First National Bank - Aurora, IL

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 38
Charter Number: 38
Start Date: July 6, 1932
Location: Aurora, Illinois (41.761, -88.320)

Metadata

Model: gpt-5-mini
Short Digest: 22f7f196

Response Measures

Full suspension

Other: Directors voted to close the bank due to steady withdrawals; closure appears permanent (receiver not explicitly named in the short wire story).

Receivership Details

Depositor recovery rate: 36.9%
Date receivership started: 1932-08-12
Date receivership terminated: 1938-05-28
Share of assets assessed as good: 1.0%
Share of assets assessed as doubtful: 19.0%
Share of assets assessed as worthless: 79.9%

Description

Article reports steady withdrawals (a run) and that directors voted to close; bank failed to open on July 6, 1932 and remained closed (no reopening mentioned). Cause for withdrawals not specified in the article, so classified as 'other'.

Events (5)

1. July 25, 1863 Chartered

Source: historical_nic

2. September 25, 1931 Voluntary Liquidation

Source: historical_nic

3. July 6, 1932 Run

Cause Details: Steady withdrawals reported by directors; article gives no specific trigger (rumor, correspondent failure, or macro cause not specified).
Measures: Directors voted to close the bank (failed to open on July 6).
Newspaper Excerpt: The closure was voted last night by the directors, who said it was necessary because of steady withdrawals.
Source: newspapers

4. July 6, 1932 Suspension

Cause Details: Directors voted to close the bank because of steady withdrawals; bank failed to open on July 6, 1932.
Newspaper Excerpt: The First National Bank of Aurora failed to open today. The closure was voted last night by the directors...
Source: newspapers

5. August 12, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. July 6, 1932 Evening Star Washington, DC

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Article Text

ILLINOIS BANK CLOSED. AURORA, Ill., July 6 (AP).-The - First National Bank of Aurora failed to open today. The closure was voted last night by the directors, who said it was necessary because of steady withdrawals. The bank was the largest in Kane County and the second of Aurora's five to close. Its deposits June 30 were $2,886,050.