7241. Henderson National Bank (Henderson, KY)

View Charter #1615 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1615
Charter Number
1615
Start Date
January 14, 1932
Location
Henderson, Kentucky (37.836, -87.590)

Metadata

Model
gpt-5-mini
Short Digest
608f1fb1

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1932-06-11
Date receivership terminated
1939-07-20
Share of assets assessed as good
48.8%
Share of assets assessed as doubtful
46.0%
Share of assets assessed as worthless
5.2%

Description

The Henderson National Bank closed (suspended) on Jan 14, 1932 and was placed in receivership and liquidated. Articles describe receiver actions (appointments, asset statements, suits, dividend payments) and a new institution (First National Bank of Henderson / First National Bank & Trust Company) organized later to take over affairs, but the original Henderson National Bank remained closed and was being liquidated. No article explicitly describes a depositor run as the proximate event; therefore classified as suspension_closure with cause bank-specific adverse information (insolvency/liquidation).

Events (11)
1. December 9, 1865 Chartered
Source
historical_nic
2. January 14, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended/closed on January 14, 1932; subsequent receiver reports show assets and liabilities and liquidation proceedings, indicating insolvency rather than a run described in the articles.
Newspaper Excerpt
which closed last Jan. 14
Source
newspapers
3. June 11, 1932 Receivership
Source
historical_nic
4. June 14, 1932 Receivership
Newspaper Excerpt
W. M. Morgan Takes Over Affairs of Closed Institution Here. ... has been named receiver of the Henderson National bank which closed last Jan. 14, was announced yesterday. He succeeds Pope Walker ... in charge since the institution closed.
Source
newspapers
5. November 29, 1932 Other
Newspaper Excerpt
Organization of the First National Bank & Trust company to over the affairs of the closed Henderson National bank awaited ... subscriptions to shares.
Source
newspapers
6. January 14, 1933 Other
Newspaper Excerpt
Morgan's Statement Shows $218,932.96 In Cash On Hand. The Henderson National bank has on hand $218,932.96 according to statement by Wm. M. Morgan receiver.
Source
newspapers
7. February 9, 1933 Other
Newspaper Excerpt
Four suits were filed ... by William M. Morgan, receiver of the Henderson National bank ... to recover amounts and to recover an amount which it is claimed an employe of the institution withdrew from his accounts the day the bank closed.
Source
newspapers
8. September 20, 1933 Other
Newspaper Excerpt
payment of a 50 per cent dividend to creditors ... 'The First National Bank of Henderson opened for business September 1933' ... 'Some 300 of the depositors in the old bank ... bought the stock and organized the new bank'.
Source
newspapers
9. January 23, 1934 Other
Newspaper Excerpt
Statement Lists Collections of Bank's Receiver ... Total assets accounted for are given as $1,861,147.43 ... Disbursements include dividend payment of $435,503.9 to depositors.
Source
newspapers
10. June 27, 1934 Receivership
Newspaper Excerpt
Marvin D. Eblen ... was appointed receiver of the Henderson National bank, succeeding William M. Morgan, who has resigned.
Source
newspapers
11. August 8, 1934 Other
Newspaper Excerpt
Depositors of closed Henderson National bank to receive $90,000 in new 10 per cent dividend, bringing 60 per cent the amount they have been paid since closing.
Source
newspapers

Newspaper Articles (13)
1. June 14, 1932 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, June 14, 1932

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Article Text

NATIONAL BANK RECEIVER NAMED W. M. Morgan Takes Over Affairs of Closed Institution Here. William Martin Morgan, former Uniontown, Ky., man, has been named receiver of the Henderson National bank which closed last Jan. 14, was announced yesterday He succeeds Pope Walker, of St. Louis, deputy national bank examiner, in charge since the institution closed. This appoint of Mr. Morgan will not affect plans for reorganizing the bank, it was said today, as it was necessary for a receiver to be named to make a formal transfer when the reorganization is perfect After leaving Union county some years ago to live in the state's metropolis Mr. Morgan has had a long experience as national bank examiner and other phases of banking Recently he has been engaged as receiver of a bank in Indiana.

2. November 29, 1932 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, November 29, 1932

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Article Text

BANK EXAMINER DUE HERE TODAY 17 Shares Remain to Be Sold Before New Institution Is Assured. Organization of the First Nation al Bank & Trust company to over the affairs of the closed derson National bank awaited night only subscriptions to shares. it was announced following meeting of stockholders at the Twenty shares were lack. ing yesterday. but after the tion had been explained to some 100 shareholders present the meeting by leaders of movement 11 individual tions were obtained for one each, leaving 17 to be sold A bank examiner from the oral reserve office at St. Louis expected to arrive in the city day to prepare the agreement and check the assets the old bank and is hoped procure the remaining tions before be starts his work looks like some of those have subscribed must take cal attorney who has been in the reorgamization effort, "Either that or some of the men who will benefit opening of the new bank have not taken have to help On this last depends the success of the taking

3. November 30, 1932 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, November 30, 1932

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Article Text

Reorganization of Bank Is Nearing Completion Henderson, Ky., Nov. ganization of the First National Bank & Trust company to take over the affairs of the closed Henderson National awaited last night only subscriptions to 17 shares, announced following meeting of stockholders at the home shares were lacking yesterday, but after the situation had been explained to the some 100 present the meeting by leaders of the movement, 11 individual subscripticns were obtained for one share each, 17 to be sold. bank from the federal office at St. Louis is expected to arrive in the city this week to prepare the organization agreement and check assets of the old bank, and hoped to procure the remaining subscriptions before he starts his work.

4. January 14, 1933 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, January 14, 1933

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Article Text

REPORT MADE BY BANK RECEIVER Morgan's Statement Shows $218,932.96 In Cash On Hand. The Henderson National bank has on hand $218,932.96 according to statement by Wm. M. Morgan receiver. The statement, as of December 31st., 1932 shows total assets of The assets at date of suspension $1,533,501.56: additional as acquired since suspension, Liabilities in the statement listed as follows: secured liabilities at date of suspension, $289,287.27: insecured liabilities, $980,293.52; additional liabilities total liabilities $1,275,375.54 Under collection and disburse ment the statement shows total collections to be accounted for,

5. February 9, 1933 Messenger-Inquirer Owensboro, KY
Article from Messenger-Inquirer, February 9, 1933

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Article Text

HENDERSON BANK SUES4 Seeks To Recover $2,432 Claimed Employe Withdrew Day It Closed. Four suits were filed in United States district court in Owensboro Wednesday afternoon by William M. Morgan, receiver of the Henderson National bank, of Henderson, against residents of Henderson. In three of the suits, the receiver seeks to recover amounts claimed due on notes, and in the fourth, to recover an amount which it is claimed an employe of the institution withdrew from his accounts the day the bank closed. A. D. Kirk, Owensboro, attorney for the receiver, prepared the In the suit against Adolphus McCall, who the petition asserts was an employe of the bank, recovery of $2,432 01 which it is alleged McCall withdrew from his four accounts on January 14, 1932, is asked. The suit charges that knowing "that immediate suspension of the bank was contemplated by its officers' the institution allowed McCall to withdraw the amount "with the intent and purpose to give preference to McCall, while "well knowing all depositors could not be paid in full." A. Priest, as principal, and J S. Priest and John W. Finn. as sureties, were sued for $2,650 claimed due on note dated October 28, 1931. A. Q. Evans made defendant in suit for $4,634.60 claime to be due on note. Ed. K. Held and Georgia Held were sued for $470.42, claimed to be due on a note. and Mrs G. C. Hendricks, have returned home. Hobert Heninger, Fleming. was a guest Mon of Mr. and Mrs. S. M. Heninger. Dr. George Gregory, Pendleton. Ind., has returned. after a visit to his parents, Mr. and Mrs. Thomas Gregory Miss Agnes Payne and Miss Virginia Pile have returned from visit Mr. and Mrs. Taylor Payne, Louisville Mrs. Minnie Norton and daughter, Miss Blanche Norton, Irvington, were guests Monday of her sister, Mrs. Austin Armes, and Mr. Armes and brother. Robert Hook, who is of pluerisy Mrs Voget and Miss Regina Mattingly were in Louisville Mrs. Sidney Owen was a guest Thursday of Mrs. Mattie Teaff and Mrs. Ellen Mrs. Delia Brite, who has been guest of her brother. Dr. V. B Hunter, and Mrs Hunter, Louisville, has returned home. J. R. Mattingly Kirk, was a guest of his daughters. SS Re- gina Mattingly and Miss Elenora Mattingly, Monday. G. P. Squires, McQuady, spent Saturday here. Jesse M. Howard, Sr., Glen Dean, was guest Monday of his son, J. M. Howard, Jr.

6. February 9, 1933 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, February 9, 1933

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Article Text

HENDERSON BANK Seeks To Recover $2,432 Claimed Employe Withdrew Day It Closed. Four suits were filed in United States district court in Owensboro Wednesday afternoon by William M. Morgan, receiver of the Henderson bank, of Henderson, against Henderson. In three of the suits, the receiver seeks to recover amounts claimed due on notes, and in the fourth, to recover an amount which it is claimed an employe of the institution withdrew from his the day the bank closed. A. D. Kirk, Owensboro, attorney for the receiver, prepared the petitions. In the suit against Adolphus McCall, who the petition asserts was an employe of the bank, recovery of $2,432.01 which it is alleged McCall withdrew from his four accounts on January 14, 1932, is asked. The suit charges that knowing "that immediate suspension of the bank was contemplated by its officers" the institution allowed McCall to withdraw the amount "with the intent and purpose to give preference to McCall," while "well knowing all depositors could not be paid in full." Priest, principal, and S. Priest and John W. Finn, as sureties, were sued for $2,650 claimed due on note dated October 28, 1931. Q. Evans was made defendant in suit for $4,634.60 claime be due on note. Ed. K. Held and Georgia Held were sued for claimed to be due on a note.

7. February 9, 1933 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, February 9, 1933

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Article Text

BANK RECEIVER SUES EMPLOYE Ky M Morgan for the Henderson National bank filed United today McCall for recovery of The petition alleges that McCall of the and to withdraw that sum from the bank on January when the officers knew suspension the was They the for the of of preference to purpose giving Call

8. September 20, 1933 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, September 20, 1933

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Article Text

DIVIDEND TO CREDITORS OF OLD BANK Receiver Morgan Notifies Depositors of Henderson National William M. Morgan, receiver of the Henderson National bank, an nounces the payment of a 50 per cent dividend to creditors handed to those who have proven their claims, Mr Morgan said. In roder to botain these checks, the receiver pointed out, the cred an itors must present their receivers' certificates at Mr. Morgan's office in the First National Bank of Hen In an announcement which has gone out to the depositors of The Henderson National Bank, C. A Katterjohn, cashier, said: will receive notice from Mr. Morgan, the receiver, to the effect that a fifty per cent dividend has been declared and requesting you to send in your receiver's certificate for the endorsement of the dividend (fifty per cent) and that the receiver's certificate and check will be mailed back to you. His statement also says: "The First National Bank of Henderson opened for business September 1933 with a capital of $100,000. sur plus of $20,000 liquid, strong and clean: no frozen assets, no re-discounts and under supervision of the United States government. Some 300 of the depositors in the old bank, together with other interest ed citizens, bought the stock and organized the new bank that it might be strong and safe, and thereby made it possible for the receiver's dividend to be paid."

9. September 24, 1933 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, September 24, 1933

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Article Text

BREVITIES W. C. Green, of Spottsville, sustained a head injury last night when his automobile hit the parked car of William Martin Morgan, Henderson National bank receiver, at the Mrs. Thomas Baskett residence on South Green street where Mr. Morgan rooms. Four false fire alarms last night before 11:30 kept the city firemen on the run. Louis Haag has returned to his home in Madison, Wis., after at tending the Funk-Sites wedding. A clinic for pre-school children will be held Wednesday afternoon from 2 to 5 o'clock in the offices of the Henderson county health department it was announced last mght by Dr. R. K. Galloway, the Robert Powell, of Corydon, and Thomas Culvest of the city, were admitted to the Henderson hospital yesterday. Miss Alene Jones, city, underwent an operation at the Henderson hospital Saturday. Sam Richardson, of Houston, Tex., was dismissed from the Hen derson hospital Saturday, and Mrs. Harry Woods, of Morganfield, was dismissed Friday. Congratulations to Miss Cathe ine Moss, the successful World's Fair contestant. Thanks to my friends who helped me in this contest. Grace Fisher Raymond Culver, who was injur ed while playing football several days ago, was dismissed from the hospital late Friday. A trash fire in the alley behind the Gleaner and Journal building about 1 o'clock yesterday necessitated the calling of the fire department. The fire was extinguished before any loss was incurred. W. G. (Uncle Billy) Lester, of the county, was here Saturday en route home after spending the week with his grandson, William S. Les ter, employe of the Citizens Nation al bank in Evansville, and Mrs. Lester. The young Mrs. Lester is a daughter of Mr. and Mrs. G. P. Jeter, at Niagara. Mrs. George Klauder will be hos tess to the Staples Homemakers' club Tuesday afternoon at 1:30. Lesson in millinary and cooking will be discussed by Mrs. Klauder and Mrs. Fred Madden. No collection and no solicitation of funds at anniversary meeting of "Y" at First Baptist church tonight at 7:30. Good music and a good program. Dr. Helsley, chiropractor. O. V. Bank Bldg. Phone 80. Mrs. Allen Bennett, Mr. and Mrs. Gip Bennett and Miss Virginia Ben nett returned Saturday from Nash ville, Tenn., where they visited relatives. A Cadillac automobile belonging to Otis A. Benton was stolen about 2 a. m. Saturday from in front of the Benton funeral home, and was recovered later on South Green street. Now is the time to have your mattresses reworked like new. In cluding new cover, standard size $5.50. Furniture Shop, 736 First St. Phone 694-W. "Mrs Aubrey Farley, Third street, is recuperating in St. Mary's hospit al, where she recently underwent an operation for appendicitis Mrs. Blanch Whitledge, former resident of Henderson county, who was injured when a passenger train crashed through bridge at Tucum can, New Mexico, several weeks ago, is still confined to a hospital We are pleased to announce we are operating our Ice Plant, Cold Storage and Feed Mill under provisions of the N.R.A. We expect the Coal Code any time. Then we will be proud to be 100 per cent N.R.A. J. L. Nicholson and Sons, Phone 304-305. Herbert Gibbs and Dollie Eva Wright, of Henderson, obtainel marriage license here Saturday and were married by Esq. Louis Kleid A baseball game will be played at 10 o'clock this morning on the diamond at Sixth and Ingram streets by the Henderson North End team and the Harper All Stars

10. January 23, 1934 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, January 23, 1934

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Article Text

Militarist Chieftain Quits Japanese Post Statement Lists Collections of Bank's Receiver A statement of the condition of the defunet Henderson National bank, prepared by the receiver, lections from assets and stock as sessments of The book value of the bank's assets at its date of suspension is listed as $1, Total assets accounted for are given as $1,861,147 43. and total lia bilities accounted for are listed as $1,277,266.29 Collections to be accounted for total $848,377.5 Disbursements include dividend payment of $435,503.9 to deposit tors The cash in the hand of the re ceiver and comptroller is $113,944 10 The cost of liquidation thus far is 3.3 per cent

11. June 27, 1934 The State Journal Frankfort, KY
Article from The State Journal, June 27, 1934

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NAME BANK RECEIVER HENDERSON, Ky. June 26 (By D. Eblen today was appointed received of the Henderson National Bank, succeeding W M. Morgan, who has resigned to resume nis former work as a national bank examiner. Eblen is a former mayor of Henderson.

12. June 27, 1934 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, June 27, 1934

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EBLEN IS NAMED BANK RECEIVER To Succeed W. M. Morgan, Resigned. In Liquidating National Bank. Marvin D. Eblen. local attorney and former mayor of Henderson, yesterday received appoinment from the controller of currency Washington, as receiver of the Henderson National bank, succeed ing William M. Morgan, who has resigned to resume his former work as a national bank examiner Mr. Ebleg's appointment came Tuesday in a telegram from Wash ington, a short time after It became known that Mr. Morgan had tender ed his resignation to become of fective July Mr. Morgan came to Henderson two years ago to begin the work of receiver of the local bank Since assuming direction of the receiver ship and control of the plan for working out the bank's assets for the benefit of the community Mr Morgan has paid out 50 per cent of the deposits at the time the bank closed, and now is completing plans

13. August 8, 1934 The Evansville Journal Evansville, IN
Article from The Evansville Journal, August 8, 1934

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CONTRACT BRIDGE By E. V. SHEPARD WRITTEN FOR CENTRAL PRESS Famous Bridge Teacher The Navy Plays Good Bridge never have seen the time when the navy did not have its quota able bridge players. During the recent the fleet to New York the officers good accounts of club for 7-No by sat South duplicate Who could handled the situation better? Bidding South, North, East, 2-Spades; South, calling for feashowing: 5-Clubs, ing his South, 5-Diamonds; No Trumps, seemed rather ambitious. West, doubled. ending bidding. The opening lead was the Q of won. On the one his lowest club West had discards. He let his lowest leaving him the J-10 West let go his est heart. Dummy's Ace of hearts was led. does not matter what East did He never had chance to The declarer led dummy's lowest spade eighth trick. West showed For the out, by discarding heart. trick led off spade and West was in the holdings Declarer, Dumy and West. West must one of his five (cards to the ninth lead. Dummy will follow suit to the lead of Declarer's Ace will you spades. West let go? West has East play the hearts, under dummy's On the opening club lead East followed suit Beyond that East has discarded steady stream of spades. If West lets one of his hearts, the hearts held by South will tricks, and dummy's of clubs will the thirteenth trick. win West lets go one of his declarer will win heart tricks dummy will win tricks. West hopelessly squeezed. Nothing can prevent South from ful. filling his grand slam contract. matter fact, West held both his let go heart, giving the heart and dummy the last trick with the Ace of clubs. HENDERSON, Ky. Depositors of closed Henderson National bank to receive $90,000 in new 10 per cent dividend, bringing 60 per cent the amount they have been paid since closing.