Fidelity National Bank & Trust Company (Kansas City, MO)

View Charter #11344 on SPMC View balance sheet

Episode Information

Episode UID
1134401599
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
113440 national
Charter Number
11344
Start Date
March 1, 1933*
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
49b333db1cbf4011

Response Measures

Capital injected, Partial suspension, Full suspension

Other: The bank paid out $16,000,000 of its $36,000,000 in deposits due to heavy withdrawals before closing and later reorganized under a new charter.

Description

The bank experienced heavy withdrawals ($16M of $36M) prior to the March 1933 holiday and reopened after reorganization.

Events (5)
1. May 1, 1919 Chartered
Source
historical_nic
2. March 1, 1933* Run
Cause
Macro News
Cause Details
Heavy withdrawals occurring in the period leading up to the national banking holiday.
Measures
The bank eventually restricted withdrawals to a five per cent basis during its reorganization period.
Newspaper Excerpt
it is known that the Fidelity paid out because of heavy some $16,000,000 its $36,000,000 deposits before closed.
Source
newspapers
3. March 6, 1933 Suspension
Cause
Government Action
Cause Details
National banking holiday/moratorium and subsequent failure to open on a 100% basis immediately.
Newspaper Excerpt
National Banks in Missouri that failed to open after banking moratorium last March
Source
newspapers
4. November 24, 1933 Voluntary Liquidation
Source
historical_nic
5. January 22, 1934 Reopening
Newspaper Excerpt
The five banks that have been reorganized... and the Fidelity National Bank and Trust Company, Kansas City.
Source
newspapers

Newspaper Articles (4)
1. March 9, 1933 Mound City News-Independent Mound City, MO

Article Text

CITIZENS CALM DURING EMERGENCY Exchange Bank Suspended Operations In Conformity Presidential Proclama- tion. The Banks of Holt County suspended normal morning to conform Saturday with state wide holiday order a issued by Governor Guy Park. for Since that time President of Roosevelt has issued a proclamation all the banks closing the United States for a period ending Friday, March 10. The local banks have followregulations ordering them laid down by the secreclose, of the treasury. Some have tary remained open during regular hours for the purpose banking of making change. There is no cause for any alarm the local regarding tion as all the Holt County banks are believed to be in cellent condition. has been convened Congress special session beginning today (Thursday) and acnoon cording to radio reports have legislation conferring passed extraordinary to Presipowers dent Roosevelt, trol all banks until this emeris safely past. The spirit fortitude and patience with which the people this community and the tire has reacted to the country bank holiday, has emergency been surprising. individuals and busiMany houses found themselves ness with small amount of only hand when the currency on bank went into effect. holiday St. Business has been retarded to extent. Merchants some most cases have accepted checks for the exact amount but have been purchases tant to let loose of any currenor silver in change. Bank here The Exchange to be strong as known is anywhere, and bank there must be attributed its closing solely to the the nation. ditions throughout thing that Now the only to await the order to with patience banks after the the open and regulational adjustments formulated and tions have been issued.

2. April 23, 1933 The Ponca City News Ponca City, OK

Article Text

CAPPS CASE PROBE PONCA ENDED INVESTIGATORS ED ELSEWHERE; CHECK RECORDS FOR SHORTAGE Conviction of Frank Capps, former assistant cashier of the First National bank of making false entries, apparently closes the investigation of the department of justice here, was learned Saturday. Word has been received by Frank M. Overstreet, conservator in charge, that may put away records being checked. It has also been learned that W. S. Rich, department justice agent, who made the investigation here, has been sent to California. Withdrawal of the department is further indication that there basis for the rumor that Capps may have had confederate. Capps is now in Leavenworth where he is serving five-year term in the federal penitentiary. The total shortage that he admits exists in his department amounts to $26,000. He pleaded guilty to making false entries and admits using some $6,000 of the bank's money but he has explained what went with the balance the money. He did deny taking it. Need Proof For Bond Money The bank was protected by bond of $15,000. It will be necessary to show proof that Capps took this amount of money order to collect. Accountants are beginning a further check of the records in order to trace all shortages. It is believed, with the beginning that has been made, that they will have no great difficulty. As soon as the evidence is collected, claim will be filed with the bonding company. No further word has been received from the Fidelity National bank at Kansas City, open now on five per cent restricted basis. Since the closing efforts have been made to open the bank so that depositors might be paid in full. The bank served as depository for many small banks, nearly 500, which the First National here was one of the largest. It carried some $78,000 when the bank closed. is known that the Fidelity paid out because of heavy some $16,000,000 its $36,000,000 deposits before closed. This fact has made somewhat difficult to effect a reorganization. "New" Bank in Operation The local bank has been open for several weeks on five per cent restricted basis. Actually an old and new bank are being operated. The old bank is being liquidated while the new bank transacting general banking business with the exception that no loans are being made. Five per cent of the old deposits have been set over into new accounts in the new bank and new deposits are received on hundred per cent basis. Efforts to reorganize the old bank or to effect an organization of new one still continuing with no new developments.

3. January 22, 1934 Jefferson City Post-Tribune Jefferson City, MO

Article Text

DEPOSITORS U. S. Comptroller Gives Status of Missouri Finincial Institutions; Are Being Reorganized. WASHINGTON, Jan. in deposits tied up National Banks in Missouri that failed to open after banking moratorium last March, all but approximately has been freed depositor use, the comptroller the currency announced today. The status the banks that failed to open: Five banks involving deposits of $22,891,000 have been reopened, habilitated, reorganized under new charters, acceptable assets to another bank. Three banks with $1,543,000 deposits have approved reorganization plans in various stages consummation. They the are Grand tional Bank, Louis; the First tional Bank Webster Groves; and the First National Bank, Lamar. Two banks with deposits of $278,do have approved plans reorganization. They are the First National Bank, Mountain Grove, the First National Bank, Windsor. Three banks with deposits of the hands receivfor liquidation. They are the Cherokee National Bank and the Southside Bank, both Louis, and People' National Bank, Seymour However the Southside National Bank receivers have out an approved organization plan which contemplates the release of 100 percent secured and 50 percent of deposits The five banks that have been reorganized First National Bank, Clayton; Third National Bank, Sedalia; Citizens' National Bank, Maplewood American Ex. change National Bank, St. Louis; and the Fidelity National Bank and Trust Company, Kansas City. Some 300 persons are living on Robinson Crusoe's

4. January 22, 1934 St. Joseph News-Press St. Joseph, MO

Article Text

HUGE SUM RELEASED Over $22,000,000 in Frozen Deposits in Missouri Freed. About $9,000,000 in Closed National Institutions Is Still Unavailable. Jan. deposits tied up tional banks Missouri failed open after the banking moratorium but approximately $9,000,000 has been for depositor the comptroller currency today. The status of the thirteen banks failed open: Five banks involving deposits of have been reopened, habilitated, reorganized under charters, the acceptable assets sold to another bank. Three to Be Reorganized. Three banks with $1,543,000 deposits plans stages consumThey are the Grand National Bank, Louis; the National Bank, Webster the Bank, Lamar. banks deposits of $278,000 not They the First National Bank, Grove, and the First National Bank, Wind- Three Are in Liquidation Three banks with deposits of 707,000 in the for They are the Cherokee National Bank and the Southside National Bank, Both St. Louis, the People's National Bank; the National out organization plan plates the release of 100 per cent secured deposits 50 per unsecured deposits. The five banks have been reorganized First National Bank, Third National Bank, National Bank, Exchange National Bank, Louis, and the Fidelity National Trust Company, Kansas City.