First National Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12288
Charter Number: 12288
Start Date: September 28, 1930
Location: Pontiac, Michigan (42.639, -83.291)

Metadata

Model: gpt-5-mini
Short Digest: b66522b06d107fc9

Response Measures

None

Receivership Details

Depositor recovery rate: 6.7%
Date receivership started: 1932-08-12
Date receivership terminated: 1937-12-31
Share of assets assessed as good: 483.1%
Share of assets assessed as doubtful: 100.0%
Share of assets assessed as worthless: 86.8%

Description

Article (Ludington Daily News, 1930-09-28) requests that the First National Bank Trust Co. of Pontiac be appointed receiver and authorized to continue operations. The excerpt does not describe a run or explicit suspension prior to receivership, but a receiver being sought implies the bank was being closed/placed in receivership. No other events (runs or reopenings) are mentioned in the text provided.

Events (3)

1. January 2, 1923 Chartered

Source: historical_nic

2. September 28, 1930 Receivership

Newspaper Excerpt: For this reason they asked that the First National Bank Trust Co. of Pontiac be appointed receiver and be authorized to continue the operations of the bank.
Source: newspapers

3. August 12, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. September 28, 1930 The Ludington Daily News Ludington, MI

Article from The Ludington Daily News, September 28, 1930

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Article Text

MICHIGAN Total of Unemployed in Detroit Is 46,314 Sept. total of unemployed rose to 46,314 today Mayor Frank Murphy's relief committee announced the results of two days of registration. Today is the last day in which the unemployed will be registered. Friday's registration totaled 26,902, which was excess of Thursday's figure. The total number of registrants asking immediate relief thus far is Volunteer workers already have started out leave $2 food orders at the homes of the urgent cases. Mayor Murphy today has inEdsel Ford, Walter Chrysler and other Detroit industrial leaders to confer with him at the city hall Tuesday discuss means relieving the Unemployment situation hoping that the city's dustrialists will follow the lead of the municipal government in anticipating the work and doing everything possible to provide jobs," the mayor said. the bank. For this reason they asked that the First National Bank Trust Co. of Pontiac be appointed receiver and be authorized to continue the operations of the bank.