First National Bank (Aledo, IL)

View Charter #7145 on SPMC View balance sheet

Episode Information

Episode UID
714501545
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
71450 national
Charter Number
7145
Start Date
September 27, 1928
Location
Aledo, Illinois (41.200, -90.749)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d002dad89bb6ffdc

Response Measures

None

Receivership Details

Depositor recovery rate
65.6%
Date receivership started
1928-09-27
Date receivership terminated
1936-08-29
OCC cause of failure
Governance
Share of assets assessed as good
68.3%
Share of assets assessed as doubtful
15.9%
Share of assets assessed as worthless
15.8%

Description

Used known receivership date (1928-09-27) as authoritative; articles describe post-closure dividend payments.

Events (4)
1. February 20, 1904 Chartered
Source
historical_nic
2. September 27, 1928 Receivership
Source
historical_nic
3. September 27, 1928 Receivership
Newspaper Excerpt
Clark M. Warfield is receiver for the bank.
Source
newspapers
4. September 27, 1928 Suspension
Cause
Government Action
Cause Details
Bank suspended business and was placed in receivership under the comptroller/receiver
Newspaper Excerpt
the bank suspended business in September 1928
Source
newspapers

Newspaper Articles (2)
1. October 10, 1929 The Daily Times Davenport, IA
Article from The Daily Times, October 10, 1929

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Article Text

Aledo Bank Will Pay Dividend of $85,878 Friday ALEDO, III., Oct. 10.-(Special) Distribution of 1,171 checks totaling will start tomorrow at the closed First National bank of Aledo. This sum covers the second 20 per cent dividend since the bank suspended business in September 1928. Of this amount covers the second dividend to all depositors who have proven their claims and $1,111.93 is a first dividend to depositors who had not proved their claims up to the time the first dividend was declared. The checks for the dividend were received yesterday from the comptroller of currency at Washington, D. C. The first dividend of $83,650.42 was declared Feb. 27 last. Clark M. Warfield is receiver for the bank.

2. October 16, 1930 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, October 16, 1930

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Article Text

SETTLEMENT MADE BY ALEDO BANK RECEIVER Total of $210,025 Paid Since Doors of Defunct Institution Were Closed in 1928. (Special to The Argus.) Aledo, III., Oct. settlement of affairs at the First National bank of Aledo is progressing. according to the quarterly statement announced yesterday by Clark N. Warfield, receiver. Total dividends of $210,025.85 have been paid since the doors were closed in September. 1928. Following statement of the bank's condition Sept. 30: Assets: Bills receivable Cash on hand 11,405.40 Assets other than bills receivable and cash on hand 64,392.12 Additional quired 1,745.40 Stock assessments 50,000.00 Total of all assets coming into hand of receiver Remaining assets uncollected: Bills receivable Assets other than bills receivable 55,551.92 Additional assets asquired 20.90 Stock assessments 16,071.27 Total assets uncollected $275,630.00 Liabilities: Total claims proven on unsecured liabilities. Total unproven, unsecured claims 4,113.36 secured liabilities Total outstanding unpaid none Total rediscounts unpaid none Total bills payable paid none Total additional libabili526.75 ties proven Total of all liabilities $425,890.29 Dividends. paid during quarter 42,576.07 this Dividends paid prior to this 167,449.75 Total dividends paid date $210,025.85 Cash hand 24,166.60 on