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
21288. 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
94168cb0
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
The articles show the First National Bank of Sweetwater closed in December 1931 (coincident with statewide bank closings) and placed in receivership; no run is described and the bank remained closed with a receiver pursuing actions (suit filed Sept 1932) and paying a dividend in March 1933. Cause classified as government action because closure coincided with the closing of all banks.
Events (5)
1.
April 18, 1901
Chartered
- Source
- historical_nic
2.
December 1, 1931*
Suspension
- Cause
- Government Action
- Cause Details
- Bank closed in December 1931 coincident with the closing of all banks (statewide banking holiday/closures).
- 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 on stockholder ... United States district court here.
- Source
- newspapers
5.
March 6, 1933
Other
- Newspaper Excerpt
- Closed Bank Ready To Pay Dividend ... receivers of the First National Bank here ... announced they were ready pay ... dividend, totaling twenty per cent had been paid previously.
- 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.