4785. First National Bank (Boswell, IN)

View Charter #5476 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5476
Charter Number
5476
Start Date
March 4, 1933
Location
Boswell, Indiana (40.521, -87.378)

Metadata

Model
gpt-5-mini
Short Digest
9edd9e62d12252cc

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-10-03
Date receivership terminated
1937-05-24
Share of assets assessed as good
55.9%
Share of assets assessed as doubtful
31.8%
Share of assets assessed as worthless
12.3%

Description

Articles state the First National Bank of Boswell had been on limited withdrawals and under a conservator since the moratorium of March 4, 1933, and that a receiver was appointed in early October 1933 — indicating the bank suspended operations and was placed in receivership (permanent closure). No discrete depositor run is described.

Events (4)
1. June 30, 1900 Chartered
Source
historical_nic
2. March 4, 1933 Suspension
Cause
Government Action
Cause Details
Moratorium (banking holiday) beginning March 4, 1933 led to limited withdrawals and conservatorship.
Newspaper Excerpt
The bank has been on a limited withdrawal basis and in charge of a conservator since the moratorium on March 4th.
Source
newspapers
3. October 3, 1933 Receivership
Source
historical_nic
4. October 5, 1933 Receivership
Newspaper Excerpt
Will Duffey received a telegram ... calling for him to go to Boswell and take charge of the National Bank at that town as receiver.
Source
newspapers

Newspaper Articles (2)
1. October 5, 1933 The Burnettsville News Burnettsville, IN
Article from The Burnettsville News, October 5, 1933

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Article Text

Appointed Bank Receiver Will Duffey received a telegram Tuesday evening from thestate bank. ing department calling for him to go to Boswell and take charge of the National Bank at that town as receiver. The bank has been in the hands of a conservator for some time past What action Mr Duffev is to take with the affairs of the bank in not known.

2. October 6, 1933 The Monticello Journal Monticello, IN
Article from The Monticello Journal, October 6, 1933

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Article Text

Appointed Bank Receiver Will Duffey, of Burnettsville, received a telegram Tuesday evening from the Comptroller of the Currency at Washington telling him to go to Boswell, Benton county, and take charge of the First National Bank at that place as receiver. The bank has been on a limited withdrawal basis and in charge of a conservator since the moratorium on March 4th. The Benton Revew, Fowler, says