5278. First National Bank (Marion, IN)

View Charter #4189 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4189
Charter Number
4189
Start Date
February 11, 1925
Location
Marion, Indiana (40.550, -85.659)

Metadata

Model
gpt-5-mini
Short Digest
7d7ac3bf6579c315

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-12-05
Date receivership terminated
1938-08-20
Share of assets assessed as good
70.6%
Share of assets assessed as doubtful
28.4%
Share of assets assessed as worthless
1.0%

Description

Articles indicate the First National Bank of Marion closed in December (reported in Jan 1931) and a receiver was appointed and is administering the bank (receiver's report published 1931-01-13). There is no mention of a depositor run triggering the closure in the provided texts. Separate items show the bank acting as receiver for other concerns (Indiana Safety Coach Corp and a battery plant sale), but those are the bank serving as receiver, not causing its failure. Cause of the suspension/closure is not specified in the articles, so marked as 'other.'

Events (6)
1. December 24, 1889 Chartered
Source
historical_nic
2. February 11, 1925 Other
Newspaper Excerpt
The plant and personal property of the art Battery sold private sale by the First National bank, receiver, at the First National bank beginning on February 23...
Source
newspapers
3. December 1, 1930* Suspension
Cause Details
Article states the bank closed December but provides no explicit cause (no run or regulatory action mentioned).
Newspaper Excerpt
RECEIVER REPORTS ON MARION BANK who has been acting receiver of the First National bank, which closed December today made his first the public showing the assets of the bank exceed the liabilities by $170,985
Source
newspapers
4. January 13, 1931 Receivership
Newspaper Excerpt
RECEIVER REPORTS ON MARION BANK ... he has cash on hands of $158,000 ... the ability of the bank to make an early [distribution] on the collection of outstanding [assets]. (Article date 1931-01-13 reporting receiver's first public showing.)
Source
newspapers
5. May 23, 1931 Other
Newspaper Excerpt
The First National bank here recently was appointed receiver for the Indiana corporation. The receiver informed the court that the lines had not been operated at a profit and requested permission to turn them over to the other firms.
Source
newspapers
6. December 5, 1933 Receivership
Source
historical_nic

Newspaper Articles (5)
1. February 11, 1925 Leader-Tribune Marion, IN
Article from Leader-Tribune, February 11, 1925

Click image to open full size in new tab

Article Text

TO HAVE PRIVATE SALE The plant and personal property of the art Battery sold private sale by the First National bank, receiver, at the First National bank beginning on February 23, the sale from day day, until all of the property is dis posed of.

2. January 11, 1930 Leader-Tribune Marion, IN
Article from Leader-Tribune, January 11, 1930

Click image to open full size in new tab

Article Text

Court Calendar Circuit Judge O. D. Clawson has set the following cases for the schedule of the tenth week of the November term. which starts Monday. JanMonday, Baxter garden. Tuesday. Jan 21 Swanger & Clain Darby Paper Co. Bedell Migr. Wednesday, Jan. 22-Pettiford Beck: Harding Shelby. Thursday Jan Fear; Seale Fear. Friday Jan. R. Esler vs. First National Bank, receiver.

3. January 13, 1931 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, January 13, 1931

Click image to open full size in new tab

Article Text

RECEIVER REPORTS ON MARION BANK who has been acting receiver of the First National bank, which closed December today made his first the public showing the assets of the bank exceed the liabilities by $170,985 The total assets are given as $1,952,643 and the liabilities as 781 657 He has cash on hands of $158,000 and the ability of the bank to make an early will on the collection of outstanding

4. May 23, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, May 23, 1931

Click image to open full size in new tab

Article Text

OFFER FOR BUS LINE Reindeer and Greyhound Seek to Acquire Indiana Coach. By Times Special MARION, Ind., May 23.-Authority of the public service commission has been requested following permission granted by Judge Oren W. Dickey to attorneys for Reindeer Stages, Inc., and Greyhound Lines, Inc., to take over the operation of the lines of the Indiana Safety Coach Corporation. The First National bank here recently was appointed receiver for the Indiana corporation. The receiver informed the court that the lines had not been operated at a profit and requested permission to turn them over to the other firms. Both the Reindeer Stages and Greyhound Lines are believed interested in continuing the operation of the lines until they are offered for sale by the receiver.

5. November 18, 1931 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, November 18, 1931

Click image to open full size in new tab

Article Text

HOLDS CLAIMS CASE HEARING Superior Judge Oren W. Dickey today heard evidence claims filed against receivers in two cases pendin his court. Claims totaling $5,800 were lowed as general claims against the First National Bank, receiver the Indiana Safety Coach Corp The court claims parts of claims totaling $23,000. Creditors of the defunct concern will receive 15 cent claims which now total The court also allowed claim filed by Mrs Mand Kinnear against National bank. ceiver for the Kinnear in the sum The claim was allowed as general claim. A. A. U. RE-ELECTS BRUNDAGE KANSAS cluding annual convention the of Avery Brundage of Chicago, as president, and the selection New York its 1932 convention city, the Amateur Ath letic Union prepared today form an alliance with the Y. M