First National Bank (Jefferson City, MO)

View Charter #1809 on SPMC View balance sheet

Episode Information

Episode UID
180901586
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
18090 national
Charter Number
1809
Start Date
February 18, 1932
Location
Jefferson City, Missouri

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2ec78760708121ea

Response Measures

None

Receivership Details

Depositor recovery rate
63.2%
Date receivership started
1933-08-10
Share of assets assessed as doubtful
49.7%
Share of assets assessed as worthless
50.3%

Description

OCR errors in articles; dating and some phrases uncertain.

Events (6)
1. April 8, 1871 Chartered
Source
historical_nic
2. February 18, 1932 Other
Newspaper Excerpt
absorption by the Exchange National the First National proceeded through the tangle ... stock offer oversubscribed to take care of possible errors and leaders the plan for the absorption by the Exchange National the First National proceeded ... elect ... charge the drive . Details of the absorption were beworked by the executive committee working with ofof the two
Source
newspapers
3. February 18, 1932 Suspension
Cause
Local Banks
Cause Details
Depositors were jumpy following recent closings of other local banks, prompting a declared banking holiday and the First National to close for a week during absorption by the Exchange National.
Newspaper Excerpt
announced would be effected merger National Bank the Exchange ... declared holiday
Source
newspapers
4. February 19, 1932 Reopening
Newspaper Excerpt
All the banks were expected open ... Tomorrow at morning o'clock meeting of the stockholders ... Reports will be made ... The subscribers will have charge the meeting ...
Source
newspapers
5. March 28, 1932 Voluntary Liquidation
Source
historical_nic
6. August 10, 1933 Receivership
Source
historical_nic

Newspaper Articles (3)
1. February 18, 1932 The Missourian Harrisonville, MO
Article from The Missourian, February 18, 1932

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Article Text

IS WITHOUT CLINTON BANKING HOUSE A Bank for Week Faris Closed Give People Time Decide if They Want Bank. Following on the Brinkerbank Clinton that closed for week institution was The matter of Faris, president the the wealthiest men one section of state, told the people that said to have they didn't bank didn't care, he Clinton he for week closed the for them to "make up order their minds.' has long been figMr. Faris Western Missouri and candidate the prohibition party's for president few years ago. known for The bank has one of the strongest years as institutions the state nancial made on the bank was The been for resulted from the jumpy and depositors following nerves of the other closing few days ago of bank there. holiday was also banking Jefferson few augurated the First National ago when that order to announced would be effected merger National Bank the Exchange week's banking that therefore declared holiday was much of the during which of Jefferson City business through the state being done office. troubles have Similar banking Another banks failed open Monday for have indeed county banks the been bank for not closed Cass stress through which the during the been passing The Strasburg years. closed few months bank which considerable evidence ago bears wrecked from the that side anything about we know banks all Allen Banking The Citizens NatCompany and in splendid condiional Bank weather storm tion and can much worse than the one through passing. For which are now of should be which We of county mighty begin to realize Cass solidity banks what the because we have not mean through bank recently passed failing period some other Over Sedalia are told restrictions have put on check writing of the size of the deposit gardless checked against works but which great Here of self an Cass whatever no have been inaugurated.

2. February 19, 1932 Jefferson City Post-Tribune Jefferson City, MO
Article from Jefferson City Post-Tribune, February 19, 1932

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Article Text

CITY EXPECT TO OPEN UP ON TUESDAY Cantley, State Commissioner of Finance, Advises People of State To Keep Cool In Such Times of Stress. BANKS OPERATE IS TOLD BY OFFICIAL Support of All Financial Institutions of the City Is Asked By Civic Leaders As Normalcy Returns To City. With the bank stock offer sufficoversubscribed to take care of possible errors and leaders the plan for the obsorption by the Exchange National the First National proceeded through the tangle dethat must necessarily accompproposition of such magniAll the banks were expected open those charge of detail work continue make the progress the days they were able today. Tomorrow at morning o'clock meeting of the stockholders held the Junior College audiReports will be made charge the drive. The subscribers will have charge the meeting and will elect chairDetails of the absorption were beworked by the cutive committee working with ofof the two Must Keep Cool Leaders today stressed the imthe Mayor Henry Asel today issued proclamation upon all the business houses of Monday holiday. All the stores and business houses will closed and program for the celebration of Washington's the victory the bank organization being worked out was talk of parade well as public meeting the school auditorium Monday missioner statement issued tosummed up the banking situaand need for confidence. Cantley said: Cantley's Statement "None of know any too much and most know Some folks think that they deposit twenty dollar bank tagged and, when they call for money year identical bill back. paid Others thinks that bank has should have its vaults at times money to pay all deposThese are crude notions about now Banks vehicles through which surplus money finds into the chanof business. State in by law required to keep hand deposit with banks not to exceed deposits and, addition. time deposits. To bank has demand deposamount time detotal deposit account required to have on hand and due from banks and only for penalty insufficient reserve to make loans until the reserve again restored. In the ordinary course of business has been found to sufficient certainly would not care run bank. bank considered insolvent when it meet demands made upon it in the course and by the public generally adjudged insolvent forced close regardless of the cause for closing. This may or not be may true, but forced and dergo forced liquidation, though solvent going concern, most likely liquidate insolvWhen bank closes its doors and its assets converted into cash through liquidation, minute closed for that purpose the value assets shrink from 25% Why? Let illustrate: The has mortgage on farm city property. The property either case worth under ordinThe and considered good. In liquidation these properties may probably will to be sold bidder for cash and times like these would scarcely bring each. The result heavy It nearly alway tragic force banks, individuals or companies into receivership avoided, that exactly what Jefferson City and Jefferson City people are trying to avoid now. Must Be Calm "Much has been made, much, of what said at public Saturday February asked if considered the

3. March 9, 1933 Mound City News-Independent Mound City, MO
Article from Mound City News-Independent, March 9, 1933

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Article Text

CITIZENS CALM DURING EMERGENCY Exchange Bank Suspended Operations In Conformity Presidential Proclama- tion. The Banks of Holt County suspended normal morning to conform Saturday with state wide holiday order a issued by Governor Guy Park. for Since that time President of Roosevelt has issued a proclamation all the banks closing the United States for a period ending Friday, March 10. The local banks have followregulations ordering them laid down by the secreclose, of the treasury. Some have tary remained open during regular hours for the purpose banking of making change. There is no cause for any alarm the local regarding tion as all the Holt County banks are believed to be in cellent condition. has been convened Congress special session beginning today (Thursday) and acnoon cording to radio reports have legislation conferring passed extraordinary to Presipowers dent Roosevelt, trol all banks until this emeris safely past. The spirit fortitude and patience with which the people this community and the tire has reacted to the country bank holiday, has emergency been surprising. individuals and busiMany houses found themselves ness with small amount of only hand when the currency on bank went into effect. holiday St. Business has been retarded to extent. Merchants some most cases have accepted checks for the exact amount but have been purchases tant to let loose of any currenor silver in change. Bank here The Exchange to be strong as known is anywhere, and bank there must be attributed its closing solely to the the nation. ditions throughout thing that Now the only to await the order to with patience banks after the the open and regulational adjustments formulated and tions have been issued.