American First National Bank (Mount Carmel, IL)

View Charter #5782 on SPMC View balance sheet

Episode Information

Episode UID
578201613
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
57820 national
Charter Number
5782
Start Date
May 31, 1934
Location
Mount Carmel, Illinois (38.411, -87.761)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e0842ab48f4f111b

Response Measures

None

Receivership Details

Depositor recovery rate
50.0%
Date receivership started
1934-05-31
Share of assets assessed as good
38.1%
Share of assets assessed as doubtful
55.4%
Share of assets assessed as worthless
6.5%

Description

Receiver named June 1934; bank had been under a conservator during the banking moratorium.

Events (3)
1. April 18, 1901 Chartered
Source
historical_nic
2. May 31, 1934 Receivership
Source
historical_nic
3. May 31, 1934 Receivership
Newspaper Excerpt
was named receiver for the American First National Bank here
Source
newspapers

Newspaper Articles (5)
1. June 2, 1934 St. Louis Globe-Democrat St. Louis, MO

Article Text

CHILDREN'S BUILDING IN 'DEPLORABLE SHAPE' Grand Jury Report Criticises Conditions of Public Structure. The Children's Building, Fourteenth street and Clark avenue, where boys and girls are detained by the Court or for protection, is in deplorable shape" and no effort made to clean the April term grand jury stated in final report to Circuit Judge Hogan yesterday. "This condition due largely to the fact of insufficient janitor service, the building having no janitor of its own, but using part of the time of the janitor attached the City Morgue,' the report set out. "A full-time janitor should be assigned to this building without delay to clean up the building and keep clean." The building is generally dirty, windows unclean, toilets are torn and there are cockroaches and other vermin in the the report said. For lack of funds inmates of the Children's Building do not have sufficient and proper clothing, the grand jury found. "As we find the building is capably and we most highly the conduct of the Juvenile Court by the Circuit Judge (Judge Hoffmeister) assigned to this division," the report set out. Summer Schedule Effective. The schedule of services Trinity Methodist Church, North Thirteenth Tyler streets, will inaugurated with Sunday school and preaching service Rev. Ross W. Adair, the pastor, also will conduct services each Sunday at the Goodwill Children's Summer Camp, Woodson road and St. Charles road. Bank Receiver Named. By Associated Press. MOUNT CARMEL ILL, June Wright of Newton, III., day was named receiver for the American First National Bank here, under conservator since the banking moratorium. corner on pockets while they themselves had to pack all their belongings into one little handbag, will be delighted this year's style lots of pockets on tailored clothes for women. Here jacket that exemplifies the note. While they of course, decorative, they are also very useful. The jacket trimly tailored model with an inverted pleat the back under the shoulder yoke. The skirt has panel back and pleat at the left side. Both are linenblue with bright navy skirt. Vogue Designs: Jacket No. 6677, Skirt No. 6681.

2. June 7, 1934 Herald and Review Decatur, IL

Article Text

Newton Man Is Bank Receiver in Mt. Carmel By Staff NEWTON Thomas C. Wright of Newton has been appointed receiver the Mt. Carmel American First National bank. He succeeds Ben H. Stansfield. conservator for the last 14 months. Mr. Wright will begin liquidation of the bank's assets as soon as they are taken over from Mr. Stansfield.

3. September 12, 1935 The Belleville News-Democrat Belleville, IL

Article Text

MOUNT CARMEL BANK RECEIVER SUIT DELAYED Court Officer Sues Former President for $40,000 on Assessment. At the request of P. J. Kolb, Mt. Carmel attorney representing John M. Mitchell, former president of the American First National Bank, the civil suit of Thomas C. Wright, the bank's receiver against Mitchell will not be set for hearing in Federal Court in East St. Louis before November county clerks announced today. Wright is suing Mitchell for a $40,000 assessment on 400 shares of stock Mitchell allegedly sold to A. Murray Griffin St. Louis representative of the Standard Life Insurance Company, while Mitchell allegedly knew the bank was insolvent. Mitchell, in an answer filed August 9, denies that he surrendered the stock November 19, 1932, to the bank, and he denies that the stock, issued to Griffin, was not receipted by Griffin.

4. September 14, 1935 Evansville Courier and Press Evansville, IN

Article Text

DELAY SUIT AGAINST EX-BANK PRESIDENT MT. CARMEL, Ill., Sept. 13.—(Special)—At the request of counsel representing John M. Mitchell, former president of the American-First National bank of Mt. Carmel, the civil suit of Thomas C. Wright, the bank's receiver, against Mitchell will not be set for hearing in federal court at East St. Louis, Ill., before November. Wright is suing Mitchell for a $10,000 assessment on 400 shares of stock Mitchell allegedly sold to A. Murray Griffin, St. Louis representative of the Standard Life Insurance company, while Mitchell allegedly knew the bank was insolvent. In addition to the $10,000, the receiver asks interest on the amount from September 6, 1934.

5. September 14, 1935 Evansville Courier and Press Evansville, IN

Article Text

EX-BANK PRESIDENT MT. CARMEL, Ill., Sept. 13.—(Special)—At the request of counsel representing John M. Mitchell, former president of the American-First National bank of Mt. Carmel, the civil suit of Thomas C. Wright, the bank's receiver, against Mitchell will not be set for hearing in federal court at East St. Louis, Ill., before November. Wright is suing Mitchell for a $10,000 assessment on 400 shares of stock Mitchell allegedly sold to A. Murray Griffin, St. Louis representative of the Standard Life Insurance company, while Mitchell allegedly knew the bank was insolvent. In addition to the $10,000, the receiver asks interest on the amount from September 6, 1934.