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.
12393. 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
88a8dc8f
Response Measures
Full suspension, Books examined
Other: Closed voluntarily by officers; special examiner recommended reopening; losses charged off and replaced by acceptable securities.
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
Contemporary reports (Nov. 1923) indicate a run on the First National Bank of Langdon around Nov. 1, 1923 leading officers to suspend. A special examiner completed work and recommended reopening; bank officials said the bank was solvent and losses were charged off and covered by securities.
Events (6)
1.
October 7, 1892
Chartered
- Source
- historical_nic
2.
November 1, 1923
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Run occurred as depositors made sudden demands while the bank could not collect bills receivable quickly enough to meet withdrawals (liquidity shortage).
- Measures
- Special examiner (C. F. Fiman) was appointed; estimated losses were charged off and replaced by acceptable securities; officials complied with examiner's requests.
- Newspaper Excerpt
- Bank 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
- Suspension was voluntary by officers amid a run and inability to meet sudden withdrawal demands due to illiquid bills receivable.
- Newspaper Excerpt
- The First National bank of Langdon which suspended about Nov. 1, last, now appears likely [to reopen].... suspended during a run on the bank and because bills receivable could not be collected quickly enough to meet sudden demands.
- Source
- newspapers
4.
December 4, 1923
Reopening
- Newspaper Excerpt
- May reopen Langdon bank... Work of C. F. Fiman, special examiner, has been completed. Bank officials have complied with all requests made by him... 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)
Click image to open full size in new tab
Click image to open full size in new tab
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.
Click image to open full size in new tab
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.
Click image to open full size in new tab
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
Click image to open full size in new tab
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.
Click image to open full size in new tab
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