First National Bank (Pharr, TX)

View Charter #10169 on SPMC View balance sheet

Episode Information

Episode UID
1016901583
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
101690 national
Charter Number
10169
Start Date
November 12, 1931
Location
Pharr, Texas (26.195, -98.184)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
20bd2f78021ef690

Response Measures

None

Receivership Details

Depositor recovery rate
33.0%
Date receivership started
1931-11-12
Date receivership terminated
1937-08-20
Share of assets assessed as good
20.8%
Share of assets assessed as doubtful
63.4%
Share of assets assessed as worthless
15.9%

Description

Using known government receivership date (1931-11-12) as authoritative; later 1935 article notes a successor receiver during liquidation.

Events (4)
1. April 2, 1912 Chartered
Source
historical_nic
2. November 12, 1931 Receivership
Source
historical_nic
3. November 12, 1931 Receivership
Newspaper Excerpt
W. W. Collier ... has been appointed receiver for the defunct First National bank of Pharr and liquidation is scheduled to start soon.
Source
newspapers
4. February 13, 1935 Other
Newspaper Excerpt
Ben Freudenstein ... has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank.
Source
newspapers

Newspaper Articles (2)
1. November 20, 1931 McAllen Daily Press McAllen, TX

Article Text

Bank Receiver Appointed PHARR, Nov. 20-(Sp)-W. W. Collier of Edinburg has been appointed receiver for the defunct First Na ional bank of Phare and liquidatio: is scheduled to start soon, according to reliable reports here today.

2. February 13, 1935 El Heraldo De Brownsville Brownsville, TX
Article from El Heraldo De Brownsville, February 13, 1935

Click image to open full size in new tab

Article Text

Freudenstein Named Pharr Bank Receiver Ben Freudenstein, receiver for the Merchants National Bank of Brownsville, has been named also as receiver for the defunct First National Bank of Pharr. The duties will be added to his duties as receiver for the Brownsville bank. He succeeds W. W. Collier, former state banking commissioner.