National City Bank - Indianapolis, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10121
Charter Number: 10121
Start Date: January 1, 1922*
Location: Indianapolis, Indiana (39.768, -86.158)

Metadata

Model: gpt-5-mini
Short Digest: fcd6f592

Response Measures

None

Description

Article reports the National City Bank of Indianapolis failed in 1922; 1930 judgment found directors negligent, citing inadequate reserves, improper loans and risky investment. No mention of depositor run; bank had failed and remained closed (receiver implied).

Events (4)

1. January 2, 1912 Chartered

Source: historical_nic

2. January 1, 1922* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Directors were found negligent: failed to maintain proper reserves, made prohibited large loans, and invested heavily in a bank building while liquid assets were low.
Newspaper Excerpt: the National City Bank of Indianapolis, which failed 1922.
Source: newspapers

3. April 30, 1924 Voluntary Liquidation

Source: historical_nic

4. * Receivership

Newspaper Excerpt: Judge Van Duyn Finds for Arthur B. and Other Stockholders of National City Bank, Indianapolis...the National City Bank of Indianapolis, which failed 1922. Judge Van Duyn held that the [directors] had been careless and negligent in the [management] of the bank's affairs from 1919 to 1922; that they disregarded and violated federal bank laws ... for all of which they should be held liable.
Source: newspapers

Newspaper Articles (1)

1. June 13, 1930 Tri-County Banner Knightstown, IN

Article from Tri-County Banner, June 13, 1930

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Article Text

JUDGMENT FOR A LARGE Judge Van Duyn Finds for Arthur B. and Other Stockholders of National City Bank, Indianapolis. judgment of Judge Arthur Van Duyn in the Hancock county court Greenfield to Arthur Ayers, of New Castle, other of the National City Bank of Indianapolis, which failed 1922. against former of the The former directors named in the suit, which was taken of are Frank M. Millikan, John R. Moorman, Isaac Pinkus and William R. Sprowle, of Indianapolis. Two other members who were named but who bought immunity under authority of the statutes were Leonidas Newby, of Knightstown, and John Prior, Marion, dead. The judgment, said to be the largest awarded civil law bank suit Indiana, will accrue to the benefit all stockholders the National City Bank corporation and not to Mr. Ayers and the plaintiffs alone. Judge Van Duyn held that the had been careless and negligent in the of the bank's affairs from 1919 to 1922; that they disregarded and violated federal bank laws for at least two years in failto hoist proper reserves for protection of depositors and stockholders; that they displayed careless and negligent business judgment investing $375,000 in the $1,200,000 bank buildproject at time when reserves and liquid assets were low and "that they loaned large amounts the bank's money times when the statute under which they operated absolutely prohibited them from the making of such loans, for all of which they should be held liable.