First National Bank - Lewisville, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8978
Charter Number: 8978
Start Date: June 19, 1930
Location: Lewisville, Ohio (39.764, -81.217)

Metadata

Model: gpt-5-mini
Short Digest: e42674f8

Response Measures

None

Receivership Details

Depositor recovery rate: 89.5%
Date receivership started: 1928-12-19
Date receivership terminated: 1931-09-30
OCC cause of failure: Governance
Share of assets assessed as good: 55.8%
Share of assets assessed as doubtful: 37.1%
Share of assets assessed as worthless: 7.0%

Description

Article (Pittsburgh Press, 1930-06-19) reports the First National Bank of Lewisville as defunct and that the federal receiver Joseph Gamble has sued the former directors alleging negligence and investment in questionable securities. No mention of a depositor run in the article; the bank is closed with a receiver and civil suit pending.

Events (4)

1. December 30, 1907 Chartered

Source: historical_nic

2. December 19, 1928 Receivership

Source: historical_nic

3. June 19, 1930 Receivership

Newspaper Excerpt: Joseph Gamble, receiver, has filed suit ... holding directors ... responsible for its closing
Source: newspapers

4. June 19, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Receiver alleges directors' carelessness, neglect and investment of funds in questionable securities leading to closing.
Newspaper Excerpt: Holding directors of the defunct First National Bank, Lewisville, responsible for its closing, Joseph Gamble, receiver, has filed suit for $79,515.35
Source: newspapers

Newspaper Articles (1)

1. June 19, 1930 The Pittsburgh Press Pittsburgh, PA

Article from The Pittsburgh Press, June 19, 1930

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Article Text

HEADS OF DEFUNCT OHIO BANK SUED Receiver Charges Heads With Neg. ligence; Act Sets Precedence Special to The Pittsburgh Press WOODSFIELD O.-Holding directors of the defunct First National Bank, Lewisville, responsible for its closing, Joseph Gamble, receiver, has filed suit for $79,515.35 in Federal Court in Columbus, thereby establishing a precedent which may result in depositors ir numerous Eastern Ohio banks that have failed in recent years bringing similar suits. The suit Gamble filed holds that the directors were responsible for the bank's losses, alleging carelessness, neglect and investment of funds in questionable securities. The directors are C. E. Ketterer, William H. Distler, C. W. Young, W Zerger, L. P. Neuhart, Charles Felock and G. M. Thornberry.