6213. Bozeman Waters First National Bank (Poseyville, IN)

View Charter #13503 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
13503
Charter Number
13503
Start Date
January 1, 1933*
Location
Poseyville, Indiana (38.170, -87.783)

Metadata

Model
gpt-5-mini
Short Digest
6a7d906f

Response Measures

None

Receivership Details

Depositor recovery rate
93.8%
Date receivership started
1932-01-20
Date receivership terminated
1937-02-27
Share of assets assessed as good
33.0%
Share of assets assessed as doubtful
65.7%
Share of assets assessed as worthless
1.2%

Description

Articles state the Bozeman Waters First National Bank was closed and in receivership (receiver arrested for embezzlement, successor appointed). No run or depositor agitation is mentioned. A dividend payment to depositors in Oct 1934 indicates liquidation/distribution under the receiver. Suspension date not specified in articles; closure and receivership in effect by Dec 1933.

Events (5)
1. November 14, 1930 Chartered
Source
historical_nic
2. January 20, 1932 Receivership
Source
historical_nic
3. January 1, 1933* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was closed and subsequently placed in receivership; later the receiver was arrested on federal embezzlement charges, indicating bank-specific adverse issues.
Newspaper Excerpt
closed Bozeman Waters First National bank of Poseyville
Source
newspapers
4. December 5, 1933 Receivership
Newspaper Excerpt
MT. Glenn, receiver for the closed Bozeman Waters First National bank of Poseyville, under arrest today on federal warrant charging embezzlement. George A. Bittler, Evansville, was appointed his successor. (The Vincennes Sun-Commercial, 1933-12-05)
Source
newspapers
5. October 25, 1934 Other
Newspaper Excerpt
A dividend of 35 per cent will be available to depositors of the closed Bozeman Waters First National bank, beginning Friday, Elmer W. Heitman, receiver, announces. Payments will be made on presentation of receiver's certificates at the bank. The payment will bring to a total of 60 per cent the amount paid to depositors since the bank's suspension, Heitman said. (Princeton Daily Clarion, 1934-10-25).
Source
newspapers

Newspaper Articles (2)
1. December 5, 1933 The Vincennes Sun-Commercial Vincennes, IN
Article from The Vincennes Sun-Commercial, December 5, 1933

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Article Text

BANK RECEIVER ARRESTED FOR EMBEZZLEMENT MT. Glenn, receiver for the closed Bozeman Waters First National bank of Poseyville, under arrest today on federal warrant charging embezzlement. George A. Bittler, Evansville, was appointed his successor. VISITORS IN CITY Mr. and Mrs. K. Miller, of the Chicago Beach hotel, were scheduled to arrive in Vincennes Tuesday for brief visit. Mrs. Miller is a sister of Jake Gimbel. WHAT HAVE TOU FOUND?-

2. October 25, 1934 Princeton Daily Clarion Princeton, IN
Article from Princeton Daily Clarion, October 25, 1934

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Article Text

BANK TO PAY DIVIDEND POSEYVILLE Ind.. Oct. 25.-A dividend of 35 per cent will be available to depositors of the closed BozemanWaters First National bank, beginning Friday, Elmer W. Heitman, receiver. announces. Payments will be made on presentation of receiver's certificates at the bank The payment will bring to a total of 60 per cent the amount paid to depositors since the bank's suspension, Heitman said.