First Lake County National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 13718
Charter Number: 13718
Start Date: March 1, 1933*
Location: Libertyville, Illinois (42.283, -87.953)

Metadata

Model: gpt-5-mini
Short Digest: 388eb586

Response Measures

None

Description

The bank closed during the 1933 moratorium (national banking holiday) and remained closed; article (Dec 21, 1935) describes the receiver paying a final 12.5% dividend to depositors. No run is reported in the excerpts — this is a suspension/closure tied to the 1933 moratorium and receivership proceedings.

Events (2)

1. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed during the 1933 national banking moratorium/holiday; payments were tied up when the bank closed.
Newspaper Excerpt: the bank closed during the 1933 moratorium.
Source: newspapers

2. December 21, 1935 Receivership

Newspaper Excerpt: The explanation was given by an assistant to the receiver for the First Lake County National Bank. The money represented the final 12 1/2 per cent payment to 3,000 depositors whose $1,009,379 was tied up when the bank closed during the 1933 moratorium. Depositors were asked to come and get it, but didn't. (Evening Star, Dec 22, 1935, dateline Dec 21.)
Source: newspapers

Newspaper Articles (1)

1. December 22, 1935 Evening Star Washington, DC

Article from Evening Star, December 22, 1935

Click image to open full size in new tab

Article Text

BANK CAN PAY NOW; $103,000 GOES BEGGING Depositors' Clamor for Money When They Couldn't Get It Subsides to Indifference. By the Associated Press. LIBERTYVILLE, Ill., December 21. -The tidy little sum of $103,347 is going begging, at least temporarily, because: "People want things when they can't get them, but when they can have them, they don't care." The explanation was given by an assistant to the receiver for the First Lake County National Bank. The money represented the final 12 1/2 per cent payment to 3,000 depositors whose $1,009,379 was tied up when the bank closed during the 1933 moratorium. Depositors were asked to "come and get it," but didn't.