First National Bank (West Alexandria, OH)

View Charter #11733 on SPMC View balance sheet

Episode Information

Episode UID
1173301551
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
117330 national
Charter Number
11733
Start Date
March 13, 1929
Location
West Alexandria, Ohio (39.744, -84.532)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9846be4fe5f569b3

Response Measures

None

Receivership Details

Depositor recovery rate
96.3%
Date receivership started
1929-03-13
Date receivership terminated
1933-09-01
OCC cause of failure
Fraud
Share of assets assessed as good
68.0%
Share of assets assessed as doubtful
16.4%
Share of assets assessed as worthless
15.5%

Description

Closure ordered by federal examiner after cashier's suicide and discovered shortage; receiver subsequently appointed.

Events (6)
1. May 28, 1920 Chartered
Source
historical_nic
2. March 13, 1929 Receivership
Source
historical_nic
3. March 13, 1929 Suspension
Cause
Government Action
Cause Details
Federal examiner ordered closure following the cashier's suicide and subsequent discovery of a substantial shortage/misappropriation (≈$58,000).
Newspaper Excerpt
M. M. Ward, Cincinnati, federal bank examiner, today ordered that the bank be closed.
Source
newspapers
4. March 15, 1929 Receivership
Newspaper Excerpt
M. M. Ward, Cincinnati National Bank Examiner, has named E. Trimble Smith ... to be receiver for the First National Bank of this village, which was ordered closed following the death of Sherman Mills, cashier.
Source
newspapers
5. March 18, 1929 Other
Newspaper Excerpt
the bank will be reopened Monday morning for an indefinite time only to receive payments on notes. No withdrawals by depositors will be permitted.
Source
newspapers
6. July 18, 1929 Other
Newspaper Excerpt
A dividend of Fifty Per Cent ... was just paid by the West Alexandria institution ... Fouts called attention to the fact that the bank suspended on March 12
Source
newspapers

Newspaper Articles (17)
1. March 13, 1929 The Coshocton Tribune Coshocton, OH
Article from The Coshocton Tribune, March 13, 1929

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Article Text

Solution of Chicago's Greatest Gang Massacre Announced by Attorney Alexandria Banker Suicides; Examiner Called WEST March community was horribly shocked today when learned that Sherman Mills. 55, cashier of the first national bank here, shot and killed himself in garage in the of the bank late last night. Mills fired four shots into his body. according to police. thru his mouth and two just low the heart. The supposed suicide followed for federal bank examiner issued yesterday by the board trustees. Johnson, president of the bank, said no statement will made until after the examiner arrives today. Despite disquieting rumors, no run on the bank is believed probable. Mills was life long resident of this city. He former Sunday school superintendent, well known and well respected. His widow and one daughter, Mrs. Edna Mills Brower, of mond, Ind., survive. This town located about 18 miles west of Dayton. WEST ALEXANDRIA Mar. First National bank here its doors today. This was the second shock administered to this community during the last hours. The cashier. Sherman Mills, committed suicide last night by ing four bullets into his body. Ward, Cincinnati, federal bank examiner, today ordered that the bank be closed. Mills had been cashier of the bank since had been founded, years tomorrow. The bank has liabilities of $413,and is capitalized at $40,000. Ward and bank officials refused discuss case so not known whether shortage exists. Staff Correspondent CHICAGO, March Chicago's greatest gangland sacre of seven members of George "Bugs" Moran's gang, long hinted. long predicted and investigated by every body here, an attache the state's attorney's office. Into this blood-red tale of horror woven all the complexities modern gang warfare, coupling the massacre to the iron rule of Capone, the murder of Arnold Rothstein, New York gambler and alleged head of narcotic ring, to the slaying of the New York Frankie racketeer. Uale, to the internecine gang operations in Chicago, the fight for stills, beer running and territory-and to the long list of unsolved gang murders in Chicago. The arrest of three men in troit, who are believed to be John Burke, Gus Winkler and Milford Jones. and their identification here the men wanted, the last connecting link the police need, announced. Burke believed to be Joseph of St. bank robber fugitive from Louisville, Ky., with record kidnaper and suspected of several Jones is thot be James Ray, of St. Louis, and Winkler said to be Claude Maddox, the man who imported Burke and Ray for $20,000 each to handle the execution of the north gangsters.

2. March 13, 1929 Telegraph-Forum Bucyrus, OH
Article from Telegraph-Forum, March 13, 1929

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Article Text

EXAMINER ORDERS CLOSING OF BANK WEST ALEXANDRIA O., Mar 13 (INS)-The First National Bank here closed its doors today This was the second shock administered to this community during the last 24 hours. The cashier, Sherman Mills, 65, committed suicide last night by firing four bullets into his body M. M. Ward, Cincinnati, federal bank examiner, today ordered that the bank be closed. Mills had been cashier of the bank since it had been founded 24 years ago tomorrow. The bank has liabilities and resources of $413,000 and is capitalized at $40,000. Ward and bank officials refused to discuss the case so it is not known whether a shortage exists.

3. March 13, 1929 The Galion Inquirer Galion, OH
Article from The Galion Inquirer, March 13, 1929

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Article Text

SUICIDED GARAGE Cashier of Bank at West Alexandria Shot Himself WEST ALEXANDRIA, March 13. (INS)-This community was horribly shocked today when it learned that Sherman Mills, 65. cashier of the First National bank here. shot and killed himself a garage in the rear of the bank late last night. Mills fired four shots into his own body, according to police, two through his mouth and two just below the heart. The supposed suicide followed a call for a federal bank examiner issued yesterday by the board of trustees. M. E. Johnson, president of the bank said no statement will be made until after the bank examiner arrives today. Despite disquieting rumors no "run" on the bank is believed probable. Mills was a life-long resident of this city. He was former Sunday school superintendent, well-known and wellrespected. His widow and one daughter, Mrs. Edna Mills Brower, of Richmond, Ind., survive. This town is located about 18 miles west of Dayton. The First National bank here closed its doors today. This was the second shock administered to this community during the last 24 hours. The cashier, Sherman Mills, 65, committed suicide last night by firing four bullets into his body. M. M. Ward, Cincinnati, federal bank examiner, today ordered that the bank be closed. Mills had been cashier of the bank since it had been founded, 24 years ago tomorrow. The bank has liabilities and re: sources of $413,000 and is capitalized at $40,000. Ward and bank officials refused to discuss the case 80 it is not known whether a shortage exists.

4. March 15, 1929 The Journal News Hamilton, OH
Article from The Journal News, March 15, 1929

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Article Text

BANK RECEIVER AT WEST ALEX NAMED West Alexandrin, O., Mar. 15. (AP) M. M. Ward, Cincinnati National Bank Examiner, has named E. Trimble Smith, Mt. Sterling, to be receiver for the Mirst National Bank of this village, which was ordered closed following the death of Sherman Mills, eashier. When the bank will reopen for business was not made public by Ward, who said he and his assistant, W. J. Kunzi, Columbus, still were at work on books of the bank and accounts of Mills, who shot himself when in the barn in the rear of the bank Tuesday night after the bank examiners made an unexpected visit to the bank.

5. March 16, 1929 The Daily Advocate Greenville, OH
Article from The Daily Advocate, March 16, 1929

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Article Text

ALEXANDRIA BANK SHORTAGE FIXED EXAMINERS COMPLETE INVESTIGATION AND FILE "SECRET" REPORT WITH DIRECTORS Special Meeting Called to Discuss Plans to Make Up Shortage-Reopening of Bank Scheduled Receiver to Take Payments of Notes -Withdrawals Barred. West Alexandria, Ohio, March Shortage of funds in the First National bank West Alexandria proximates $58,000. was learned today after national bank examiners made "secret" report the board of directors of the institution. This report already has been forwarded to the comptroller of currenat Washington. In the meantime, the bank will be reopened Monday morning for an indefinite only to receive payments on notes. No withdrawals by depositors will be permitted. Despite the fact that all persons associated with the bank have been sworn to secrecy, newspapers, how ever, informed reliably last night that discrepancies revealed prior and subsequent to the suicide of Sherman Mills, 65 years old, cashier, last Tuesday, would be approximately $58,000. Trimble Smith, receiver for the bank, will be in complete charge when the institution is reopened Monday. It was closed Wednesday after the spectacular death Tuesday night of Mills. bank will meet within the next 48 hours determine what steps will be taken to cover the shortage of Mills. The most likely alternative offerto date is consolidation with another bank in the vicinity.

6. July 18, 1929 The Daily Advocate Greenville, OH
Article from The Daily Advocate, July 18, 1929

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Article Text

TREASURY TO LIQUIDATE ALEX. BANK OPTIMISTIC PICTURE IS PAINTED BY OFFICIALS OF INSOLVENT BANKS DIVISION Dividend of Fifty Per Paid by West Alexandria Institution Another Substantial Dividend Preof People of West Alex and Vicinity Highly Praised. tic picture of the early liquidation of claims against the First National Bank of West Alexandria was painted today by E. Fouts, assistant supervising receiver of the insolvent banks division of the treasury department. A dividend of 50 per cent or about five times the average per cent in the first payment of an insolvent bank, was just paid by the West Alexandria institution, Fouts said. He predicted that another substantial dividend would be declared soon. assets of the West Alexandia bank were in good condition, despite the misappropriations of the cashier committed suicide," said Fouts. bank will, in my judgment, continue to make steady progress in wiping out the obligations." The honesty of people of West Alexandria and vicinity who owed the bank money was highly praised by Fouts. "All along we had great faith in the moral sense of the people of the section and felt that the bank's debtors would pay even if not under compulsion to do so." said Fouts. "They have vindicated our confidence in them and shown fine regard for honor by taking care of their notes." Whether will be possible to pay all of the claims of the bank not, Fouts did not know, but he declared that he was very optimistic about the whole situation in West Alexandria. "Usually the first payment is not made as soon as this was made and it is practically never more than 10 or 20 per cent." he said. Fouts called attention to the fact that the bank suspended on March 12 and that in four months time it had paid 50 per cent dividend instead of waiting six months or year to pay fifth of that amount, as is often true in such cases. Treasury department officials were of the opinion that the bank was not as seriously affected by the misappropriations as was thought at the time.

7. September 6, 1929 The Journal News Hamilton, OH
Article from The Journal News, September 6, 1929

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Article Text

BANK RECEIVER SEEKS RECOVERY ON NOTES Eaton, Sept. 6-Three suits to recover on notes have been filed in Preble county common pleas court by Charles H. Draper, receiver for First National bank, West Alexandria, the notes aggregating $2,595.10 Thomas J. Stowart is named defen dant to ono suit, in which Drope: seeks to recover $248 on & note re. ported held by the bank. Another suit for $1,151.55 is against Truman Stewart and Thomas J. Stewart, and asks judgment for $1,195.55.

8. March 27, 1930 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, March 27, 1930

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Article Text

# FOILS BANK ROBBERS West Alexandria, O.- There is a sure way to frustrate bank robbers. Two gunmen invaded the First National here and were amazed that they caused no excitement. The receiver showed the robbers the empty vaults, and said the bank had been brake a year. Off they went.

9. May 20, 1930 The Daily Advocate Greenville, OH
Article from The Daily Advocate, May 20, 1930

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Article Text

Alex Bank Receiver Seeks $1,600 Judgment Eaton, May judgment of $1600 asked in court here, by Charles Draper, receiver of the First National bank at West Alexandria, who offers note of $1500 as evidence which is said be overdue, given by Herman Kramer. Another suit filed by the same plaintiff is against Elizabeth Moening and involves note for $500 secured by mortgage on three lots the village Lexington.

10. May 22, 1930 The Journal News Hamilton, OH
Article from The Journal News, May 22, 1930

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Article Text

BANK RECEIVER FILES SUITS FOR JUDGMENTS Eaton, O., May 22. Two suils in which judgments are sought have been filed in Preble county common plens court by Charles H. Draper, as receiver for the First National bank of West Alexandria. Herman Kramer in named defendant in one nation which he sucks a $1,000 judgment, while Elizabeth Meening is named defendant in the other aution which asks a judgment for $500.

11. July 17, 1930 Dayton Daily News Dayton, OH
Article from Dayton Daily News, July 17, 1930

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Article Text

SETTLEMENT MADE IN BANK LITIGATION EATON, July compromise settlement has been effected the suit of the now defunct First National bank of West Alexandria, which brought by receiver, Charles Draper, the estate of the late Sherman Mills, former It shown that the deceased official had carried two insurance policies totaling made payable to

12. November 12, 1930 The Dayton Herald Dayton, OH
Article from The Dayton Herald, November 12, 1930

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Article Text

SUITS ARE FILED BY BANK RECEIVER EATON, Nov. 12.-The First National bank at West Alexandria, through its receiver, Charles H Draper, has filed suits on notes against Charles Eakle for $250; against Joe Eakle for $600, and against Charles and Joe Eakle for $555.

13. January 16, 1931 The Richmond Item Richmond, IN

Article Text

Bank Receiver is Plaintiff in Suit Against Directors WEST ALEXANDRIA, been filed the federal court Dayton by Charles Draper, receiver for the First tional bank West against the former board of directors the defunct bank who alive at this time and against estates the the board (Continued On Page Six)

14. March 18, 1933 The Indianapolis Star Indianapolis, IN

Article Text

Receiver for Ohio Bank Dies; Distributed 90 Pct. [Special to The Indianapolis Star.] RICHMOND Ind. March Griffin 67 ceiver for the defunct First Na tional bank of West Alexandria, O. died shot through the and His where body was taken Ninety of the claims against the bank had been paid. No reason was assigned for the deed.

15. March 18, 1933 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, March 18, 1933

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Article Text

# BANKER ENDS HIS LIFE Receiver Kills Self at Richmond; Claims Almost All Paid. By United Press RICHMOND, Ind., March 18.- Griffin Rensman, 67, Eaton, O., receiver for the defunct First National bank of West Alexandria, O., committed suicide Friday by shooting himself through the head. He died in a Richmond hospital. Ninety per cent of the claims against the bank were paid.

16. March 18, 1933 The Times Hammond, IN

Article Text

BANK RECEIVER ENDS LIFE March Rensman, O., for the defunct First National Bank of West Alexandria, O., committed suicide by himself through the head. He hospital. Ninety per cent against the bank were paid.

17. July 15, 1933 The Daily Advocate Greenville, OH

Article Text

BANK WILL PAY FINAL DIVIDEND Defunct West Alexandria Institution Able to Pay 96.31 Per Cent All Payment Slated Next Week. West Alexandria, Ohio, July Albert Reese, of, Wilmington, receiver of the First National Bank West Alexandria, announced late yesterday that final dividend of per cent has been declared by the comptroller of the currency, payable to all depositors and creditors who have proven their claims. The receiver will at the banking rooms in this city, Wednesday and Thursday of next week, July 19 and 20 from to prepared to deliver dividend checks to those who surrender their receivers' certificates of proof of claim upon payment final dividend. The final disbursement of 6.31 per cent will make total disbursement of 96.31 per cent to depositors since the bank suspended business, March 12, 1929.