First National Bank - Louisville, KY

Episode Information

Episode UID: 10901571
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1090 national
Charter Number: 109
Start Date: November 17, 1930
Location: Louisville, Kentucky (38.254, -85.759)

Metadata

Model: gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 286f0d9769b406a5

Response Measures

None

Description

This is a small Negro bank in Louisville, distinct from the larger National Bank of Kentucky mentioned in the same article.

Events (2)

1. October 22, 1863 Chartered

Source: historical_nic

2. November 17, 1930 Suspension

Cause: Correspondent
Cause Details: Closed because it cleared through the Louisville Trust Company, which suspended due to its affiliation with the failed National Bank of Kentucky.
Newspaper Excerpt: Two small Negro banks in Louisville, the American Mutual Savings bank and the First National bank, which cleared thru the Louisville Trust company, later closed.
Source: newspapers

Newspaper Articles (1)

1. November 18, 1930 Fort Collins Coloradoan Fort Collins, CO

Article from Fort Collins Coloradoan, November 18, 1930

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Article Text

Eight Kentucky Financial Houses Are Closed Today Louisville, Ky.—(AP)—Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under the control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affiliated institutions, the Louisville Trust company and the Security bank, suspended operations. Their directors said they were solvent and that they were closed as a precautionary measure. The three institutions are affiliated thru the Banco-Kentucky, a holding company. Two small Negro banks in Louisville, the American Mutual Savings bank and the First National bank, which cleared thru the Louisville Trust company, later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville also closed when it was learned the National bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust company at Franklin, Ky., and the First National bank at Horse Cave, Ky. The National Bank of Kentucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring yesterday's deposits were greater than withdrawals, reported new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.