22497. Northern National Bank (Ashland, WI)

View Charter #3607 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3607
Charter Number
3607
Start Date
January 17, 1933
Location
Ashland, Wisconsin (46.592, -90.884)

Metadata

Model
gpt-5-mini
Short Digest
9588539a

Response Measures

None

Receivership Details

Depositor recovery rate
66.5%
Date receivership started
1933-02-13
Share of assets assessed as good
11.5%
Share of assets assessed as doubtful
80.9%
Share of assets assessed as worthless
7.6%

Description

Multiple contemporaneous newspaper reports (Jan 18-19, 1933) state the Northern National Bank of Ashland was closed by its board of directors and placed in charge of a federal bank examiner pending reorganization. No explicit depositor run is described and no reopening is reported, so classified as a suspension leading to closure.

Events (3)
1. December 21, 1886 Chartered
Source
historical_nic
2. January 17, 1933 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed by board of directors and placed in charge of federal bank examiner; closed pending reorganization (bank-specific distress).
Newspaper Excerpt
Officials of the Northern National bank said yesterday that the institution, now in the charge of federal bank examiner, was closed pending reorganization.
Source
newspapers
3. February 13, 1933 Receivership
Source
historical_nic

Newspaper Articles (4)
1. January 18, 1933 The Oshkosh Northwestern Oshkosh, WI
Article from The Oshkosh Northwestern, January 18, 1933

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Article Text

BANKS AT ASHLAND ARE CLOSED TODAY Ashland of Ashland without today Northern National bank was closed yesterday by its board of directors, and the Ashland National bank suspended business after Mayor M. E. Dillon proclamation for 30-day holiday The mayor's posted on the door of the Ashland Nationin for 30 during which the requirements con

2. January 19, 1933 Two Rivers Reporter Two Rivers, WI
Article from Two Rivers Reporter, January 19, 1933

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Article Text

Ashland Without Banking Service ASHLAND, Wis. City of Ashland was without banking service Wed. The Northern National Bank

3. January 19, 1933 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, January 19, 1933

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Article Text

BUSINESS HOLIDAY IS DECLARED IN ASHLAND Ashland was without banking service today. The Northern National bank was closed yesterday by its board of directors, and today the Ashland National bank suspended business after Mayor M. E. Dillon issued a proclamation for a thirty-day business The mayor's proclamation. posted on the door of the Ashland National read in part "I declare civic holiday or moratorium for thirty days during which business shall suspended except insofar as the requirements, convenience and needs of the community may proper. Officials of the Northern National bank said yesterday that the institution. now in the charge of federal bank examiner, was closed pending reorganization.

4. January 19, 1933 The Capital Times Madison, WI
Article from The Capital Times, January 19, 1933

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Article Text

Ashland Banks Closed In 30-Day City 'Holiday' ASHLAND, Wis.-(P)-The city of Ashland was without banking service today. The Northern National bank was closed Tuesday by its board of directors, and today the Ashland National bank suspended business after Mayor M. E. Dillon issued a proclamation for a 30-day business holiday. Read The Capital Times Want Ads