5647. First National Bank (Farmland, IN)

View Charter #6504 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6504
Charter Number
6504
Start Date
September 23, 1930
Location
Farmland, Indiana (40.188, -85.127)

Metadata

Model
gpt-5-mini
Short Digest
e28660fa

Response Measures

None

Receivership Details

Depositor recovery rate
30.0%
Date receivership started
1928-11-03
OCC cause of failure
Losses
Share of assets assessed as good
9.1%
Share of assets assessed as doubtful
51.0%
Share of assets assessed as worthless
40.0%

Description

Articles (Sept. 23–24, 1930) report a receiver (Robert Hartman) appointed for the First National Bank of Farmland. A November article (Nov 8, 1930) refers to the closed First National bank and distribution of checks to depositors, indicating the bank remained closed and in receivership. No run is described.

Events (6)
1. November 24, 1902 Chartered
Source
historical_nic
2. December 31, 1925 Voluntary Liquidation
Source
historical_nic
3. November 3, 1928 Receivership
Source
historical_nic
4. September 23, 1930 Receivership
Newspaper Excerpt
Robert Hartman has received notice ... of his appointment as receiver for the First National ... the First National Bank, of Farmland.
Source
newspapers
5. September 23, 1930 Suspension
Cause
Government Action
Cause Details
Federal appointment of a receiver led to the bank's closing/suspension.
Newspaper Excerpt
Robert Hartman has received notice ... of his appointment as receiver for the First National ... the First National Bank, of Farmland.
Source
newspapers
6. November 8, 1930 Other
Newspaper Excerpt
800 depositors of the closed First National bank receive checks during the next thirty days, covering their share ... has Hartman, Noblesville, receiver of the bank.
Source
newspapers

Newspaper Articles (3)
1. September 23, 1930 The Indianapolis News Indianapolis, IN
Article from The Indianapolis News, September 23, 1930

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Article Text

NAMED BANK RECEIVER Robert Hartman, Noblesville, to Take Over Institution. Ind., September 23. Robert Hartman has received notice from of his as receiver for the First National days ago. This is the fifth bank in central Indiana for which Hartman is now acting as receiver, the others being the First National Bank. of Noblesville: the First National Bank. Arcadia the First National Bank, Sheridan, and the First National Bank, of Farmland.

2. September 24, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, September 24, 1930

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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.

3. November 11, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 11, 1930

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Article Text

BANK WILL CLOSED PAY AT FARMLAND Receiver Admits Return of Federal Indictment to Be Possible. FARMLAND, Ind., Nov. 800 depositors of the closed First National bank receive checks during the next thirty days, covering their share 25 per has Hartman, Noblesville, receiver of the bank. The has the assertion W. Greene, president charges probably would preferred against Glen Turner, cashier. Gone, but Not Forgotten reported to police Butlef. BACK HOME South found 1421