9621. First National Bank (Webster Groves, MO)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
12781
Charter Number
12781
Start Date
March 1, 1933*
Location
Webster Groves, Missouri (38.593, -90.357)

Metadata

Model
gpt-5-mini
Short Digest
8457103b6d8ef9b2

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-03-01
Date receivership terminated
1936-08-31
Share of assets assessed as good
53.6%
Share of assets assessed as doubtful
41.3%
Share of assets assessed as worthless
5.1%

Description

Articles state the First National Bank, Webster Groves failed to open after the banking moratorium last March (March 1933) and is listed among banks with reorganization plans; a receiver (Herbert Johnson) is distributing dividends in Dec 1934, indicating the bank remained closed and in receivership. No article describes a depositor run prior to suspension.

Events (4)

1. July 1, 1925 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Did not reopen following the national/state banking moratorium (March 1933) after the banking holiday; failure to open driven by the moratorium and subsequent closure decisions.
Newspaper Excerpt
failed to open after banking moratorium last March
Source
newspapers
3. March 1, 1934 Receivership
Source
historical_nic
4. December 28, 1934 Receivership
Newspaper Excerpt
The Receiver, Herbert Johnson, of the First National Bank in Groves ... checks ... ready for distribution. The receiver's office now located on the mezzanine of the old quarters of the First National Bank (News-Times, 1934-12-28).
Source
newspapers

Newspaper Articles (3)

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.


Article from The News-Times, December 28, 1934

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Article Text

MORE CHECKS AT 1ST NATL BANK The Receiver, Herbert Johnson, of the First National Bank in Groves has most welcome New Years greeting. The fourth schedule of checks of the cent first idend have been received and ready for distribution. Claiments are asked call for them immediately. They will find the receivers office now located on the mezzanine of the old quarters of the First National Bank The first dividend was approved June by the Comtroller the Currency and the checks for the tion of payment were made out and about July The first checks were received here the middle of August. There are several hundred depositors who have not filed claims and the receiver urges these people to come and once parents the pupils Miss Patty enjoyed dance program given the Monday, December