First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11346
Charter Number: 11346
Start Date: March 22, 1924
Location: Golva, North Dakota (46.734, -103.986)

Metadata

Model: gpt-5-mini
Short Digest: a1d0a667

Response Measures

None

Receivership Details

Depositor recovery rate: 3.0%
Date receivership started: 1924-03-18
Date receivership terminated: 1928-11-01
OCC cause of failure: Governance
Share of assets assessed as good: 16.9%
Share of assets assessed as doubtful: 56.5%
Share of assets assessed as worthless: 26.5%

Description

Article (Bismarck Tribune, 1924-03-22) reports the First National Bank of Golva was closed on order of the national bank examiner because of depleted reserves and difficulty collecting. No run is mentioned; closure appears to be permanent in the article.

Events (3)

1. May 9, 1919 Chartered

Source: historical_nic

2. March 18, 1924 Receivership

Source: historical_nic

3. March 22, 1924 Suspension

Cause: Government Action
Cause Details: Closed by order of national bank examiner due to depleted reserves and difficulty collecting.
Newspaper Excerpt: The First National bank of Golva closed its doors late Monday afternoon, on order of R. T. Powers, national bank examiner, the reason assigned being depleted reserves and difficulty in collecting.
Source: newspapers

Newspaper Articles (1)

1. March 22, 1924 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, March 22, 1924

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Article Text

BANK CLOSES Beach, N. D., Mar. 22.-The First National bank of Golva closed its doors late Monday afternoon, on order of R. T. Powers, national bank examiner, the reason assigned being depleted reserves and difficulty in collecting. The bank had a capital of $25,000 and its last report showed a surplus of $1,000 and undivided profits of $1,452.54. loans of $115,969.71, and deposits of about $58,000. This was the first bank established at Golva. Hugh Egan is president and Ted Zorn acting cashier.