5605. Farmers National Bank (Wilkinson, IN)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
9279
Charter Number
9279
Start Date
September 12, 1930
Location
Wilkinson, Indiana (39.886, -85.609)

Metadata

Model
gpt-5-mini
Short Digest
0658507728399ade

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
77.5%
Date receivership started
1930-09-19
Date receivership terminated
1937-09-24
OCC cause of failure
Economic conditions
Share of assets assessed as good
50.9%
Share of assets assessed as doubtful
45.8%
Share of assets assessed as worthless
3.3%

Description

Newspapers from Septโ€“Oct 1930 report steady withdrawals (a run) that led the Wilkinson Farmers National Bank to voluntarily close in mid-September 1930; a federal receiver (Robert G. Hartman) was appointed and the bank remained closed with dividends later paid (Mar 1931). OCR variants in articles referenced First National in one item, but multiple items clearly identify the Wilkinson Farmers National Bank. Dates inferred from publication wording (last Thursday relative to Sept 25, 1930 = ~1930-09-18).

Events (6)

1. November 21, 1908 Chartered
Source
historical_nic
2. September 12, 1930 Run
Cause
Bank Specific Adverse Info
Cause Details
Steady withdrawals as deposits were tied up in real estate and other securities, producing liquidity strain and depositor runs.
Measures
Bank officials voluntarily closed the bank after heavy withdrawals; federal examiner visited prior to receiver appointment.
Newspaper Excerpt
Steady withdrawals of deposits during the past week is believed to have been responsible for the bank's suspension of operation
Source
newspapers
3. September 18, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Voluntary suspension following heavy withdrawals and illiquid assets (money tied up in real estate and securities).
Newspaper Excerpt
Wilkinson Farmers National Bank, which voluntarily closed its doors last Thursday
Source
newspapers
4. September 19, 1930 Receivership
Source
historical_nic
5. September 24, 1930 Receivership
Newspaper Excerpt
Robert Hartman ... has been notified from Washington of his appointment as receiver for the First National bank of Wilkinson ... Robert G. Hartman ... been appointed receiver for the Wilkinson Farmers National Bank.
Source
newspapers
6. March 5, 1931 Other
Newspaper Excerpt
Robert ... receiver for the Wilkinson NationBank, has announced that he will distribute forty or fifty per cents dividend to the depositors ... This will be the first payment that the receiver has made to the depositors since the bank voluntarily closed last November.
Source
newspapers

Newspaper Articles (5)

Article from The Indianapolis Times, September 24, 1930

Click image to open full size in new tab

Article Text

Bank Receiver Appointed By Times Special NOBLESVILLE, Ind., Sept. 24.Robert Hartman of this city has been notified from Washington of his appointment as receiver for the First National bank of Wilkinson, which was closed a few days ago. This is the fifth bank in central Indiana for which Hartman is acting as receiver, the other being the First National of Sheridan and the First National, Farmland.


Article from The Indianapolis Times, September 24, 1930

Click image to open full size in new tab

Article Text

RUSSELL, IRISH SAGE, IN FOR LECTURES Comes to Preach Importance of Agriculture; Frowns on Cities. NEW YORK, Sept. Russell, and letters, has the United States, where trend to the cities, to preach importance Russell, under his will spend the next lectures which advocate adherence to the 'After three and four generations cities tends deteriorate and there retrocession animal the said. "People who the open air get an original rude strength which is impossible cities." Russell will addresse rural groups various parts the country the hope keeping them away from cities and slums. Bank Receiver Appointed Ind., Sept. Robert Hartman this city has notified from Washington his receiver for the First National bank of Wilkinson, which closed few days This fifth central diana for which Hartman acting the other being First National Sheridan and National, Farmland.


Article from The Hancock Democrat, September 25, 1930

Click image to open full size in new tab

Article Text

Autos Collide at State and Main Two Ford driven by Mrs Ruth and driven by at intersection of State Main Mrs Durham wrist was injured and slight damage to driving Attend District Council Fannie Mrs. Clara Jud Mrs Hagans attended the Sixth district council meeting of the of Clubs at Mt Sum Friday The resignation of Beatrice Swallow of the district In the high school football Saturdays last the New Castle and ilkinson the result as follows New Will Auto Accident Brings Injuries To Two Miss Thelma Watson and Miss Opal Rash. who live near sustained and other injuries in an automobile wreck. when the car in which they were riding struck a tree along road No. at Eden Fanny Watson, driver of the Ford roadster, escaped injury The three employed at the Columbia Grille in this city and were returning to their homes when the accident occurred about four o'clock Thursday evening Miss Rash was taken to the Murpin home at Eden and Miss Watson to the Trueblood home. The first report indicated that the young ladies were ser iously hurt but an examination of their injuries revealed that they were not of a serious nature. Miss Rash suffered cut on the knee, bad cut on the head and other injuries Miss Wat son's injuries were similar Several stitches were required to close the wounds. Both of the ladies were able to return to their homes the following day The Watson car was following another automobile into Eden The car in the lead slowed up to stop and Miss Watson swerved to the right side of the road to avoid hitting it. She was unable pull over to the left side of the road of an approaching The Ford darted to the right the road where it struck a tree The automobile was damaged Mother Of Six Children Asks Divorce Mrs M Gordon, has filed suit in the Hancock circuit alleging that her husband, Frank Gordon. has failed to make support for her and six during the past five years says they were married August 24. and the following children born to them. Dallas 12, Mary 11, Thomas 8. Evelyn 6. Everett Max Earl months Mrs Gordon asserts that the defenproper person hildren and asks the court her the custody of chil ompel the husband to pay for their support At time the plaintiff and her children living with Mrs. Gorparents Mr and Mrs John Pat of Chas Tin dall the plaintiff's Youth is Victim of Auto Accident week when James In eight year old son of of killed Th on state about three o'clock Saturday after The youth was riding on and unaware of the the Gillette of to in time the Death few before anything done to save his Fire Burns Roof Off Home Edward Pratt residence on West North street was de by fire about eight o'clock Sunday morning Practically the tire roof burned and will have be replaced The fire is believed started from spark on the roof The flames were well under way when the alarm turned in Members the fire department did good work in not only the in minimum length of but they kept the damage down by work An inch and a half used on the large hose, giv ing firemen greater which efficient in putting the Little damage was done to the house than the roof Pleads Guilty in City Court entered plea of guilty to a charge of trans liquor in city court Monday fined $100 and costs by Mayor Downing Beher arrested last Saturday his automobile had sideswiped a through The police and found pints of liquor in the Indian The man and plea of guilty There no Saturday Receiver Named for Bank Robert G. Hartman of Noblesville, been appointed receiver for the Wilkinson Farmers National Bank. which voluntarily closed its doors last Thursday Since the bank was closed a week no statement has been made as to whether depositors will be paid in full However, reports from outside sources indicate that the institution will be able to meet most, if not all, of its obligations Harry Fuller, Federal bank exam iner. was at the bank Thursday and remained there until Hartman was appointed receiver Steady withdrawals of deposits during the past week is believed to have been responsible for the bank's suspension of operation It is also said that much of the bank's money was tied up in real estate and other securities Action on the part of bank officials in closing the institution came as a most Hancock county people The bank was established in November 21, 1908, and has been serv ing the agricultural community of Wilkinson for nearly a quarter of a century The bank was capitalized at $25,000 surplus was $32,400 loans and discounts, $197,710 The deposits as shown by the June statement amount $195,170. Officers of the bank at the time the June statement was made W Sowerwine, president D. M Cooper vice president and S. Staley, cashier Robert Spencer of Marion, as well as numerous Wilkinson citizens were interested in the institu tion There are several other banks in the part of the which serving the Wilkinson community during the period of suspension of the Wilkinson bank Wrecks Stolen Automobile Robert Johnson, who been in the Hancock county jail since night, was turned over to a United marshal has been returned Indianapolis Johnson is charged with stealing a Hudson coach at In Cumberland later in he automobile was the property of the United States marshal's office at Indianapolis, fact which tangles the colored man with the federal law on to and according to his he going to his who employed at the Soldiers' and Sailors "hildren's Home Retarded by being without an automobile to drive the distance, the colored man borrowed the parked Hudson and proceeded on way a rapid on the Road east Cumberland at a high rate of speed failed to see the warning sign the center of the road which was placed there to warn motorist of road After striking the sign intomobile bounced from the and overturned in the A motorist brought the to Greenfield and at the same reported the accident Officer " iggins. Johnson told of the permitted to proceed to After visiting the and finding an extra plate inside of automobile Wiggins suspicious and notified the The men Knightstown and Johnson was ap At first the negro main tained that the automobile him but later confessed his Some of the before was claimed by the officers A Wonderful Plant The Canning Factory is in the midst of one the largest they have enjoyed in years bean crop is and short but this pack will be quite large for the try Their tomato pack is very large and of most excellent quality Their product all parts of the Inited States and owing to its is in great demand This said to be of the best of its kind in Indiana. It has more than any factory in the country On last paid out for labor, beans, cans and toma Em is given to fully one hundred and fifty persons


Article from The Anderson Herald, October 22, 1930

Click image to open full size in new tab

Article Text

Hartman's Report Examination. Ind., Oct. receiver of the National Bank of Kilkinson, has the bank for collections and for depositors to file claims. The has made the following the condition of the bank the bank was closed, tember Assets. receivable hand other than Receivacle cash hands Total Liabilities. Liabilities unsecured by pledge the bank. secured by of assets the aggregating collateral 11,057.16 payable secured assets aggregating $36,897.callateral $164,949.59 Total Wilkinson News Notes. Mr. and Albert MurBorn, to boy, Robert Missionary Society of the Christian church will sew for the the home Mrs. Minnie Wednesday IndianaMrs. Guy attended the funeral of their polis, Margaret Burris. aunt, Marlan visited Lesley Mrs. Mary Chew family Shirley. They called and Mrs. Frank on Harlan Mrs. John Cooper spent Mr. Sunday in Indianapolis Mr. Howard Day. Miss Pauline of Bloomington, also Cooper, guest. Mrs. Leonard Bussel, of Mr. and been visiting Mr. have and other relatives. Ord Kuhn John Garriott visited and Mrs. Mr. and Mrs. Mrs. Garriotts parents, Letts. Jennings county. Neal Kemerly enterMr. Mrs. Wemerly family. tained Charles Kathryn Kemerly Mearl Alta. Hasting has taken employment Don New the Babbit Indianapolis. Burgerner and Rev. David Cooper attended and Mrs. Shirley Methodist home coming at church. Ida of Mrs. Mrs. Elizabeth Copeguest of George of Mr. and Mrs. Ella Fuson and Burington, Mrs. were guests of daughter. of Fudge Mr. and Staley enterMr. and Mrs. tained Sunday Mr. and Mrs. Indianapolis, and Guy of Staley, Dorothy John Huppand Smith, NewFlora of Matt Cook and castle. were guests family.


Article from Greenfield Republican, March 5, 1931

Click image to open full size in new tab

Article Text

DIVIDEND TO DEPOSITORS OF WILKINSON Robert of receiver for the Wilkinson NationBank, has announced that he will Idistribute forty or fifty per cents dividend to the depositors short This will be the first payment that the receiver has made to the positors since the bank voluntarily closed last November. Within the last two or three years this bank has failed twice. The took over the old bank and along with there to have been $92,000 worth of paper held by the old organization. some which was doubtful. The carrying of these securities on which money could not be leased immediately, said to have been reason for the institution closing the second time.