7199. First National Bank (Covington, KY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
718
Charter Number
718
Start Date
March 6, 1933
Location
Covington, Kentucky (39.084, -84.509)

Metadata

Model
gpt-5-mini
Short Digest
83fb0ec2

Response Measures

None

Description

Articles indicate the First National Bank (also referenced as First National Bank & Trust) in Covington reopened Sept 5, 1933 after being under restrictions earlier in 1933 related to the nationwide banking emergency and clearing-house scrip arrangements. No explicit depositor run is reported; reopening is celebrated and withdrawals were far less than had been expected for the day after the restriction was removed. I infer the suspension was part of the March 1933 banking emergency / clearing house restrictions (government action).

Events (3)

1. January 16, 1865 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Bank was under restrictions as part of clearing-house scrip plan and withdrawal limits during the March 1933 banking emergency and federal actions to stabilize banks.
Newspaper Excerpt
First National Bank joined other scrip plan Under plan the would issued against per cent withdrawal limit by the association.
Source
newspapers
3. September 5, 1933 Reopening
Newspaper Excerpt
BANK'S REOPENING BOON TO RECOVERY... Exultant over the reopening of the First National Bank & Trust ... Holiday Air Pervades Bank on Opening Day... the presence of large crowd in the lobby of the First National Bank, after opened with previous removed Tuesday, did the bank. Most there congratulate bank officials on the ... withdrawals PRESIDENT SAYS were far less than had been expected for day after the restriction Officers Named ... Oked by Government confidence and optimism bank's future follow the the federal Department had placed its of apThe entire directorate well bank's official passed officials Washington before for the removal on the bank was Mr. Vosmer.
Source
newspapers

Newspaper Articles (3)

Article from The Cincinnati Enquirer, March 6, 1933

Click image to open full size in new tab

Article Text

give assurance to every one. effort resume bankpossible under the decree, trust that normal banking business be carried short the benefit all Our banks Cincinnati fine and cooperation of our am that the whole can be satisfacEdwards, President of the "In opinion, President's enable the and the nation large catch its breath prepare plan meet the situation on business. have great faith the integrity Mr. Roosevelt. The people should full cooperation ment's action. The situation Cincinnati due the pressure exerted by other We reason feel assured that the banks in shape, and with the nation functioning national plan, the crisis will look for early banking normal basis. The necessary thing for every to is keep his feet on the ground." Mayor Russell Wilson: "President has sumed powers. He become the Commander Chief of the banks the United States. Under the plan of the Administration, understand there will sufficient currency issued the form of Clearing House enable business ceed. Thus currency will effect circulation deposits liquified. The emergency ask the citizens of Cincinnati hope and cooperate the President Dykstra, City "The city will usual with the in any tion." First National Bank joined other scrip plan Under plan the would issued against per cent withdrawal limit by the association. The other clearing house banks are the Second National, the Atlas National, Lincoln the Central Trust, the Fifth Third Trust, the Savings Bank and Trust and the Western Bank Trust Company. Bankers Ludlow and Latonia, Ky., meeting yesterproceed the plan adopted by the Cincinnati Clearing House Banks represented were the Central Bank Trust Company Covington Trust Banking Company, First National Bank and Trust Peoples Liberty Bank and Trust Company and Savings Bank, all Covington, the First National Bank and First Na tional Bank The adopted by the CincinHouse and placed effect, subject approval by the Secretary Treasury, comprises issuance of clearing house certificates, effect cashier's checks, the banks, $1, $5 and $10. These certificates, various colors for the denominations, been among the member banks, for which the banks collateral the House. are fully negoat stores, and effect currency going to banks, make of according the restriction, and scrip, to all ordinary the same cash. Backing business houses, manufacturing interests and stores the obtained the Clearing House, and with the expected Government predicted the banks here be scrip certificates placed circulation.


Article from The Kentucky Post, September 5, 1933

Click image to open full size in new tab

Article Text

BANK'S REOPENING BOON TO RECOVERY NRA OFFICIAL SAYS Large Number of Automobiles on Roads Labor Day Is Index to Better Times; Consumer Canvass To Be Continued PUBLIC ASKED TO DISPLAY STICKERS Exultant over the reopening of the First National Bank & Trust the reports of improved business and employment and the large number of consumers' pledges signed during last week's blue eagle officials of the Kenton-co division of the NRA more confident Tuesday than they had ever been since the beginning of the President's re-employment program that better economic times were close at hand for the country. One cheering and indisputable sign of improvement was the vast number of automobiles on all the main highways of of Kentucky over Motorists said traffic was heaviest in several week 100 cent of blue per support number of the on all eagle and workers. She highways Kentucky checking cards turned holiday Motorists women traffic was the heaviest ington under Mrs. Kimmerle, years. NRA officials outside the city, under tributed the Mrs. Dora Crutcher, colonel. increased resulting from the blue eagle To Continue Canvass drive. Pay Boost Felt dollar three extra the pay family go touring done since the beginning the Gen. John said. those who thru the glad money many dreary months. The added hours leisure President's naturally permitted advantage Labor Day who ordinarily could not. Miss Alma lieutenant general, said Tuesday hoped definitely Wednesday many ing districts signed pledges last tho expressing satisfaction number pledges, L'Hommedieu stop her to continue the canvass. Elsie Doyle, NRA secretary, announced that anyone by the house-to-house and NRA insignia this the NRA office at the Covington Chamber Commerce, the John Coppin Co., Luhn and drug stores in Latonia Many have received NRA stickers displaying them, and Miss urges the insignia are not displayed, she not know the territory canvassed.


Article from The Kentucky Post, September 5, 1933

Click image to open full size in new tab

Article Text

Holiday Air Pervades Bank on Opening Day The presence of large crowd in the lobby of the First National Bank, after opened with previous removed Tuesday, did the bank. Most there congratulate bank officials on the the which since decked give several out money from their deposits which had been the taxes and bills and to make atmosphere of celebration FAIR SUCCESS, alarm tomers what fellow depositors official the bank said withdrawals PRESIDENT SAYS were far less than had been expectfor day after the restriction Officers Named Wide Variety of Prizes Won The strength the organization officers and at Annual Exhibition: made by the trustees Those headnew organization Attendance Charles chairman of the Up Board Directors: Edward Voscashier Viewed from the standpoint Dunkie and John Budke, assistant return addition Mr. Chase, the the Alexandria Fair was marked of Directors composed success, the announce- Arthur Bettman W Bled. Ben Park ment of Ralph Rachford, president John Kratt, Orie the fair board. The fair closed Ware and session Monday night officers old organizaFred tion joined with the new members ribbons his expresseight shows the $250 the thanks and appreswsspstakes the joint to Dixie named Adams, retiring winner his efforts behalf untiring in Kentucky the Oked by Government confidence and optimism bank's future followthe the federal Department had placed its of apThe entire directorate well bank's official passed officials Washington before for the removal on the bank was Mr. Vosmer. heads the has to the with Fifth Third Union Trust Co. Cincinnati brought him into contact bank tion. of the Fifth with old Union Trust, and the the Third Bank His activities banking the times the old Hall Bank 36 years GARAGE LOOTED Theft valued $15. in 817 Over ton-st. Tuespolice H. Faulkner, Overton-st. Newport. Entrance gained breaking padlock from door. BOYS' SHIRTS ARE STOLEN thief shattered show window the the Eilerman Clothing Co., 818 Monday and shirts valued at $8.