3948. City National Bank (Jerome, ID)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11578
Charter Number
11578
Start Date
May 1, 1923*
Location
Jerome, Idaho (42.724, -114.519)

Metadata

Model
gpt-5-mini
Short Digest
b30f3301

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 report City National Bank of Jerome 'suspended business some time ago' (reported May 10, 1923) and later is listed among failed banks whose receiver (W. A. Heiss) resigned (article June 17, 1926). No run is mentioned in the articles. Suspension preceded a receivership/closure.

Events (4)

1. January 16, 1920 Chartered
Source
historical_nic
2. May 1, 1923* Suspension
Cause Details
Article only notes the bank 'suspended business some time ago' without giving a cause.
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 First National Bank of Burley, First National Bank of Rupert, First National Bank of Wendell and City National of Jerome.
Source
newspapers

Newspaper Articles (2)

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.


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.