American National Bank (Kewanna, IN)

View Charter #10616 on SPMC View balance sheet

Episode Information

Episode UID
1061601562
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
106160 national
Charter Number
10616
Start Date
February 25, 1930
Location
Kewanna, Indiana (41.019, -86.413)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4bc45b3cbd50704f

Response Measures

None

Receivership Details

Depositor recovery rate
92.8%
Date receivership started
1930-02-25
Date receivership terminated
1938-02-28
OCC cause of failure
Economic conditions
Share of assets assessed as good
62.3%
Share of assets assessed as doubtful
28.9%
Share of assets assessed as worthless
8.8%

Description

Known receivership date (1930-02-25) used as authoritative; articles describe it as closed and in receivership.

Events (5)
1. September 18, 1914 Chartered
Source
historical_nic
2. February 25, 1930 Receivership
Source
historical_nic
3. February 25, 1930 Receivership
Newspaper Excerpt
Checks covering 20 per cent of claims of depositors in the closed American National bank here have been mailed by John Owen, Noblesville, receiver, Another dividend of 30 per cent has been paid.
Source
newspapers
4. February 25, 1930 Suspension
Cause
Government Action
Cause Details
Bank closed and placed in receivership (known receivership date 1930-02-25).
Newspaper Excerpt
the American National bank was closed.
Source
newspapers
5. August 22, 1932 Other
Newspaper Excerpt
Kewanna, American National bank (receiver) $22,000 (5 per cent interest).
Source
newspapers

Newspaper Articles (11)
1. August 9, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 9, 1930

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Article Text

SEE BUSINESS AID IN KEWANNA BANK Northern Town Without Can't Die Financial Plant Since Poison and Auto Crash February. Fail to Bring Desired Ball Times Special KEWANNA, Ind., Aug. 9.-OrSuicide. ganization of a new bank, the Kewanna State bank, to be open Bu United Press for business Sept. 1, has been anVANSVILLE, Ind., Aug. 9.-A nounced here by a group of local E drink of lethal poison, plus businessmen. A charter has been granted the an auto crash, failed to bring success to Lawrence Hill, 30, in new institution by the state bankhis suicide attempt, and he was ing department and all preliminary taken to a hospital in a critical arrangements have been completed. condition. The institution will have a capitalAfter drinking poison, Hill ization of $25,000 and a surplus of started down the street in his car. $6,250 when the doors are opened. It will occupy the building in which When the poison took effect he the former First State bank was lost control of the machine and located. collided with a parked car, inflictThis town suffered severe ing serious abrasions. financial reverses since the closing of its two banks last winter. The First State bank went into receivership last February and HOPPERS STILL twenty-nine days later the American National bank was closed. Since then this community has been without a bank and together ON THE MARCH with its financial losses has been seriously handicapped. The men who signed the apInsects Carry Destruction plication for the charter have not been connected with the defunct institutions. Through Posey County. They are: Henry Hirsch of By United Press Logansport, owner of an elevator MT. VERNON, Ind., Aug. 8.-Reat Grass Creek; Charles Evans, William C. Miller, Edward Kreamer lentless march of a great army of and Ralph McConnell of Kewanna, grasshoppers continued today, with and Richard M. Thomas of Grass a quarter of a mile path of destrucCreek. noth registered during

2. April 11, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, April 11, 1931

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Article Text

Bank Receiver Pays By Times Special KEWANNA, Ind., April 11.Checks covering 20 per cent of claims of depositors in the closed American National bank here have been mailed by John Owen, Noblesville, receiver, Another dividend of 30 per cent has been paid.

3. August 22, 1932 Palladium-Item Richmond, IN

Article Text

LOANS CORPORATION First Report Covers 10 Day Period Aug. During the day period from the corporation loaned $46,711,056 to banks, building and loan associations, railroads agencies. The first report the corporamade public today by South Trimble, clerk the signed by Chairman Atlee Pomerene that 437 loans totalling $45,057,556 had been made during the 10-day period prior to July For Aid of Closed Banks The letter said the total amount loaned, $32,990,180 was authorized banks and trust companies $284,900 closed $104,309 agriculture credit porations; $3,088,650 to building and loan associations; to insur$90,000 to joint stock livestock credit gage loan companies, and $6,862,700 railroads The of loans authorized during the day period under tion rate interest of 51 percent cludes: Indiana Auburn, City National bank of. Carlisle, Peoples State bank, Columbia City, Farmers Loan and Trust company, Crothersville, Union State bank. Gary, First National bank ceiver) $235,000 Kewanna, American National bank of Kewanna (receiver) $22,000 Citizens State bank South Bend. St Joseph Loan and Trust $30,000 Building Loan Associations Oakland Home building and Loan association, 000. Companies State Life Insurance company, Trimble making public the following his decision last Thursday he had no other choice under the took exception statement by RepresentaTreadway, of (Please Turn to Page Twelve)

4. August 22, 1932 Muncie Evening Press Muncie, IN

Article Text

REPORT OF FINANCE GROUP SHOWS LOANS Continued From Page One. during the 10-day period under Section Five the act rate of interest of 5% per cent includes: Indiana. Auburn, City National Bank of, $60,000. Carlisle, Peoples State Bank, $8,000 Columbia City, Farmers Loan and Trust Company, $190,000. Union State Bank, Gary, First National Bank of, (receiver $235,000, per cent interest Kewanna, American National Bank of Kewanna (receiver) $22,000, 5 per cent interest. Noblesville, Citizens State Bank, $116,000. South Bend, St. Joseph Loan and Trust Company, $30,000.

5. August 22, 1932 The South Bend Tribune South Bend, IN

Article Text

First Report Made Public by Clerk of House. BANKS GET LARGEST SUM Goes to Help Reorganize Closed Institutions; Treadway Hit. BANK HERE GETS to the Loan Trust company the Reconstruction Finance corporation today in making public its loans to banks other institutions for the entire counfrom July July 31. The corporation said no other loans were authorized the South Bend district during this time. Aug. the 10-day period from July 21 He July 31. the Finance corporation loaned to banks, building loan associations, railroads and other agencies. The first report of the corporation, made public today by South Trimble. clerk of the house of representatives, was accompanied by letter signed by Chairman Atlee Pomerene showing that 437 loans totalling had been during the 10-day period creases in loans authorized prior July had totalled $1,653,500 The letter said the total amount loaned. $32,990,180 was thorized banks and companies, including aid the $104,309 to credit corto and loan associations; to joint land $580,716 credit corporations: $747. 000 to loan companies, and railroads. Disputes Treadway Trimble in public the his decision last Thursday he had no other choice under the took excepto by Representative Treadway conferee on the relief that his decision to make public the reports was gain favor with Speaker John H. Garner. "Such charge is Trimble said law gives me no discretion in the Speakinfluence me in the discharge of my have considered raised the one cited to reports me single decision of the court to support objections My attorney, South Trimble, cited court decisions support his opinion. Mr. Treadway did the opinions did advise me of sound why the defects instead of making charges through the republican committee? Tells of Call. Trimble said that Treadway had the house for the told on the relief bill 'not all its think you beaten the best thing to do is acknowledge "Ten minutes before the hour had set to announce my decision on received telephone call Aug. from high official in the administration asking what my decision would Trimble advised him of the conclusion had reached after reviewing law. He legislative stated that my conto the presitrary dent, and was not authorized by told him would announce my that day but the report was not to inspection until Aug. 22, being one month after the passage the act. said that fair way to handle the matwould give any interested ter as who did not agree with my person construction of opporto the court for tunity petition restraining order." statement of loans authorized The during the 10 day under section the act rate of interest of per cent includes: INDIANA. National bank of, the Auburn, City $60,000. Carlisle, People's State bank. $8,000. Columbia City, Farmers Loan & company, Union State bank, Gary, First National bank of ceiver) $235,000 five per cent interest. Kewanna. American National bank Kewanna (receiver) $22,000 cent Noblesville, Citizens State bank. $116,000.

6. August 22, 1932 The Times-Mail Bedford, IN

Article Text

(Continued From Page One) the defects instead of making charges through the Republican committee Trimble said that Treadway had told the house he would vote for the conference report on the relief "not because of all approve its provisions, but think when you beaten the best thing to do acknowledge minutes before the hour had set announce my decision August 18th, received telephone call from high official the what decision would Trimble advised him of the had reached after reviewing the the law. stated decision trary the wishes of the dent, and was not authorized told him would announce decision that day but the report opened to inspection until August being one after the passage of the He said that fair to handle the matter it would any interested who did person agree my of opportunity to petition the court restraining order. Pomerene's letter said the close of the period $25,000,000 of the $250,000,second series per authorized by the board directors June 16, 1932, had been sold to the Secretary of the Treasury. July 23, the board of rectors authorized the of third series of an gregate of maturing Oct. 1932, and bearing interest the cent annum," said. notes purchased by the Secretary the Treasury as the funds are required by the corporation. "During the period the corporation allocated $5,000,000 to the Secretary Agriculture in accordance with the provisions section the act making of allocated from July 31, inclusive. Of this sum has been paid the Secretary of Agriculture of July following tables are attached of this Statement loans authorized 1932, inclusive, under five of the Reconstruction Finance Corporation Act showing the name, amount and interest in each case; "Table Amount made available under title section of the emergency relief and construction act of 1932, showing name, amount rate of interest. Reconstruction Finance Corporation statement of cash ceipts and expenditures July 1932, July 31, 1932, inclusive. Corporation's with treasof the United States. Table Statement of condition the corporation of the close business July 31, 1932. The statement authorizduring the ten day period under of the rate of interest cent per includes: Indiana Auburn, City National Bank of, $60,000. Carlisle, Peoples State Bank, $8,Columbia City, Farmers Loan Trust Co., $190,000. Union State Bank, Gary, First National Bank (receiver) $235,000 cent per terest. Kewanna, American National Bank of Kewanna (receiver) $22,000 cent interest). Noblesville, Citizens State Bank, South Bend, St. Joseph Loan Trust $30,000.

7. August 23, 1932 The Tipton Daily Tribune Tipton, IN

Article Text

MONTHLY REPORT OF R.E.C. LOANS Millions Loaned to Assist Banks and Other Institutions in U. S. NINE STATE LOANS Washington, Aug. extensive support the reconstruetion corporation is rendering banks, other financial institutions and railroads-all of which must give security for any loan-was Illustrated yesterday when the first monthly report to be made public showed $45,057,556 was disbursed in the last ten days of July. In the 437 advances covered. $32,990,180 went to banks and trust companies, including receivers. The report was laid open by South Trimble. clerk of the Democratic House of Representatives, who said "The law gives me no discretion in the matter." The administration contested the publicity provision when the bill was before Congress. One aim has been to help the banks and business situation by the thawing of "frozen assets." Washington, Aug. 23.-Loans to nine Indiana institutions from the reconstruction finance corporation were announced yesterday as follows: Auburn-City National bank: Carlisle-Peoples State $8,000. Columbia City-Farmers Loan and Trust Company, Crothersville Union State bank, $19,000. Gary-First National bank (receiver), $235,000 (5 per cent interest). Kewanna-American National bank (receiver). $22,000 (5 per cent interest). Noblesville Citizens State bank, $116,000. Indianapolls-State Life Insurance Company, $400,000. South Bend-St. Joseph Loan and Trust Company, $30,000.

8. August 23, 1932 The Tipton Daily Tribune Tipton, IN

Article Text

NINE STATE LOANS Washington, Aug. 23.—The extensive support the reconstruction corporation is rendering banks, other financial institutions and railroads—all of which must give security for any loan—was illustrated yesterday when the first monthly report to be made public showed $45,057,556 was disbursed in the last ten days of July. In the 437 advances covered, $32,990,180 went to banks and trust companies, including receivers. The report was laid open by South Trimble, clerk of the Democratic House of Representatives, who said "The law gives me no discretion in the matter." The administration contested the publicity provision when the bill was before Congress. One aim has been to help the banks and business situation by the thawing of "frozen assets." Washington, Aug. 23.—Loans to nine Indiana institutions from the reconstruction finance corporation were announced yesterday as follows: Auburn—City National bank, $60,000. Carlisle—Peoples State bank, $8,000. Columbia City—Farmers Loan and Trust Company, $190,000. Crothersville — Union State bank, $19,000. Gary—First National bank (receiver), $235,000 (5 per cent interest). Kewanna—American National bank (receiver), $22,000 (5 per cent interest). Noblesville — Citizens State bank, $116,000. Indianapolis—State Life Insurance Company, $400,000. South Bend—St. Joseph Loan and Trust Company, $30,000.

9. August 23, 1932 The Call-Leader Elwood, IN

Article Text

PROPER SECURITY REQUIRED Washington, Aug. 22.-The extensive support the reconstruction cor poration is rendering banks, other financial institutions and railroads all of which must give security for any loan-was illustrated today when the first monthly report to be made public showed $45,057,556 was disbursed in the last ten days of July. In the 437 advances covered, $32. 990,180 went to banks and trust companies, including receivers The report was laid open by South Trimble, clerk of the Democratic House of Representatives, who said "The law gives me no discretion in the matter." The administration contested the publicity provision when the bill was before Congress. Pomerene Opposes Publication. Atlee Pomerene, chairman of the reconstruction corporation, told news papermen he was opposed to publication of the report. In governmental and banking quar ters here, it was pointed out that the reconstruction directors require security considered adequate before authorizing any loan. One aim has been to help the banks and business situation by the thawing of "frozen assets." In making loans to banks in fundamentally good financial condition, the corporation has op erated to enable banks to mete de mands made on them and at the same time to facilitate spread of credit. Outlines Corporation's Condition. In the document submitted to the House clerk, Mr. Pomerene outlined the condition of the corporation, show ing that exclusive of repayments, a total of $886,047,522 had been loaned up to Aug. 1. Loans totaling $223.882,599 have been authorized but not yet disbursed. Loans to nine Indiana institutions from the reconstruction finance cor poration were announced today as follows: Auburn-City National bank, $60,000. Carlisle-Peoples State bank, $8,000. Columbia Farmers Loan and Trust Company, $190,000 Crothersville-Union State bank, $19,000. Gary-First National bank (receiver), $235,000 (5 per cent interest.) Kewanna-American National bank (receiver), $22,000 (5 per cent interest.) Noblesville-Citizens State bank, Indianapolis-State Life Insurance South Bend-St. Joseph Loan and Trust Company, $30,000.

10. August 24, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article Text

GARY GETS $235,000 FEDERAL Aug. totaling were authorized during the last eleven of days the detailed public report of the Finance corporation, released today South Trimble. clerk of the house, disclosed. letter from the chairman the board. Atlee accompanied the detailed report. set forth that 437 loans were made in the eleven-day period. The First National Bank Gary, in the hands receiver. was listed as having obtained loan five and percent, the uniform rate. Aug. authorized by the federal to the closed First National bank in Gary to provide cash with which the bank can its first twenty percent dividend its depositors. There has been much delay obtaining final approval of and because much red tape in Washington there further delay actually getting the cash on hand here that hurdle now passed and that will only short time until depositors will receive their first dividend checks. understood that the checks for the first twenty percent dividend the closed Naional Bank of America will paid within short time, perhaps even before the First National's The statement of loans authorised the ten-day period under Section of the Reconstruction Finance act at rate interest five and one-half includes the following in Indiana: National bank. $60.000; Carlisle, People's State bank, $8,000; Columbia City, Farmers' Loan and Trust Company, $190,000; Orothersville, Union State bank, $19,000; Gary, First National bank (receiver), Kewanna, American National Bank of Kewanna (receiver) $22,000 (five percent inNoblesville, Citizens' State $116,000; South Bend, St. Loan Trust company, $30,000. Loans to building and loan associations Indiana included Home Economy Loan association, Oakland City, $15,000, and to insurance companies, State Life Insurance company, Indianapolis,

11. August 24, 1932 The Kokomo Tribune Kokomo, IN

Article Text

(Continued from One) announced and the amounts they to are follows: Auburn, City National Bank, $60,000 Carlisle, Peoples State Bank, $8,Columbia City, Farmers Loan Co., Union State Bank, Gary. Flrst National Bank of, (receiver) $235,000 per COOL interest. Kewanna, American National Bank of (receiver), $22,Noblesville, Citizens State Bank, South Bend, St. Joseph Loan Trust Co., $30,000.