First Farmers National Bank (Arcanum, OH)

View Charter #4839 on SPMC View balance sheet

Episode Information

Episode Type
Suspension → Closure
Start Date
March 6, 1933
Location
Arcanum, Ohio (39.990, -84.553)
Bank Type
national
Charter Number
4839
Alt. names
First National Bank

Metadata

Episode ID
Bank ID
City ID
391066324
Model
gpt-5-mini
Short Digest

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-06-21
Date receivership terminated
1937-09-25
Share of assets assessed as good
39.1%
Share of assets assessed as doubtful
50.5%
Share of assets assessed as worthless
10.4%

Notes

Bank was operated on restricted basis after the 1933 national banking holiday and later placed in receivership with dividend distributions by 1935.

Events (4)
1. January 14, 1893 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Operated on a restricted basis following the March 1933 national bank holiday; payments limited by receiver/examiner
Newspaper Excerpt
The Greenville National bank and the First-Farmer National bank at Arcanum also are being operated on restricted basis
Source
newspapers
3. June 21, 1934 Receivership
Newspaper Excerpt
First-Farmers National Bank of Arcanum, was recently authorized to make a third dividend distribution to depositors of the closed bank.
Source
newspapers
4. June 21, 1934 Receivership
Source
historical_nic

Newspaper Articles (2)
1. August 18, 1933 The Dayton Herald Dayton, OH

Article Text

FULL PAYMENT FOR BANK SEEN

Receiver Checks Accounts of Ansonia Institution, Restricted Since Holiday.

GREENVILLE, O., Aug. 18.-A full payment to depositors of the First National bank at Ansonia, which has been operated on restricted basis since the national bank holiday, was predicted today by Charles Haber, Greenville, who is acting as receiver for the village institution. Haber recently checked all accounts of the bank. All accounts that have been opened with the bank since the recent holiday are held as trust funds and are subject to 100 per cent withdrawals immediately The Greenville National bank and the First-Farmer National bank at Arcanum also are being operated on restricted basis, but during the past week license to resume ma business was granted to the Osgood State bank. cases.

2. December 20, 1935 The Daily Advocate Greenville, OH

Article Text

GUARDIANSHIP BLOCKED BY TIFFIN INJUNCTION

Tiffin, O., Dec. 20. — Henry Ockschim, 74, Seneca County farmer, obtained a court injunction yesterday restraining Howard Fry, Oldfort banker, from assuming guardianship over him. Ockschim was dissipating a $50,000 inheritance received from the estate of an uncle three years ago.

First-Farmers National Bank of Arcanum, was recently authorized to make a third dividend distribution to depositors of the closed bank.

The dividend is being distributed now and represents a payment to depositors of about $36,000. All claimants are hereby notified not to forget their receiver's certificates as the checks will not be given out without the certificates.

This third distribution makes a total of 65 per cent paid to depos-