Hammond National Bank & Trust Company (Hammond, IN)

View Charter #8199 on SPMC View balance sheet

Episode Information

Episode UID
819901574
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
81990 national
Charter Number
8199
Start Date
February 2, 1931
Location
Hammond, Indiana (41.583, -87.500)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4f3e3025f157e226

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health

Receivership Details

Depositor recovery rate
47.5%
Date receivership started
1932-01-18
Share of assets assessed as good
22.1%
Share of assets assessed as doubtful
77.9%

Description

A heavy withdrawal episode in Feb 1931 preceded the bank's failure and receivership in Jan 1932.

Events (5)
1. May 2, 1906 Chartered
Source
historical_nic
2. February 2, 1931 Run
Cause
Local Banks
Cause Details
Withdrawals at Hammond followed the closing/run on the First Trust and Calumet City State Bank, prompting heavy withdrawals from Hammond customers.
Measures
Ordered shipments/deliveries of currency from Chicago (delivery of $250,000 at noon) to meet withdrawals.
Newspaper Excerpt
Our bank is in sound condition and will weather this storm, Mr. Tapper said at noon.
Source
newspapers
3. January 2, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed the bank due to failure/insolvency pressures leading to suspension of operations.
Newspaper Excerpt
The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed.
Source
newspapers
4. January 18, 1932 Receivership
Source
historical_nic
5. January 18, 1932 Receivership
Newspaper Excerpt
receiver, George J. Nattkemper, appointed (receiver references throughout 1932 articles).
Source
newspapers

Newspaper Articles (23)
1. February 2, 1931 The Times Hammond, IN

Article Text

STATE BANK EXAMINER IS PLACED IN CHARGE Calumet City State Bank Closes After Run Is Started This Morning The First Trust and Savings bank, of Hammond, closed its doors this morning pending an examination by representatives of the state banking commissioner. This action was voted yesterday at a special meeting of the board of directors. Following the closing of the First Trust, which is expected to be temthe Calumet City State bank, the only bank in this Illinois suburb its funds were on deposit in the First Trust. John Carroll, cashier of the Calumet City State bank. told The Times that representative of the auditor of public accounts of IIIIexpected to charge of bank today, probably operate Indiana banking thorities in working out the uation. President of City bank of Calumet City and former Cook (III.) bank capitalized sources the only bank at Calumet City. Withdrawals mond banks diately of the closing of the Trust current. In order prepared for the emercalls to Chicago and these promptly met. President H. Tapper and other officials of the Hammond bank no cause alarm in spite of the withdrawals from their accounts. "Our bank in sound condition this storm," Mr. Tapper at noon. "We had an immediate of currency from Chicago dent banks back People not to this situation which demands thought.' Louis vice president of Hammond said this morning's situation broke without warning but found his bank well prepared ready cash to meet depositors' demands and furof money shipther ments from Chicago reserves were ordered at once. DIRECTORS OPTIMISTIC Available the reinforced by delivery of $250,000 at noon. This sufficient to tide over the than Similar expressions of optimism the situation by William Leo Dr. Ostrowski G. Paxton, diO. rectors of the Hammond National. pointed out that most of the It visiting the had small people accounts and the total be great as might be would not expected from size of the crowd. In fact who waited line for time, stepped home they realized that being made the could handle NOT TO ON BANK Withdra from the First Trust and which had were due to resources needs of depositors and pressing not to on the bank, according to President Peter W. Meyn. Thomas D. Barr, chief state bank (Continued on Page Six)

2. February 2, 1931 The Times Hammond, IN

Article Text

IS PLACED IN CHARGE The bank is capitalized has resources $500,000. the only Calumet from other Hammond banks heavy immediately of the closing of the First Trust In order to be for the emergency, cash were sent to Chicago and these were promptly met. President A. H. Tapper and other officials the National bank no cause for alarm in spite of the withdrawals from their "Our is in sound condition and this storm," said Mr. Tapper at "We had an immediate of currency from Chicago dent banks stand back of People should not allow to become this situation which demands thought." Louis Klitzke, vice president of the Hammond National, said this morning's situation without warning but it his bank well prepared to meet depositors' further of shipments from Chicago were ordered once. DIRECTORS OPTIMISTIC Available the bank reinforced by delivery $250,000 at noon. This was considered more than sufficient to tide over the emergency. Similar expressions of optimism the situation made by William Ahlborn, Leo Wolf, Dr. R. and G. Paxton, diO. of the National. It pointed out that of the people the bank had small accounts and the total withdrawals would not great might the size the expected from crowd. fact many persons waited in line time, stepped and returned when realized that being the clerks could handle NOT TO ON BANK Withdrawals the First Trust and bank, which had resources of were due to pressing needs of depositors and on the bank, accordnot to to President Peter W. Meyn. ing Thomas D. Barr, chief state bank (Continued on Page Six)

3. February 2, 1931 The Times Hammond, IN

Article Text

STATE BANK EXAMINER IS PLACED IN CHARGE Calumet City State Bank Closes After Run Is Started This Morning The First Trust and Savings bank, of Hammond, closed its doors this morning pending an examination by representatives of the state banking commissioner. This action was voted yesterday at a special meeting of the board of directors. Following the closing of the First Trust, expected to be temporary, the Calumet City State bank, the bank in this Illinois suburb also closed, since some its funds were on deposit in the First Trust. John Carroll, cashier of the Calumet City State bank, told The Times that the auditor of public accounts of IIIInois was expected to take charge of bank today, and probably operate Indiana thorities in working out the situation. PRESIDENT President of the Calumet bank John mayor of Calumet City and former Cook county, The sources of $500,000. is the only bank at Calumet City. from other Hammond banks became heavy immediately after of the closing of the First In order be for the gency, were sent to Chicago and these were promptly met. President A. Tapper and other officials of the National bank saw no alarm in spite of the withdrawals from their "Our bank is in sound condition and will weather this storm," Mr. Tapper at noon. an immediate delivery of currency from Chicago and our dent banks stand back of us. People should not to this situation which Louis Klitzke, president of the National, morning's situation without warning but found his bank well prepared with ready cash to meet depositors' demands as further measure of safety, money shipments from Chicago reserves were ordered at once. DIRECTORS OPTIMISTIC Available of the bank was reinforced by delivery of $250,000 at noon. This sufficient to tide over the than emergency. Similar expressions of optimism the situation made by William Ahlborn, Leo Wolf, Dr. R. Ostrowski G. diO. rectors of the Hammond National. It pointed out that most of the visiting the bank had small people accounts and the total be great as might be would not from of the expected crowd. fact many persons waited in line time, they realized that being made the clerks as could NOT TO ON BANK First Trust and Savings bank, which had resources of $9,400,000, were due to needs of depositors and pressing not to on the bank, according to President Peter W. Meyn. Thomas D. Barr, chief state bank (Continued on Page Six)

4. April 4, 1931 The Times Hammond, IN

Article Text

BOOSTS HAMMOND BANK & TRUST BUSINESS ACQUIRES Hammond Unemployment Body Swarms Before Trustee DEPOSITS ALLEGED Will R. Wood Continues to Stick By Lake County OF PEOPLES TEMPERATURE RED HELD Rockne Air Enthusiast DEPOSITORS' HOPES HINGE READS OF BODY FOR REGION POPULAR STATE BANK FOUND IN LAKE; BY POLICE ON BANK DECISION MONDAY LAWMAKER YESTERDAY County Commisioner Investigates the Case of John Hopkins Frank alleged by Trustee Myrtle last Lund for This Ando refused have angered alleged parents of Ando's wife, been Meara's fice. arrested yesterday after he Inflammathe Unemployment been resident this country only seven years and citizen. Meeting at 121 State street, Hammond, to voice their complaints against the office of North Township Trustee Myrtle Meara, about 85 members of Council of Hammond yesterday aired alleged grievances for several hours. One the chief complainants John Hopkins, 26 Douglas street, Hammond, the whose township poor relief case fully investigated this week Charles Gary. According Mr. Baran's investiHopkins receives township aid for himself, his wife, and an adopted at the rate His and daughter, who live with him and his wife, receive township aid at the Mr. Baran investigated the this tertaining and the latter's two from Detroit. IT DOING In other words, the township to two families living at the and was feeding Hopkins' relatives from Detroit. Mr. Baran asked Hopkins had against the relief, replied that he satisfied the butter, which he termed salty. And at the meeting yesterday, Hopkins voiced long list of grievances for the edification of the Unemployment Mrs. Meara pointed out this mornthat Hopkins and his family, including his and daugh(Continued from Puge Seven) Arrangements Between Two Institutions Consummated Today Providing stronger banking foundation Hammond, the Hammond National Bank and Trust company today aquired all the deposits of the new Peoples State bank of Hammond and thus boosted the deposits of the Hammond National approximately $3,000,000. The between two Institutions this morning after agreements had signed by the officers and directors both banks. The Hammond National bank now becomes one of the strongest institutions in this part of the state. listed the largest bank in township. PEOPLES DISCONTINUES marks the end begun about by the officers and directors of the Peoples State bank that inability their part to make satisfactory rangement for the completion their capital structure made It advisable to discontinue operations. A plan action then was agreed and after hours today, all the of the Peoples bank, sufficient its liquid assets to secure deposit liabilities, turned to the Hammond National Bank Trust company morning, officers the Hammond National Bank and will positors of the new Peoples State bank. They likewise have made rangements to honor checks drawn against accounts Peoples State pass books and check books will be these at once by the Hammond National. NO in changes the status of the Peoples Co-Operative State bank, ship. It involves only the new Peoples State bank, which acting receiver the old Co-Operative institution. The Peoples State bank, which is now by National, and to do on 11, 1930, and receiver the Peoples Co-OperaState The arrangement requires that the Peoples State bank be charged as and that Clyde appoint ceiver Monday morning carry the liquidation of the assets of the Peoples Co-Operative State bank. NEW RECEIVER MONDAY A receiver, is the report the Peoples State bank, liquidation from October 14, 1930, the present time, will be filed then. H. Sharpe, executive ident the Hammond National Bank and Trust company this morning said: "The officers directors of the Hammond National and Trust company public pleased to been of some help in this "Customers of the Peoples State bank be cordial interruption to their but with considerable augmented facilities at their "These times of mergers and consolidations in interest of the public quite much as for the benefit of business itself. We happy Peoples 'family' join family at this time." Donald Gavit, cashier the Peoples "We believe arrangements which made with the Hammond National Bank and Trust company only the best interests the depositors of the Peoples State bank, but for the best of the community as whole. "The directors of the Peoples State bank have utmost confithat their action in ring the deposit to the National Bank Trust company will meet with the approval of the Officers the Peoples State bank, will relinquish their positions the transfer today, are Stinson, Frank Mull, vicepresident; Ryan, vice president, and Donald E. Gavit, cashier. No transfer of employes from the Peoples the Hammond bank involved in the ment.

5. January 16, 1932 The Times Hammond, IN

Article Text

BANK REPORT AS TO OPENING PREMATURE No Definite Plans Perfected to Reopen State Bank of Hammond Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning. He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution. The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets. The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank. According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan. This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing. President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

6. January 16, 1932 The Times Hammond, IN

Article Text

BANK REPORT AS TO OPENING PREMATURE No Definite Plans Perfected to Reopen State Bank of Hammond Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning. He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution. The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets. The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank. According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan. This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing. President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

7. January 16, 1932 The Times Hammond, IN

Article Text

BANK REPORT AS TO OPENING PREMATURE No Definite Plans Perfected to Reopen State Bank of Hammond Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning. He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution. The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets. The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank. According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan. This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John L. Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing. President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

8. January 16, 1932 The Times Hammond, IN

Article Text

BANK REPORT AS TO OPENING PREMATURE No Definite Plans Perfected to Reopen State Bank of Hammond Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning. He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution. The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets. The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank. According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan. This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John L. Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing. President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

9. January 19, 1932 The Buffalo News Buffalo, NY

Article Text

BANKLESS CITY USES ANCIENT MONEY PLAN HAMMOND, Ind., Jan. 19 (AP).—An ambitious young bank teller, thrown out of a job by the closing of his bank, has reached back through the centuries for a method to furnish this bankless city with a financial house. He is Eddy Groth, who was employed in the closed Hammond National bank. Youth Groth, much like financiers of old, has set himself up as a money changer, cashing checks and changing money for fees, but keeping within the law by not actually accepting deposits. "We did $20,000 business the first day," he proudly relates. The townspeople's faith in Groth's system is evidenced by the names of prominent men on his directorate.

10. January 19, 1932 The Buffalo News Buffalo, NY

Article Text

BANKLESS CITY USES ANCIENT MONEY PLAN HAMMOND Ind., Jan 19 An young out of by the his bank reached back through furnish this bankless city with financial house He Eddy Groth who employed in the closed Hammond National Groth much like financiers of old has set himself up as cashing and changing money for fees but ing within the law by not actually "We did $20,000 business the first day. he proudly The townspeople's faith in Groth's evidenced by the of men on his director-

11. February 26, 1932 The Times Hammond, IN

Article Text

LOOMIS WAITS FOR ACTION BY BANK PATRONS Expresses Willingness to Go Into Hammond National Bank Investigation [SPECIAL TO THE TIMES] SOUTH BEND, Ind., Feb. 26.—No federal investigation will be made into the affairs of the defunct Hammond National Bank & Trust Co. until depositors formally file sufficient evidence to justify such an inquiry, United States District Attorney Oliver Loomis informed The Times this morning.

12. March 11, 1932 The Times Hammond, IN

Article Text

NEW TRAIL LEADS TO DETROIT Hammond National Bank Receiver in Statement DISCHARGES TEMPERATURE FOR REGION CROWN POINT CARPENTERS MERCHANT MACK CASE Quizzed for Kidnaping Clue

13. March 11, 1932 The Times Hammond, IN

Article Text

NEW TRAIL LEADS TO DETROIT Hammond National Bank Receiver in Statement TEMPERATURE FOR REGION Temperature in Hammond today was 19 degrees above zero at 7:30 a. m.—22 degrees above zero at noon. Weather fair at noon.

14. March 11, 1932 The Times Hammond, IN

Article Text

NEW TRAIL LEADS TO DETROIT Hammond National Bank Receiver in Statement DISCHARGES TEMPERATURE FOR REGION CROWN POINT CARPENTERS MERCHANT MACK CASE Quizzed for Kidnaping Clue

15. April 13, 1932 The Times Hammond, IN

Article Text

In order to speed up the filing of claims by depositors in the old Hammond National bank, the receiver, George J. Nattkemper, has arranged to keep the bank open every Friday evening until 8 o'clock. This will be continued until the time for filing expires.

16. September 29, 1932 The Times Hammond, IN

Article Text

DEPOSITORS IN LINE TO DRAW FIRST DIVIDEND A long line of happy depositors filled the lobby of the Hammond National Bank and Trust company all day today to receive their share of the 10 per cent cash dividend which the receiver, George J. Nattkemper, started to pay this morning. The dividend totals about $200,000. Mr. Nattkemper and his staff were swamped with the rush of participating depositors just as soon as the bank was opened at 9 o'clock this morning. A waiting line filled the lobby for the remainder of the banking day. The dividend was authorized by the national comptroller of currency at Washington, D. C. It is the first which the receiver has paid since the bank suspended operations last January. Mr. Nattkemper predicts additional dividends in the future. He was appointed receiver of the bank about three months after it failed. He stated this morning that only those depositors who have filed proper proof of claim are eligible to receive their 10 per cent share of the current dividend.

17. September 29, 1932 The Kokomo Tribune Kokomo, IN

Article Text

Dividend for Depositors Hammond, Ind., Sept. George receiver for the Hammond National Bank and Trust Co., closed Inst February, announced he would start distributing 10 per cent dividend today to depositors amounting to' $200,000.

18. September 29, 1932 The Evansville Journal Evansville, IN

Article Text

Receiver to Pay Dividend HAMMOND Ind., Sept. George Nattkemper, receiver for the Hammond National Bank Trust closed last February, announced would start distributper cent dividend today depositors amounting to $200,000.

19. December 22, 1932 The Times Hammond, IN

Article Text

GIVE OUT $175,000 DIVIDEND FOR XMAS Geo. Nattkemper, Hammond National Receiver, Makes Fine Showing Almost $175,000 in Christmas cheer will be distributed in cash by the Hammond National Bank and Trust company beginning tomorrow morning at 9 o'clock, to represent a dividend of 7 1/2 per cent for depositors of record, George J. Nattkemper, receiver, announced today. The announcement comes at the height of the Christmas shopping season and therefore is welcomed by depositors and merchants alike. Mr. Nattkemper, according to information which comes to The Times, has devoted weeks of intensive effort to liquidate sufficient assets with which to fill the Christmas stockings of depositors with this cash disbursement. This dividend, together with the first dividend of 10 per cent paid September 29, 1932, will make a total of dividends paid amounting to 17 1/2 per cent since the bank suspended business less than one year ago.

20. January 14, 1933 The Times Hammond, IN

Article Text

REDUCES HAMMOND NATIONAL LIABILITY George J. Nattkemper Submits Report of His Stewardship Reducing total liabilities of the suspended Hammond National Bank Trust company by almost 66 per cent during the short time he has been receiver, George J. Nattkemper today submits a report of his stewardship as of December 1932. He shows that original liabilities time the closed, that the total had reduced to $1,828,817.88. complete resume of report follows: SALIENT POINTS cost the payable rediscounts payments Total 1932, amounting to all fees. the payment made of very amount, is not an expense of liquidation able such, but payment bank. In addition, this item to the partial of asset held. The actual to total shown This shows be Total value) amount 3,964,348.10 Total 1932) amount original liaremaining

21. January 14, 1933 The Times Hammond, IN

Article Text

REDUCES HAMMOND NATIONAL LIABILITY George J. Nattkemper Submits Report of His Stewardship Reducing total liabilities of the suspended Hammond National Bank and Trust company by almost 66 per cent during the short time he been receiver, George J. Nattkemper today submits a report of his stewardship as of December 1932. He shows that original liabilities time closed, January 1932, that close 31, 1932, the total been reduced resume his report follows: SALIENT POINTS the payable and rediscounts amount Total penses all legal attorneys' fees. Included especially this total the amount of made claim liability of very large This therefore, is not expense liquidation such, but made settlement of claim against the bank. In addition, the amount item repaid the partial settlement asset held. total liquidation therefore. total income shown This shows to be $7,116.50 the of actual The value) 3,964,348.10 remaining uncol1932) amount Total 3,004,876.46 liabilities 1,828,817.88

22. January 14, 1933 The Times Hammond, IN

Article Text

REDUCES HAMMOND NATIONAL LIABILITY George J. Nattkemper Submits Report of His Stewardship Reducing total liabilities of the suspended Hammond National Bank and Trust company by almost 66 per cent during the short time he has been ceiver, George J. Nattkemper today submits report of his stewardship as of December 31, 1932. He shows that original liabilities amounted time bank January 1932, but that the close business 31, 1932, total had been reduced complete resume of his report follows: SALIENT POINTS earned and $725,755.42. Total Cash 7,116.50 Expenses to also all legal attorneys' fees. Included especially this amount made basis claim involving liability of very This is not expense of liquidation such. but payment in settlement against the bank. In the amount this repaid the partial an asset held. The total actual amount to total income shown shows total over actual allowed assets value) amount 3,964,348.10 1932) amount original

23. May 22, 1935 The Times Hammond, IN

Article Text

Rudolph Ackerman, receiver of the Hammond National Bank and Trust company and of two Gary National banks, resigned today, effective June 1, in order to return to his private business at South Bend where he formerly served as city comptroller.