17559. First National Bank (Lynchburg, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11772
Charter Number
11772
Start Date
September 22, 1931
Location
Lynchburg, Ohio (39.242, -83.791)

Metadata

Model
gpt-5-mini
Short Digest
4d9c8e81

Response Measures

None

Receivership Details

Depositor recovery rate
64.1%
Date receivership started
1931-09-28
Date receivership terminated
1934-04-30
Share of assets assessed as good
21.4%
Share of assets assessed as doubtful
75.6%
Share of assets assessed as worthless
3.0%

Description

The First National Bank of Lynchburg (OH) closed Sept. 22, 1931 and a receiver (Harry L. Lanum) was appointed by late Sept. 1931. Articles describe closure and liquidation/receiver activity; no article describes a depositor run prior to suspension, so this is classified as a suspension followed by permanent closure/receivership.

Events (4)

1. June 30, 1920 Chartered
Source
historical_nic
2. September 22, 1931 Suspension
Cause Details
No explicit cause given in the articles; reason for closure not stated.
Newspaper Excerpt
the First National Bank of Lynchburg which closed September 22, 1931.
Source
newspapers
3. September 28, 1931 Receivership
Source
historical_nic
4. September 29, 1931 Receivership
Newspaper Excerpt
Harry Lanum ... was appointed by the United States ... receiver for First National Bank at Lynchburg, near here. which closed its doors last Wednesday. Lanum immediately took charge of the Highland County institution
Source
newspapers

Newspaper Articles (5)

Article from The Plain Dealer, September 30, 1931

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Article Text

Today's Prize Winners (These hints each receive a prize of $1. Write with ink on one side of ginger. Cook two hours and seal. paper. Address contributions to HouseBucyrus. MRS BIRD BAKER. hold Editor, Plain Dealer. Prizes for week are mailed Monday of week Baked Mexican Steak. 1½ round steak Two in One Cookies. sugar shortening eggs sour cream soda. baking powder sifted flour broken nut meats vanilla Cream sugar and shortening. add eggs and beat Stir in sour cream sift all dry ingredients together and add to Drop from spoon on baking and bake for fifteen minutes. Cut up two squares of chocolate and melt After half of the mixture has been baked add melted chocolate and cup raisins and drop as before and bake Elyria. MRS. E. REISING. English Chutney. 12 large ripe tomatoes large onions peppers, green, red apples Chop through coarse food chopper and add quart vinegar, cups su- Flour Bacon drippings 1 green pepper, chopped salt and pepper Have the steak cut to 11/2 inch thickness. Pound into the meat onehalf to cupful the flour. Season with salt and pepper. Place in ba. con drippings and fry enough to well on both sides. Then add tomatoes, and green pepper Cover. Place in the and bake for two hours 302 degrees Fahrenheit. With this steak baked potatoes are good. R. S. 1217 Cleveland Heights Boulevard Named Bank Receiver by U. S. WILMINGTON, Sept. 29 Harry Lanum. receiver in charge of the Citizens National Bank here. today was appointed by the United States of currency ceiver for First National Bank at Lynchburg, near here. which closed its doors last Wednesday. Lanum immediately took charge of the Highland County institution BY WINIFRED H. GOODSELL Miss Goodsell, the Plain Dealer's is one of series of are sings she sending from there, showing the newest styles favored by the fashion PARIS will see in the accompanying illustration garments sketched the House of Molyneux. and while they are not especially intended as an ensemmode the contrasting colors has rather done away with this type of costume-st they could worn together with very effect. The coat, an model of green the top of bodice and sleeves being corded in intricate mode The collar black broadtail the fur forming an effective contrast The frock is also an afternoon mode and fashioned of brocaded green satin Note how the terminate at the back of the skirt with an tendant fullness, this effect favored mode of the Winter.


Article from The Salem News, September 30, 1931

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Article Text

Name Bank Receiver WILMINGTON Sept. 30 Harry L. Lanum, receiver in charge of liquidation of the Citizens National bank here, has been assigned to similar duties in connection with the recent closing of the First National bank of Lynchburg. Highland county


Article from News Journal, June 15, 1932

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Article Text

LANUM TO SPEAK AT BANKERS MEET To Address Clermont County Group Next Wednesday Harry L. Lanum, receiver for the Citizens National Bank here and the First National Bank, at Lynchburg, will address the Clermont County Bankers Association at the annual meeting to be held in the high school auditorium at East Loveland Heights, next Wednesday night. He will speak on "Facts."


Article from News Journal, January 30, 1933

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Article Text

$11,447.95 IS COLLECTED FOR BANK DIVIDEND Statement of Liquidation Of Lynchburg Bank Filed By Receiver A report filed by Harry L. Lanum, receiver of the First National Bank of Lynchburg which closed September 22, 1931. with the Comptroller of the Currency U. S. for the period ending December 31, 1932 shows the depositors have received dividend of 50 per cent. on deposits and shows cash in the hands of the receiver and comptroller in amount of $11,447.95. The report shows that at the time the bank suspended the assets of the institution, book value, were $287,698.76; other assets, $2,192.04; stock assessment (100 per cent.) $50,000. The receiver has collected from the assets $118,241.92: cash collected from other assets $1,150; cash collected from the stock assessment $40,351,32, making a total in collections of $159,743.24 as against a total of assets, book value, to be accounted for of $339,890.80. Offsets allowed to date amount to $5,746.25; losses charged off to date $64,675.21; loss on stock assessment $1,016.08. The uncollected asset of the bank amounts to $99,048.11: other assets uncollected $1,029.31; uncollected on stock assessments $8,632.60, leaving a to tal remaining uncollected assets of $108,710.02. The total cash collected, including stock assessment, at the time of filing report shows $159,743.24; collected from rents, interest. etc., $4,935.81, a total of $164,679.05. Dividends paid by the receiver during the period amount to $30,549.75 (50 per cent); cash in the hands of the receiver and comptroller $11,-


Article from News Journal, March 6, 1933

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Article Text

ASSIGNED Former. Receiver of Bank Here Gets New Post Harry L. Lanum, former receiver the Citizens National Bank here the First National Bank Lynchburg, has gone to Ind., to take over the receivership the First National Bank in that city. Mr. Lanum served ceiver the Wilmington and Lynchburg banks until the trusts consolidated by order of the Comptroller of Currency last His family will remain Wilmington.