17550. First National Bank (Logan, OH)

View Charter #92 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
92
Charter Number
92
Start Date
March 6, 1931
Location
Logan, Ohio (39.538, -82.406)

Metadata

Model
gpt-5-mini
Short Digest
d734f177

Response Measures

Full suspension, Books examined

Description

Newspapers (Mar 20 and Mar 22, 1931) report a heavy run beginning about two weeks earlier and the board deciding to close the bank and place it in hands of the Comptroller for voluntary liquidation. Closure is permanent (voluntary liquidation). Minor OCR fixes made (e.g., 'comptroller', 'unwarranted').

Events (4)
1. September 26, 1863 Chartered
Source
historical_nic
2. July 8, 1881 Voluntary Liquidation
Source
historical_nic
3. March 6, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals triggered by malicious and unwarranted gossip (rumors).
Measures
Board later decided to close the bank and place it in hands of the Comptroller; bank placed in voluntary liquidation.
Newspaper Excerpt
A run was started on the bank two weeks ago and has continued ever since.
Source
newspapers
4. March 20, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Board of directors resolved to close the bank and place it in voluntary liquidation, turning custody to the Comptroller of the Currency.
Newspaper Excerpt
The First National Bank here closed its doors today due to a heavy run and continued withdrawals. ... the board of directors had adopted a resolution to close the bank and place it in the hands of the comptroller of currency.
Source
newspapers

Newspaper Articles (2)
1. March 20, 1931 The Daily Times New Philadelphia, OH
Article from The Daily Times, March 20, 1931

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Article Text

BANK AT LOGAN CLOSES TODAY Logan, O., Mar. 20. (UP)- The First National Bank here closed its doors today due to a heavy run and continued withdrawals. A notice posted on the door said the board of directors had adopted a resolution to close the bank and place it in the hands of the conptroller of currency. The notice was posted by Thrimble Smith, national bank examiner. A statement issued by A. F. White, vice-president, said: "Owing to a continued run due to malicious and unwarranted gossip, it was decided by the board of directors to further protect the interest of the depositors and community by placing the bank in voluntary liquidation. A run was started on the bank two weeks ago and has continued ever since. Capital stock on the bank is listed as $100,000 and resources at $250,000. The bank resulted from a merger of the First National and Rentel National banks two years ago.

2. March 22, 1931 News Journal Mansfield, OH
Article from News Journal, March 22, 1931

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Article Text

Logan Bank Closes By Order Of Board United The First tel National bank here closed its doors today due heavy run and continued withdrawals notice posted the door the board of directors had adopted to close the bank and place in the hands of the comptroller of currency notice was posted by Thrimble Smith. national bank examiner. statement issued by A. F. White, vice president said "Owing to continued run due unwarranted gossip, was decided by the of further the interest of the depositors and by placing the in voluntary liquidation run started on the bank two weeks and has continued Capital stock of the bank listed as $100,000 and reat $250,000