First National Bank (Wakarusa, IN)

View Charter #11043 on SPMC View balance sheet

Episode Information

Episode UID
1104301606
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
110430 national
Charter Number
11043
Start Date
October 3, 1933
Location
Wakarusa, Indiana (41.536, -86.021)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ea98882961a7ff05

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-10-03
Date receivership terminated
1935-12-04
Share of assets assessed as good
51.5%
Share of assets assessed as doubtful
45.3%
Share of assets assessed as worthless
3.1%

Description

Known receivership in Oct 1933 is referenced; articles report final dividend paid July 1935.

Events (4)
1. July 20, 1917 Chartered
Source
historical_nic
2. October 3, 1933 Receivership
Source
historical_nic
3. October 3, 1933 Receivership
Newspaper Excerpt
institution closed in October, 1933; First National bank receiver
Source
newspapers
4. July 18, 1935 Other
Newspaper Excerpt
Hugh M. Hayes, First National bank receiver, said 1,000 persons... will receive a 107.9 per cent reimbursement Saturday.
Source
newspapers

Newspaper Articles (3)
1. July 18, 1935 Journal and Courier Lafayette, IN

Article Text

BANK DEPOSITORS WILL GET 107 PCT. DIVIDEND WAKARUSA, Ind., July 18.—(AP)—Hugh M. Hayes, First National bank receiver, today said 1,000 persons who had approximately $200,000 on deposit when the institution closed in October, 1933, will receive a 107.9 per cent reimbursement Saturday. The 7.9 per cent represents interest, Hayes announced. He pointed out a 100 per cent assessment against holders of $25,000 in stock and a liquidation of assets made possible the settlement.

2. July 18, 1935 The Courier-Journal Louisville, KY

Article Text

Closed Bank to Pay Depositors 107.9 Pct. Wakarusa, Ind., July 17 (AP)—Hugh M. Hayes, First National Bank receiver, today said 1,000 persons who had approximately $200,000 on deposit when the institution closed in October, 1933, will receive a 107.9 per cent reimbursement Saturday. The 7.9 per cent represents interest, Hayes announced. He said a 100 per cent assessment against holders of $25,000 in stock and a liquidation of assets made possible the settlement.

3. July 18, 1935 The Star Press Muncie, IN

Article Text

Defunct Bank Will Pay 107 Pct. On Deposits Wakarusa, Ind., July 17 (AP)—Hugh M. Hayes, First National Bank receiver, today said 1,000 persons who had approximately $200,000 on deposit when the institution closed in October, 1933, will receive a 107.9 per cent reimbursement Saturday. The 7.9 per cent represents interest, Hayes announced. He pointed out a 100 per cent assessment against holders of $25,000 in stock and a liquidation of assets made possible the settlement.