First National Bank - Kingsburg, CA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8409
Charter Number: 8409
Start Date: January 1, 1929*
Location: Kingsburg, California (36.514, -119.554)

Metadata

Model: gpt-5-mini
Short Digest: 1a049170

Response Measures

None

Receivership Details

Depositor recovery rate: 52.0%
Date receivership started: 1926-11-09
Date receivership terminated: 1931-03-31
OCC cause of failure: Governance
Share of assets assessed as good: 40.8%
Share of assets assessed as doubtful: 37.8%
Share of assets assessed as worthless: 21.4%

Description

The First National Bank of Kingsburg closed its doors (circa 1929), a receiver was appointed (filed 1930-03-08), and final distributions to depositors were made in Jan 1931. There is no clear description of a depositor run causing the closure; the bank was placed in receivership and remained closed.

Events (5)

1. October 18, 1906 Chartered

Source: historical_nic

2. November 9, 1926 Receivership

Source: historical_nic

3. January 1, 1929* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed (insolvency/failure) around 1929; article refers to the institution as closed and later in receivership but gives no specific rumor trigger.
Newspaper Excerpt: which closed its doors here about two years ago.
Source: newspapers

4. March 8, 1930 Receivership

Newspaper Excerpt: An order appointing Charles for the First tional Bank of closed filed ... Newhall for First National Bank of Kingsburg.
Source: newspapers

5. January 6, 1931 Other

Newspaper Excerpt: A large number of residents ... received the final payment to them as depositors of the First National Bank, which closed its doors here about two years ago. The final payment was about seven cents on the dollar and brought total payments to 52 per cent of the deposits. ... C. K. Newhall of Dinuba, receiver for the closed institution, made the payments at the Kingsburg Bank, starting at 10 a. m.
Source: newspapers

Newspaper Articles (2)

1. March 8, 1930 The Fresno Bee Fresno, CA

Article from The Fresno Bee, March 8, 1930

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Article Text

Newhall Appointment As Bank Receiver Filed An order appointing Charles for the First tional Bank of closed filed for the United States Department in the office of the counrecorder here to-day. Newhall for First National Bank of Kingsburg.

2. January 8, 1931 The Kingsburg Recorder Kingsburg, CA

Article from The Kingsburg Recorder, January 8, 1931

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Article Text

National Bank Depositors Paid A large number of residents of Kingsburg and the surrounding community on Tuesday received the final payment to them as depositors of the First National Bank, which closed its doors here about two years ago. Payments will continue through Saturday. The final payment was about seven cents on the dollar and brought total payments to 52 per cent of the deposits. The amount thus distributed to people of this community amounted to $20,000. C. K. Newhall of Dinuba, receiver for the closed institution. made the payments at the Kingsburg Bank, starting at 10 a. m. To any one who did know what was going on, the presence of such a large number of persons in the bank at one time could have meant most anything from an accident to a "run on the bank."