First National Bank - Beason, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10572
Charter Number: 10572
Start Date: March 1, 1933*
Location: Beason, Illinois (40.144, -89.193)

Metadata

Model: gpt-5-mini
Short Digest: e61eb51e

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-09-29
Date receivership terminated: 1935-03-07
Share of assets assessed as good: 49.8%
Share of assets assessed as doubtful: 46.9%
Share of assets assessed as worthless: 3.3%

Description

Articles state the bank remained closed except for new deposits after the March 1933 moratorium and that the Comptroller appointed a receiver (G. W. Ohmes) on/around Oct 3, 1933; the bank will be liquidated and pass out of existence. No run is described in the articles. I infer the suspension was tied to the national bank moratorium (government action).

Events (4)

1. July 1, 1914 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: The bank remained closed following the national bank moratorium in March 1933; operations were limited (only new deposits accepted).
Newspaper Excerpt: has not reopened except for new deposits since the bank moratorium
Source: newspapers

3. September 29, 1933 Receivership

Source: historical_nic

4. October 3, 1933 Receivership

Newspaper Excerpt: G. W. Ohmes ... appointed receiver of the First National bank of Beason by the comptroller of currency ... Under the receivership the Beason bank will be liquidated and will pass out of existence as there are no plans or intentions of organizing new bank(s).
Source: newspapers

Newspaper Articles (3)

1. October 3, 1933 The Pantagraph Bloomington, IL

Article from The Pantagraph, October 3, 1933

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Article Text

BEASON BANK GETS RECEIVER G. W. Ohmes, Lincoln, Given Appointment--Plan Liquidation. Pantagraph Central Illinois Service. W. Ohmes, of Lincoln, former assistant cashof the American National bank, Monday appointed receiver the First National bank of Beason by the comptroller of currency at The of Whitnah, cashier of the bank, which has been in effect since soon after the bank moratorium March ended with the appointment of Mr. Under the receivership the Beason bank will be liquidated and will pass out of existence as there are no plans or intentions of organizing The First National bank has assets of $139,000: approximately 49 percent of its old deposits in cash: $850 in real estate. no bills payable and no pledged assets. pected the depositors will eventualbe paid in full and shareholders may receive something also. Segregated new deposits, placed in the bank since reopening under conservatorship, total $15,500 and will be paid immediately depositors. The deposits are not affected by the receivership.

2. October 3, 1933 The Pantagraph Bloomington, IL

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Article Text

BEASON BANK GETS RECEIVER G. W. Ohmes, en Appoint Liquidation. Pantagraph Central Illinois Service. W. Ohmes, of Lincoln, former assistant ier of the American National bank, Monday appointed receiver of the First National bank of Beaby the comptroller of currency at Washington The of Whitnah, cashier of the bank, which has been in effect since soon after the bank moratorium March ended with the appointment of Mr. Ohmes. Under the receivership the Beason bank will be liquidated and will pass out of existence as there are no plans or intentions of organizing new bank The First National bank has RSsets of $139,000: approximately percent of its old deposits in cash: $850 in estate, no bills payable and no pledged It pected depositors will eventualbe paid in full and shareholders may receive something also. Segregated new deposits. placed in the bank since reopening under conservatorship. total $15,500 and will be paid immediately to depositors. The new deposits are not affected by the receivership.

3. October 3, 1933 The Decatur Daily Review Decatur, IL

Article from The Decatur Daily Review, October 3, 1933

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Article Text

Receiver Named For Beason Bank By Staff Correspondent Lincoln The appointment of George Ohmes, former assistant cashier of the American National bank, as receiver of the First National bank of Beason was announced in a telegram from the comptroller of the treasury Monday. The bank has not reopened except for new deposits since the bank moratorium and will now go out of business as the directors say that present business conditions do not warrant a bank in a community the size of Beason. The First National bank has assets of $139,000 and has approximately 43 per cent of its old deposits in cash or its equivalent. Fifteen thousand five hundred dollars in deposits made since the moratorium will be returned at once and it is believed that all of the assets can be liquidated by the first of the year. Directors are of the opinion that the deposits will be met 100 percent and there will remain a small residue for the stockholders.