American National Bank - Marshfield, WI

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 5437
Charter Number: 5437
Start Date: December 7, 1932
Location: Marshfield, Wisconsin (44.669, -90.172)

Metadata

Model: gpt-5-mini
Short Digest: bd3536bb

Response Measures

None

Other: Article describes community concern after two local banks closed; American National remained open and attracted new accounts. No run or suspension at American National is described.

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1934-05-23
Date receivership terminated: 1937-12-15
Share of assets assessed as good: 76.4%
Share of assets assessed as doubtful: 19.9%
Share of assets assessed as worthless: 3.7%

Description

Article (Dec 7, 1932) describes heavy depositor interest and concern after two local banks closed; crowding of the lobby and depositors conferring with tellers but largely leaving without withdrawals. The bank remained open and solicited cooperation. Cause linked to failures of other local banks.

Events (3)

1. June 18, 1900 Chartered

Source: historical_nic

2. December 7, 1932 Run

Cause: Local Banks
Cause Details: Shock from closing of two other local banks in the community prompted heavy depositor concern and crowding at the American National.
Measures: Bank officials publicly reassured depositors and asked for their cooperation; encouraged opening of new accounts; officials counseled patrons at tellers.
Newspaper Excerpt: Closing of two banks in community comes as shock to depositors of all three banks, said Spalding... at time today was the American bank lobby overcrowded and for the most part, there was every appearance of the usual routine.
Source: newspapers

3. May 23, 1934 Receivership

Source: historical_nic

Newspaper Articles (1)

1. December 7, 1932 Marshfield News-Herald Marshfield, WI

Article from Marshfield News-Herald, December 7, 1932

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Article Text

American National Asks Depositors to Co-operate The American National bank will be able to weather the storm which caused two local banks to close, providing the bank has the co-operation of its depositors and the community, it was announced at this afternoon officials of the institution. "Closing of two banks in community comes as shock to depositors of all three banks," said Spalding, vice-president and cashier of the American. are giving our stockholders and depositors assurance that with their co-operation our bank will remain open. We are delighted with the response of depositors, stockholders and the business men of the community." At time today was the American bank lobby overcrowded and for the most part, there was every appearance of the usual routine. Depositors conferred with tellers and bank officials and left, for the most part, without making withdrawals, said bank officials. Patrons of the bank, business men and farmers all expressed the conviction that the American National bank would weather the storm, and large number of patrons of closed banks opened new checking accounts in the American, thereby indicating their hope and confidence in safety. must have bank in Marshfield," said one depositor. have checking and savings accounts here and am keeping them here." not scared of the bank," said William Burhopp, well known Richfield farmer, as he made deposit just before noon. Other farmers and business men showed him their new deposit slips, indicating their confidence.