First National Bank (Basin, WY)

View Charter #10858 on SPMC View balance sheet

Episode Information

Episode UID
1085801489
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
108580 national
Charter Number
10858
Start Date
January 1, 1924*
Location
Basin, Wyoming (44.380, -108.039)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
24758c97e871f3ac

Response Measures

None

Receivership Details

Depositor recovery rate
75.5%
Date receivership started
1924-06-14
Date receivership terminated
1929-09-23
OCC cause of failure
Economic conditions
Share of assets assessed as good
53.0%
Share of assets assessed as doubtful
34.0%
Share of assets assessed as worthless
13.1%

Description

The bank was in receivership and although a reopening was planned in early 1925, the 1926 article confirms it remained in liquidation with dividends being paid by a receiver.

Events (5)
1. May 26, 1916 Chartered
Source
historical_nic
2. January 1, 1924* Suspension
Cause Details
Bank was already in the hands of a receiver by January 1925; specific cause of initial failure not stated.
Newspaper Excerpt
G. C. Dillavou, receiver of the First National bank of Basin, announces that that institution will be able to open in the near future
Source
newspapers
3. June 14, 1924 Receivership
Source
historical_nic
4. January 7, 1925 Receivership
Newspaper Excerpt
G. C. Dillavou, receiver of the First National bank of Basin
Source
newspapers
5. January 6, 1926 Other
Newspaper Excerpt
A dividend of 35 per cent has been declared by the First National bank... G. C. Dillavou, receiver, states that this dividend just declared will amount to around $75,000
Source
newspapers

Newspaper Articles (2)
1. January 7, 1925 Park County Herald Cody, WY
Article from Park County Herald, January 7, 1925

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Article Text

FIRST NATIONAL TO RE-OPEN AT BASIN G. C. Dillavou, receiver of the First National bank of Basin, announces that that institution will be able to open in the near future, and has issued this word to the depositors of the defunct institution for a New Year's present. Stock necessary for the re-opening of the bank is said to have been fully subscribed and the people of Basin are very much pleased with the prospect of the bank again opening its doors.

2. January 6, 1926 Park County Herald Cody, WY
Article from Park County Herald, January 6, 1926

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Article Text

BASIN FIRST NATIONAL DECLARES DIVIDEND A dividend of 35 per cent has been declared by the First National bank, the checks to depositors already have been mailed to Washington and as soon as they are signed and returned will be distributed. G. C. Dillavou, receiver, states that this dividend just declared will amount to around $75, 000 and was made possible at this time by the compromise of claims and settlements of suits in addition to collection of debts owing the institution. It is expected the check for distribution will be returned from Washington in about two weeks. Coming at this season of the year, this dividend will be greatly appreciated by the depositors and will aid materially in strenghening the local financial condition. -Basin Republican.