditions
Share of assets assessed as good: 43.3%
Share of assets assessed as doubtful: 46.6%
Share of assets assessed as worthless: 10.1%

Description

OCR in article spells bank as First-Rentel; likely First Rempel National Bank (matches provided bank). Article (1931-03-20) reports heavy run leading directors to close bank and place it in hands of the Comptroller of the Currency (federal receiver). Cause of the run is not specified in the article, so classified as 'other'.

Events (4)

1. March 17, 1905 Chartered

Source: historical_nic

2. March 20, 1931 Receivership

Newspaper Excerpt: A notice posted on the door said the board of directors had adopted a resolution to close the bank and place It In the hands of the comptroller of currency. The notice was posted by Thrimble Smith, National Bank examiner.
Source: newspapers

3. March 20, 1931 Run

Cause Details: Article only states a heavy run and continued withdrawals; no trigger or rumor specified.
Measures: Board of directors adopted resolution to close the bank and place it in the hands of the Comptroller of the Currency.
Newspaper Excerpt: The First-Rentel National Bank here closed its doors today due to a heavy run and continued withdrawals.
Source: newspapers

4. April 16, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. March 20, 1931 The Piqua Daily Call Piqua, OH

Article from The Piqua Daily Call, March 20, 1931

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Article Text

LOGAN BANK IS CLOSED FRIDAY Logan, O., March 20, (U.P.) The First-Rentel National Bank here closed its doors today due to a heavy run and continued withdrawals. A notice posted on the door said the board of directors had adopted a resolution to close the bank and place It In the hands of the comptroller of currency. The notice was posted by Thrimble Smith, National Bank examiner.