First National Bank - Wheaton, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9368
Charter Number: 9368
Start Date: August 9, 1933
Location: Wheaton, Illinois (41.866, -88.107)

Metadata

Model: gpt-5-mini
Short Digest: 172e65a1

Response Measures

None

Receivership Details

Depositor recovery rate: 72.5%
Date receivership started: 1933-01-19
Date receivership terminated: 1938-11-18
Share of assets assessed as good: 33.1%
Share of assets assessed as doubtful: 59.6%
Share of assets assessed as worthless: 7.3%

Description

Article (dated 1933-08-09) reports federal indictment of a bank official and that a receiver (Charles Khapp) will institute suit — indicates the bank was placed in receivership/closed. No mention of depositor run in the articles provided. Classified as suspension leading to closure due to adverse bank-specific information (misapplication of funds).

Events (4)

1. March 25, 1909 Chartered

Source: historical_nic

2. January 19, 1933 Receivership

Source: historical_nic

3. August 9, 1933 Receivership

Newspaper Excerpt: A federal indictment was returned... Receiver Charles Khapp announces he will institute a suit to recover a portion of the money.
Source: newspapers

4. August 9, 1933 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Federal indictment of Monte B. Taylor for misapplication of funds (~$25,000) and false entries leading to receiver appointment.
Newspaper Excerpt: Receiver Charles Khapp announces he will institute a suit to recover a portion of the money.
Source: newspapers

Newspaper Articles (1)

1. August 9, 1933 The True Republican Sycamore, IL

Article from The True Republican, August 9, 1933

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Article Text

Charge Banker With Misusing of Funds A federal indictment was returned late Monday against Monte B. Taylor, official of the First National Bank of Wheaton, charging him with the misapplication of funds to the extent of about $25,000 and with making false entries in the bank's records. Receiver Charles Khapp announces he will institute a suit to recover a portion of the money.