22545. National Bank (De Pere, WI)

View Charter #6469 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6469
Charter Number
6469
Start Date
February 1, 1932*
Location
De Pere, Wisconsin (44.449, -88.060)

Metadata

Model
gpt-5-mini
Short Digest
019d4440

Response Measures

None

Receivership Details

Depositor recovery rate
54.2%
Date receivership started
1932-02-16
Date receivership terminated
1937-12-28
Share of assets assessed as good
22.2%
Share of assets assessed as doubtful
39.8%
Share of assets assessed as worthless
37.9%

Description

The National Bank of De Pere was closed by order of the directors on Feb. 15, 1932 and placed in receivership due to misappropriation/misconduct by cashier Omer M. Kiley. No contemporaneous run is described in the articles; the sequence is suspension/closure with receiver L. J. Bosworth handling liquidation, sale of property, legal actions, and dividend distributions in subsequent years.

Events (14)
1. October 23, 1902 Chartered
Source
historical_nic
2. February 1, 1932* Receivership
Newspaper Excerpt
Bosworth, receiver of the De Pere bank, found the bonds among the bank's assets. ... J. Bosworth receiver of the National bank of De Pere was turned over ... in settlement on the bond carried on the bank's former cashier, Omer M. Kiley.
Source
newspapers
3. February 15, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed discovery of large shortages and misappropriation by cashier Omer M. Kiley; criminal indictments and civil actions followed.
Newspaper Excerpt
When the bank was closed by order of the directors on Feb. 15.
Source
newspapers
4. February 16, 1932 Receivership
Source
historical_nic
5. March 3, 1932 Other
Newspaper Excerpt
First Statement of Condition of National Bank Issued. ... total liabilities ... forged notes ... receiver interviewing ... closing he admitted ... Kiley released bond ... statements discuss forged notes and liabilities.
Source
newspapers
6. March 9, 1932 Other
Newspaper Excerpt
CONFERS WITH KILEY REGARDING THE closed National of De Pere ... former De and cashier the bank, Omer M. Kiley ... the receiver ... discussions centered about Kiley might assist in untangling the bank's affairs.
Source
newspapers
7. May 18, 1932 Other
Newspaper Excerpt
$57,000 OF CLAIMS NOT FILED AGAINST CLOSED DE PERE BANK ... The receiver requests that depositors present claims ... When the bank was closed by order of the directors on Feb. 15.
Source
newspapers
8. May 25, 1932 Other
Newspaper Excerpt
BANK RECEIVER GETS $4,500 ON KILEY BOND ... a check for $4,500 ... turned over to J. Bosworth receiver of the National bank of De Pere ... payments on surety bonds for former cashier Kiley.
Source
newspapers
9. October 7, 1932 Other
Newspaper Excerpt
$119,000 CASH ON HAND FOR BANK'S CLAIMS ... statement issued today by the bank receiver L. J. Bosworth ... progress in the liquidation of the affairs of the closed bank is shown.
Source
newspapers
10. December 10, 1932 Other
Newspaper Excerpt
BAY BANKER IS BOUND OVER TO FEDERAL COURT ... Omer M. Kiley ... described some of the methods he used to conceal large shortages in funds of the De Pere bank.
Source
newspapers
11. October 23, 1933 Other
Newspaper Excerpt
APPROVE BID ON OF BANK SITE ... Judge F. A. Geiger authorizes sale to Frank Schumerth ... the bank, which was closed Feb. 15, 1932.
Source
newspapers
12. October 31, 1933 Other
Newspaper Excerpt
JUDGE GEIGER PRESIDES AT GREEN BAY HEARING ... opened hearing on actions to recover bonds from the closed National Bank DePere ... Omer Kiley ... testify under guard.
Source
newspapers
13. September 6, 1934 Other
Newspaper Excerpt
4TH DIVIDEND APPROVED FOR DE PERE BANK ... Payment of fourth dividend ... to creditors of the National Bank of De Pere is authorized by the comptroller of the currency ... liquidation proceeds being distributed.
Source
newspapers
14. October 11, 1934 Other
Newspaper Excerpt
$59,447 ON HAND AT DE PERE NATIONAL BANK ... Cash in the hands of the receiver ... total remaining uncollected assets amount to $230,067 ... collections since suspension Feb. 1932.
Source
newspapers

Newspaper Articles (13)
1. March 3, 1932 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, March 3, 1932

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Article Text

NO CHANGE IN ESTIMATE OF FORGED NOTES First Statement of Condition of National Bank Issued. DE on hand at the the National bank of De amounted only was revealed today the first relative the condition bank pension issued by the Bills including many admittedly forgeries by the who charged upwards and the jail the total the statement two with sets, than receivable and on the to total of the bank's and other represented in of assets Deposits the of $612 reached the unsecured as the Other liabilities are by by the bank pledge gating $25,800 as deposit pledge colbank aggregating money lateral the Federal Reserve bank. and the De Pere the latter is deposit total liabilities to Forgeries Total $188,000 occurred the No change of notes was learned forged this since the receiver gan interviewing no appear been the day the closing he admitted for. report submitted by the examforged and began going through other bank forgeries may not higher than the after signatures notes been and studied fully. the extent Kiley's defalcareach larger sum than $300,000. which the United States district attorney announced he had admitted. for the reason had not been for the Figures Until Mr. Kiley released bond the can affairs, the way of accurate will De people fear that Liberty and other negotiable paper the bank may not be located. all, of the bonds be deposit the vaults of Chicago they safer the deposit Kiley alone knows the whereabouts of such securities In the owners liberty bonds hold receipt from the cashattesting the that they were left at the bank. However, othhave receipt for entrusted to the cashier, it is said. BOND FURNISHED of Omer Kiley. De Pere charged with up to noon today The bond was reduced from $35,000 LEGAL NOTICES STATE WISCONSIN BROWN Wisconsin and Defendants CREDITORS OF THE COMPANY Wisconsin NOTICE hereby that Brown was entered whereby undersigned appointed the said are creditors said defendant become their claims tion hereby and debt over Courthouse and parties benefits judgment may ment. FRANK McGINN Wisconsin Dated March for Receiver STATE WISCONSIN FOR BROWN matter of the estate of and said fifth matter considered Hartmann admit Sylvester Hartmann late deceased with the annexed in hereby further given that And said and claims for and 2nd 1932 CARLTON STREHLOW & CRANSTON Attorneys

2. March 9, 1932 The Oshkosh Northwestern Oshkosh, WI
Article from The Oshkosh Northwestern, March 9, 1932

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CONFERS WITH KILEY REGARDING THE closed National of De Pere yesterday conferred Omer M Kiley, former De and cashier the bank, in here after about $100,000 of the funds. The receiver ed in his position. to state Howit was understood the discussions centered about Kiley might assist in untangling the bank's The banker held under $20,000 bond to await grand jury THREE BANKS OPEN. Stanley, banks closed several months ago because financial have opened for business in this territory. The institutions The Farmand Merchants bank. Stanley the Northwestern bank, Chippewa Falls, and the Bank Elk Elk Mound. Officials said the conditions the banks were such that "their communities will not suffer materially from the closings. The banks have been reorganized.

3. April 26, 1932 The Post-Crescent Appleton, WI
Article from The Post-Crescent, April 26, 1932

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KILEY PROFIT TO HELP PAY CLAIMS DePere Bank Receiver Sues for Made in Stock Transaction Milwaukee Omer M. Kiley, former mayor of DePere, charged with about $200,000 from the National Bank DePere made many futile ments the stock market, revealed circuit today, but deal there profit of and that sum will the claims against Kiley, cashier of bank. The profit was made through the the stock the National City bank New York, check for the money held here for Kiley the rine Exchange of the bank, the check, and in courts Kiley for naming the Marine National defendant. established he had judgment against Kiley note the bank. Otto H. to day ruled that the money held help satisfy that judgment. bank turned the check to Bosworth's Kiley, since his release from the of 000, has been assisting tangled affairs the DePere CANDIDATE FOR The office of Charles Crisp day made known that the distinguished Georgia had nounced as candidate for the senate.

4. May 18, 1932 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, May 18, 1932

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$57,000 OF CLAIMS NOT FILED AGAINST CLOSED DE PERE BANK Receiver Requests That Depositors Present Claims to Avoid Disallowance. DE PERE days remain filed against the National bank of De Pere. clos. Feb. and claims aggregating nearly not been filed by was said today the receiver, Bos worth. Those who have neglected file their claims asked by worth do without further delay. When the bank was closed by der of the directors on Feb. 15. after

5. May 25, 1932 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, May 25, 1932

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BANK RECEIVER GETS $4,500 ON KILEY BOND DE PERE-A check for $4,500 from the American Surety company, New York city, was turned over by the company's De Pere Agency, Smith and Smith to J. Bosworth receiver of the National bank of De Pere. yesterday afternoon in settlement in full on the bond it carried on the bank's former cashier. Omer M. Kiley. The American company is the second to meet its obligation by paying the amount of the cashier's bond. The first company paid $2,500. making total of $7,000 paid to date of the total carried by the cashier. One more company carried $3,500 and when that is paid the bank will receive total of $10,500 from surety companies. AUXILIARY TO MEET DE PERE-The American Legion auxiliary will meet tomorrow night at the Legion building. and the president. Mrs. Earl Walsh, and the secretary, Mrs. Louis Plog. will report on the ninth district conference held here last week. Plans will be completed for the sale of memorial poppies next Saturday. DE PERE PERSONALS Mrs. Kate Sullivan returned yesterday from St Mary's hospital, Green Bay, where she received treatments for five weeks She is at the home of James Manning, 918 Third-st Miss Nell Peters arrived from Milwaukee yesterday to spend a vacation here.

6. October 7, 1932 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, October 7, 1932

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$119.000 CASH ON HAND FOR BANK'S CLAIMS Over 80 Per Cent of Stock Assessment Paid to Date. DE PERE Cash amounting to $119,046.14 is in the hands of the comptroller of the currency to the credit of the National bank of De Pere, revealed in the latest quar terly statement issued today by the bank receiver. L. J. Bosworth. This statement shows the condition of the bank at the close of business Sept 30, and is as follows: Assets Bills receivable $639 699 Cash hand $5,019.25 on Assets other than bills receivable and cash on hand $168,312.60 Additional assets acquired Stock assessment $100,000.00 Total of all assets coming into the hands of receiver $946,141.0 Remaining Assets Uncollected Bills receivable $464,116.40 Assets other than bills receivable $124,551.15 Additional assets acquired Stock assessments $19,885.88 Total assets uncollected. $629,645.56 Liabilities Total claims proven on unsecured liabilities $551,689.50 Total unproven unsecured claims $26,380.87 Total additional liabilities proven $3,215.48 Total of all liabilities $581,285.85 Dividends paid during last quarter $110,765.21 Dividends paid prior thereto. None Total dividends paid to date $110,765.21 Cash on hand $119,046.14 Progress in the liquidation of the affairs of the closed bank is shown in the statement. The collection of stock assessments has reached total above $80,000. approximately 80 percent of the bank's capital, $100,000. An 80 percent collection is above the Since the statement of June 30. the amount paid by stockholders amounted to $20,219.15. leaving $19,885.88 unpaid. The total assets uncollected was reduced $70,539 56 in the last three months, and the bills receivable were reduced $56,026.67 in that period. The large amount of cash In reserve is being held pending the adjudication additional claims filed, it is understood.

7. December 10, 1932 The Daily Tribune Wisconsin Rapids, WI
Article from The Daily Tribune, December 10, 1932

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BAY BANKER IS BOUND OVER TO FEDERAL COURT PLEADS NOT GUILTY TO SEVEN CHARGES GROWING OUT OF MISAPPROPRIATION OF FUNDS OF DEFUNCT McCARTNEY BANK. Green Bay, Wis., Dec. 10-(P)Pleading not guilty to seven charges growing out of misappropriation of funds of the McCartney National Bank of Green Bay, Joseph H. Tayler, former president of the bank, will go on trial in federal court at Milwaukee next Wednesday. Bound Over Friday Tayler was arraigned and bound over late yesterday by Judge F. A. Geiger in a federal court session at which Omer M. Kiley, former cashier of the National Bank of DePere and former mayor of De Pere, described some of the methods he used to conceal large shortages in funds of the De Pere bank. James H. McGillan, attorney for Tayler, attempted to enter plea of nolle to a charge that the former bank president manipulated three worthless checks to conceal the true condition of accounts, contending the transactions were little more than customary banking practice and were carried out without intent to defraud. Argument Not Acceptable The argument was not acceptable to Edward Gehle, federal district attorney, and the plea was entered as not guilty. Kiley testified in a civil action to determine ownership of about $40,000 in bonds. He acknowledged that he is under indictment for misappropriating large sums, and told the court he testified knowing that his statements might be used in criminal action pending against him. To deceive bank examiners, Kiley said, he took bonds of individuals from safety deposit boxes and from other places of safe keeping and deposited them temporarily with assets of the bank. Receiver Finds Them L. J. Bosworth, receiver of the De Pere bank, found the bonds among the bank's assets. He claimed them for the institution, but later the owners demanded them. The civil action was brought to establish ownership, and Judge Geiger awarded them to the individuals who originally brought them to the bank for safe keeping. Kiley will be arraigned in Milwaukee Monday on a charge of misappropriating funds of the bank.

8. December 10, 1932 Wausau Daily Herald Wausau, WI
Article from Wausau Daily Herald, December 10, 1932

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Tayler Pleads Not Guilty to Charges In Green Bay Case Former President of McCartney Bank to go on Trial Wednesday at Milwaukee Green Bay, Dec. ing not guilty to seven charges growing out misappropriation of funds the McCartney National bank of Green Bay, Joseph H. Tayler. former president of .he bank, will go trial in federal court at Milwaukee next Wednesday Tayler arraigned and bound over late yesterday by Judge F. A. Geiger federal court session at which Omer M. Kiley, cashier the National Bank De Pere and mayor of De Pere, described some of the methods he used to large shortages in funds of the De Pere bank. Practice James H. McGillan, attorney for Tayler, attempted to enter a plea of nolle contendre to charge that the former bank lated three checks to ceal the true condition of contending the transactions were little more customary practice and carried out without intent to defraud. The was acceptable to Edward Gehle, federal district attorney. and the plea was entered as not guilty. Kiley testified in a civil action to determine ownership of about $40,000 in Londs. He asknowledged that he is under indictment for misappropriating large sums, and told the court he testified knowing that his statements might be used in criminal action pending against To deceive bank Kiley said, he took bonds of individuals from safety deposit boxes and from other places of safe keeping and deposited them temporarily with assets of the bank. Bonds Returned L. J. Bosworth, receiver of the De Pere bank, found the bonds among the bank's assets He claimed them for the institution, but later the owners demanded them. The action brought to establish ownership, and Judge Geiger awarded them to the individuals who originally brought them to the bank for safe keeping. Kiley will be arraigned in Milwaukee Monday charge of misappropriating funds of the bank.

9. December 11, 1932 Leader-Telegram Eau Claire, WI
Article from Leader-Telegram, December 11, 1932

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Green Bay Banker Pleads Not Guilty (By Associated Press) GREEN BAY, Wis., Dec. Pleading not guilty to charges growing out misappropriation funds the McCarthy National bank of Green Bay, Joseph H. ler, former president of the bank, will go on trial in federal court Milwaukee next Wednesday. Tayler arraigned and bound over late yesterday Judge Geiger federal court session which Omer Kiley, cashier the National Bank of De Pere former mayor of De Pere, described some the methods used conceal large shortages funds of the DePere bank. James H. McGillan, attorney Taylor, attempted to enter nolle charge the former bank president manipulated three worthless checks to ceal true condition accounts, contending the transactions were little more than customary banking practice and were carried out with out intent to defraud. The argument was not acceptable Edward Gehle, federal district attorney. the plea was entered guilty Kiley testified in civil action of about 000 in bonds He acknowledged that he under indictment for largo sums, the court testified knowing that statements might criminal action pending against him. To deceive bank examiners, Kiley said, he took bonds of individuals from safety deposit boxes and other places of safe keeping and posited them temporarily with the bank. Bosworth receiver of the bank, found the bonds among the bank's assets. He claimed them for the institution, but later the owners demanded them. The action was brought establish ership and Judge Geiger awarded them to the individuals ally brought them to the bank for Kilev will arraigned in Milwaukee Monday charge of misappropriating funds of the bank. had nothing on Clarence Smith's black crow. Among the bird's misdeeds police listed: Theft letter advising Maitland Palmer the death of his mother. Soiling woman's weekly washing pulling out all the clothes pins hung on line. Condemned to die, "Blackie" won reprieve Clarence tearfully premised to keep him locked up. It estimated that between twenty million meteorites the earth's surface every day. The hobby Gar boat racer, raising turkeys.

10. October 23, 1933 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, October 23, 1933

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APPROVE BID ON OF BANK SITE Judge F. A. Geiger Authorizes Sale to Frank Schumerth. DE PERE-Authority to sell the lot, building. fixtures and furnishings of the National bank of De Pere to Frank Schumerth was granted by Judge F. A. Geiger in federal court, Milwaukee, Saturday, to the bank receiver, L. Bosworth, according to Jerome R. North, the receiver's attorney. The bid of $10,000, submitted sevetal weeks ago by Mr. was not the date of the expiration notices by the receiver, and the sale to the De Pere furniture and undertaker was approved. Formal transfer of the property will shortly. it assumed, although Mr. Bosworth was not his office today to confirm such an Although Mr. Schumerth is buying the property of the bank, which was closed Feb. 15. 1932, it is not his intention to hold it, it is understood. Negotiations for the acquisition of the building and furnishings to the State bank of De had been discussed by the officers Mr. Schumerth filed his and understood that the are to meet at convenient this week further into the deal. The National bank building larger than the and occupied, by the State bank, contains greater vault space. Both properties are lo. cated the Broadway, between George and James-sts.

11. October 31, 1933 Beaver Dam Daily Citizen Beaver Dam, WI
Article from Beaver Dam Daily Citizen, October 31, 1933

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JUDGE GEIGER PRESIDES AT GREEN BAY HEARING GREEN Federal Judge Geiger, Milwaukee. day opened hearing on actions recover bonds from the closed National Bank DePere. The against Bosworth bank receiver allege certain bonds were placed the bank. for safekeeping and should not be considered as part the bank's assets. Omer Kiley, cashier now term at Leavenworth prison for the institufunds, was here der guard testify in the

12. September 6, 1934 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, September 6, 1934

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4TH DIVIDEND APPROVED FOR DE PERE BANK Compromise Offer of Directors to Be Heard Sept. 21, Report. DE PERE-Payment of fourth dividend. of per cent. to creditors of the National Bank of De Pere is authorized by the comptroller of the currency. according to announcement by the receiver. L. J. Bosworth, and it will distribute total of 436.90 to 1,120 claimants. In addition to this supplemental first second and third dividends will be paid on claims established since the payment of the last dividend making total distribution of one time This fourth dividend will make total of per cent to date payment all claims to creditors of on proved this bank, whose claims have face value of $668,737.06 Checks Being Signed Nearly $300.000 additional claims have been asserted against the bank since suspension, on account of the criminal acts of former cashier Omer M and the majority of these claims been allowed by the comptroller of the currency and the Federal funds are still being held final rulings on the remainder of claims under conWhen the receiver pays out the $53.to depositors, and other creditors, he will have distributed total of 49 since the initial dividend The checks, representing the fourth dividend have been completed in the receiver's and are now in Washington for auditing and signature of the comptroller, and estimated that this operation will two time. No checks will be delivered to creditors until later announcement is made by the receiver's office, after the receipt of the checks from Washington Directors Make Offer In connection with the liquidation the bank. the receiver announces that the directors have made compromise offer of settlement of claim which he instituted against them for negligence in the operation the National bank and that Judge Ferdinand A. Geiger, United States judge of will an open hearing in Federal at Green Bay Sept. 21 to determine or not the offer shall accepted Depositors, other creditors, and all interested parties may appear at the hearing and be heard while the petition of the receiver is under consideration it is announced Mr Bosworth would not state the amount of the compromise offer of the directors when queried this morning.

13. October 11, 1934 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, October 11, 1934

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$59,447 ON HAND AT DE PERE NATIONAL BANK DE PERE-Cash in the hands of the receiver of the National bank of De Pere and of the comptroller the currency amounts to it revealed in the latest statement of conditions of the bank just issued by the receiver, L. Bosworth does not include $10.000 which agreed recently to pay while making a compromise offer the receiver. Total remaining uncollected assets amount to $230,067 the statement shows The amount of cash collected from and stock assessment is since the receiver began functioning in February of 1932. the the bank suspended operation Collections from other est. premium, rent, etc., bring the total to $383,173.