First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6727
Charter Number: 6727
Start Date: April 11, 1934
Location: Hart, Michigan (43.698, -86.364)

Metadata

Model: gpt-5-mini
Short Digest: b8e6158a

Response Measures

None

Receivership Details

Depositor recovery rate: 97.5%
Date receivership started: 1933-09-14
Date receivership terminated: 1938-03-30
Share of assets assessed as good: 18.8%
Share of assets assessed as doubtful: 75.9%
Share of assets assessed as worthless: 5.3%

Description

Article (Apr 11, 1934) describes the First National Bank of Hart as 'defunct' with a receiver (Rex R. Royal) reporting on claims and plans to declare a dividend to depositors. No bank run is mentioned; the bank is in receivership and appears permanently closed. Date of initial suspension/closing not specified in the text.

Events (4)

1. April 18, 1903 Chartered

Source: historical_nic

2. September 14, 1933 Receivership

Source: historical_nic

3. April 11, 1934 Receivership

Newspaper Excerpt: Hart April 11-More than 85 per cent all individual claims against the defunct First National bank of Hart have been filed to date. according to Rex R. Royal receiver
Source: newspapers

4. * Suspension

Cause: Government Action
Cause Details: Bank is defunct and placed in receivership; closure appears to be by receiver/government action.
Newspaper Excerpt: defunct First National bank of Hart have been filed to date. according to Rex R. Royal receiver
Source: newspapers

Newspaper Articles (1)

1. April 11, 1934 The Grand Rapids Press Grand Rapids, MI

Article from The Grand Rapids Press, April 11, 1934

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Article Text

Hart Bank Receiver Shows Good Report Hart April 11-More than 85 per cent all individual claims against the defunct First National bank of Hart have been filed to date. according to Rex R. Royal receiver The full secured claim of Oceana county. amounting to more than and the loan from RFC reduced by more than the same time funds have been accumulated with the comptroller of currency of more than has paid by stockholders on the 100 per assessment levied on the capital stock of $75 000 profit and above all receivership costs since Sept 15 $4,329.79 has been alized. Plans are being made to de clare dividend to depositors at an early