First National Bank - Mineral Wells, TX

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5511
Charter Number: 5511
Start Date: September 13, 1934
Location: Mineral Wells, Texas (32.808, -98.113)

Metadata

Model: gpt-5-mini
Short Digest: 0ac0e6dc

Response Measures

None

Receivership Details

Depositor recovery rate: 10.0%
Date receivership started: 1933-10-27
Date receivership terminated: 1935-10-31
Share of assets assessed as worthless: 100.0%

Description

Article (Fort Worth Star-Telegram, 1934-09-13) states the First National Bank of Mineral Wells is closed, assets being liquidated, and a receiver (John A. Best) is pursuing judgments. No mention of a depositor run in the provided text. Therefore classified as a suspension leading to permanent closure with receivership.

Events (5)

1. July 20, 1900 Chartered

Source: historical_nic

2. June 9, 1931 Voluntary Liquidation

Source: historical_nic

3. October 27, 1933 Receivership

Source: historical_nic

4. September 13, 1934 Receivership

Newspaper Excerpt: Judgment for $47,900 ... is asked in petition filed Federal Court here Thursday ... by John A. Best, receiver of the bank. The assets of the bank are being liquidated.
Source: newspapers

5. * Suspension

Cause Details: Bank is closed and assets are being liquidated; article does not state trigger or reason for closure.
Newspaper Excerpt: the closed First National Bank of Mineral Wells, is asked in petition filed Federal Court here Thursday ... The assets of the bank are being liquidated.
Source: newspapers

Newspaper Articles (1)

1. September 13, 1934 Fort Worth Star-Telegram Fort Worth, TX

Article from Fort Worth Star-Telegram, September 13, 1934

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Article Text

BANK RECEIVER ASKS JUDGMENT OF $47,900 Judgment for $47,900. the amount levy by the Comptroller of the Currency against 479 shares stock the closed First National Bank of Mineral Wells, is asked in petition filed Federal Court here Thursday against Williams of MinerWells by John A. Best, receiver of the bank. The assets of the bank are being liquidated. The petition asserts Williams recorded as the owner of bank stock, that the Comptroller has issued assessment against the stock and that it paid.