First National Bank - Jefferson City, MO

Episode Information

Episode UID: 180901586
Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 18090 national
Charter Number: 1809
Start Date: February 18, 1932
Location: Jefferson City, Missouri (38.577, -92.174)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: dc24a1d0e0bfcccd

Response Measures

None

Receivership Details

Depositor recovery rate: 63.2%
Date receivership started: 1933-08-10
Share of assets assessed as doubtful: 49.7%
Share of assets assessed as worthless: 50.3%

Events (4)

1. April 8, 1871 Chartered

Source: historical_nic

2. February 18, 1932 Suspension

Cause: Voluntary Liquidation
Cause Details: One-week banking holiday declared to effect a merger with Exchange National Bank to 'save itself'.
Newspaper Excerpt: A banking holiday was also inaugurated at Jefferson City a few days ago when the First National announced that in order to save itself a merger would be effected with the Exchange National Bank of that city. A week's banking holiday was therefore declared
Source: newspapers

3. March 28, 1932 Voluntary Liquidation

Source: historical_nic

4. August 10, 1933 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 18, 1932 The Missourian Harrisonville, MO

Article Text

CLINTON IS WITHOUT A BANKING HOUSE Faris Closed Bank for Week to Give People Time to Decide if They Want a Bank. Following a run on the Brinkerhoff-Faris bank in Clinton that institution was closed for a week as a matter of self protection. The president of the bank, H. P. Faris, who is one of the wealthiest men in this section of the state, is said to have told the people that if they didn't want a bank in Clinton he didn't care, so he closed the institution for a week in order for them to "make up their minds." Mr. Faris has long been a figure in Western Missouri and was the prohibition party's candidate for president a few years ago. The bank has been known for years as one of the strongest financial institutions in the state. The run made on the bank was said to have been uncalled for and resulted from the jumpy nerves of depositors following the closing a few days ago of the other bank there. A banking holiday was also inaugurated at Jefferson City a few days ago when the First National announced that in order to save itself a merger would be effected with the Exchange National Bank of that city. A week's banking holiday was therefore declared during which time much of the banking business of Jefferson City is being done through the state treasurer's office. Similar banking troubles have also occurred at Sedalia. Another of that city's banks failed to open for business Monday morning. Cass county banks have indeed been fortunate as well as the depositors, for not a single bank has closed in Cass county because of the financial stress through which we have been passing during the last few years. The Strasburg bank which closed a few months ago bears considerable evidence that it was wrecked from the inside. If we know anything about banks at all Harrisonville's two institutions, the Allen Banking Company and The Citizens National Bank are in splendid condition and can weather a storm much worse than the one through which we are now passing. For all of which all of us should be mighty thankful. We of a county like Cass can't begin to realize what the solidity of our banks mean to us because we have not recently passed through a bank failing period as some other counties are experiencing. Over at Sedalia we are told restrictions have been put on check writing regardless of the size of the deposit checked against, which works a great inconvenience but which is an act of self preservation. Here in Cass no restrictions whatever have been inaugurated.