5252. First National Bank (Lebanon, IN)

View Charter #2057 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2057
Charter Number
2057
Start Date
December 27, 1933
Location
Lebanon, Indiana (40.048, -86.469)

Metadata

Model
gpt-5-mini
Short Digest
266d700e81b6e7fb

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-08-29
Date receivership terminated
1938-05-12
Share of assets assessed as good
61.2%
Share of assets assessed as doubtful
37.5%
Share of assets assessed as worthless
1.3%

Description

Articles state the First National Bank of Lebanon was placed in receivership and is in process of liquidation; receiver is paying dividends to claimants in 1934. No mention of a depositor run; closure was by government receivership and liquidation.

Events (6)
1. October 11, 1872 Chartered
Source
historical_nic
2. August 29, 1933 Receivership
Source
historical_nic
3. December 27, 1933 Receivership
Newspaper Excerpt
Stockholders of the First National bank, which is in receivership, have been ordered by J. F. T. O'Connor, comptroller of the currency, to pay an assessment of $100 on each share of stock.... Purpose... is to raise a fund... to liquidate the bank's affairs.
Source
newspapers
4. December 27, 1933 Suspension
Cause
Government Action
Cause Details
Placed in receivership by the Comptroller of the Currency (government examiner); bank in liquidation.
Newspaper Excerpt
Stockholders of the First National bank, which is in receivership, have been ordered by J. F. T. O'Connor, comptroller of the currency, to pay an assessment...
Source
newspapers
5. March 16, 1934 Other
Newspaper Excerpt
A dividend of 55 per cent, representing $275,000, is being paid to holders of claims against the First National bank by the receiver, Lester E. Everett.
Source
newspapers
6. October 30, 1934 Other
Newspaper Excerpt
Distribution of $140,000, representing a dividend of 3 per cent for depositors of the First National bank, which is in process of liquidation, is under way.
Source
newspapers

Newspaper Articles (3)
1. December 27, 1933 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, December 27, 1933

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Article Text

Bank Stock Assessed By Times Special LEBANON, Dec. 27. - Stockholders of the First National bank, which is in receivership, have been ordered by J. F. T. O'Connor, comptroller of the currency, to pay an assessment of $100 on each share of stock. Purpose of the assessment, the comptroller stated, is to raise a fund of $100,000 with which to liquidate the bank's affairs.

2. March 16, 1934 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, March 16, 1934

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Article Text

Closed Bank Pays By Times Special LEBANON, March 16.-A dividend of 55 per cent, representing $275,000, is being paid to holders of claims against the First National bank by the receiver, Lester E. Everett. Previously, a dividend of 5 per cent was paid. About 1,100 persons will receive payments.

3. October 30, 1934 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, October 30, 1934

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Article Text

Indiana in Brief By Times Special EBANON, Oct. 30.-Distribution of $140,000, representing a dividend L of 3 per cent for depositors of the First National bank, which is in process of liquidation, is under way. Nearly 1,500 persons will be paid. Previously a dividend of 55 per cent, for a total of $271.000 was paid. Lester E. Everett is receiver of the bank.