First National Bank - Elmore, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6770
Charter Number: 6770
Start Date: March 1, 1933*
Location: Elmore, Ohio (41.476, -83.296)

Metadata

Model: gpt-5-mini
Short Digest: c5028d74

Response Measures

None

Receivership Details

Depositor recovery rate: 92.0%
Date receivership started: 1933-09-13
Date receivership terminated: 1938-03-22
Share of assets assessed as good: 34.3%
Share of assets assessed as doubtful: 64.3%
Share of assets assessed as worthless: 1.4%

Description

Article (Elmore Tribune, 1933-09-21) reports the First National Bank of Elmore had been under conservatorship since the March bank holiday and a receiver was appointed in mid-September 1933; no run is described in the text. Classified as suspension leading to permanent closure/receivership.

Events (4)

1. May 6, 1903 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed as part of the March 1933 bank holiday; placed under conservatorship thereafter
Newspaper Excerpt: conservator since the bank holiday in March. The bank was closed so far as new business was concerned
Source: newspapers

3. September 13, 1933 Receivership

Source: historical_nic

4. September 14, 1933 Receivership

Newspaper Excerpt: On Thursday of last week E. P. Carsten received a telegram from the U. S. Government stating that he had been appointed receiver of The First National Bank of Elmore.
Source: newspapers

Newspaper Articles (1)

1. September 21, 1933 The Elmore Tribune Elmore, OH

Article from The Elmore Tribune, September 21, 1933

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Article Text

FIRST NATIONAL BANK IN RECEIVER'S HANDS On Thursday of last week E. P. Carsten received a telegram from the U. S. Government stating that he had been appointed receiver of The First National Bank of Elmore. He at once took charge, relieving Ernst H Meyer, cashier formany years and finally conservator since the bank holiday in March. The bank was closed so far as new business was concerned but the segregated accounts formed since March 1 are free and can be drawn upon in the usual way What will be the final disposition of the bank is not yet fully determined or officially made known; but it is generally believed it will be liquidated. Ralph Slates, assistant cashier, is assisting Mr. Carsten.