First National Bank - Cherokee, KS

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 5447
Charter Number: 5447
Start Date: January 28, 1932
Location: Cherokee, Kansas (37.346, -94.809)

Metadata

Model: gpt-5-mini
Short Digest: 7f34e358

Response Measures

Full suspension

Other: Bank closed by state bank officials to protect depositors after run.

Receivership Details

Depositor recovery rate: 94.2%
Date receivership started: 1932-02-17
Date receivership terminated: 1936-08-15
Share of assets assessed as good: 30.4%
Share of assets assessed as doubtful: 66.0%
Share of assets assessed as worthless: 3.6%

Description

Newspaper (Birmingham News) dated 1932-01-29 reports the First National (Hartwell) failed to open Friday after a run and was closed at direction of state bank officials to protect deposits. No article text here indicates reopening or receivership, so outcome is unclear.

Events (4)

1. June 23, 1900 Chartered

Source: historical_nic

2. January 28, 1932 Run

Cause Details: Heavy withdrawals/run by depositors on the bank (no specific trigger or rumor described).
Measures: Bank closed at direction of state bank officials to protect deposits
Newspaper Excerpt: The First National Hartwell, this city's only bank failed to open for Friday morning ... Officials announced the taken to protect after run
Source: newspapers

3. January 29, 1932 Suspension

Cause: Government Action
Cause Details: Closed by state bank officials/board of directors to protect deposits following the run.
Newspaper Excerpt: The First National was closed Friday by the board of directors ... had been closed Friday at the direction the state bank Officials announced the taken to protect after run
Source: newspapers

4. February 17, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. January 29, 1932 The Birmingham News Birmingham, AL

Article from The Birmingham News, January 29, 1932

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Article Text

THREE BANKS CLOSED Hartwell, Thomasville, Ga., And FIRST NATIONAL BLDG. PM. 3-9901 Cherokee, Kan., Houses Shut Ga. (INS) Th First National Hartwell, this city's only bank failed to open for Friday morning BANKERS FIRE Ga. (INS) The of & MARINE STOCK South Georgia's oldest banks, had been closed Friday at the direction the state bank Officials announced the taken to protect after run deThe bank was capitalized at BOUGHT AND SOLD CHEROKEE. Kan. (AP) The First National was closed Friday by the board of direcThe institution deposits Thursday of approximately $150,000 and was capitalized at $25,000. LAHAN, DAVIDSON ARE ARRESTED of 12 & CO. persons Thursday followed raids by federal prohibition officers Wednesday The arrests followed several 353-55 Brown-Marx Bldg. weeks and included of the largest wholesale 11- Phone 3-6233 quor dealers in Southern Alabama, Victor Buthod. deputy prohibition