National Bank of Commerce

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5371
Charter Number: 5371
Start Date: May 18, 1934
Location: Lorain, Ohio (41.453, -82.182)

Metadata

Model: gpt-5-mini
Short Digest: 05272d8a

Response Measures

None

Receivership Details

Date receivership started: 1934-05-09
Date receivership terminated: 1934-10-22

Description

Article (May 18–19, 1934) states the National Bank of Commerce of Lorain had a conservator until last week and was placed in receivership. No run is mentioned; the bank is in receivership and a reorganization plan is being studied by Treasury, consistent with a suspension leading to closure/receivership.

Events (6)

1. May 25, 1900 Chartered

Source: historical_nic

2. May 9, 1934 Receivership

Source: historical_nic

3. May 18, 1934 Receivership

Newspaper Excerpt: Harry Nicholl, Conservator of the bank until last week, when it was placed in receivership, has said the plan ... would mean an initial dividend to depositors ...
Source: newspapers

4. May 18, 1934 Suspension

Cause: Government Action
Cause Details: Bank placed in receivership (state/federal action leading to suspension of normal operations).
Newspaper Excerpt: Treasury officials today were working on legal details of reorganization plan for the National Bank of Commerce of Lorain, Ohio. Harry Nicholl, Conservator of the bank until last week, when it was placed in receivership...
Source: newspapers

5. October 22, 1934 Restored To Solvency

Source: historical_nic

6. December 29, 1934 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. May 19, 1934 The Cincinnati Enquirer Cincinnati, OH

Article from The Cincinnati Enquirer, May 19, 1934

Click image to open full size in new tab

Article Text

OHIO BANK PLAN STUDIED. Washington, May 18 (AP) Treasury officials today were working on legal details of reorganization plan for the National Bank of Commerce of Lorain, Ohio. Representative Harter Democrat, Ohio, after talking with the Treassaid there be no announcement for few days until all phases of the plan have been reviewed. Harry Nicholl, Conservator of the bank until last week, when it was placed in receivership, has said the plan, submitted by himself and the Board of Directors, would mean an initial dividend to depositors of at least per cent, or around $1,250,000. Columbus, Ohio, May 18-The Bank of Sherwood. County, was closed for today by Ira Fulton, State Bank Superintendent.