First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6119
Charter Number: 6119
Start Date: September 18, 1931
Location: Carey, Ohio (40.950, -83.385)

Metadata

Model: gpt-5-mini
Short Digest: 508207fa

Response Measures

None

Receivership Details

Depositor recovery rate: 96.8%
Date receivership started: 1931-10-12
Date receivership terminated: 1935-10-15
OCC cause of failure: Governance
Share of assets assessed as good: 47.3%
Share of assets assessed as doubtful: 47.3%
Share of assets assessed as worthless: 5.4%

Description

Article (1931-09-18) reports the First National Bank of Carey was closed by its directors following the recent closing of the Commerce-Guardian Bank in Toledo. No run is mentioned and no reopening is reported; classified as a suspension leading to closure. OCR errors in article corrected (e.g., 'Villege'->Village, 'closCommerce-Guardian'->closing of Commerce-Guardian).

Events (3)

1. February 6, 1902 Chartered

Source: historical_nic

2. September 18, 1931 Suspension

Cause: Correspondent
Cause Details: Closed by directors citing the recent closing of the Commerce-Guardian Bank in Toledo which affected the village depository.
Newspaper Excerpt: CAREY BANK CLOSED Suspension of Toledo CommerceGuardian Affects Villege Depository By Post State CAREY O., 18.-The First National Bank failed bank, member the FedReserve and rated bank,' closed by the directors, said, due the recent closCommerce-Guardian Bank in Toledo.
Source: newspapers

3. October 12, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. September 18, 1931 The Cincinnati Post Cincinnati, OH

Article from The Cincinnati Post, September 18, 1931

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Article Text

CAREY BANK CLOSED Suspension of Toledo CommerceGuardian Affects Villege Depository By Post State CAREY O., 18.-The First National Bank failed bank, member the FedReserve and rated bank,' closed by the directors, said, due the recent closCommerce-Guardian Bank in Toledo.