5416. First National Bank (Ambia, IN)

View Charter #9510 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9510
Charter Number
9510
Start Date
January 28, 1922
Location
Ambia, Indiana (40.490, -87.517)

Metadata

Model
gpt-5-mini
Short Digest
81123e54

Response Measures

None

Receivership Details

Depositor recovery rate
52.1%
Date receivership started
1921-04-05
Date receivership terminated
1932-02-29
OCC cause of failure
Fraud
Share of assets assessed as good
61.5%
Share of assets assessed as doubtful
25.8%
Share of assets assessed as worthless
12.7%

Description

Articles describe the First National Bank of Ambia as being in receivership (receiver suing on alleged overdrafts, embezzlement by assistant cashier) and later listed in a 1932 comptroller report as having paid only 52.1% to depositors. No standalone run is described. Therefore this is a suspension that ended in closure/receivership/liquidation.

Events (5)
1. August 16, 1909 Chartered
Source
historical_nic
2. April 5, 1921 Receivership
Source
historical_nic
3. January 28, 1922 Receivership
Newspaper Excerpt
James A. Williams, receiver for the First National bank of Ambia, against 10 depositors ... Wilbur C. Taylor, the missing ex-assistant cashier (accused of embezzlement).
Source
newspapers
4. January 28, 1922 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged embezzlement by assistant cashier Wilbur C. Taylor ($31,000) and false entries concealing shortage led to insolvency and appointment of a receiver.
Newspaper Excerpt
Suits to recover $22,870 alleged to be due on overdrafts were filed ... by James A. Williams, receiver for the First National bank of Ambia.
Source
newspapers
5. December 13, 1932 Other
Newspaper Excerpt
The First National Bank of Ambia paid 52.1 per cent (reported in comptroller's report).
Source
newspapers

Newspaper Articles (5)
1. January 29, 1922 South Bend News-Times South Bend, IN
Article from South Bend News-Times, January 29, 1922

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Article Text

Sues to Recover $22,870 Overdrafts on Ambia Bank INDIANAPOLIS Jan. 28.-Suits to recover $22,870 alleged to be due on overdrafts were filed in federal court here today by James A. Williams, receiver for the Firt National bank of Ambia, against 10 repositors on the bank. The depositors are alleged to have been permitted to overdraw their accounts by Wilbur C. Taylor, assistant cashier, who disappeared last spring and who is accused of embezzlement of $31,000. Taylor, it is charged, made false entries to conceal the shortage. Persons made defendants to the receiver's suits are Joseph Heaton. Charles Finch. Robert W. Finch, Charles Field. Charles N. Anderson, Frank Parnell, Sarl Parnell, Miner Chaffee and Maynard McIntyre and Wilbur C. Taylor, the missing exassistant cashier.

2. September 20, 1922 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, September 20, 1922

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Article Text

ASKS JUDGMENTS Receiver for Bank Sues Six for Alleged Overdrafts. Judgments aggregating $12,500 were asked against six residents of Ambia in suits filed in Federal Court by James A. Williams, receiver for the First National Bank of Ambia. The defendants are Perry Finley, Elizabeth Finley, Aaron F. Davis, William F. Cox, Alonzo F. Stephens, F. Greenberg. Alleged overdrafts are the basis of the suits.

3. December 13, 1932 The Monticello Journal Monticello, IN
Article from The Monticello Journal, December 13, 1932

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Article Text

Announce Honor Roll of Reynolds Schools Following is the honor roll for the WASHINGTON, De.c 13,-IndReynolds schools for the month of iana fared better than most of the November: eight middle western states in the Grade Verna Miller 4 As, 2 total number of bank suspensions Bs: Mary Robers As, Bs. during the 111/2-year period ended Grade Two-Vera Buschman 4As, June 30, 1932. The annual report of the comptrol3 Bs; Mary Erwin As, Bs; Lavonne Johnson 4 As, Bs; Mildred ler of the currency to congress, made Artist 3 As, Bs: Kenneth Meyer public yesterday, shows Indiana had As, 4 Bs; Donald Bir A, 6 Bs: 352 suspensions during, the period, Wayne McBeth A, 6 Bs; Francis while Illinois, Iowa, Missouri and Minnesota had far greater numbers. Ward A. Iowa's 887; Illinois' 648; Missouri's Grade Norman Buckley $ 572, and Minnesota's 559 placed IndAs, $ Bs; Pearl Smith As, 4 Bs; iana fifth among its neighboring Robert Rinehart 4 As Bs; Beatrice middle western states. Of Indiana's Rogers As, 6 Bs; Marietta Miller group 321 were state and private inAs, Bs. stitutions and 31 were national. Grade Four-Dorothy Plummer 6 Ranking below Indiana was WisAs, 4 Bs; Paul Ward As, Bs; Hilconsin with 148; Ohio with 212 and dred Erwin As, Bs; Lillian FoshMichigan with 247. er 4As. 6 Bs: Paul Altman 3 As, The report shows that of the four Bs. national bank receiverships in Indiana Grade Five-John Keys As, 2 Bs; liquidated and finally closed, or reClaude Kraud I A, 9 Bs: Eldon stored to solvency, one of them paid Shields 9 Bs. 102.3 per cent to its depositors and Grade Six-Stella Hornback $ As, again was established as solvent, while 6 Bs: Thelma Swing 4 As, 7 Bs: two of the others paid nearly 100 per Maida Fowler 3 As, 8 Bs. cent., The First National Bank of Grade Seven-Jack Erwin As, 4 Sheridian paid 102.3, while the NaBs; Annabelle Languell 3 As, $ Bs; tional bank of Lagrange paid 90 so and Shirley Mauke 3 As, 6 Bs. the First National Bank of NoblesGrade Eight-Richard Vogel $ As, ville paid 98.2 per cent. The First Bs: Eileen Elmore 4 As, 4 Bs. National Bank of Ambia paid 52.1 Grade Nine-Lois Hughes 2 As, 5 per cent. Bs. Grade Ten-Vincent Tyrrell 4 As, Luther F. Symons, the Indiana bankB; Viola Garling As, 3 Bs; Mary ing commissioner has 534 banking inPlummer As, Bs. stitutions of all classes under his Grade Eleven-Margaret Erwin 6 jurisdiction. This IS the smallest numAs; Ross Westfall As, 4 Bs. ber of any of the middle western states Grade Twelve-Martha Erwin with the exception of Michigan, which As, 2 Bs; Marie Wiese 2 As, , Bs. has 478.

4. December 20, 1932 The Republic Columbus, IN
Article from The Republic, December 20, 1932

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Article Text

INDIANA IS FAIR IN BANK RATING Has Had Fewer Suspensions Than Most Mid-West States in Period. Washington, Dec. 20. ana fared better than most of the eight middle states in the total number of bank suspensions during the 11/2-year period ended June The annual report of the comptroller of the to congress, shows Indiana had 352 suspensions during the period, while Illinois, Iowa, Missouri and Minnesota had far greater numbers Iowa's 887, Illinois' 648, Missouri's 572 and Minnesota's 559 placed Indiana fifth among its neighboring middle western states. Of Indiana's group 321 and private institutions and 31 were national. Others Low in Scale. Ranking below Indiana Wisconsin with 158. Ohio with 212 and Michigan with 247. The report shows that of the four national bank receiverships in Indiana liquidated and finally or restored to solvency, one of them paid 102.3 per cent to its depositors and again was as solvent, while two of the others paid nearly 100 per The First bank of Sheridan paid the 102.3, while the National bank of Larange paid 90.50 and the First National of Noblesville paid 98.2 per cent. The First National bank of Ambia paid 52.1 The comptroller's report also shows Luther F. Symons, the Indiana banking commissioner. has 534 banking institutions of all classes under his jurisdiction. This is the smallest number of any of the middle western states with the exception of Michigan, which has 478.

5. December 22, 1932 The Hancock Democrat Greenfield, IN
Article from The Hancock Democrat, December 22, 1932

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Article Text

Indiana Fifth of Eight States in Failures Washington, Dec. fared better than most of the eight middle Western states in total number of bank suspensions during the eleven and period ended June 30, 1932. The annual report of the controller of the currency made public today, shows Indiana 352 during the period, while Illinois, Iowa, and Minnesota had far 887, Illinois' 648, Missouri's 572 559 placed Indififth among its midstates. Of Indiana's group 321 state and private institutions 31 were national. Ranking below Indiana consin 158; Ohio with 212 and Michigan with 247 The report shows that of the four National bank in Indiliquidated and finally closed, or restored solvency, one of them paid 102.3 per cent. to its depositors and again was established as solvent, while two of the others paid nearly 100 per cent. The First National bank of Sheridan paid the 102.3, while the National bank Lagrange paid and the First National bank of Noblesville paid 98.2 per cent. The First National bank of Ambia paid 52.1 per cent. The controller's report also shows Luther Symons, the bankhas 534 banking institutions of all classes under his jurisdiction. This the smallest number of any of the middle Western states the exception of Michigan, which has 478. If Mr. Hoover had been re-elected he probably would have been lot less in heat to balance the budget by curtailing federal public works and laying men off the jobs. Beer may come before long, but is not going to bring with it that old sign, "largest glass of beer in town for cents." The scale will be double. It's no trouble to find lots of men who'd be glad enough to pay an income tax again. Farmers want Uncle Sam to fix prices for produce, as easy matter, likely, as fixing private income.