5458. First National Bank (Rockport, IN)

View Charter #6194 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6194
Charter Number
6194
Start Date
February 1, 1933*
Location
Rockport, Indiana (37.884, -87.053)

Metadata

Model
gpt-5-mini
Short Digest
c04d18c0c979f76b

Response Measures

None

Receivership Details

Depositor recovery rate
53.4%
Date receivership started
1933-03-03
Date receivership terminated
1936-07-31
Share of assets assessed as good
43.9%
Share of assets assessed as doubtful
44.1%
Share of assets assessed as worthless
12.0%

Description

Articles (mid-1933) indicate the First National Bank of Rockport closed in February 1933 and was placed in receivership; a federal receiver (Harry L. Lanum) is suing stockholders in July 1933 and judgments were awarded in October 1933. No article describes a depositor run prior to suspension; evidence points to bank-specific insolvency/irregularities and subsequent receivership. Closure date is given as closed Feb. in a Sept. 1933 article; year inferred as 1933 from surrounding publication dates.

Events (5)
1. April 7, 1902 Chartered
Source
historical_nic
2. February 1, 1933* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed in February (1933); books examined and irregularities/deficiencies discovered leading to closure and federal investigation.
Newspaper Excerpt
The bank closed Feb. and reFeb. When the books were being examined, ...
Source
newspapers
3. March 3, 1933 Receivership
Source
historical_nic
4. July 7, 1933 Receivership
Newspaper Excerpt
Rockport Bank Receiver Sues Six Stockholders ... named defendants in suit filed in federal by Harry receiver the bank, asking collection stock assessments alleged individual liability ... (article dated 1933-07-07).
Source
newspapers
5. October 12, 1933 Other
Newspaper Excerpt
Judgments totaling $19,000 were awarded Harry Lanum, Rockport, Ind., First National Bank against defendants in Federal Court late Wednesday. The judgments were mostly double liability assessments against stockholders or on notes.
Source
newspapers

Newspaper Articles (4)
1. July 7, 1933 Messenger-Inquirer Owensboro, KY
Article from Messenger-Inquirer, July 7, 1933

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Article Text

Rockport Bank Receiver Sues Six Stockholders Ind., stockholders the First National bank of Rockport named defendants in filed in federal by Harry receiver the bank, asking collection stock assessments alleged individual liability The defendants and judgments asked against them William Kramer Anna $500: Jacob Oliver Henry and Clifford Ham-

2. July 8, 1933 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, July 8, 1933

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Article Text

Rockport Bank Receiver Sues Six Stockholders Evansville, Ind., July - Six stockholders of the First National bank of Rockport are named defendants in suit filed in federal court by Harry L. Lanum, receiver for the bank, asking collection of stock assessments alleged to be due on individual liability as shareholders. The defendants and judgments asked against them are William J. Kramer, $1,000; Anna Ballard. $500: Jacob Weller. $1,000; Oliver P. M. Thurman, $1,000; Henry Maas, $2,800. and Clifford Hammong, $200. Italian air lines have flow 20,500,000 without an acclCent in the last six years.

3. September 13, 1933 Evansville Press Evansville, IN
Article from Evansville Press, September 13, 1933

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Article Text

U. JURY INVESTIGATES BANK AT ROCKPORT Ind federal grand jury investigation the Rockport National Bank under way bank receiver Huffman, Anna Dye and Lora been to testify The bank closed Feb. and reFeb. When the books were being examined, ished and to after his accounts were reported

4. October 12, 1933 Evansville Press Evansville, IN
Article from Evansville Press, October 12, 1933

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Article Text

BANK RECEIVER IS AWARDED JUDGMENTS Judgments totaling $19,000 were awarded Harry Lanum, Rockport, Ind., First National Bank against defendants in Federal Court late Wednesday. The judgments were mostly double liability assessments against stockholders or on notes.