National Bank - Logan, OH

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 7649
Charter Number: 7649
Start Date: February 28, 1931
Location: Logan, Ohio (39.538, -82.406)

Metadata

Model: gpt-5-mini
Short Digest: 5b727539

Response Measures

Full suspension

Other: Bank delivered securities to county to protect county deposits prior to failure.

Receivership Details

Depositor recovery rate: 68.8%
Date receivership started: 1931-04-16
Date receivership terminated: 1937-09-25
OCC cause of failure: Economic conditions
Share of assets assessed as good: 43.3%
Share of assets assessed as doubtful: 46.6%
Share of assets assessed as worthless: 10.1%

Description

Articles report a run on the National Bank (Logan, OH) Feb 28, 1931 that alarmed county officers; the bank went into receivership on March 19, 1931. OCR typos corrected (e.g., 'sult' -> suit; 'reposits' -> deposits). Cause attributed to bank-specific adverse information since receiver alleged insolvency at the time of the run.

Events (4)

1. March 17, 1905 Chartered

Source: historical_nic

2. February 28, 1931 Run

Cause: Bank Specific Adverse Info
Cause Details: Depositors ran on Feb 28, 1931; county officers, alarmed at the run, compelled the bank to pledge securities to protect county deposits.
Measures: Bank gave $63,000 in securities and bonds to county to protect $100,000 in county deposits.
Newspaper Excerpt: county officers, alarmed at run on the bank, on February 28 forced the bank to give the additional security
Source: newspapers

3. March 19, 1931 Receivership

Newspaper Excerpt: The bank went into receivership March 19, 1931.
Source: newspapers

4. April 16, 1931 Receivership

Source: historical_nic

Newspaper Articles (2)

1. August 29, 1931 The Piqua Daily Call Piqua, OH

Article from The Piqua Daily Call, August 29, 1931

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Article Text

RECEIVER FILES SUIT FOR BANK Secks to Recover Securities Deposited in Institution Before Its Failure. Columbus, O., Aug. 29, (U.P)-C. Jones, receiver for the National Bank, Logan, O., has filed sult in federal court against H. Troxel, treasurer, and county commissioners of Hocking county to cover $63,000 In securities and bonds which the bank gave the county to protect county deposits less than month before the bank crashed. Jones alleged that the bank was Insolvent or In immediate danger of so being when the county officers, alarmed frim on the bank, on Feb. 28 forced the bank to give the additional security to protect $100,000 county reposits. The bank went into receivership March 19, 1931.

2. August 29, 1931 The Daily Advocate Greenville, OH

Article from The Daily Advocate, August 29, 1931

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Article Text

RECEIVER Columbus, Ohio, Aug. Jones, receiver for the National Bank, Logan, Ohio, has filed suit in federal court against H. Troxel, treasurer, and county commissioners of Hocking county to recover $63,000 in curities and bonds which the bank gave the county to protect county deposits less than month before the bank crashed. Jones alleged that the bank was insolvent in immediate danger of so being when the county officers, alarmed at run on the bank, on February 28 forced the bank to give the additional security to protect $100,000 in county deposits. The bank went into receivership on March 19, Andrew Brown, of Memphis made perfect score in grade examination, high mark in second grade tests, and was promoted without dely to the third grade.