5422. Bozeman Waters First National Bank (Poseyville, IN)

View Charter #13503 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
13503
Charter Number
13503
Start Date
December 5, 1933
Location
Poseyville, Indiana (38.170, -87.783)

Metadata

Model
gpt-5-mini
Short Digest
7530f30d3ed8ca25

Response Measures

None

Receivership Details

Depositor recovery rate
93.8%
Date receivership started
1932-01-20
Date receivership terminated
1937-02-27
Share of assets assessed as good
33.0%
Share of assets assessed as doubtful
65.7%
Share of assets assessed as worthless
1.2%

Description

Articles indicate the Bozeman Waters First National Bank of Poseyville was closed and placed in receivership (receiver later arrested). No article describes a depositor run; the bank remained closed and a receiver paid dividends to depositors in 1934, consistent with permanent closure under receivership. Dates of initial suspension aren't given in the excerpts.

Events (5)
1. November 14, 1930 Chartered
Source
historical_nic
2. January 20, 1932 Receivership
Source
historical_nic
3. December 5, 1933 Receivership
Newspaper Excerpt
MT. Glenn, receiver for the closed Bozeman Waters First National bank of Poseyville, under arrest today on federal warrant charging embezzlement. George A. Bittler, Evansville, was appointed his successor. (Vincennes Sun-Commercial, 1933-12-05).
Source
newspapers
4. October 25, 1934 Other
Newspaper Excerpt
A dividend of 35 per cent will be available to depositors of the closed Bozeman Waters First National bank ... Payments will be made on presentation of receiver's certificates at the bank. The payment will bring to a total of 60 per cent the amount paid to depositors since the bank's suspension, Heitman said. (Princeton Daily Clarion, 1934-10-25).
Source
newspapers
5. * Suspension
Cause Details
Article notes the bank is closed but does not specify the trigger for suspension (no run described).
Newspaper Excerpt
the closed Bozeman Waters First National bank of Poseyville
Source
newspapers

Newspaper Articles (2)
1. December 5, 1933 The Vincennes Sun-Commercial Vincennes, IN
Article from The Vincennes Sun-Commercial, December 5, 1933

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Article Text

BANK RECEIVER ARRESTED FOR EMBEZZLEMENT MT. Glenn, receiver for the closed Bozeman Waters First National bank of Poseyville, under arrest today on federal warrant charging embezzlement. George A. Bittler, Evansville, was appointed his successor. VISITORS IN CITY Mr. and Mrs. K. Miller, of the Chicago Beach hotel, were scheduled to arrive in Vincennes Tuesday for brief visit. Mrs. Miller is a sister of Jake Gimbel. WHAT HAVE TOU FOUND?-

2. October 25, 1934 Princeton Daily Clarion Princeton, IN
Article from Princeton Daily Clarion, October 25, 1934

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Article Text

BANK TO PAY DIVIDEND POSEYVILLE Ind.. Oct. 25.-A dividend of 35 per cent will be available to depositors of the closed BozemanWaters First National bank, beginning Friday, Elmer W. Heitman, receiver. announces. Payments will be made on presentation of receiver's certificates at the bank The payment will bring to a total of 60 per cent the amount paid to depositors since the bank's suspension, Heitman said.