First National Bank - Shelbyville, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1263
Charter Number: 1263
Start Date: February 3, 1932
Location: Shelbyville, Indiana (39.521, -85.777)

Metadata

Model: gpt-5-mini
Short Digest: 13888b30

Response Measures

None

Receivership Details

Depositor recovery rate: 85.8%
Date receivership started: 1932-02-10
Date receivership terminated: 1939-01-31
Share of assets assessed as good: 45.1%
Share of assets assessed as doubtful: 51.0%
Share of assets assessed as worthless: 3.9%

Description

Articles describe the First National Bank of Shelbyville closing in early February 1932 with an examiner taking charge and a receiver (Morton Lamb) later administering dividends in 1935. No run is reported; the bank was closed and placed in receivership, so this is a suspension that turned into permanent closure/receivership.

Events (5)

1. June 10, 1865 Chartered

Source: historical_nic

2. February 3, 1932 Receivership

Newspaper Excerpt: Morton Lamb, receiver for the First National Bank of Shelbyville, which closed Feb. 3, 1932, announced that a 35 per cent dividend will be paid in a few weeks.
Source: newspapers

3. February 3, 1932 Suspension

Cause: Government Action
Cause Details: Directors closed the bank and the national bank examiner took charge; bank placed under official control/receivership.
Newspaper Excerpt: First National Bank of Shelbyville, which closed Feb. 3, 1932
Source: newspapers

4. February 10, 1932 Receivership

Source: historical_nic

5. February 11, 1932 Other

Newspaper Excerpt: First National Bank of Shelbyville Closes Its Doors ... the national banking examiner was here today to take charge ... directors closed the bank declaring their solvency
Source: newspapers

Newspaper Articles (2)

1. February 11, 1932 The Hancock Democrat Greenfield, IN

Article from The Hancock Democrat, February 11, 1932

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Article Text

First National Bank of Shelbyville Closes Its Doors Declaring the business and depositors be paid in through the process directors the First tional Bank of this morndecided the institution's the hands the national banking the protecdepositors interests. tematic heavy period and possibility collecting notes from solvent the for action the directors closed the bank examiner was here today take charge and by the financial the and obligations would immediately. decision and claring their solvency, members board directors morning appealed the public the community attitude ward other financial institutions the county. pointed that institutions all solvent and in position continue depositors and debtors the extent doing in usual manner.

2. January 2, 1935 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, January 2, 1935

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Article Text

Bank to Pay $150,000 By United Press SHELBYVILLE, Jan. 2.-An encouraging outlook for 1935 is presented for Shelby County residents. Morton Lamb, receiver for the First National Bank of Shelbyville, which closed Feb. 3, 1932, announced that a 35 per cent dividend will be paid in a few weeks. Approximately $150,000 will be disbursed. The bank already has paid two dividends, totaling 45 per cent.