First National Bank (Peru, IN)

Episode Information

Episode UID
36301599
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
3630 national
Charter Number
363
Start Date
March 6, 1933
Location
Peru, Indiana (40.754, -86.069)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4babf18f0752f3ba

Response Measures

None

Receivership Details

Depositor recovery rate
85.3%
Date receivership started
1933-09-06
Date receivership terminated
1941-07-16
Share of assets assessed as good
28.7%
Share of assets assessed as doubtful
48.8%
Share of assets assessed as worthless
22.5%

Events (5)

1. April 5, 1864 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Institution operated on a restricted basis following the March 1933 bank holiday (federal/state banking holiday).
Newspaper Excerpt
operated on restricted basis since the bank holiday last March
Source
newspapers
3. September 6, 1933 Receivership
Source
historical_nic
4. September 6, 1933 Receivership
Newspaper Excerpt
Flynn of Logansport has ... receiver for the First National bank Peru, which ... The bank receivership ... restricted basis since the bank holiday last March
Source
newspapers
5. December 20, 1934 Other
Newspaper Excerpt
TO PAY 25 PCT. DIVIDEND ... Granting of a $200,000 loan by the Reconstruction Finance Corporation ... will enable the defunct First National bank here to pay an additional dividend
Source
newspapers

Newspaper Articles (7)

Article Text

BANK RECEIVER NAMED. PERU Flynn of Logansport has ceiver for the First National bank Peru, which deposits more than million The bank receivership the States of currency after being operated restricted basis since the bank holiday last March by Ed. the The bank was in 1864.


Article Text

FLYNN IS BANK RECEIVER Peru, Ind., Sept. (/P)-A. P. Flynn Logansport, been named receiver for the First National Bank of Peru. The bank has deposits of more than million dollars. The institution had been operating on stricted basis.


Article Text

FLYNN FILES REPORT WITH COURT PERU, Ind., May 4-A. P. Flynn of Logansport, receiver for the defunct First National Bank of Peru, has filed in Miami circuit court report on the receivership of the Farmers' State Bank of MI. ami. A withdrawal of the Peru bank as receiver 18 included. Judge Hal C. Phelps will name another


Article Text

TO PAY 25 PCT. DIVIDEND PERU, Ind., Dec. 20.β€”(I.N.S.)β€”Granting of a $200,000 loan by the Reconstruction Finance Corporation and a rise in prices of securities will enable the defunct First National bank here to pay an additional dividend of between 25 and 30 per cent. Twenty-three per cent was paid to depositors last March by order of A. P. Flynn, receiver.


Article Text

Peru Bank Receiver Plans Many Suits PERU, Ind., March 29β€”Between five and six hundred suits against borrowers from the defunct First National bank may be filed soon by Receiver A. P. Flynn unless the people for whom notes are held do something toward making a settlement. The bank closed a year and a half ago and the people who may be sued have done nothing about their notes.


Article Text

Donations Announced To Miami Charities PERU, Ind., Sept. 25β€”A total of $74.40, old accounts and deposits that had been inactive in the First National bank, some of them for 20 years, has been donated to the Miami County Tuberculosis society by A. P. Flynn, bank receiver for their milk fund. The Psi Iota Xi sorority, of which Mrs. J. P. Crodian is president and Mrs. C. R. Herd, treasurer, has donated $35 to the milk fund sponsored by the society. The fund up to date consists of a total of $109.40. Mrs. Charlotte Welch, executive secretary, stated that the organization is very grateful for the contributions.


Article Text

Bank Receiver Pays $77,646 Dividends PERU, Ind. Dec. 23β€”A. P. Flynn, receiver for the First National Bank at Peru, has announced that Christmas cheer in the form of $77,646.47 cash distribution will be afforded 2,537 depositors of the institution the first of the week. This 10 per cent payment will increase to 65 per cent the amount that has been repaid.