First National Bank - Boswell, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5476
Charter Number: 5476
Start Date: March 4, 1933
Location: Boswell, Indiana (40.521, -87.378)

Metadata

Model: gpt-5-mini
Short Digest: 4ad0f189

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-10-03
Date receivership terminated: 1937-05-24
Share of assets assessed as good: 55.9%
Share of assets assessed as doubtful: 31.8%
Share of assets assessed as worthless: 12.3%

Description

Article reports the bank had been on a limited withdrawal basis and under a conservator since the moratorium of March 4, 1933; a receiver (Will Duffey) was appointed by the Comptroller in early October 1933. No run is described in the text, so this is classified as a suspension followed by closure/receivership (suspension_closure).

Events (4)

1. June 30, 1900 Chartered

Source: historical_nic

2. March 4, 1933 Suspension

Cause: Government Action
Cause Details: Placed on limited withdrawal basis and put in charge of a conservator following the national moratorium declared March 4, 1933.
Newspaper Excerpt: The bank has been on a limited withdrawal basis and in charge of a conservator since the moratorium on March 4th.
Source: newspapers

3. October 3, 1933 Receivership

Source: historical_nic

4. October 3, 1933 Receivership

Newspaper Excerpt: Will Duffey ... received a telegram Tuesday evening from the Comptroller of the Currency at Washington telling him to go to Boswell ... and take charge of the First National Bank at that place as receiver.
Source: newspapers

Newspaper Articles (1)

1. October 6, 1933 The Monticello Journal Monticello, IN

Article from The Monticello Journal, October 6, 1933

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Article Text

Appointed Bank Receiver Will Duffey, of Burnettsville, received a telegram Tuesday evening from the Comptroller of the Currency at Washington telling him to go to Boswell, Benton county, and take charge of the First National Bank at that place as receiver. The bank has been on a limited withdrawal basis and in charge of a conservator since the moratorium on March 4th. The Benton Revew, Fowler, says