First National Bank (Shawano, WI)

Episode Information

Episode UID
546901599
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
54690 national
Charter Number
5469
Start Date
March 6, 1933
Location
Shawano, Wisconsin

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
eefbc7069ba71749

Response Measures

None

Receivership Details

Depositor recovery rate
3.0%
Date receivership started
1933-10-26
Date receivership terminated
1935-01-03
Share of assets assessed as good
59.0%
Share of assets assessed as doubtful
58.3%
Share of assets assessed as worthless
12.2%

Description

Federal/state bank holiday in March 1933 preceded later receivership in October 1933.

Events (6)

1. June 29, 1900 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Nationwide/state bank holiday and temporary suspension of banking business following March 1933 banking crisis.
Newspaper Excerpt
the fourteen day bank holiday proclaimed by Gov. R. G. Schmedeman remains in effect.
Source
newspapers
3. October 26, 1933 Receivership
Source
historical_nic
4. October 26, 1933 Receivership
Newspaper Excerpt
VAN VONDEREN IS NAMED SHAWANO BANK RECEIVER ... appointment of E. Van Vonderen, Green Bay receiver of the First National bank at Shawano, announced today the comptroller ... bank ... is liquidated.
Source
newspapers
5. January 3, 1935 Restored To Solvency
Source
historical_nic
6. February 27, 1935 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article Text

EVERY STATE JOINS IN MOVE TO SAVE BANKS Take Holiday or Impose Restrictions. Wilmington, Del., March 4.—(AP)—Delaware, the last of the nation's 48 states not under some form of banking restriction, declared a bank holiday tonight, effective Monday and continuing "until further notice." Harold W. Horsey, state banking commissioner, said Gov. C. Douglas Buck had directed him to notify all banks in the state as follows: "Not because of anything that has occurred in Delaware, nor any condition existing here, but wholly because of the action of practically all the other states in declaring a bank holiday and the observance thereof by the Federal Reserve bank, this bringing about a temporary suspension of banking business over the country, I am left with no alternative but to take action to protect Delaware banks and their depositors." Wisconsin Plans Reopening. Milwaukee, Wis., March 4.—[Special.]—Banks of this city and Wisconsin are making plans to reopen next week, but on what day had not been determined tonight. In Madison, Banking Commissioner Arthur C. Kingston said that a plan has been devised for reopening Wisconsin banks Monday morning, although he withheld details of the plan pending an expected announcement from President Roosevelt at Washington on the banking situation. On the other hand, Walter Kasten, president of the First Wisconsin National bank, and also a member of a committee appointed by the Milwaukee Clearing House association to work out a plan, said the Milwaukee banks will not reopen until Wednesday at the earliest, and then probably will operate under a scrip plan similar to that used in 1907. In the meantime the fourteen day bank holiday proclaimed by Gov. R. G. Schmedeman remains in effect. No Holiday in Indiana. Indianapolis, Ind., March 4.—[Special.]—Indiana banks, under the new bank code law recently rushed through the state legislature, have the power to limit withdrawals to one-tenth of 1 per cent. Therefore, no state-wide bank moratorium will be declared in Indiana Gov. Paul V. McNutt today informed state officials from Washington, where he attended the inauguration. Indianapolis banks today continued to pay 5 per cent on both savings and checking accounts, and 100 per cent on deposits made since they declared a 5 per cent withdrawal limitation last Monday. A few upstate banks have limited withdrawals to 2 per cent. Plan Michigan Reopening. Detroit, Mich., March 4.—[Special.]—There was an easing up of banking anxieties in Detroit because of the action of the state legislature on relief bills which are scheduled to be passed on Monday. They should become laws not later than next Saturday and thereby permit banks to re-open and permit another withdrawal of funds in amounts yet to be decided upon. Operations in Detroit will be immediately resumed by the First National bank and the Guardian National Bank of Commerce. Iowa Proclaims Holiday. Des Moines, Ia., March 4.—[Special.]—Lieut. Gov. N. G. Kraschel today ordered a banking moratorium effective at once. In his proclamation the lieutenant governor set no definite time, declaring only "a temporary banking holiday mandatory for all Iowa banks, savings banks and


Article Text

VAN VONDEREN IS NAMED SHAWANO BANK RECEIVER Appointment of E. Van Vonderen, Green receiver the First National bank at Shawano, announced today the comptroller of the Washington. taken mean the bank, which has been operating under since the national bank holiday last spring, is liquidated. Neither Anton Kuckuk, the conservator, nor Mr. Van Vonderen have received any details. Green Bay man planned go to Shawano this afternoon and investigate the situation not yet formally accepted the commission as receiver, stated.