First National Bank (Etowah, TN)

Episode Information

Episode UID
916201590
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
91620 national
Charter Number
9162
Start Date
June 1, 1932*
Location
Etowah, Tennessee (35.323, -84.525)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a428eefd06af89c4

Response Measures

None

Receivership Details

Depositor recovery rate
35.0%
Date receivership started
1932-06-21
Date receivership terminated
1938-10-20
Share of assets assessed as good
45.2%
Share of assets assessed as doubtful
45.7%
Share of assets assessed as worthless
9.1%

Events (4)

1. June 5, 1908 Chartered
Source
historical_nic
2. June 1, 1932* Suspension
Cause
Government Action
Cause Details
Bank closed and subsequently placed in receivership by the U.S. Treasury/ federal authorities.
Newspaper Excerpt
First National bank, Etowah, which closed last week.
Source
newspapers
3. June 21, 1932 Receivership
Source
historical_nic
4. June 23, 1932 Receivership
Newspaper Excerpt
F. E. POWELL APPOINTED ETOWAH BANK RECEIVER Frank E. Powell has been appointed by the United States treasury department as receiver for the First National bank, Etowah, which closed last week.
Source
newspapers

Newspaper Articles (5)

Article Text

F. E. POWELL APPOINTED ETOWAH BANK RECEIVER Frank E. Powell has been appointed by the United States treasury department as receiver for the First National bank, Etowah, which closed last week. Mr. Powell left for Etowah yesterday. Mr. Powell was formerly in the service of the government in the attorney-general's department.


Article Text

Powell Is Bank Receiver Special To The News-Sentinel ETOWAH—Frank E. Powell became receiver of First National Bank Thursday. He was formerly in the U. S. attorney-general's department.


Article Text

Powell Is Bank Receiver Special To The News-Sentinel ETOWAH—Frank E. Powell became receiver of First National Bank Thursday. He was formerly in the U. S. attorney-general's department.


Article Text

FRANK POWELL APPOINTED ETOWAH BANK RECEIVER Mr. Frank E. Powell of Chattanooga has been appointed by the United States Treasury Department as receiver for the First National Bank, Etowah, Tenn., which closed last month. Mr. Powell, who has visited here on several occasions, was formerly in the service of the government in the attorney general's department. Mrs. Powell will be remembered here as Miss Lena Trimble.


Article Text

Etowah Bank Has More Cash Than Deposit Liability Cantrell Banking company State bank here, probably the most liquid bank in the United States, according to issued Wednesday by following of State Banking Superintendent Robertson to Gov. McAlister's six-day bank hollday. The statement showed that the actual amount of cash its vault at the close Tuesday's was per cent greater than its total deposit liability This bank was organized by the W. Cantrell estate relieve the financial stress brought on by the closing of the First National last June. Its entire board directors is confined to members of that family.