First National Bank - Hartselle, AL

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: 6b522c7e

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 (Apr 8–9, 1932) report that April Soper is the receiver of the First National Bank of Hartselle and won a judgment against the National Surety Co. over embezzlement by a bank officer. This indicates the bank was in receivership (closed) due to bank-specific adverse information (embezzlement). No article mentions a depositor run prior to suspension.

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. Damages... The charged had embezzled of its money.
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... suit was based on the contention that Barclift, an officer of the bank... the surety company liable for whole amount of its bond.
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.