770. First National Bank (Chowchilla, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10978
Charter Number
10978
Start Date
June 1, 1927*
Location
Chowchilla, California (37.123, -120.260)

Metadata

Model
gpt-5-mini
Short Digest
4478f83a

Response Measures

None

Receivership Details

Depositor recovery rate
89.5%
Date receivership started
1927-05-28
Date receivership terminated
1934-03-06
Share of assets assessed as good
16.6%
Share of assets assessed as doubtful
59.5%
Share of assets assessed as worthless
23.9%

Description

Articles state the First National Bank of Chowchilla had failed in the early summer and that Charles A. LaBree had been receiver; later mentions a new receiver appointment for related banks. No article describes a depositor run; the bank is in receivership, so classified as suspension leading to closure/receivership. Cause of suspension is not specified in these items.

Events (5)

1. April 13, 1917 Chartered
Source
historical_nic
2. May 28, 1927 Receivership
Source
historical_nic
3. June 1, 1927* Suspension
Cause Details
Article only states the bank 'failed in the early summer' without specifying cause.
Newspaper Excerpt
LaBree has been receiver since its failure In the early summer.
Source
newspapers
4. September 24, 1927 Receivership
Newspaper Excerpt
At present he is receiver of the First National Bank of Chowchilla. (AP report Sept 24, 1927 announcing La Bree as receiver.)
Source
newspapers
5. October 3, 1927 Other
Newspaper Excerpt
It is rumored that he also will be appointed [receiver] of the First National Bank of Chowchilla of which Labree has been receiver since its failure in the early summer.
Source
newspapers

Newspaper Articles (4)

Article from Modesto News-Herald, September 24, 1927

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Article Text

LA BREE CHOSEN RECEIVER AT Man Who Served in Modesto and Riverbank to Take Over Bank Affairs Charles A. La Bree. who served as receiver of the First National Bank at Riverbank after frenzied operations of C. L. Flack, prestdent and chics stockholder, had numed receiver for the Inyo County Bank, owned by W. W. and MA Q. Wallerson. This was announced to-day by an Associated Press dispatch from San Francisco. Worked Here La Bree first became connected with the receivership of banks in Modesto severa! years ago, when he served under Jessa G. Boyristun, who was then the receiver of the Cellfornia National Bank. Hs later was employed in the Stanislans County Bank, organized in Modesto after the California National Bank failure. He then became assistent receiver in the liquidation of the First National Bank at Colusa. At present he is receiver of the First National Bank of Chowchilla. La Bree will assume his new dulies Monday as the successor of C. E. Wailes, who resigned because of III health. Trial to Start Trial of the two Watterson brothers on charges of embezzling money from the Inyo bank's funds will open Monday at Hishop. Efforts of the receivership are at present centered on recovery of such money as is possible from the investments of the Watterson brothers in mining and other properties In which they were interested and which, It is alleged. was emberzied from the banks. PADDLED ALONE mo school teacher, has paridled from the eastern and of Siberia heavy sea was running when he route. Nome was notified by wireless to be on the watch, but the Eskimo reached here safely. CARD OF THANKS We wish to express our approcialion and gratitude to our kind friends for the sympathy and beauthis floral offerings tendered in our recent bereavement in the loss of


Article from Santa Barbara News-Press, September 24, 1927

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Article Text

SAN FRANCISCO, Sept 24. (AP) Wood, intendent banks, today nounced of Charles La Bree as receiver for Inyo county banks owned by and Watterson, brothers, whose trial on charges ing money from the banks will next Monday Bishop Bree assume his new duties Monday, gave poor health as the reason for his signation. La Bree assistant receiver the liquidation of the National Bank of Colusa First for the National and Bank of receiver for the First National Bank of Chowchilla


Article from The Fresno Morning Republican, October 3, 1927

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Article Text

NAME BANK RECEIVER Co., of Henry P. Hilliard to the receivership of the First National Bank of Riverbank was made last night. Hilliard sucbeeds Charles A. Labree who resigned to accept the receivership of Inyo county banks which failed recently, due alleged fraudulent operations of W. W. and M. Q. Watterson. Hilliard is now receiver of the Farmers and Merchants National bank Merced and formerly served in the same expacity at Newman It is rumored that be also will be appointed the First National Bank of Chowchilla of which Labree has been receiver since its failure In the early summer. Labree, who has been an employe of the Federal Government for seven years is now leaving to enter the employ of the banking department. Four of five Inyo county banks which failed are state banks and he will have charge of them. He left yesterday with his wife for the southern part of the state.


Article from Modesto News-Herald, October 4, 1927

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Article Text

New Receiver Chosen To Serve At Riverbank Henry P. Hilliard Appointed Successor to Charles La Brea; Acted in Similar Capacity at Newman; Now at Merced Oct. Hilliard has been appointed receiver of the First Na. tional bank of Riverbank, to succeed Charles A. LaBree, whose resignation was accepted at the same lime by the comptroller of the currency at Washington, C. From Merced Hillfard is now received of the Farmers' and Merchants' National bank at Merced and formerly was receiver at Newman. LaBree has resigned in order to take over the receivership of the Tayo county hanks, which TOcentiy closed their doors. A nafiocal bank receiver for seven years gast, he is nuw leaving the federal service to enter the employ of the state banking depart. ment. Four of the five Inyo county banks which falled are state banks and be will have charge of these. The fifth, nntional bank, will be in other hands. La Bree Leaves LaBree, with his wife, left 305 terday for the southern part of the state. Hilliard, It Is rumored, will also be appointed receiver of the First National bank of Chow chilla, from which position La Breo resigned at the time he gave up the Riverbank receivership.