Article Text
Bank Receiver Files Suit on Stockholder W. R King, receiver for the First National bank of Sweetwater, has filed suit against A. E. Pistole, stockholder in the United States district court here. Pistole owned 24 shores of capital
18490. First National Bank (Sweetwater, TX)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 5781
- Charter Number
- 5781
- Start Date
- December 1, 1931*
- Location
- Sweetwater, Texas (32.471, -100.406)
Metadata
- Model
- gpt-5-mini
- Short Digest
128447de9610c139
Response Measures
None
Receivership Details
- Depositor recovery rate
- 57.1%
- Date receivership started
- 1931-12-14
- Date receivership terminated
- 1936-02-28
- Share of assets assessed as good
- 43.8%
- Share of assets assessed as doubtful
- 49.1%
- Share of assets assessed as worthless
- 7.2%
Description
Articles state the First National Bank of Sweetwater was closed in December 1931 and receivers were appointed. A receiver was active in 1932 (filing suit) and in 1933 receivers announced a dividend. No article describes a depositor run; this is a suspension resulting in permanent closure/receivership.
Events (5)
1.
April 18, 1901
Chartered
- Source
- historical_nic
2.
December 1, 1931*
Suspension
- Cause
- Government Action
- Cause Details
- Closed with the general closing of banks in December 1931 (bank holiday/closures); receivers appointed.
- Newspaper Excerpt
- receivers of the First National Bank here, December 1931.
- Source
- newspapers
3.
December 14, 1931
Receivership
- Source
- historical_nic
4.
September 23, 1932
Receivership
- Newspaper Excerpt
- W. R King, receiver for the First National bank of Sweetwater, has filed suit against A. E. Pistole, stockholder ...
- Source
- newspapers
5.
March 6, 1933
Receivership
- Newspaper Excerpt
- Coincident with the closing of all banks, receivers of the First National Bank here, December 1931, announced they were ready pay ... dividend
- Source
- newspapers
Newspaper Articles (2)
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Article Text
Closed Bank Ready To Pay Dividend By Associated Press Sweetwater, March 6.-Coincident with the closing of all banks, receivers of the First National Bank here, December 1931. announced they were ready pay cent dividend, totaling Twenty per cent had been paid previously.