3432. City National Bank (Jerome, ID)

View Charter #11578 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11578
Charter Number
11578
Start Date
May 10, 1923
Location
Jerome, Idaho (42.724, -114.519)

Metadata

Model
gpt-5-mini
Short Digest
73913dad0065fc26

Response Measures

None

Receivership Details

Depositor recovery rate
55.0%
Date receivership started
1923-05-24
Date receivership terminated
1928-03-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
42.1%
Share of assets assessed as doubtful
27.0%
Share of assets assessed as worthless
30.9%

Description

Articles state City National Bank of Jerome suspended business some time ago (reported in 1923) and is later listed among failed banks whose receiver (W. A. Heiss) has resigned (article 1926). Exact suspension date is not given; by 1926 receivership/closing activity was underway under a different receiver. Classified as suspension leading to permanent closure/receivership.

Events (4)
1. January 16, 1920 Chartered
Source
historical_nic
2. May 10, 1923 Suspension
Cause
Government Action
Cause Details
Article notes the bank suspended business some time ago; subsequently placed under receivership, indicating regulatory/official suspension of payments.
Newspaper Excerpt
the City National Bank of Jerome, which banks suspended business some time ago.
Source
newspapers
3. May 24, 1923 Receivership
Source
historical_nic
4. June 17, 1926 Receivership
Newspaper Excerpt
The receiverships which Mr. Heiss resigns are the ... City National of Jerome. ... C. O. Thomas, a national bank receiver of Pocatello, Idaho, will have charge in closing up the remaining business of the institutions.
Source
newspapers

Newspaper Articles (2)
1. May 10, 1923 Payette Enterprise Payette, ID
Article from Payette Enterprise, May 10, 1923

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Article Text

The Federal Reserve Bank of San Francisco has transferred Mr. J. B. Watts from Payette to Jerome and Wendell where he will look after the interests of the Salt Lake branch in the First National Bank of Wendell, and the City National Bank of Jerome, which banks suspended business some time ago. He is succeeded by Mr. H. W. Champneys, who is also looking after the interests of the Federal Reserve Bank in the First National Bank and United States National Bank of Vale, which banks suspended operations some time ago. Mr. Champney's headquarters will of necessity be at Vale, but he expects to spend the first week of each month at Payette for the purpose of transacting business. His office while In Payette will be in the Payette National Bank.

2. June 17, 1926 South Idaho Press Burley, ID
Article from South Idaho Press, June 17, 1926

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Article Text

Receiver of Local Bank Has Resigned W. A. Heiss has resigned as receiver of several failed Southern Idaho banks and C. O. Thomas. a national bank receiver of Pocatello, Idaho, will have charge in closing up the remaining business of the institutions. The receiverships which Mr. Heiss, resigns are the First National Bank of Burley, First National Bank of Rupert, First National Bank of Wendell and City National of Jerome. First National Bank of Burley, elosed November 19th, 1921. Mr. Heiss appointed receiver May 28, 1925. Divinone. As the Wendell and Burley banks assets were sold some time ago, the affairs of these two banks are practically ready to be closed.