9255. First National Bank (Mountain Grove, MO)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
7282
Charter Number
7282
Start Date
March 1, 1933*
Location
Mountain Grove, Missouri (37.131, -92.263)

Metadata

Model
gpt-5-mini
Short Digest
96ba61df00e42572

Response Measures

None

Receivership Details

Depositor recovery rate
24.0%
Date receivership started
1934-02-19
Date receivership terminated
1938-08-31
Share of assets assessed as good
25.9%
Share of assets assessed as doubtful
50.7%
Share of assets assessed as worthless
23.4%

Description

Newspaper articles (Jan 22, 1934) list First National Bank, Mountain Grove among national banks that failed to open after banking moratorium last March and that (as of the report) did not have approved reorganization plans. The event is a suspension related to the 1933 banking moratorium; the articles do not describe a depositor run. It is unclear whether the bank ultimately reopened, but it is listed among banks without approved reorganization plans, which suggests closure/continued suspension โ€” therefore classified as suspension_closure with some uncertainty.

Events (3)

1. May 31, 1904 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Failed to open after the banking moratorium in March (1933); suspension linked to the statewide/national banking moratorium and subsequent closure/reorganization process
Newspaper Excerpt
Two banks with deposits of $278,000 do not have approved plans of reorganization. They are the First National Bank, Mountain Grove,
Source
newspapers
3. February 19, 1934 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from Jefferson City Post-Tribune, January 22, 1934

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Article Text

DEPOSITORS U. S. Comptroller Gives Status of Missouri Finincial Institutions; Are Being Reorganized. WASHINGTON, Jan. in deposits tied up National Banks in Missouri that failed to open after banking moratorium last March, all but approximately has been freed depositor use, the comptroller the currency announced today. The status the banks that failed to open: Five banks involving deposits of $22,891,000 have been reopened, habilitated, reorganized under new charters, acceptable assets to another bank. Three banks with $1,543,000 deposits have approved reorganization plans in various stages consummation. They the are Grand tional Bank, Louis; the First tional Bank Webster Groves; and the First National Bank, Lamar. Two banks with deposits of $278,do have approved plans reorganization. They are the First National Bank, Mountain Grove, the First National Bank, Windsor. Three banks with deposits of the hands receivfor liquidation. They are the Cherokee National Bank and the Southside Bank, both Louis, and People' National Bank, Seymour However the Southside National Bank receivers have out an approved organization plan which contemplates the release of 100 percent secured and 50 percent of deposits The five banks that have been reorganized First National Bank, Clayton; Third National Bank, Sedalia; Citizens' National Bank, Maplewood American Ex. change National Bank, St. Louis; and the Fidelity National Bank and Trust Company, Kansas City. Some 300 persons are living on Robinson Crusoe's


Article from Daily American Republic, January 22, 1934

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Article Text

DEPOSITS IN CLOSED BANKS BEING RELEASED By The Associated Press. Washington, Jan. 000 in deposits tied up in national banks in Missouri that failed to open after the banking moratorium last March, all but approximately $9,000,000 has been freed for depositor use, the comptroller of the currency announced today. The status of the 13 banks that failto open: Five banks involving deposits of $22,891 have been reopened, rehabilitated, reorganized under new charters ,or the acceptable assets sold to another bank. Three banks with deposits have approved reorganization plans in various stages of consummation. They are the Grand National Bank, St. Louis; the First National Bank, Webster Groves, and the First National Bank, Lamar. Two banks with deposits of $278,000 do not have approved plans of reorganization. They are the First National Bank, Mountain Grove, and the First National Bank, Windsor. Three banks with deposits of $6,are in the hands of receivers for liquidation. They are the Cherokee National Bank and the Southside National Bank, both of St. Louis, and the Peoples' National Bank, Seymour. However, the Southside National Bank receivers have worked out an approved reorganization plan which contemplates the release of 100 per cent of secured deposits and 50 per cent of unsecured deposits.