17795. First National Bank (Wauseon, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
7091
Charter Number
7091
Start Date
August 20, 1931
Location
Wauseon, Ohio (41.549, -84.142)

Metadata

Model
gpt-5-mini
Short Digest
97f7f3c0

Response Measures

None

Receivership Details

Depositor recovery rate
69.0%
Date receivership started
1931-08-22
Date receivership terminated
1938-04-29
Share of assets assessed as good
33.8%
Share of assets assessed as doubtful
59.8%
Share of assets assessed as worthless
6.4%

Description

Articles report the First National Bank of Wauseon had closed doors two weeks ago (article dated 1931-09-03) and depositors met to reorganize; by 1932 a receiver of the First National Bank of Wauseon is mentioned. No explicit contemporaneous run is described in the texts provided, and a receiver is referenced, supporting suspension followed by permanent closure/receivership.

Events (5)

1. January 9, 1904 Chartered
Source
historical_nic
2. August 20, 1931 Suspension
Cause Details
Article states the bank closed doors two weeks ago but gives no specific cause (no explicit run, insolvency reason, or government action described).
Newspaper Excerpt
Hundreds of people this community, depositors First National bank which closed doors two weeks ago, in the court room the court house here Monday afternoon
Source
newspapers
3. August 22, 1931 Receivership
Source
historical_nic
4. September 3, 1931 Other
Newspaper Excerpt
The plan urges depositors agree to leave their accounts at the bank for period of one two years, with the idea of readjusting the bank's finances so that depositor will forced to take loss. Under this plan withdraw would not be permitted except acute approved by the ... committee to formulate some logical plans which may be carried out.
Source
newspapers
5. September 16, 1932 Receivership
Newspaper Excerpt
receiver of the First National Bank of Wauseon, cognovit note $2,713.75.
Source
newspapers

Newspaper Articles (2)

Article from Fulton County Expositor, September 3, 1931

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Article Text

DISCUSS PLANS TO REORGANIZE NATIONAL Depositors of Institution Gather At Court House Monday COMMITTEE FOR DEPOSITORS NAMED Five Men Endeavoring to Formulate Reopening Plan Hundreds of people this community, depositors First National bank which closed doors two weeks ago, in the court room the court house here Monday afternoon response to notice published the directorate of the bank. Judge Fred Wolf, president the closed institution, called meeting order and after dressing the assembled throng that chairman pointed one of their handle the business of the Frank H. Reighard was nominated Miss Bess Wilson, the chairman in turn named nominating committee to point members to serve mittee to represent the depositors in an endeavor formulate some plan to reorganize the First National bank. suggestion by Dr. was made motion Davis Johnson that the nominating committee name five who would serve to represent the depositors to work the directors of closed reorganize or the assets of the bank. The following were named committee: Frank Reighard, W. Evers, Wm. Lloyd Edgar and Warren Leist. The comprised Harry Merrill, Fred BrinkBert McLain, Davis Johnand Dr. Evers. The plan urges depositors agree to leave their accounts at the bank for period of one two years, with the idea of readjusting the bank's finances so that depositor will forced to take loss. Under this plan withdrawwould not be permitted except acute approved by the be subto the approval of the compcurrency, committhe office of Lloyd Edgar with an idea to formulate some logical plans which may be carried out.


Article from The Republican, September 16, 1932

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Article Text

WAUSEON Enrollment in Schools Show Increase THE BEGINNERS Vacation is over and the boys and of vicinity in school. And what fine folks they Hundreds corner day going to and from school room. have missed them all this summer and glad they back with True of them gone, them, but graduation arated them from the old school. their have come others and places thus the stream life flows rests in the hands serious the school teachers, they their share preparing the the complexities youngsters the world. Fairness, impartiality, virtues which honesty, morality given full development. discerning eye human frailties quickly picks up traits. And the children go to school for the today to prepare far distant of laws and the afmaking fairs standard of Christian living ing and thinking. end much the character of pends teacher instruction. Larger Enrollment The schools start largest they have had several years. The first day 404 pupils were enrolled the upgrades 349 in the lower. year the enrollment the first 377 and 309. shows day was 27 in the high school and the lower grades over what ago. four grades there upper 144 boys 150 girls. At the high school building there 16 teachers including Supt. Schwall, the grade building there teachers including Supt. John King. The Beginners One of the not forgotten life first day of the big days and school. one not take second place graduation. the mothers an portant day for then she child slipping from her and world. Tears the thought that come the not start school made but with was pride child has opportunity. are 56 pupils rolled school year for first time. Miss Brown's room 15 and girls while there are Baer's there 13 Miss boys, making 29 boys girls and 27 girls attending the first time their school for lives. The names those in each of the rooms follows: Miss Brown's Room Herbert Paxson. Richard Pontious, Frederick Glen Robinson, Randall Roddy, Robert Ruhlin, Frank Roger Seidner, Marion Schwanger, Sowers, Charles John Weber, Eugene Wulff, Wulff, Eugene Violet Llovd Moll, Alice Porter. Betty Quinton, Carol Schwall, Betty Reynolds, Ilean Simon, Louise Steinbrecher, Lucile Stoll, Nora Turpening, RoseUfer. Ruth Wagoner, Phyllis mary Doris Wilkie and Bertha Mae Baer's Room Juanita Baer, Dorothy Barnes, Eloise Bates, Helen Batdorf, Jane Blair, Evelyn Borton, Lois Jean Donna Hines, Opal Frank, Juleen Jones, Donna Marie Alice McConkey, Weldon Belleville, Burlinson, Joseph Gillen, Goodwin, Jimmv Gype, Junior Johnson. Robert Gomer, Raymond Johnson, John Kohl, Jones, David Junior Lucas, John Lawrence Donald Nofzinger. payment mortgage deed was given certain lands Gorham townand that said notes there $1,015.95 The plaintiff states that the terms the contract have not complied asks that mortgage foreclosed, the property the proceeds apthe payment the debt. Superintendent Ohio State Banks the Home Savings Bank Metamora, brings the following collect the amounts on Burroughs, B. Clara Crockett, $516.94; Frank Ford receiver of the First National Bank of Wauseon, cognovit note $2,713.75. Mary O'Neil Linehan admr. al, of real estate. The plaintiff savs that court order Thomas O'Neil ordered pay the plaintiff $2,700 of $300 that said order there due the plaintiff from the estate Thomas the of $2,100. insure the payment mortgage deed certain lands Amboy township. She asks that her claim allowed and ordered paid. Bishop vs Helen Lambert, only, amount $455. The says there him from the for medical vices the defendant from Dec. 1930 Sept. 1931 balance $455. for which judgment is asked.