First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5893
Charter Number: 5893
Start Date: December 7, 1927
Location: Hope, North Dakota (47.322, -97.722)

Metadata

Model: gpt-5-mini
Short Digest: d16a56d0

Response Measures

None

Receivership Details

Depositor recovery rate: 83.5%
Date receivership started: 1927-12-12
Date receivership terminated: 1933-08-15
OCC cause of failure: Economic conditions
Share of assets assessed as good: 13.7%
Share of assets assessed as doubtful: 59.5%
Share of assets assessed as worthless: 26.8%

Description

Article states the First National Bank of Hope closed December 7, 1927. Later (1929-09-10) a receiver is suing directors for excessive loans, indicating the bank remained closed and entered receivership. No run is described in the article.

Events (4)

1. July 5, 1901 Chartered

Source: historical_nic

2. December 7, 1927 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed amid allegations of excessive loans and likely insolvency; directors later sued for common law and statutory liability.
Newspaper Excerpt: The bank closed December 7, 1927.
Source: newspapers

3. December 12, 1927 Receivership

Source: historical_nic

4. September 10, 1929 Receivership

Newspaper Excerpt: J. S. Olland, receiver for the bank, is bringing suit against Thomas Thompson, J. H. McCollom and J. F. Beckerjeck ... It is alleged that the directors made excessive loans.
Source: newspapers

Newspaper Articles (1)

1. September 10, 1929 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, September 10, 1929

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Article Text

Judge Miller Hearing $57,000 Damage Suit Against Hope Bankers Fargo, N. D., Sept. 10.-(P)-Suit for $57,000, against the directors of the closed First National bank of Hope, was being tried today in the United States district court here before Judge Andrew Miller. J. S. 01land, receiver for the bank, is bringing suit against Thomas Thompson, J. H. McCollom and J. F. Beckerjeck. three of the directors, on the grounds of common law violations and statutory liability. It is alleged that the directors made excessive loans. The bank closed December 7, 1927.