First National Bank - Sterling, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1717
Charter Number: 1717
Start Date: October 30, 1934
Location: Sterling, Illinois (41.789, -89.696)

Metadata

Model: gpt-5-mini
Short Digest: 42189110

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1934-03-29
Date receivership terminated: 1938-07-16
Share of assets assessed as good: 52.4%
Share of assets assessed as doubtful: 44.1%
Share of assets assessed as worthless: 3.5%

Description

The article (1934-10-30) lists property transfers and includes the phrase 'First National bank receiver Parker', indicating the First National Bank of Sterling was in receivership (i.e., permanently closed and in receivership). The article does not explicitly describe a prior run or formal suspension, but assignment of a receiver implies closure; thus classified as suspension_closure.

Events (3)

1. October 8, 1870 Chartered

Source: historical_nic

2. March 29, 1934 Receivership

Source: historical_nic

3. October 30, 1934 Receivership

Newspaper Excerpt: First National bank receiver Parker
Source: newspapers

Newspaper Articles (1)

1. October 30, 1934 The Dispatch Moline, IL

Article from The Dispatch, October 30, 1934

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Article Text

PROPERTY TRANSFERS IN WHITESIDE COUNTY Prophetstown, Oct. following been of the Whiteside county recorder the last few City Sterling to Northwestern Barb company, to block Martin's addition, Sterling, Samuel Deusch to Martha and part of block Empire, Donald Wilger to Emma ker. to and block East $10. First National bank receiver Parker, to lots and block 35 East Broadway, William Loudenberg to CarMetzer, to part sec. Rock Falls, Paul Hartley to John M. Stager, block Summit place, Sterling, John Sheldon trustee, et John Snavelt to front sub., Rock Falls, Paul Hartley to Lawrence, lot block Summitt place, Sterling, $10. Raymond Dawes to Clarence Juist, to part $2200. Machamer al. to Machamer, range part lot block fractions, Fulton, Mason Nelson to Barb lots block John Hutten Lloyd lus, to and part block 26, Wallace add., Johnston Lumber company to Martin Rock Falls. George Miller Clarence Bachellor, and sec. Jordan Angus Mayhew al to George Miller block East Broadway, Sterling, part sec. Rock Falls, City of Morrison to Swartz, cemetery deed. Plumley to Fulton State bank, and East feet lot block Fulton, Martin James Quimby, trustees deed lot Mar. add., Rock Martin est., Barb Wire and Riverview first addition, Sterling, Leonard Broderick to Nicholas Becker Add., Sterling,