First National Bank - Lebanon, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2057
Charter Number: 2057
Start Date: December 27, 1933
Location: Lebanon, Indiana (40.048, -86.469)

Metadata

Model: gpt-5-mini
Short Digest: 6008230a

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-08-29
Date receivership terminated: 1938-05-12
Share of assets assessed as good: 61.2%
Share of assets assessed as doubtful: 37.5%
Share of assets assessed as worthless: 1.3%

Description

Articles state the First National Bank of Lebanon was placed in receivership by the Comptroller of the Currency and is in process of liquidation; dividends paid by the receiver in 1934. No article mentions a depositor run. Therefore this is a suspension (government receivership) leading to closure/liquidation.

Events (6)

1. October 11, 1872 Chartered

Source: historical_nic

2. August 29, 1933 Receivership

Source: historical_nic

3. December 27, 1933 Receivership

Newspaper Excerpt: Stockholders of the First National bank, which is in receivership, have been ordered by J. F. T. O'Connor, comptroller of the currency, to pay an assessment ... Purpose ... is to raise a fund ... to liquidate the bank's affairs.
Source: newspapers

4. December 27, 1933 Suspension

Cause: Government Action
Cause Details: Placed in receivership by the Comptroller of the Currency; assessment ordered to raise funds to liquidate the bank.
Newspaper Excerpt: Stockholders of the First National bank, which is in receivership, have been ordered by J. F. T. O'Connor, comptroller of the currency, to pay an assessment of $100 on each share of stock.
Source: newspapers

5. March 16, 1934 Other

Newspaper Excerpt: Closed Bank Pays ... A dividend of 55 per cent, representing $275,000, is being paid to holders of claims against the First National bank by the receiver, Lester E. Everett. Previously, a dividend of 5 per cent was paid. About 1,100 persons will receive payments.
Source: newspapers

6. October 30, 1934 Other

Newspaper Excerpt: Distribution of $140,000, representing a dividend of 3 per cent for depositors of the First National bank, which is in process of liquidation, is under way. Nearly 1,500 persons will be paid. Previously a dividend of 55 per cent ... Lester E. Everett is receiver of the bank.
Source: newspapers

Newspaper Articles (3)

1. December 27, 1933 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, December 27, 1933

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Article Text

Bank Stock Assessed By Times Special LEBANON, Dec. 27. - Stockholders of the First National bank, which is in receivership, have been ordered by J. F. T. O'Connor, comptroller of the currency, to pay an assessment of $100 on each share of stock. Purpose of the assessment, the comptroller stated, is to raise a fund of $100,000 with which to liquidate the bank's affairs.

2. March 16, 1934 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, March 16, 1934

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Article Text

Closed Bank Pays By Times Special LEBANON, March 16.-A dividend of 55 per cent, representing $275,000, is being paid to holders of claims against the First National bank by the receiver, Lester E. Everett. Previously, a dividend of 5 per cent was paid. About 1,100 persons will receive payments.

3. October 30, 1934 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, October 30, 1934

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Article Text

Indiana in Brief By Times Special EBANON, Oct. 30.-Distribution of $140,000, representing a dividend L of 3 per cent for depositors of the First National bank, which is in process of liquidation, is under way. Nearly 1,500 persons will be paid. Previously a dividend of 55 per cent, for a total of $271.000 was paid. Lester E. Everett is receiver of the bank.