17470. Warren National Bank (Franklin, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8000
Charter Number
8000
Start Date
February 19, 1927
Location
Franklin, Ohio (39.555, -84.296)

Metadata

Model
gpt-5-mini
Short Digest
271e31f0

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1927-03-11
Date receivership terminated
1927-10-17
OCC cause of failure
Fraud
Share of assets assessed as good
67.3%
Share of assets assessed as doubtful
14.3%
Share of assets assessed as worthless
18.4%

Description

Newspaper accounts (Feb 19, 1927) report the Warren National Bank's doors closed by order of the directors and bank examiner. Reports cite dwindling deposits, failed merger talks with Franklin National, and heavy losses on loans (construction company). Articles describe suspension/closure; no article indicates the bank reopened. No explicit receiver named in the provided excerpts, but the institution is presented as closed permanently.

Events (3)

1. December 7, 1905 Chartered
Source
historical_nic
2. February 19, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Deposits had dwindled; failed consolidation with Franklin National; reported heavy losses on loans to a construction/land company leading directors to close the bank after examination by the bank examiner; declining business cited as reason.
Newspaper Excerpt
Closed by order of Directors and Harry Lincoln, Bank Examiner
Source
newspapers
3. March 11, 1927 Receivership
Source
historical_nic

Newspaper Articles (3)

Article from The Cincinnati Enquirer, February 19, 1927

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Article Text

CLOSED! Sign on Bank Says. Decline of Business Blamed For Franklin Collapse. Persons Are Liable To Be Hit, "Tis Only $59,000 January 1. SPECIAL THE ENQUIRER. Blair, PresiOhio, February dent Na"Closed by order of Directors and tional Education Harry L. Lincoln, Bank Examiner. Association placard bearing words Dr. Randall fronted patrons of the Warren Na- President tional Bank when found the the Department doors of the institution closed shortly of before today. Lincoln, beyond the Nasaying that the decision to close the tional Education bank had reached by the Board Mr. Directors that had notified Blair State the Comptroller of the Treasury Washington the circumstances. Illinois fused to give any Information and Dr. Condon cerning closing the institution Superintendent which Franklin's second largest Schools Cincinwhich established The Business Franklin discuss opinion that closing the bank trend due the that deposits had been rapidly attention forts to the institution with some of the modNational the teaching William H. bank its Vogel December published and Mr. Blair will aggregating and loans attend the the $71,000. today The bank was capitalized 1905 for which Dr. will preside. Mr $25,000 and $5,000 and Blair credited $3,000 which profits, with circulameet the same time. $25,000. Decision The offer the Junior Chamber Harry city flag arrived and examination the thanks by the bank business. flags Decision reached school. the after Lincoln had gotten the school and upon deeply enough into flag indicate course action displayed Franklin Directors the bank by Dr. Condon night declined speak the closing. accept referring questioners examiner There reports that the bank Assistant had suffered loan company having Mail left last night tracts Northern part the where will spend was not short vacation with his friend, Victor verified. The for Secretary Treasurer of the years, had great fol- Postal Colony Company lowing. busiBoy Scout Troop of Avondale but these Its sixth annual Father had declined the was less Rockdale Temple $60,000 the beginning of the Thursday Lieutenant Robert American Legion. reliably that be the speaker November, 1926, dinner, Sig Freiberg consolidate hundred persons the stronger National Bank, be present this occasion. nothing came the men closing committee little known the volume was not The pansion Good Samaritan reported stock the bank for $155 by Dr. John Miller. chief of staff. Trading for the Following the the will this there by the Dr. reported the Theiss. of Record CommitNora Nursing Committee: Barkalow Munger the and Ber- Oscar Chairman of oratory and Technical and father the Smith. Chairman of the Program Committee. Franklin insurance man and Dayton Eight seniors the Medical Colreputed lege of heavy comprised Direcat the the hospital. The men Excitement was Franklin William Lipfollowing news that the bank pert, Joseph Bolin, Virtue. suspended. but lessened by Harry Samuel William the that the deposits of the Ragan, Koehler Clifford stitution small. Stricker, University Closing of the today recalled Medical School, Chicago, III., this commu- Cook, University nity years another bank Medical Washington fulled the Cashier being conPottschmidt surgery: Dr. victed embezzlement Charles medicine. Dr. tenced the Ohio Penitentiary. Frederick Delterich, laboratory No liabilities and director. March the named resident physicians at the by the in for 600 patients charge tonight. will available this spring banking inspectors the wing completed. expected Franklin Saturday, or Monday at the latest Senor Federico Perez, formerly


Article from The Journal News, February 19, 1927

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Article Text

FRANKLIN BANK CLOSES DOORS Quickly After Starting On Books Reported On Loans To Company FRANKLIN, OHIO, Feb "Closed by order of Directors and Harry Lincoln, Bank Examiner placard hearing these words confronted patrons of the Warren tional Bank when found the they doors of the institution closed before non Friday. Lincoln, yond that the decision to close the bank been reached by the Board of Directors and that he had notified the Comptroller of the Treasury it Washington of the cumstances, refused to give any formation concerning the closing the institution, which Franklin's second inrgest bank and which was established 1905. Deposits Drop Business men of Franklin expressed the opinion that closi of the bank was due to the fact that deposits had been dwinding rapidly and that of forts to merge institution with the stronger Franklin National Bank last November failed to materialize. The bank, its statement al close of business December 31, published recently, showed deposits aggregat. $59,202 and loans and discounts $71,000, was recalled The bank was capitalized in 1005 for $25,000 and had surplus and WAS credited with having $3,000 undivided profits, note circulation of $25,000 Decision Harry Lincoln, bank examiner, arrived in Franklin Thursday gan examination of the bank's counts when the bank was usual, for business. Decision close the bank was reached after evidently had gotten deeply enough into the examination this course of action. Franklin Directors the bank declined to speak closing, referring questioners Lo the examiner. There were reports that the bank had suffered heavily on loan to construction company having tracts the Northern the part or state This report. however, was 091 verified. The bank, established for yeras, never had gained great lowing, according to Franklin busi. ness men. Some time ago Its deposits reported as but these had declined mail the total was less at the beginning of the current year. It was reliably reported that November, 1926, an effort made to consolidate the Warren National with the stronger Franklin National Bank, but nothing came of the negntiations, and among business men closing of the institution occasioned little surprise, since was known the volume business was not heavy. The last sale of reported stock of the bank was for $155 share. Trading Is Reported Following news of the suspension of the bank this morning, there reported to have been trading the shares of the bank. George FranPresident of the bank, vice- President, Munger the Cashier and ger the Assistant Cashier. The above with H. Berger, father of the Assistant Cashier. and 11. W. Meeker. Franklin insurance man and Dayton financier, who is reputed to heavy stockholder, comprised Direcof the institution. Excitement was rife in Franklin following news that the bank had suspended. but this WHS lessened the fact that the deposits of the were small. Closing of the bank today recalled similar in community 30 years ago when another bank failed, Cashier later being victed of and tenced to the Ohio Penitentiary. No statement of liabilities and sources, or, indeed, of the cause the closing, was made by either Directors the bank examiner charge of the institution. Other tional banking inspectors are expectto arrive in Franklin on Saturday,


Article from The Journal News, March 21, 1927

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Article Text

WARREN NATIONAL BANK IN HANDS Franklin, March offairs the Warren National bank