First National Bank (Aurora, CO)

View Charter #11682 on SPMC View balance sheet

Episode Information

Episode UID
1168201606
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
116820 national
Charter Number
11682
Start Date
October 31, 1933
Location
Aurora, Colorado (39.729, -104.832)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7268cc9c63c0c86c

Response Measures

None

Receivership Details

Depositor recovery rate
46.1%
Date receivership started
1933-10-31
Date receivership terminated
1937-12-31
Share of assets assessed as good
43.3%
Share of assets assessed as doubtful
44.2%
Share of assets assessed as worthless
12.6%

Description

Articles report the bank as already closed and under conservatorship/receiver; confession dated Dec 29, 1933.

Events (3)
1. April 16, 1920 Chartered
Source
historical_nic
2. October 31, 1933 Receivership
Source
historical_nic
3. October 31, 1933 Receivership
Newspaper Excerpt
the closed First National Bank of Aurora, Colo., had surrendered and confessed defalcations
Source
newspapers

Newspaper Articles (2)
1. December 29, 1933 Evening Star Washington, DC
Article from Evening Star, December 29, 1933

Click image to open full size in new tab

Article Text

CONFESSION OF BANK OFFICIAL IS REPORTED Denver Prosecutor Says Former Head of Institution Has Admitted $74,000 Defalcation. By the Associated Press. DENVER, December 29.-United States District Attorney Thomas J. Morrissey announced today that T. Frank Gilligan, president and former conservator of the closed First National Bank of Aurora, Colo., had surrendered and confessed defalcations amounting to about $74,000 in the last eight years. "I've spent eight years wondering when the law was going to tap me on the shoulder, and I'm glad it's all over now," Gilligan was quoted as saying. Morrissey said Gilligan told him he did not benefit from the money he took, but used his own personal fortune. besides the $74,000, in an attempt to save the bank from receivership.

2. December 29, 1933 The Kansas City Times Kansas City, MO

Article Text

IN FEAR OF LAW EIGHT YEARS. Attorney Announces Banker Confessed Taking (By DENVER, Dec. Morrissey, United district today that Frank Gillithe closed First National Bank Aurora, Col., had surrendered and amounting in the last eight years. I've spent years wondering the going tap the and I'm glad it's over now." Gilligan was quoted saying. Morrissey said Gilligan told him did benefit from the money but used his personal fortune besides the an save the bank from receivership.