Continental National Bank (Indianapolis, IN)

View Charter #9537 on SPMC View balance sheet

Episode Information

Episode UID
953701598
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
95370 national
Charter Number
9537
Start Date
February 27, 1933
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e916e78e83941ae5

Response Measures

None

Receivership Details

Depositor recovery rate
87.7%
Date receivership started
1933-04-08
Date receivership terminated
1938-06-17
Share of assets assessed as worthless
100.0%

Description

Articles describe city-wide banking restrictions and subsequent reopening but do not name Continental National Bank specifically.

Events (6)
1. September 13, 1909 Chartered
Source
historical_nic
2. January 13, 1931 Voluntary Liquidation
Source
historical_nic
3. February 27, 1933 Run
Cause
Macro News
Cause Details
Widespread banking distress/nervousness during the 1933 banking crisis prompted limits on withdrawals in Indianapolis.
Measures
Limits placed on withdrawals (restricted amounts; portions of balances released over time)
Newspaper Excerpt
BANKS LIMIT WITHDRAWALS ... Indianapolis banks, restricted Monday
Source
newspapers
4. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Federal/state banking holiday/ordered suspension of banking operations during the March 1933 banking emergency.
Source
newspapers
5. March 16, 1933 Reopening
Newspaper Excerpt
BANKS OF CITY ARE BACK ON NORMAL BASIS ... The mild flurry incident to reopening of Indianapolis banks ended today. The situation is normal, except for a preponderance of deposits over withdrawals, bank officials reported.
Source
newspapers
6. April 8, 1933 Receivership
Source
historical_nic

Newspaper Articles (2)
1. February 27, 1933 The Buffalo News Buffalo, NY
Article from The Buffalo News, February 27, 1933

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Article Text

BANKS LIMIT WITHDRAWALS 27 Withdrawals checking accounts, savings accounts and deposits evidenced certificates Indianapolis banks, restricted Monday per the amount on posit. statement clearing said "other portions balances be released from time to time justify

2. March 16, 1933 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, March 16, 1933

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Article Text

# BANKS OF CITY ARE BACK ON NORMAL BASIS Deposits and Withdrawals Below Figures of First Two Days. The mild flurry incident to reopening of Indianapolis banks ended today. The situation is normal, except for a preponderance of deposits over withdrawals, bank officials reported. Total deposits today were not expected to reach figures set the first two days of the banks' reopening, although the morning's business indicated deposits would continue to exceed withdrawals by a large percentage. Total deposits in Indianapolis clearing house banks Wednesday were $7,392,000. Tuesday the deposits in cash and checks aggregated more than $8,000,000. Tuesday's cash withdrawals of $538,000 were mostly in the form of pay roll checks which had accumulated during the banking holiday. Fewer pay roll checks were cashed Wednesday, although a few firms paid by check Wednesday. and pay roll checks were expected to be almost a rarity today. Officials of downtown banks today reported the public accepting the situation even more calmly