First National Bank - Rockwall, TX

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3890
Charter Number: 3890
Start Date: January 11, 1894
Location: Rockwall, Texas (32.931, -96.460)

Metadata

Model: gpt-5-mini
Short Digest: 313af409

Response Measures

None

Receivership Details

Depositor recovery rate: 35.0%
Date receivership started: 1892-07-20
Date receivership terminated: 1896-03-31
OCC cause of failure: Fraud
Share of assets assessed as good: 14.3%
Share of assets assessed as doubtful: 36.2%
Share of assets assessed as worthless: 49.6%

Description

Newspaper reports (Jan 11-13, 1894) indicate the Comptroller's receiver (George D. Morgan) was handling the 'complicated condition' of the First National Bank of Rockwall; a receiver was appointed suggesting the bank failed/was closed by government action. No article mentions a depositor run.

Events (4)

1. May 29, 1888 Chartered

Source: historical_nic

2. July 20, 1892 Receivership

Source: historical_nic

3. January 11, 1894 Receivership

Newspaper Excerpt: The Failed National Bank Washington, January 11.-Geo. Morgan, receiver of the Ninth National at Dallas and the First National Rockwall, was here today in consultation with Comptroller Eckles ... returned home.
Source: newspapers

4. January 13, 1894 Suspension

Cause: Government Action
Cause Details: Comptroller involvement and appointment of a receiver (George D. Morgan) due to 'complicated condition' of the bank's affairs.
Newspaper Excerpt: George D. Morgan, receiver of the Ninth national bank at Dallas and the First national bank of Rockwall, was here today in consultation with Comptroller Eckles over the complicated condition of the affairs of the two banks.
Source: newspapers

Newspaper Articles (2)

1. January 14, 1894 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, January 14, 1894

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Article Text

TEXAS BANKS. Special Dispatch. Washington, Jan. 13.-George D. Morcan. receiver of the Ninth national bank at Dallas and the First national bank of Rockwall, was here today in consultation with Comptroller Eckles over the complicated condition of the affairs of the two banks. It is no secret that Morwan also has communications to make to the department of justice, which are intended to more materially settle affairs, Chandler and Williams. officers of the Rockwall bank. who were here to see the comprroller last week., have returned home.

2. January 14, 1894 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, January 14, 1894

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Article Text

The Failed National Bank Washington, January 11.-Geo. I gan, receiver of the Ninth National at Dallas and the First National Reekwall, was here today in consi with Comptroller Eckeis over the cated condition of affairs of thes banks. It is no Secret that Morgan has communications to make to to partment of justice which are Intends more materially settle the affairs Messrs. Chandler and Williams, ficers of the Rockwall bank wb here to see the comptroller las have returned home.