5463. First National Bank (Russiaville, IN)

View Charter #5524 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5524
Charter Number
5524
Start Date
December 30, 1932
Location
Russiaville, Indiana (40.418, -86.271)

Metadata

Model
gpt-5-mini
Short Digest
36653637b98d8ec4

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1932-12-30
Date receivership terminated
1937-09-28
Share of assets assessed as good
46.6%
Share of assets assessed as doubtful
24.0%
Share of assets assessed as worthless
29.5%

Description

Articles indicate the Russiaville First/National Bank failed to reopen at end of December 1932 and a receiver (Frank W. Bryant) was appointed early 1933. The bank remained closed (receiver handled payouts and foreclosures); dividends to depositors were paid in 1933–1934. No clear contemporaneous run on the bank is described in these items, so this is a suspension followed by permanent closure/receivership. OCR variants (Russiaville National vs Russiaville First National) are treated as the same institution.

Events (8)
1. August 1, 1900 Chartered
Source
historical_nic
2. December 30, 1932 Receivership
Source
historical_nic
3. December 30, 1932 Suspension
Cause Details
Bank failed to reopen at end of December 1932; articles describe it as passing out of active operation amid the banking storm but do not attribute the suspension to a specific rumor, run, or government order.
Newspaper Excerpt
the failure of the bank to reopen for Friday
Source
newspapers
4. January 1, 1933 Receivership
Newspaper Excerpt
Frank W. Bryant, receiver for the Russiaville National Bank, who was appointed the first of the year, started payment of the first dividend to depositors Monday morning.
Source
newspapers
5. August 26, 1933 Other
Newspaper Excerpt
Payment of a 40 per cent dividend to depositors of the defunct Russiaville National bank ... was announced here today by Frank W. Bryant, receiver.
Source
newspapers
6. September 26, 1933 Other
Newspaper Excerpt
The receiver is paying a 40 per cent dividend of the amount each depositor had in the bank at the time it was closed ... Distribution of the dividend will continue from day to day until all checks have been passed out.
Source
newspapers
7. April 3, 1934 Other
Newspaper Excerpt
Dividends of the Russiaville National bank will be 20 per cent, representing $15,000, according to the receiver, Frank W. Bryant.
Source
newspapers
8. December 10, 1934 Other
Newspaper Excerpt
by Bryant as receiver of the Russiaville First National bank against John M. Stout ... In the other case the receiver asks judgments totalling $651.44 on notes.
Source
newspapers

Newspaper Articles (8)
1. December 30, 1932 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, December 30, 1932

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Article Text

from Page are DeLon. Samuel NewGordon, and Howard The Russiaville National Bank in and for organized thirty-two years has served its community well financial instiFor It did tution. many years comparatively large steadily profitable The peak was reached deposits. few only after years ago. the current got under way that the bank began to experIn Russiaville. the failure of the bank to reopen for Friday while causing some and some brought prise few, any, reflections upon the institution's officers and directors. The prevailing seemed be that they had done their best weather the storm and be with entitled to than complained of for not rather able ride out the tempest. being The Institution at the bank in Howard county. Its passing leaves only banks, both state one Kokomo and one in the county. was the second financial institution the county fold within the year. The Hemlock State other was which suspended operations last

2. August 26, 1933 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 26, 1933

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Article Text

DIVIDEND PAID BY BANK 40 Per Cent Given Depositors of Russiaville National. By United Press KOKOMO, nd., Aug. 26. - Payment of a 40 per cent dividend to depositors of the defunct Russiaville National bank, totalling about $25,000, was announced here today by Frank W. Bryant, receiver.

3. August 26, 1933 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 26, 1933

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Article Text

DIVIDEND PAID BY BANK 40 Per Cent Given Depositors of Russiaville National. By United Press KOKOMO, Ind., Aug. 26.-Payment of a 40 per cent dividend to depositors of the defunct Russiaville National bank, totaling about $25,000, was announced here today by Frank W. Bryant, receiver.

4. September 26, 1933 The Tipton Daily Tribune Tipton, IN
Article from The Tipton Daily Tribune, September 26, 1933

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Article Text

PAYING DIVIDEND. Checks for 40 Per Cent of Deposits Issued at Russiaville. Frank W. Bryant, receiver for the Russiaville National Bank, who was appointed the first of the year, started payment of the first dividend to depositors Monday morning. When the bank opened there was string of depositors waiting and the payments were made by John Shrock and Mrs. Elsie Gordon. employes of the bank. The receiver is paying a 40 per cent dividend of the amount each depositor had in the bank at the time it was closed and it will amount to approximately $40.000. Distribution of the dividend will continue from day to day until all checks have been passed out.

5. September 26, 1933 The Tipton Daily Tribune Tipton, IN
Article from The Tipton Daily Tribune, September 26, 1933

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Article Text

PAYING DIVIDEND. Checks for 40 Per Cent of Deposits Issued at Russiaville. Frank W. Bryant. receiver for the Russiaville National Bank. who was appointed the first of the year, started payment of the first dividend to depositors Monday morning. When the bank opened there was a string of depositors waiting and the payments were made by John Shrock and Mrs. Elsie Gordon, employes of the bank. The receiver is paying a 40 per cent dividend of the amount each depositor had in the bank at the time It was closed and it will amount to approximately $40.000. Distribution of the dividend will continue from day to day until all checks have been passed out.

6. April 3, 1934 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, April 3, 1934

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Article Text

Closed Banks to Pay By Times Special KOKOMO, April 3.-Two closed banks in Howard county will pay dividends within the next thirty days, receivers announce. Dividends of the Russiaville National bank will be 20 per cent, representing $15,000, according to the receiver, Frank W. Bryant. Amount of dividend of the People's Trust and Savings bank of Kokomo, to be paid about April 15, has not yet been determined by Charles F. Mahin, receiver. Previously, the bank had paid dividends of 5 and 10 per cent.

7. June 26, 1934 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, June 26, 1934

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Article Text

Adjournment Expected About Last of July; New Term Opens September 10. VENUED CASES INCLUDED Several Damage Suits Also Scheduled to Be Heard fore Adjournment. The April term of circuit court probably will adjourned late month or the first of August, the term will open Judge Joseph Cripe said Tuesday number of cases for trial during the remainthis month and in Among them important Including the of Youngblood, Peru city schools, the city school board from replacing with another man: two actions former Peru city firemen and back pay: the charge by the trustee of the Isaac Wright trust that belonging by the CitiState Bank of others. Several Cases Remain. The trial calendar for the of this week includes case Thursday, Snyder versus filed the result automobile suit note Romack against George Robinson Roscoe which Robinson filed for change of from the county; and three cases for Friday. complaint note by Clayton against Frank judgment by Beryl Gordon and Helen against Knight and receiver the Russiaville First National bank, and an action by State Life Insurance company against The suit by Superintendent Youngblood against the school board Peru for July and the same day paternity charge by state Dorothy Rodman against Noel Croslay scheduled. trial set for the case of Larson against Emanuel Marner and Carl Amos July in which plaintiffs are seeking 51,230 Other Peru Cases. The first two suits by Peru, filed against the council, the city clerk, and the city itself venued here from the Miami county circuit July Ellis and he alleges that discharged because of political reasons, and entitled to his back for the time he has pay not been similar plaint by Forest pendand for July Other hearings listed for July those versus Johnson and Bimbas versus The Barnett Bottle company plaintiff suit against trude Golden set for trial Another jury case is set for July the Kokomo Clinic being the plaintiff and the Northern Power company clinic alleges overchargfor electric asks rebate of civil by against Lawson July Several Damage Cases. An action for the result automobile crash, Donald against the Kroger the calendar for trial July venued from the Miami circuit On July 13 the court will proceedings the divorce sult of Morris growing autoniocollision county Harve Cline Ray and Dale Vawter, July The hearing in the Wright which the Union Bank Trust to the bank trustee, former trustee lost the the value was through July Trial this heard this term, expected to take nearly week. Other cases the calendar Andy David Lymon and Burt for possession of mule, July Reed, July Van Bibber Rosalthea Clara David Clifford and which $3,000 for agreement for the the plaintiff asked, July

8. December 10, 1934 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, December 10, 1934

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Article Text

BANK RECEIVER FILES FORECLOSURE SUITS Foreclosure actions have been filed in circuit court by Frank W. Bryant, receiver of the Citizens National bank, against EM Heaton, Susannah Heaton, the Fairlawn Realty Co., and the Bankers Trust Co. of Indianapolis as receiver for the Fairlawn company. and by Bryant as receiver of the Russiaville First National bank against John M. Stout, Mary L. Stout, and Louie Blanche Stout. In the suit against Heaton the receiver asks judgment for $4,000 and costs on a note given to the Kokomo Trust Co. in 1920, requests that a receiver for mortgaged farm property be named and the land sold. In the other case the receiver asks judgments totalling $651.44 on notes. Overson and Manning represent the receiver.