Old National City Bank (Lima, OH)

View Charter #8701 on SPMC View balance sheet

Episode Information

Episode UID
870101576
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
87010 national
Charter Number
8701
Start Date
April 28, 1931
Location
Lima, Ohio (40.741, -84.112)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
22a40acd1dac34fb

Response Measures

Capital injected, Full suspension, Books examined

Receivership Details

Depositor recovery rate
71.9%
Date receivership started
1931-04-29
Date receivership terminated
1940-01-27
Share of assets assessed as good
49.2%
Share of assets assessed as doubtful
41.2%
Share of assets assessed as worthless
9.6%

Events (5)
1. May 20, 1907 Chartered
Source
historical_nic
2. April 28, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy and sustained withdrawals at the bank (unexpectedly heavy withdrawals precipitated depositor flight).
Measures
Other Lima banks sought approval to make loans to citizens against deposits temporarily tied in the closed institution; examiners called in to check accounts.
Newspaper Excerpt
closed its doors afternoon following yesterday expectedly heavy withdrawals
Source
newspapers
3. April 29, 1931 Receivership
Source
historical_nic
4. April 29, 1931 Receivership
Newspaper Excerpt
Taylor announced last night that corps of examiners is pected in Lima today to start checking the bank's accounts. The examiner be in charge of the bank until receiver is appointby the comptroller of currency of the United States.
Source
newspapers
5. April 29, 1931 Suspension
Cause
Government Action
Cause Details
Federal examiner took charge and the comptroller/receiver process began after the bank closed following heavy withdrawals.
Newspaper Excerpt
FEDERAL EXAMINER TAKES OVER BOOKS ... the examiner be in charge of the bank until receiver is appointby the comptroller of currency of the United States. Notice of the closing of the bank was placed on the door
Source
newspapers

Newspaper Articles (11)
1. April 29, 1931 The Lima Morning Star and Republican-Gazette Lima, OH

Article Text

OBLIGATIONS Complete Recovery For Depositors Of Closed Bank Predicted FEDERAL EXAMINER TAKES OVER BOOKS Unexpected And Run Brings Of Institution Depositors of the Old NationalCity bank, which closed its doors afternoon following yesterday expectedly heavy withdrawals will receive dollar ing the day, for dollar, according to information from source close to the bank heads. Pending further situation Old checking the National officials asked for further time before making public detailed statement as to the situation. This statement is expected to be ready by tonight. It also was learned that other banks of Lima will seek the proval of William Taylor, chief national bank examiner, who has taken over the Old National, for plan to make loans to citizens against deposits temporarily tied in the closed institution. Taylor announced last night that corps of examiners is pected in Lima today to start checking the bank's accounts. The examiner be in charge of the bank until receiver is appointby the comptroller of currency of the United States. Notice of the closing of the bank was placed on the door the middle of the afternoon and the news spread rapidly through the business district. Outside the bank score of curious onlookers watched as depositors entered the institution to read the notice of closing. The afternoon passed quietly. Neither Allen county nor Lima city school funds are on deposit the Old National, it was nounced last night. The Old National bank sueceeded the Ohio National bank, which was organized in Lima in 1887. The Old bank in 1926 completed the erection the West High street building that is the present bank home. The closed bank is capitalized $300,000 and had surplus fund of $60,000, according to its last statement which was issued March.

2. November 7, 1931 The Lima Morning Star and Republican-Gazette Lima, OH

Article Text

DEADLINE FILING BANK CLAIMS TODAY 96 Per Cent Of National City Depositors Verify Accounts Depositors in the Old NationalCity bank will have until today to file their claims. During the last three months, Ellis, receiver of the bank, has issued certificates deposit to per cent of those having funds the closed bank. Receiver Ellis last night said he could announce when the first dividend will paid depositors. Payments will be recommended Ellis to the comptroller currency when the ceiver believes that sufficient funds been realized in the liquidating process to warrant the move. The comptroller has the right order dividend paid, if he believes funds paid into the district depository of the department sufficient, without waiting for the receiver's Funds Lima bank placed deposit in the Huntington National bank Columbus. the bank have assessed for double liability their stock, and payments being made to Receiver Ellis. suits have been filed for the collection of the stock assessment, most the are paying voluntarily, some on installment plan approved by the receiver. Stockholders, who depositors, cannot apply their deposits against their said. Stockholders, when they receive dividend payments their deposits at the same other depositors may pay the on stock liabilities, said ruling is the all national banks, when liquidated, and last Wednesday approved the ruling in the liquidating of state banks opinion of Attorney General Gilbert Bettman. Work preparing dividend checks will done Washington, The checks will drawn the Huntington bank.

3. November 17, 1931 The Lima News Lima, OH

Article Text

BANK RECEIVER TO SELL $207,000 IN STOCKS, BONDS Judge E. E. Everett has issued an order in Allen-co common pleas court granting permission to Charles H. Ellis, receiver of the Old National-City bank, to sell at private sale $207,000 stocks and bonds, part of the assets of the closed bank. The bonds, Ellis said, are mostly of the coupon type, both industrial and civie, and periods of ma. turity range from 10 to 40 years.

4. June 15, 1932 The Lima News Lima, OH

Article Text

JUDGMENT OF $17,792 ASKED IN COURT ACTION Judgment in the sum of $17,792 and appointment of a receiver were asked in a foreclosure suit filed in Allen-co common pleas court by the Citizens Loan & Building Co., Lima, against Walter P. Bloom, Florence Bloom, Charles H. Ellis as receiver for the Old National-City bank, Maryland Casualty Co., Ira J. Fulton as state superintendent of banks, Waldo H. Rose as Allen-co clerk of courts, Paul T. Landis as trustee in bankruptcy, Lima Loan Co., and Northwestern Mutual Life Insurance Co.

5. October 7, 1932 The Lima Morning Star and Republican-Gazette Lima, OH

Article Text

Old National Bank Receiver Shows Fund Of $19,932 On Hand Cash amounting to $19,932.84 was on hand in the liquidation of the Lima Old National-City bank at the close of the quarter ending Sept. 30, according to statement issued last night by Federal, Receiver C. H. Ellis This amount was left after loans to the bank were paid. During the quarter. assets of $135,646.01 were liquidated, leaving uncollected assets of $1,987,130 91. When Ellis took charge of the closed bank in June, 1931, the bank's assets were appraised at The assets remaining for collection include $1,160,059.78 of bills receivable; $140,827.65 assessments unpaid by stockholders; $576,448.75 in assets other than bills receivable, in additional assets acquired since the bank closed. There remains unpaid on claims proved on unsecured liabilitles Claims which were unsecured and which were not proved total Additional proved liabilities of the bank amount to $4,644 07. Two dividends in the amount of $609,824.27 been paid. The first payment of 20 per cent dividend, totaling $375,was made last December. The second payment of 12 per cent, amounting to $235,751.42 was made last May. Alpha Floral. Open Evenings.

6. October 7, 1932 The Lima News Lima, OH

Article Text

OLD NATIONAL BANK RECEIVER MAKES REPORT Assets of $135,646 Liquidated Three Months, Says Official MUCH IS UNCOLLECTED Cash On Hand At End of Quarter Amounts to Total of $19,932 Charles H. Ellis, federal receivfthe Old National-City bank, Lima, issued a statement showing cash of $19,932.84 was on at the close of the quarter, 30, in the liquidation of the institution. This amount was left loans to the bank were paid, Ellis Daring the past three months, assets of $135,646.01 liquidated, leaving uncollectassets aggregating $1,987,When Ellis took over closed bank in June, 1931, were appraised at $3,remaining for collection, iver explained, include 95.78 in bills receivable; in assessments unstockholders; $576 448.75 other than bills receivand $109,794.79 in addiassets acquired since the closed. There remains unpaid on claims proved on unsecured liabilities sum of $1,874,262.03. Claims which were unsecured and which not proved total $30,951.90. proved liabilities mount to $4,644.07. Two dividends totaling $609,$24.27 have been paid. The first payment of 20 per cent dividend, December, 1931, and the second 131-2 per cent dividend, amountto $235,751.42, was authorised in May 1932.

7. February 26, 1934 The Lima News Lima, OH

Article Text

OLD NATIONAL CLAIMS SETTLED BY COURT ORDER Claims aggregating settled Monday for $4,915 stocks and mortgages the liquidation of the Old National City Bank and the transaction was approved by Judge Everett in Allen-co common The settlements, requested application presented Charles H. Ellis, receiver of the closed bank, had been approved the United States Comptroller Currency. Included in the authorizations permission given the bank to $900 Mrs. Mae Scott Matthin in payment of $10,000 assessment. requesting authority to the $900 for cancellation and payment of shares of the capital stock, said the best could be obtained. The application revealed that Mrs. Halfhill had assets other than $900 would be unable pay the full amount assessed against her. Settlement of debetedness against and Emma Frances Kelly, due on two notes, also was auth orized in the court order. Under terms of the settlement. the Kellys are pay present the bank with two notes $230 each and 60 shares stock Banta and which bank now holds security for the notes. The receiver was directed to hold mortgage which now has premises owned by the Kellys, not release the mortgage the notes are paid. The plication approval the settlement said that the debtors assets other than mentioned and that their liabilin excess of their settlement of indebtedness due land tract, the bank's receiver thorized to accept from Hobart Mahler bonds of the Home Own. Loan Corp. in the amount $2,100 or more. The receiver also authoraccept from Binkley the sum $15 full payment note.

8. March 15, 1934 The Lima News Lima, OH

Article Text

BANK RECEIVER FILES CROSS-PETITION IN SUIT Judgment for $2.900 is asked by Charles H. Ellis. receiver of the Old National City Bank, in an answer and cross-petition filed Thursday in Allen-co common pleas court in connection with recent suit filed against the Knights of The Ku Klux Klan by George O. and Dora Ritchey, who live near Gomer. The cross-petition. which names Dr. R. A. Buchanan as trustee for other members of the organiza tion. asserts the amount is due on note signed and executed by Dr. Buehanan in 1929. Ellis. in his answer, recites that the note was reduced to judgment last Nov. 27 in Allen-co pleas court. Judgment for $2,000 was asked in the suit filed by the Ritcheys against the organization. The ac tion asked foreclosure of the Klan farm west of Lima. Others named in the answer are Owen P. Marmon, Edward 8. Case, Orrie G. O'Dell, Cleveland Manuel. Guy D. Means and Virgil H. Effinger. FOREST AREAS Idaho has the greatest area of national forests In this country.

9. June 1, 1934 The Lima News Lima, OH

Article Text

BANK RECEIVER FILES $2,679 SUIT ON NOTE Claiming $2,679.13 still was due on a $3,000 promissory note, delivered to the bank Feb. 21, 1930, C. H. Ellis, receiver for the Old National City bank of Lima, Friday filed suit in common pleas court for that amount. H. Bloom and Anna Bloom and H. F. Jones were named defendants in the litigation.

10. September 14, 1939 The Bluffton News Bluffton, OH
Article from The Bluffton News, September 14, 1939

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Article Text

To Complete Bank Liquidation J. E. Maher, receiver, said liquidation of the Old National-City Bank of Lima probably will be completed before Jan. 1. A public sale of the remaining assets is set for next month.

11. October 5, 1939 The Bluffton News Bluffton, OH
Article from The Bluffton News, October 5, 1939

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Article Text

Bank Assets To Be Sold Public sale of remaining assets of the Old National-City Bank of Lima was scheduled for Oct. 19, under supervision of Receiver J. E. Maher. Disposal of the real estate, bills receivable, judgments and other chattels is subject to approval of the comptroller of currency and the courts. Proceeds will go toward payment of a final dividend to bank depositors, the amount depending on results of the sale. Dividends to date total 65 per cent, or about $1,170,000. The bank closed April 28, 1931.