First National Bank (Corning, AR)

View Charter #7311 on SPMC View balance sheet

Episode Information

Episode UID
731101294
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
73110 national
Charter Number
7311
Start Date
October 28, 1907
Location
Corning, Arkansas (36.408, -90.580)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f70b970b7682db65

Response Measures

None

Receivership Details

Depositor recovery rate
28.2%
Date receivership started
1931-01-12
OCC cause of failure
Losses
Share of assets assessed as good
2.3%
Share of assets assessed as doubtful
18.8%
Share of assets assessed as worthless
78.9%

Description

Articles do not explicitly name 'First National Bank' but refer to a 'national bank at Corning' in receivership in 1932; 1907 article describes a multi-state bank closing that applied to Arkansas banks.

Events (5)
1. June 21, 1904 Chartered
Source
historical_nic
2. October 28, 1907 Suspension
Cause
Correspondent
Cause Details
Banks at Kansas City and St. Louis refused to forward cash to banks of the southwest, prompting coordinated week-long closures.
Newspaper Excerpt
Acting Governor Filson today issued a proclamation closing the banks of the territory for one week...all have taken similar action. The closing is for the purpose of protecting the banks in case of a run.
Source
newspapers
3. July 30, 1930 Voluntary Liquidation
Source
historical_nic
4. January 12, 1931 Receivership
Source
historical_nic
5. December 5, 1932 Receivership
Newspaper Excerpt
The case of Murdock Almandinger vs. Armstrong, bank receiver...Almandinger Armstrong, receiver of national bank at Corning went to trial this afternoon
Source
newspapers

Newspaper Articles (2)
1. October 28, 1907 The Laramie Republican Laramie, WY
Article from The Laramie Republican, October 28, 1907

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Article Text

Oklahoma Banks Close for Week. Oklahoma City, Okla., Oct. 28.-Acting Governor Filson today issued a proclamation closing the banks of the territory for one week, on demand of the bankers. This action was taken because the banks at Kansas City and St. Louis refused to forward cash to the banks of the southwest. Concerted Action Taken. It is said that a consultation of the bankers of Oklahoma, Indian territory, Arkansas and northern Texas by means of the telephone took place during the early hours today, and all have taken similar action. The closing is for the purpose of protecting the banks in case of a run.

2. December 5, 1932 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, December 5, 1932

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Article Text

War Risk Cases On Docket Today Tellier Special Attorney Ill With dismissed the Judge Martineau Frederick takcase of ing out of the hands of the jury The case Murdock Home Life Insurance company was continued for the term. The case of Almandinger Armstrong, receiver of national bank at Corning went to trial this afternoon The testimony will most the afternoon. quire Attorney Tellier, Little Special represents the governRock, who ment in all war risk cases, influenza his home and with Attorney Brewer Little Rock, substitute The following cases were set for today following the Pritchett case Sherman Hendricks vs. United States government, war risk ance case. Charles Byars vs. United States overnment, Home Fire InsurMurdock Almandinger vs. Armstrong, bank receiver Several war risk cases are the calendar for hearing Tuesday, Wednesday and Thursday with possible hang over until Friday afternoon. The docket must be completed this week however, as court convenes at Batesville Monday next