4378. First National Bank (Morrisonville, IL)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
6745
Charter Number
6745
Start Date
January 19, 1933
Location
Morrisonville, Illinois (39.420, -89.456)

Metadata

Model
gpt-5-mini
Short Digest
a4f8eae41be52273

Response Measures

None

Receivership Details

Depositor recovery rate
50.7%
Date receivership started
1931-06-29
Date receivership terminated
1937-07-13
OCC cause of failure
Economic conditions
Share of assets assessed as good
32.0%
Share of assets assessed as doubtful
63.7%
Share of assets assessed as worthless
4.3%

Description

Articles report the First National Bank of Morrisonville closed by order of its board to 'steady funds' and a receiver was subsequently appointed. No article describes a depositor run prior to the suspension. OCR errors corrected (article 2 pub date 1933-01-21 indicates the bank closed 'Thursday' = 1933-01-19).

Events (4)

1. April 27, 1903 Chartered
Source
historical_nic
2. June 29, 1931 Receivership
Source
historical_nic
3. January 19, 1933 Suspension
Cause
Government Action
Cause Details
Closed by order of the board to steady funds; institution subsequently placed in receivership.
Newspaper Excerpt
The bank closed Thursday by order of the board of directors to steady of funds.
Source
newspapers
4. January 21, 1933 Receivership
Newspaper Excerpt
RECEIVER defunct Morrisonville First National bank ... receiver has been appointed ... Farmers National bank in charge. The audit of the books ... Friday. The bank closed Thursday ... and the First National bank has been appointed receiver in charge. (Article headline date: 1933-01-21.)
Source
newspapers

Newspaper Articles (2)

Article from Alton Evening Telegraph, July 2, 1931

Click image to open full size in new tab

Article Text

Tale of Auto Mishap Admits He Is Wrong, Out of Condition The revised list of delegates INVERNESS CLUB, TOLEDO. from follows: July Compston, British was disqualiPeter fied from participation in lahan, Broderick, John United States Open champion- McGinnis, James ship today he appeared Lampert, Joseph Wilhour late for the start of his first round. Telephoned reports said he had Leo Fitzgerald, been in automobile accident on Mahoney, the Inverness Ray proved Walter founded. Chapman, Thomas Butler, August Compston at first told newspa- Miller, permen had been mishap while driving out Columbus, an Heat Fills Police Court planation for his failure arrive time. Later he denied this, With Domestic Tussles mitted Magistrate Walter Day has he not number cases since the heated pete, was ruled out of the term opened in which husbands tournament. charged by wives with peace The big British who disturbance. the leading Today, had case of the been paired with posite variety. husband MacDonald charged Smith. wife The complainant was Fred Name Morrisonville Bank Receiver Guipe the defendant July Nominia Guipe. Martin appointed After hearing Magisceiver of the First National Bank trate by the But Guipe no of the The finally her release bank closed its doors ago. her promise to pay when able. Martin also receiver the Pana National and the First Taylorville, banks. Ploneer Rural Mail Carrier Dies. Shell Gas Price Rise. rise the price effecin Alton Wood Wednesday.


Article from The Decatur Daily Review, January 21, 1933

Click image to open full size in new tab

Article Text

RECEIVER defunct Morrisonville First National bank the First National bank has been appointed Farmers National bank by in charge. The audit of the books under Friday. The bank closed Thursday by order of the board of directors to steady of funds.