Article Text
Town's Third Bank Closes. LANGDON, N. D., Oct. 31.-The First National Bank of Langdon has been closed by its officers. This is the third Langdon bank to close or suspend during the last six weeks and leaves the town without a bank.
11011. First National Bank (Langdon, ND)
Bank Information
- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
- 4802
- Charter Number
- 4802
- Start Date
- November 1, 1923
- Location
- Langdon, North Dakota (48.760, -98.368)
Metadata
- Model
- gpt-5-mini
- Short Digest
4ebc69209dc9c84e
Response Measures
Capital injected, Full suspension, Books examined
Receivership Details
- Depositor recovery rate
- 17.3%
- Date receivership started
- 1931-04-23
- Date receivership terminated
- 1935-04-23
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 0.5%
- Share of assets assessed as doubtful
- 18.5%
- Share of assets assessed as worthless
- 81.0%
Description
Multiple contemporaneous newspapers (Nov–Dec 1923) report the First National Bank of Langdon was suspended about Nov 1 during a run because bills receivable could not be collected quickly enough. A special examiner completed work and recommended reopening (Dec 4, 1923). Some syndicated notices describe the bank as 'closed by its officers voluntarily,' but the Bismarck Tribune account clarifies a run-induced suspension and steps taken to restore solvency.
Events (6)
1.
October 7, 1892
Chartered
- Source
- historical_nic
2.
November 1, 1923
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Run occurred because bills receivable could not be collected quickly enough to meet sudden demands (liquidity strain); bank solvent but hit by heavy withdrawals.
- Measures
- Special examiner (C. F. Fiman) investigated; estimated losses charged off and replaced by acceptable securities; complied with examiner requests; recommendation to comptroller to permit reopening.
- Newspaper Excerpt
- Officials stated that the bank was solvent, but was suspended during a run on the bank and because bills receivable could not be collected quickly enough to meet sudden demands.
- Source
- newspapers
3.
November 1, 1923
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Suspended during a run and because bills receivable could not be collected quickly enough to meet sudden demands; officers closed/suspended the bank voluntarily amid the run and liquidity pressures.
- Newspaper Excerpt
- May reopen Langdon bank... the First National bank of Langdon which suspended about Nov. 1, last, now appears likely...
- Source
- newspapers
4.
December 4, 1923
Reopening
- Newspaper Excerpt
- Mr. Fiman states that he has recommended to the comptroller of currency that the bank be permitted to reopen.
- Source
- newspapers
5.
July 5, 1927
Voluntary Liquidation
- Source
- historical_nic
6.
April 23, 1931
Receivership
- Source
- historical_nic
Newspaper Articles (6)
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Article Text
Town's Last Bank Quits. Langdon, N. D.-The First National Bank of Langdon was closed by its officers voluntarily recently. This is the third Langdon bank to close or suspend in six weeks and leaves the town without a bank.
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Article Text
MAY REOPEN LANGDON BANK Langdon, N. D., Dec. 4.-Early reopening soon of the First National bank of Langdon which suspended about Nov. 1, last, now appears likely, with efforts that have been made by officials and friends of the institution to straighten up and safeguard its affairs. Officials Stated that the bank was solvent, but was suspended during a run on the bank and because bills receivable could not be collected quickly enough to meet sudden demands. Work of C. F. Fiman, special examiner, has been completed. Bank officials have complied with all requests made by him as examiner. No change of officers was demanded. Estimated losses were charged off and replaced by securities acceptable to the department. Mr. Fiman states that he has recommended to the comptroller of currency that the bank be permitted to reopen.
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Article Text
Town's Last Bank Quits. Langdon, N. D.-The First National Bank of Langdon was closed by its officers voluntarily recently. This is the third Langdon bank to close or suspend in six weeks and leaves the town without a bank. 1
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Article Text
Town's Last Bank Quits. Langdon, N. D.-The First National Bank of Langdon was closed by its officers voluntarily recently. This is the third Langdon bank to close or suspend in six weeks and leaves the town without a bank.
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Article Text
Bank Receivers And Postmasters Named Names of five for three closed national banks in North Dakota were nounced Friday by Perry, tional committeeman and New postmasters Kenneberg, Leeds: Clinton W Sheldon Alice: Fred Thompson, Neche, Arena. Bank are W Backes, Langdon, for the First bank Rock Thomas M. Condon, Valley for National bank of Ira Hall, for the First National bank at