6109. First National Bank (Montpelier, IN)

View Charter #5278 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5278
Charter Number
5278
Start Date
March 1, 1933*
Location
Montpelier, Indiana (40.554, -85.277)

Metadata

Model
gpt-5-mini
Short Digest
d8eef68a

Response Measures

None

Receivership Details

Depositor recovery rate
68.9%
Date receivership started
1933-10-03
Date receivership terminated
1939-07-18
Share of assets assessed as good
39.9%
Share of assets assessed as doubtful
55.7%
Share of assets assessed as worthless
4.4%

Description

The First National Bank of Montpelier was placed on restricted basis/closed during the March 1933 banking holiday and operated under a conservator; a federal receiver was appointed Oct 4, 1933. No article describes a depositor run. Thus this is a suspension that led to permanent closure/receivership.

Events (4)
1. April 9, 1900 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Bank closed/placed on restricted basis during the March 1933 banking holiday and operated under a conservator thereafter.
Newspaper Excerpt
Merrill Tewksberry, president of the Montpelier bank, has served as conservator for the institution since the banking holiday in March.
Source
newspapers
3. October 3, 1933 Receivership
Source
historical_nic
4. October 4, 1933 Receivership
Newspaper Excerpt
George K. Jones, of Warren, was appointed receiver of the First National Bank here today by the comptroller of the currency and assumed his duties immediately. ...Merrill Tewksberry, president of the Montpelier bank, has served as conservator for the institution since the banking holiday in March. The bank was robbed for the second time a few months ago and about $11,000 taken Montpelier Short Notes. (Article dated Oct. 4, 1933).
Source
newspapers

Newspaper Articles (2)
1. October 5, 1933 The Star Press Muncie, IN
Article from The Star Press, October 5, 1933

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Article Text

BANK RECEIVER BEGINS DUTIES Warren Man In Charge Of Montpelier Institution. Montpelier, Ind., Oct. 4.-George K. Jones, of Warren, was appointed receiver of the First National Bank here today by the comptroller of the currency and assumed his duties immediately. He will be assisted in closing the bank's business by R. L. Mossburg, also of Warren. Mr. Jones is an official in the Warren bank. Merrill Tewksberry, president of the Montpelier bank, has served as conservator for the institution since the banking holiday in March. The bank was robbed for the second time a few months ago and about $11,000 taken Montpelier Short Notes. A daughter was born to Mrs. Ross Cramer last night. Mr. and Mrs. Lee Penrod are the parents of a son, born recently The Missionary Guild, of the Methodist Church, held an all-day social meeting at the home of Floss Dick, west town, yesterday. A carry-in dinner was served to the following mesdames Dorothy Green, Rozella Buroker, Ethel Berry, Mildred Arbuckle, Audra Cline, Violet Williams, Frances Wilson, Ione Sites, Ethel St. John, Mabel Thornburg, Grace Mahorney, Helen Mahorney, Miss Anne Shields and her sister and the hostess, Floss Dick. The Neighborhood Club will meet Thursday afternoon at the home of Miss Anne Shields. The Five Points Club will hold an all-day meeting Thursday at the home of Mrs. Roy Shadle. A birthday gathering in honor of Mrs. Dale Confer was held Sunday.

2. May 25, 1934 The Star Press Muncie, IN
Article from The Star Press, May 25, 1934

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Article Text

BANK RECEIVER TAKES CHARGE J. H. Heller Named to Serve at Hartford City. Hartford City, Ind., May 24.-John H. Heller, of Decatur, today took charge of the First National Bank in this city as federal receiver. The bank will be closed for a few days, during which time the books will be checked and a receipt given to Earl Reasoner, who has served as conservator since March 28, 1933. The order for the appointment of a receiver came from the office of the comptroller of currency in Washington. Notes Reduced $66,000. Following the bank moratorium of last March, the bank was placed on restricted basis and later the conservator was named. During the year that has passed since that time, all bills payable, totalling $38,000, have been paid and the notes due the bank have been reduced by $66,000. The bank has deposits of $243,000. Liquidation by the receiver will be started as soon as possible. Word has been received here that the North Central Association has again accredited the Hartford City high school for another year. Commencement Tonight. Fred G. Bale, of Columbus, O., will be the speaker at the annual commencement exercises of the Hartford City High School here tomorrow evening The exercises will be held at the high school gym. The graduating exercises for the Holy Family school were held here this evening. Dr. Royal J. Dye was the speaker at the Christian Church this evening He is a pioneer missionary from the Belgian Congo district of Africa. The David Townsend will was filed for probate in the Blackford Circuit Court here today. M. C. Townsend, a son, lieutenant governor, is named as executor. The estate goes to the widow. County Funds Recovered. County Auditor Luther Speidel today announced that all county funds, totalling $13,029.53, which were in the First National Bank at Montpelier when that institution was closed last year, have been from the bonding company and the state sinking fund. The city council, at special meeting this evening. heard further discussion of the proposed sewage disposal plant. The funeral of Mrs. Martha Long will be conducted at 2 o'clock Friday afternoon at the Church of God in Roll. Floyd Lewis has purchased the Frank Howell grocery store in North Cherry street. A number of people from this city will go to Marion tomorrow afternoon to attend the funeral of John A. Jones, political leader. Mrs. William Glancy, of this city, is a daughter.,