Sheridan National Bank - Sheridan, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 13050
Charter Number: 13050
Start Date: December 27, 1927
Location: Sheridan, Indiana (40.135, -86.221)

Metadata

Model: gpt-5-mini
Short Digest: 6482f16f85a5b2fd

Response Measures

None

Receivership Details

Depositor recovery rate: 51.1%
Date receivership started: 1931-02-09
Date receivership terminated: 1939-03-29
OCC cause of failure: Economic conditions
Share of assets assessed as good: 49.3%
Share of assets assessed as doubtful: 31.1%
Share of assets assessed as worthless: 19.6%

Description

Article reports that Ora Davies was named receiver of the National banks of Noblesville and Sheridan and is resigning as receiver following an indictment. This indicates the Sheridan National Bank was placed in receivership (i.e., closed) rather than merely experiencing a run or temporary suspension. No explicit run or reopening is described in the provided text.

Events (3)

1. March 15, 1927 Chartered

Source: historical_nic

2. December 27, 1927 Receivership

Newspaper Excerpt: Ora Davies ... announced he would resign as receiver of National banks Noblesville and Sheridan in view of his indictment ... was named receiver of the banks on the recommendation of Sen. James E. Watson.
Source: newspapers

3. February 9, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. December 28, 1927 Evansville Courier and Press Evansville, IN

Article from Evansville Courier and Press, December 28, 1927

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Article Text

INDICTED BANK RECEIVER QUITS WASHINGTON D. C., Dec. 27 (Special)-Ora Davies, former Indiana state treasurer, following call today on the controller of the currency, announced he would resign as receiver of National banks Noblesville and Sheridan in view of his indictment by the Howard coungrand jury in connection with the affairs the American Trust company of Kokomo was named receiver of the banks on the recommendation of Sen. James E. Watson. He failed to see Watson while here as the senator is in Indiana on political mission with view to reorganizing the party and bringing Frank C Ball of Muncle for goveris will hold conferences in Winchester, Indianapolis, South Bend, Chicago and Evansville.