Article Text
BANK FAILURE. South Bend, WW., August 12.-The First National Bank of South Bend suspended payment today. The officers say that the depositors will be paid in full.
First National Bank (South Bend, WA)
Episode Information
- Episode UID
446701148- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
44670national - Charter Number
- 4467
- Start Date
- August 12, 1895
- Location
- South Bend, Washington (46.663, -123.805)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
96db429b7b3a1f3c
Response Measures
None
Receivership Details
- Depositor recovery rate
- 35.0%
- Date receivership started
- 1895-08-17
- Date receivership terminated
- 1905-07-18
- OCC cause of failure
- Excessive lending
- Share of assets assessed as good
- 6.8%
- Share of assets assessed as doubtful
- 69.2%
- Share of assets assessed as worthless
- 24.0%
Events (6)
1.
November 15, 1890
Chartered
- Source
- historical_nic
2.
August 12, 1895
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Unable to furnish a satisfactory statement after being loaded with largely worthless paper and real-estate securities; prolonged withdrawals weakened liquidity.
- Newspaper Excerpt
- The First National Bank of South Bend suspended payment this morning.
- Source
- newspapers
3.
August 17, 1895
Receivership
- Source
- historical_nic
4.
August 17, 1895
Receivership
- Newspaper Excerpt
- The comptroller of the currency today appointed Joseph G. Helm receiver of the First National bank, South Bend, Wash., which suspended payment on August 12.
- Source
- newspapers
5.
May 17, 1896
Other
- Newspaper Excerpt
- A first dividend, 15 per cent, in favor of the creditors of the First National bank of South Bend, Wash., on claims proved amounting to $52,302.06.
- Source
- newspapers
6.
March 24, 1898
Other
- Newspaper Excerpt
- At an auction sale on Monday all assets of the suspended First National bank remaining uncollected were sold in a lump to A. A. Werley for $2,100.
- Source
- newspapers
Newspaper Articles (20)
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Article Text
SOUTH BEND, Wash.-The First National Bank of South Bend suspended payment this morning. The officers say depositors will be paid in full.
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Gone Under SOUTH BEND, Wash., Aug. 12.-The First National bank of South Bend suspended payment this morning. The oflicers say depositors will be paid in full.
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National Bank Suspends Payment. SOUTH BEND, Wash., Aug. 13.-The First National bank of this city has suspended payment. The officers say depositors will be paid in full.
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To Pay in Full. SOUTH BEND, Wash., Aug. 12.-The First National Bank of South Bend suspended payment this morning. The officers say depositors will be paid in full.
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SOUTH BEND'S BANK FAILURE. The Closing n Surprise, as the Institution Was in Good Standing. South Bend. Aug. 13.-Special.-The fallure yesterday of the First National Bank of South Bend was a complete surprise to every one. The last statement of the bank. published in May, showed an improvement in its financial condition. Times have improved greatly of late in the county and city, and It was generally supposed that the bank was prospering as well. Little blame is attached to the present management of the bank, but rather to the board of directors of three or four years ago, when It was loaded up with what has proved to be worthless paper and real estate securities upon which little could be realized. The bank bore the crisis of a year and a half ago bravely, which fact greatly increased public confidence in it. For over a month and a half there has been a constant withdrawal of deposits from the bank, not through lack of confidence, but for investment in new local enterprises and by merchants for the purchase of fall goods. Early in July the bank was called on for another statement and was not able to furnish a satisfactory one, which was the immediate cause of its suspension. It had nearly all of the county deposits. amounting to about $16,000, which is well secured to the county by the treasurer's bonds. The city had about $2,000 on deposit, also well secured. Pending the arrival of the bank examiner. who is expected tonight, the officers of the bank refused to talk concerning the condition further than to state that it will pay all depositors In full If the assets are properly managed. The general fear of stockholders and depositors is that some receivers will be sent here from Georgia or Texas who will be unacquainted with local conditions and sacrifice the securities. The officers of the bank are: President, R. H,
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South Bend Bank Suspended. South Bend, Wash., Aug. 12.-The First National bank of South Bend suspended payment this morning. The officers say the depositors will be paid in full.
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South Bend Bank Suspended. South Bend, Wash., Aug. 12.-The First National bank of South Bend suspended payment this morning. The officers say the depositors will be paid in full.
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South Bend Bank Suspended. South Bend, Wash., Aug. 12.-The First National bank of South Bend suspended payment this morning. The officers say the depositors will be paid in full.
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District Attorney Shelton. Washington, Aug. 17.-The comptroller of the treasury to-day appointed Joseph Helm receiver of the First National bank of South Bend, Wash., which suspended payment Aug. 12. George F. Shelton of Helena has been appointed assistant United States attorney for the district of Montana.
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APPOINTMENTS. WASHINGTON, Aug. 17.-The comptroller of the currency today appointed Joseph G. Helm receiver of the First National bank, South Bend, Wash., which suspended payment on August 12. George F. Shelton, of Helena, has been appointed assistant United States attorney for the district of Montana.
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"Will be Paid in Full." SOUTH BEND, Wash., Aug 14.-Th First National bank of South Ben suspended payment today. The offi cers say depositors will be paid in full
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Receiver Appointed. WASHINGTON, Aug. 17.-The comptroller of the currency today appointed Jos eph Heim receiver for the First National bank of South Bend, Wash., which sus. pended payment on August 12. George F. Shelton of Helena bas been appointed assistant United States attorney for the district of Montana.
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Bank Receiver Appointed. Washington, Aug. 17.-The comptroller of the currency today appointed Joseph H. Heim receiver of the First National bank of South Bend, Wash., which suspended payment August 12.
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Bank Receiver Appointed. Washington, Aug. 17.-The comptroller of the currency today appointed Joseph H. Heim receiver of the First National bank of South Bend, Wash., which suspended payment August 12.
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Bank Receiver Appointed. Washington, Aug. 17.-The comptroller of the currency today appointed Joseph H. Heim receiver of the First National bank of South Bend, Wash., which suspended payment August 12.
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Suspended Bank Dividends, Washington, May 17.-Comptroller els has declared dividends as follow first dividend, 15 per cent, in favor creditors of the First National ban South Bend, Wash., on claims P amounting to $52,302.06. A first divid 15 per cent, in favor of the creditos the Bellingham Bay National ban New Whatcom, Wash., on claims P amounting to $64,325.39.
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Suspended Bank Dividends. Washington, May 17.-Comptroller Eckels has declared dividends as follows: A first dividend, 15 per cent, in favor of the creditors of the First National bank of South Bend, Wash., on claims proved amounting to $52,302.06. A first dividend, 15 per cent, in favor of the creditors of the Bellingham Bay National bank of New Whatcom, Wash., on claims proved amounting to $64,325.20.
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Suspended Bank Dividends. Washington, May 17.-Comptroller Eckels has declared dividends as follows: A first dividend, 15 per cent, in favor of the creditors of the First National bank of South Bend, Wash., on claims proved amounting to $52,302.06. A first dividend, 15 per cent, in favor of the creditors of the Bellingham Bay National bank of New Whatcom, Wash., on claims proved amounting to $64,325.29.
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Suspended Bank's Assets Sold. Special Dispatch to the Post-Intelligencer. SOUTH BEND, March 24.- At an auction sale on Monday all assets of the suspended First National bank remaining uncollected were sold in a lump to A. A. Werley for $2,100. This is more than double what It was expected the sale would bring. The sale practically winds up the bank's affairs.