First National Bank - Park Rapids, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5542
Charter Number: 5542
Start Date: December 27, 1933
Location: Park Rapids, Minnesota (46.922, -95.059)

Metadata

Model: gpt-5-mini
Short Digest: 1f3276a3

Response Measures

None

Receivership Details

Depositor recovery rate: 74.1%
Date receivership started: 1933-11-08
Date receivership terminated: 1938-06-24
Share of assets assessed as good: 36.4%
Share of assets assessed as doubtful: 62.2%
Share of assets assessed as worthless: 1.4%

Description

Article (Park Rapids Enterprise, 1933-12-28) reports appointment of an attorney for the receiver of the First National Bank of Park Rapids and states the bank is 'in process of liquidation.' No run is mentioned; receiver appointed and liquidation imply permanent closure.

Events (3)

1. August 17, 1900 Chartered

Source: historical_nic

2. November 8, 1933 Receivership

Source: historical_nic

3. December 27, 1933 Receivership

Newspaper Excerpt: K. Wilson received appointment yesterday as attorney the receivof the First National Bank of Park Rapids which of process liquidation. Mr. Wilson will handle all the legal matters connection the foreclosing mortgages, and pass the legality other matters.
Source: newspapers

Newspaper Articles (1)

1. December 28, 1933 Park Rapids Enterprise Park Rapids, MN

Article from Park Rapids Enterprise, December 28, 1933

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Article Text

Wilson Named Attorney For Bank Receiver K. Wilson received appointment yesterday as attorney the receivof the First National Bank of Park Rapids which of process liquidation. Mr. Wilson will handle all the legal matters connection the foreclosing mortgages, and pass the legality other matters.