First National Bank & Trust Company

Episode Information

Episode UID: 587601590
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 58760 national
Charter Number: 5876
Start Date: June 1, 1932*
Location: Chicago Heights, Illinois (41.506, -87.636)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: c188dc877052b14b

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1932-07-07
Date receivership terminated: 1938-05-21
Share of assets assessed as good: 14.2%
Share of assets assessed as doubtful: 73.4%
Share of assets assessed as worthless: 12.4%

Description

Article states the institution closed in June 1932 and a receiver was handling collections.

Events (3)

1. June 24, 1901 Chartered

Source: historical_nic

2. June 1, 1932* Receivership

Newspaper Excerpt: action to collect a 100 percent assessment on 250 shares of the bank stock, after the institution closed in June, 1932.
Source: newspapers

3. July 7, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 12, 1935 The Tampa Tribune Tampa, FL

Article Text

Thomas pleaded guilty to liquor law violation, but was not prosecuted for the alleged attempted bribe. The appellate court also reversed and remanded to the southern Florida district federal court a case in which there was a judgment in favor of Edward R. Davis, sr., against whom John L. Schlener, as receiver of the First National Bank & Trust company of Chicago Heights, Ill., brought action to collect a 100 percent assessment on 250 shares of the bank stock, after the institution closed in June, 1932. Davis, records showed, transferred 250 shares of bank stock to two of his sons, who were officers of the bank. The receiver held that while there was an apparent transfer of the stock, Davis was still owner of the stock, and liable for the assessment.