Hutchings First National Bank - Siloam Springs, AR

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 13506
Charter Number: 13506
Start Date: January 21, 1932
Location: Siloam Springs, Arkansas (36.188, -94.540)

Metadata

Model: gpt-5-mini
Short Digest: 6f68ef9f

Response Measures

None

Receivership Details

Depositor recovery rate: 8.8%
Date receivership started: 1931-11-02
Date receivership terminated: 1937-09-21
Share of assets assessed as good: 10.8%
Share of assets assessed as doubtful: 51.6%
Share of assets assessed as worthless: 37.6%

Description

Article (Jan 21, 1932) reports L. R. Kershaw as receiver for Hutchings First National Bank and filing suit — indicates the bank was in receivership/closed. The article does not describe any run or explicit prior suspension text, but the presence of a receiver implies permanent closure; classified as suspension_closure.

Events (3)

1. December 6, 1930 Chartered

Source: historical_nic

2. November 2, 1931 Receivership

Source: historical_nic

3. January 21, 1932 Receivership

Newspaper Excerpt: Suit was filed ... by L. R. Kershaw, receiver for the Hutchings First National bank of Siloam Springs, Ark., against the Grand National bank of St. Louis ... to recover notes ...
Source: newspapers

Newspaper Articles (1)

1. January 22, 1932 The Springfield News-Leader Springfield, MO

Article from The Springfield News-Leader, January 22, 1932

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Article Text

OZARKS BANK RECEIVER FILES SUIT AT ST. LOUIS ST. LOUIS, Jan. 21.-(AP)-Suit was filed in federal court here late today by L. R. Kershaw. receiver for the Hutchings First National bank of Siloam Springs, Ark., against the Grand National bank of St. Louis and Ed Mays, its president, to recover notes of $50,000 aggregate face value. Damages of $2000 also are sought. The notes, it is alleged, were taken wrongfully from the Siloam bank by the Grand National bank which has refused to return them. About notes are involved, the face value of which ranges from $10 to $7000. RATE IS UNCHANGED NEW YORK, Jan. 21-(AP)-The New York Federal Reserve bank today announced no change in the 3½ percent rediscount rate.