First National Bank - Mohall, ND

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 7008
Charter Number: 7008
Start Date: November 30, 1921
Location: Mohall, North Dakota (48.763, -101.513)

Metadata

Model: gpt-5-mini
Short Digest: ceddaf62

Response Measures

Full suspension, Books examined

Receivership Details

Date receivership started: 1922-01-04
OCC cause of failure: Losses

Description

Article reports heavy/abnormal withdrawals (a run) leading depositors' meeting to suspend payments; deputy national bank examiner took charge — indicates suspension and likely permanent closure/receivership. No explicit reopening mentioned.

Events (7)

1. October 17, 1903 Chartered

Source: historical_nic

2. November 30, 1921 Run

Cause Details: Abnormal demand for withdrawals (large portion of checking accounts and many certificates of deposit presented within weeks); liquidity strain rather than a named rumor or correspondent failure.
Measures: Depositors' meeting decided to suspend payments; bank closed.
Newspaper Excerpt: The reason for the closing is stated to be an abnormal demand for withdrawal of deposits. Demands amounting to 50 per cent of the checking accounts ... were presented for payment within a few weeks' time
Source: newspapers

3. November 30, 1921 Suspension

Cause Details: Suspension following inability to meet abnormally large withdrawal demands; examiner took charge.
Newspaper Excerpt: Deputy National Bank Examiner Loring, took charge of the institution today, following the decision of the depositors' meeting held yesterday, to suspend payments and close.
Source: newspapers

4. January 4, 1922 Receivership

Source: historical_nic

5. September 9, 1922 Restored To Solvency

Source: historical_nic

6. January 22, 1925 Receivership

Source: historical_nic

7. * Other

Newspaper Excerpt: It is hoped that the closing is only temporary and that arrangements may be made for reepening it later.
Source: newspapers

Newspaper Articles (1)

1. November 30, 1921 The Devils Lake World Devils Lake, ND

Article from The Devils Lake World, November 30, 1921

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Article Text

LAST MOHALL BANK CLOSES Renville County Seat Is Without Bank Minot, N. D. - The First National bank of Mohall, the last of the three banks in the Renville county seat to remain open, closed today. It is hoped that the closing is only temporary and that arrangements may be made for reepening it later. The reason for the closing is stated to be an abnormal demand for withdrawal of deposits. Demands amounting to 50 per cent of the checking accounts and a large amount in certificates of deposit, were presented for payment within a .few weeks' time, it is announced, and the abnormal payments could not be met. Deputy National Bank Examiner Loring, took charge of the institution today, following the decision of the depositors' meeting held yesterday, to suspend payments and close. F. A. Schroeder is president, and Fred Page, cashier of the bank. The capital stock is $25,000 and the sur$1,57,000. The remaining deposits are about $200,000.