Farmers National Bank

Episode Information

Episode UID: 964901606
Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 96490 national
Charter Number: 9649
Start Date: October 30, 1933
Location: Aledo, Illinois (41.200, -90.749)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 2b38be59a4320260

Response Measures

None

Receivership Details

Date receivership started: 1933-10-30
Date receivership terminated: 1935-04-04
Share of assets assessed as good: 71.6%
Share of assets assessed as doubtful: 35.4%
Share of assets assessed as worthless: 11.2%

Description

Article states bank closed since Nov 1, 1933; government-record receivership date is 1933-10-30.

Events (6)

1. January 31, 1910 Chartered

Source: historical_nic

2. October 30, 1933 Receivership

Source: historical_nic

3. October 30, 1933 Receivership

Newspaper Excerpt: E. O. Reaugh of Aledo, receiver for the closed Farmers National banks in Aledo and Viola since Nov. 1, 1933, was notified today of his appointment ...
Source: newspapers

4. February 12, 1935 Reopening

Newspaper Excerpt: Under his direction, the Aledo bank has been reorganized and is reported to be ready for opening soon, with release of 50 per cent of deposits.
Source: newspapers

5. April 4, 1935 Restored To Solvency

Source: historical_nic

6. May 18, 1935 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. February 12, 1935 The Rock Island Argus Rock Island, IL

Article Text

BANK RECEIVER APPOINTED FOR HENRY COUNTY E. O. Reaugh of Aledo Placed in Charge of Cambridge and Kewanee Institutions. (Special to The Argus.) Aledo, Ill., Feb. 12.—E. O. Reaugh of Aledo, receiver for the closed Farmers National banks in Aledo and Viola since Nov. 1, 1933, was notified today of his appointment as receiver for the Farmers National banks in Kewanee and Cambridge, and is assuming charge there today. Under his direction, the Aledo bank has been reorganized and is reported to be ready for opening soon, with release of 50 per cent of deposits. At Viola, a 70 per cent dividend has already been paid. Mr. Reaugh is the former vice president of the Hancock County National bank in Carthage, from which city he came to Aledo. He served as a member of the Illinois legislature for two terms, and as circuit clerk and recorder for several years in Hancock county. Theodore A. Allan has been receiver for the Kewanee bank. Neither the Kewanee nor Cambridge bank has been open for business since the national banking moratorium of March 4, 1933.