Nokomis National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 1934
Charter Number: 1934
Start Date: February 8, 1930
Location: Nokomis, Illinois (39.301, -89.285)

Metadata

Model: gpt-5-mini
Short Digest: 37066a7d

Response Measures

Accommodated withdrawals, Books examined

Receivership Details

Depositor recovery rate: 85.7%
Date receivership started: 1933-02-09
Date receivership terminated: 1939-04-28
Share of assets assessed as good: 9.4%
Share of assets assessed as doubtful: 89.5%
Share of assets assessed as worthless: 1.1%

Description

Article (Feb 8, 1930) reports a run/large withdrawals at banks in the area after the Schuyler bank closed. The Nokomis State Bank closed; the Nokomis National Bank experienced slight withdrawals but remained open for business throughout. Therefore this episode for Nokomis National Bank is a run that did not lead to suspension.

Events (3)

1. February 9, 1872 Chartered

Source: historical_nic

2. February 8, 1930 Run

Cause: Local Banks
Cause Details: Run/large withdrawals were brought about by the closing of the Schuyler bank in Pana and nearby bank closures.
Measures: Remained open for business; no suspension reported.
Newspaper Excerpt: The Nokomis National bank experienced slight remained open for busithroughout
Source: newspapers

3. February 9, 1933 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 8, 1930 Joplin Globe Joplin, MO

Article from Joplin Globe, February 8, 1930

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Article Text

ILLINOIS Failure of One Depository Is Followed by Two Is Staged. Pana. Feb. banks in this vicinity have closed their doors within the twentyfour hours. The Schuyler bank of Pana, with deposits more than $2,000,000, was the first to close. The Schuyler bank ordered closed late yesterday because frozen assets. The Rosamond State bank, four miles west of here, was closed this morning for investigation and readjustment, while the Nokomis State bank, thirteen miles west of Pana. was closed thirty minutes after had opened today, following heavy brought about by the closing the Schuyler bank. Crowd Rushes Tellers. large number of people gathered about the Nokomis State bank before the doors were opened today. As soon the bank opened for business, there was rush the tellers' cages withdraw deposits. Bank officials, fearing that they would not be able to meet the demands the run continued, called meeting of the board directors. The directors voted for immediate closing of the institution protect depositors. President Charles Keer instructed notify State Auditor Nelson Springfield of the board's action, and the board requested that aminers sent to take charge. Deposits of the Nokomis State bank with assets listed at The Nokomis National bank experienced slight remained open for busithroughout The Rosamond State bank listed capital stock $25,000 and of $25,000. Although there was rush to withdraw deposits from the Pana National bank during the morning, officials of the institution said there was no alarm, and before the day was over many deposits had been made.