813. First National Bank (Kingsburg, CA)

View Charter #8409 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8409
Charter Number
8409
Start Date
January 1, 1929*
Location
Kingsburg, California (36.514, -119.554)

Metadata

Model
gpt-5-mini
Short Digest
1a049170

Response Measures

None

Receivership Details

Depositor recovery rate
52.0%
Date receivership started
1926-11-09
Date receivership terminated
1931-03-31
OCC cause of failure
Governance
Share of assets assessed as good
40.8%
Share of assets assessed as doubtful
37.8%
Share of assets assessed as worthless
21.4%

Description

The First National Bank of Kingsburg closed its doors (circa 1929), a receiver was appointed (filed 1930-03-08), and final distributions to depositors were made in Jan 1931. There is no clear description of a depositor run causing the closure; the bank was placed in receivership and remained closed.

Events (5)
1. October 18, 1906 Chartered
Source
historical_nic
2. November 9, 1926 Receivership
Source
historical_nic
3. January 1, 1929* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed (insolvency/failure) around 1929; article refers to the institution as closed and later in receivership but gives no specific rumor trigger.
Newspaper Excerpt
which closed its doors here about two years ago.
Source
newspapers
4. March 8, 1930 Receivership
Newspaper Excerpt
An order appointing Charles for the First tional Bank of closed filed ... Newhall for First National Bank of Kingsburg.
Source
newspapers
5. January 6, 1931 Other
Newspaper Excerpt
A large number of residents ... received the final payment to them as depositors of the First National Bank, which closed its doors here about two years ago. The final payment was about seven cents on the dollar and brought total payments to 52 per cent of the deposits. ... C. K. Newhall of Dinuba, receiver for the closed institution, made the payments at the Kingsburg Bank, starting at 10 a. m.
Source
newspapers

Newspaper Articles (2)
1. March 8, 1930 The Fresno Bee Fresno, CA
Article from The Fresno Bee, March 8, 1930

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Article Text

Newhall Appointment As Bank Receiver Filed An order appointing Charles for the First tional Bank of closed filed for the United States Department in the office of the counrecorder here to-day. Newhall for First National Bank of Kingsburg.

2. January 8, 1931 The Kingsburg Recorder Kingsburg, CA
Article from The Kingsburg Recorder, January 8, 1931

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Article Text

National Bank Depositors Paid A large number of residents of Kingsburg and the surrounding community on Tuesday received the final payment to them as depositors of the First National Bank, which closed its doors here about two years ago. Payments will continue through Saturday. The final payment was about seven cents on the dollar and brought total payments to 52 per cent of the deposits. The amount thus distributed to people of this community amounted to $20,000. C. K. Newhall of Dinuba, receiver for the closed institution. made the payments at the Kingsburg Bank, starting at 10 a. m. To any one who did know what was going on, the presence of such a large number of persons in the bank at one time could have meant most anything from an accident to a "run on the bank."