Citizens National Bank - Kendallville, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12532
Charter Number: 12532
Start Date: February 10, 1932
Location: Kendallville, Indiana (41.441, -85.265)

Metadata

Model: gpt-5-mini
Short Digest: bae44a69

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1932-03-16
Date receivership terminated: 1936-10-30
Share of assets assessed as good: 30.8%
Share of assets assessed as doubtful: 68.9%
Share of assets assessed as worthless: 0.2%

Description

Article reports the bank closed Feb 10 (1932) and is in receivership (H. C. Springer). No run is mentioned; the bank remains closed and a receiver is administering payouts (40% dividend).

Events (5)

1. April 26, 1924 Chartered

Source: historical_nic

2. February 10, 1932 Receivership

Newspaper Excerpt: according to H. C. Springer of Butler, receiver.
Source: newspapers

3. February 10, 1932 Suspension

Cause: Government Action
Cause Details: Bank closed on Feb 10 and placed in receivership (receiver H. C. Springer).
Newspaper Excerpt: The bank, which closed Feb. 10, will pay out $175,000, according to H. C. Springer of Butler, receiver.
Source: newspapers

4. March 16, 1932 Receivership

Source: historical_nic

5. September 5, 1932 Other

Newspaper Excerpt: A 40 per cent dividend payment will be made to depositors of the closed Citizens National bank here... will pay out $175,000, according to H. C. Springer of Butler, receiver.
Source: newspapers

Newspaper Articles (1)

1. September 5, 1932 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, September 5, 1932

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Article Text

CLOSED BANK TO PAY Forty Per Cent Dividend for Depositors at Kendallville Announced. By United Press KENDALLVILLE, Ind., Sept. 5.A 40 per cent dividend payment will be made to depositors of the closed Citizens National bank here, it was reported today. The bank, which closed Feb. 10, will pay out $175,000, according to H. C. Springer of Butler, receiver.