First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 4992
Charter Number: 4992
Start Date: April 27, 1931
Location: Tracy, Minnesota (44.233, -95.619)

Metadata

Model: gpt-5-mini
Short Digest: 70f23cda

Response Measures

None

Receivership Details

Depositor recovery rate: 65.1%
Date receivership started: 1931-04-29
Date receivership terminated: 1935-10-31
OCC cause of failure: Economic conditions
Share of assets assessed as good: 42.0%
Share of assets assessed as doubtful: 52.1%
Share of assets assessed as worthless: 5.9%

Description

Article (Redwood Gazette, 1931-04-30) reports First National Bank of Tracy failed to open its doors for business last Monday and states the bank closes. No mention of a depositor run, reasons, or reopening; treat as a suspension that resulted in closure. Date for suspension inferred as 1931-04-27 (the Monday before publication).

Events (3)

1. April 6, 1895 Chartered

Source: historical_nic

2. April 27, 1931 Suspension

Cause Details: Article explicitly states reason for suspension was not given to the public.
Newspaper Excerpt: the First National Bank at Tracy failed to open its doors for business last Monday.
Source: newspapers

3. April 29, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. April 30, 1931 The Redwood Gazette Redwood Falls, MN

Article from The Redwood Gazette, April 30, 1931

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Article Text

TRACY BANK CLOSES Regarded as one of the strongest financial institutions in this territory, the First National Bank at Tracy failed to open its doors for business last Monday. Reason for suspension was not given to the public. The institution has a capital of $60,000, and a surplus of $10,000 and deposits around $600,000.