First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8338
Charter Number: 8338
Start Date: March 4, 1926
Location: Alma, Wisconsin (44.320, -91.915)

Metadata

Model: gpt-5-mini
Short Digest: 302e1774

Response Measures

None

Receivership Details

Depositor recovery rate: 32.7%
Date receivership started: 1924-11-07
Date receivership terminated: 1933-06-01
OCC cause of failure: Governance
Share of assets assessed as good: 34.8%
Share of assets assessed as doubtful: 26.1%
Share of assets assessed as worthless: 39.2%

Description

Article (Mar 4, 1926) reports W. G. Moller as receiver for the First National Bank of Alma and describes the receiver suing on a note. No run or explicit suspension is described, but the presence of a receiver indicates the bank has been closed and placed in receivership; classified as suspension_closure (permanent closure/receivership).

Events (3)

1. August 27, 1906 Chartered

Source: historical_nic

2. November 7, 1924 Receivership

Source: historical_nic

3. March 4, 1926 Receivership

Newspaper Excerpt: W G. Moller, receiver for the First National Bank of Alma, sought to recover the sum of $75 ... The jury reported a disagreement.
Source: newspapers

Newspaper Articles (1)

1. March 4, 1926 The Winona Daily News Winona, MN

Article from The Winona Daily News, March 4, 1926

Click image to open full size in new tab

Article Text

Alma Bank Receiver Sues on Note; Jury Disagrees; New Trial Alma. March 4.-A suit on a promissory note in which W G. Moller, receiver for the First National Bank of Alma, sought to recover the sum of $75. with Interest from April 18, 1922. the date of the signing. from C. F. Passow of the town of Alma. was tried before Justice of the Peace J. A. Gans at the city hall. The defendant admitted signing the note, but alleged that he signed It under the impression that It was receipt for payment for milk delivered to the Alma Dry Milk company Attorney R. P. Ahlstrom of La Crosse appeared for the plaintiff and A. A. Neumeister, of St. Paul, for the defendant. A jury of six were sworn. five votes being necessary for a verdict. The jury reported a disagreement. The Justice set the time of hearing the case again for Saturday March 13 The case had been set for trial several times before. but had been adjourned because of physical disability of the defendant.