4300. Lincoln National Bank (Lincoln, IL)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
3369
Charter Number
3369
Start Date
July 26, 1885
Location
Lincoln, Illinois (40.148, -89.365)

Metadata

Model
gpt-5-mini
Short Digest
b84903d600ddf865

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-05-10
Date receivership terminated
1939-03-30
Share of assets assessed as good
46.1%
Share of assets assessed as doubtful
47.5%
Share of assets assessed as worthless
6.4%

Description

Articles show the bank was chartered/authorized to begin business in 1885 (no distress) and by Dec 3, 1933 its accounts were tied up with 35% to be released when a new bank opens โ€” indicating a prior suspension/closure and subsequent reopening under a new bank. The 1933 article does not describe a depositor run or specify government action as the cause, so I classify the episode as a suspension with reopening. OCR appears correct.

Events (4)

1. July 25, 1885 Chartered
Source
historical_nic
2. July 26, 1885 Other
Newspaper Excerpt
The Comptroller of the Currency has authorized the Lincoln National Bank, of Lincoln, Ill, to begin business with a capital of $60,000.
Source
newspapers
3. December 3, 1933 Suspension
Cause Details
Accounts were tied up (bank closed or suspended prior to new bank opening); article does not specify government closure or a depositor run.
Newspaper Excerpt
Christmas savings accounts in the Lincoln National bank are still tied up but 35 percent will be released when the new bank opens.
Source
newspapers
4. May 10, 1934 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from The Indianapolis Journal, July 26, 1885

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Article Text

ment printing office, and on newspapers here as business manager, etc., to-day filed a bill of complaint in the equity court asking for a discovery, and that a receiver be appointed for the Washington Critic. Helm owns $4,000 stock in the establishment, and sets up numerous allegations of fraud. A hearing will be granted on the 29th inst. The Critic was, until recently, principally owned by Gen. Thomas J. Brady, and the parties who purchasedi it have not recognized Helm as a stockholder. Fifth Auditor D. S. Alexander was expected at the Treasury Department this afternoon. His successor has not yet been appointed. R. S. Taylor, of Fort Wayne, is at the Ebbitt. Indiana postmasters were commissioned to-day as follows: Arthur H. Secrest, Alaska; Jane Sanders, Clayton; William.J. Fanning, Corunna; Carry P. Kreager, Cromwell; Jonathan Owen, Groveland; Edward Finan, Monroeville; Samuel M. Rooker. Mooresville; Rufus Vaught, New Winchester; George H. Glick, Petersville; John M. Brown, Poe; John J. Burton, Royal Center; Thomas J. Lafollette, South Whitley; Levi D. Paddock, Waverly; Cyrus S. Stoy, Butler. Admiral Jouett, who has been in Central American waters for some weeks, has been ordered to collect the vessels of the North Atlantic squadron, and proceed with them to the coast of Maine. He is also ordered to exercise the crews. The Comptroller of the Currency has authorized the Lincoln National Bank, of Lincoln, III, to begin business with a capital of $60,000. The President has recognized Joseph H. Whailon as British vice consul at Key West, Fla,


Article from The Pantagraph, December 3, 1933

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Article Text

Lincoln Banks Distribute $9,000 Christmas Savings Pantagraph Central Illinois Service. LINCOLN Christmas savings checks totaling $9,000 were distributed Friday by the Lincoln State bank. Christmas savings accounts in the Lincoln National bank are still tied up but 35 percent will be released when the new bank opens. SEEKS DISCONNECTION Pantagraph Central Illinois Service. petition to nect acres from the corporate limits of the village of Broad. well was filed in circuit court Fri day by Noah E. Coaby.