The Depression test, and the end — absorbed, December 1963

1929–1963 · FAILURE RECORD TESTED

The town's bank did not fail in the Depression; it was bought, thirty years later, in good order. The failure record first, because the checklist requires it whole: the Federal Reserve Bank of Chicago's lists of licensed banks for 1934 and 1935 — the post-holiday licensing record, the instrument that names which banks were permitted to reopen and stay open — carry "New Carlisle — First Nat'l Bank" in both years. The town's one bank came through the bank holiday licensed and kept its charter for another three decades; there is no 1929–34 failure in New Carlisle to record, and that negative is printed at the strength of the licensing lists. The end, when it came, was absorption, not failure: the Federal Reserve's G.4.5 Statistical Release for December 1963 records, in its changes list, "New Carlisle, Ind. — National — First National Bank — Absorbed by — National Bank & Trust Co." of South Bend, the New Carlisle office continuing as a branch of the acquiring bank (the release's date column is imperfectly aligned in the copy read; the month and year, December 1963, are what the release carries, and the exact day is not asserted). Headquarters banking in New Carlisle ends there. The town has held branch banking only from December 1963 to the present day.

Sources:

1. Federal Reserve Bank of Chicago, Lists of Licensed Banks, 1934 and 1935: "New Carlisle — First Nat'l Bank" carried both years. Read first-hand.
2. Board of Governors, G.4.5 Statistical Release, December 1963 (FRASER, fraser.stlouisfed.org): the absorption entry and the branch continuation. Read first-hand; the date-column caveat is printed with the fact.