Article Text
Bank Receiver Appointed PHARR, Nov. 20-(Sp)-W. W. Collier of Edinburg has been appointed receiver for the defunct First Na ional bank of Phare and liquidatio: is scheduled to start soon, according to reliable reports here today.
18449. First National Bank (Pharr, TX)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 10169
- Charter Number
- 10169
- Start Date
- November 20, 1931
- Location
- Pharr, Texas (26.195, -98.184)
Metadata
- Model
- gpt-5-mini
- Short Digest
460b1103f768b591
Response Measures
None
Receivership Details
- Depositor recovery rate
- 33.0%
- Date receivership started
- 1931-11-12
- Date receivership terminated
- 1937-08-20
- Share of assets assessed as good
- 20.8%
- Share of assets assessed as doubtful
- 63.4%
- Share of assets assessed as worthless
- 15.9%
Description
Newspapers report the First National Bank of Pharr as defunct and a receiver appointed (liquidation scheduled). No article mentions a depositor run; only receivership/closure is reported. Article 1 contains OCR errors (Na ional -> National, Phare -> Pharr). Article 2 (1935) shows a successor receiver named, indicating the bank remained closed. Suspension is not explicitly described in the clippings, but the bank was closed and placed in receivership, so I classify as suspension_closure.
Events (4)
1.
April 2, 1912
Chartered
- Source
- historical_nic
2.
November 12, 1931
Receivership
- Source
- historical_nic
3.
November 20, 1931
Receivership
- Newspaper Excerpt
- W. W. Collier of Edinburg has been appointed receiver for the defunct First National bank of Pharr and liquidation is scheduled to start soon.
- Source
- newspapers
4.
February 13, 1935
Receivership
- Newspaper Excerpt
- Ben Freudenstein ... has been named also as receiver for the defunct First National Bank of Pharr. He succeeds W. W. Collier, former state banking commissioner.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner.