5398. First National Bank (Peru, IN)

View Charter #363 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
363
Charter Number
363
Start Date
March 1, 1933*
Location
Peru, Indiana (40.754, -86.069)

Metadata

Model
gpt-5-mini
Short Digest
05a480ced45a443b

Response Measures

None

Receivership Details

Depositor recovery rate
85.3%
Date receivership started
1933-09-06
Date receivership terminated
1941-07-16
Share of assets assessed as good
28.7%
Share of assets assessed as doubtful
48.8%
Share of assets assessed as worthless
22.5%

Description

Articles report the First National Bank of Peru operated on a restricted basis after the March 1933 bank holiday and was later placed in receivership (A. P. Flynn named receiver) on Sept 10, 1933. No explicit run is described in the articles; the suspension appears related to the March 1933 bank holiday (government action) and the institution subsequently closed and entered receivership.

Events (5)
1. April 5, 1864 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Operated on a restricted basis following the March 1933 bank holiday (national banking holiday and related restrictions).
Newspaper Excerpt
operated on restricted basis since the bank holiday last March
Source
newspapers
3. September 6, 1933 Receivership
Source
historical_nic
4. September 10, 1933 Receivership
Newspaper Excerpt
A. P. Flynn ... been named receiver for the First National Bank of Peru.
Source
newspapers
5. May 4, 1934 Other
Newspaper Excerpt
A. P. Flynn of Logansport, receiver for the defunct First National Bank of Peru, has filed in Miami circuit court report on the receivership ... A withdrawal of the Peru bank as receiver is included.
Source
newspapers

Newspaper Articles (3)
1. September 10, 1933 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, September 10, 1933

Click image to open full size in new tab

Article Text

BANK RECEIVER NAMED. PERU Flynn of Logansport has ceiver for the First National bank Peru, which deposits more than million The bank receivership the States of currency after being operated restricted basis since the bank holiday last March by Ed. the The bank was in 1864.

2. September 10, 1933 The Star Press Muncie, IN
Article from The Star Press, September 10, 1933

Click image to open full size in new tab

Article Text

FLYNN IS BANK RECEIVER Peru, Ind., Sept. (/P)-A. P. Flynn Logansport, been named receiver for the First National Bank of Peru. The bank has deposits of more than million dollars. The institution had been operating on stricted basis.

3. May 4, 1934 The Pharos-Tribune Logansport, IN
Article from The Pharos-Tribune, May 4, 1934

Click image to open full size in new tab

Article Text

FLYNN FILES REPORT WITH COURT PERU, Ind., May 4-A. P. Flynn of Logansport, receiver for the defunct First National Bank of Peru, has filed in Miami circuit court report on the receivership of the Farmers' State Bank of MI. ami. A withdrawal of the Peru bank as receiver 18 included. Judge Hal C. Phelps will name another