First National Bank (Clovis, NM)

Episode Information

Episode UID
1252201496
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
125220 national
Charter Number
12522
Start Date
August 30, 1924
Location
Clovis, New Mexico (34.405, -103.205)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
887dce96cdf258a3

Response Measures

None

Receivership Details

Depositor recovery rate
55.0%
Date receivership started
1924-09-04
Date receivership terminated
1927-09-30
OCC cause of failure
Governance
Share of assets assessed as good
19.3%
Share of assets assessed as doubtful
59.5%
Share of assets assessed as worthless
21.2%

Description

Receiver appointed and petitions to sell assets indicate insolvency and permanent closure; receiver later died in 1926.

Events (7)

1. April 3, 1924 Chartered
Source
historical_nic
2. August 30, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended operations and was described as insolvent, prompting receivership petitions.
Newspaper Excerpt
the bank suspended business about August 30, 1924
Source
newspapers
3. September 4, 1924 Receivership
Source
historical_nic
4. September 5, 1924 Receivership
Newspaper Excerpt
H. A. Jacobs ... has been appointed receiver of the First National bank of Clovis, N. M., which closed Tuesday.
Source
newspapers
5. November 28, 1924 Other
Newspaper Excerpt
petition asking an order to sell all the real property of insolvent bank ... has received an offer ... of $50,585.73 cash for real property and unpledged assets of the bank.
Source
newspapers
6. March 14, 1925 Other
Newspaper Excerpt
Suits by H. A. Jacobs, receiver of the First National Bank of Clovis, against a number of defendants over bank assessments.
Source
newspapers
7. April 13, 1926 Other
Newspaper Excerpt
BANK RECEIVER AT CLOVIS ENDS LIFE ... George U. Schweinfurth, receiver of the First National bank in Clovis, killed himself April ...
Source
newspapers

Newspaper Articles (6)

Article from El Paso Times, September 5, 1924

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Article Text

H. A. Jacobs Is Named N. M. Bank Receiver H. A. Jacobs, assistant to A. H. Denton, receiver of the City National bank, has been appointed receiver of the First National bank of Clovis, N. M., which closed Tuesday. Mr. Jacobs left last night to take up the new work. Mr. Denton is expected to return next Monday from his home in Arkansas City, Kansas, where he was called on account of the death of a business associate.


Article from The Santa Fe New Mexican, November 28, 1924

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Article Text

Special Federal Grand Jury Meets; May Consider A Bank Case, Is Rumor A special federal grand jury, with Harry J. Burgess of Silver City as foreman, began its deliberations at the old Federal Building this morning. The special jury was called recently and it is rumored that it may investigate developments in the so-called Herndon bank case The names and residences of the jurors follow: L. P. James, Clayton. F. L. Smith, Roswell. Harry J. Burgess, Silver City. Willard L. Prager, Roswell. J. F. Ott, Corona. C. E. Oden, Albuquerque. Oliver Sharp, Aztec. W. H. Jennings, Deming. J. A. Lowe, Santa Fe. Wm. H. Johnson, Roswell. Climaco W. Aguirre, Los Lunas. Chas. P. Trumbull, E. Las Vegas. Otto Thomas, Aztec. E A. Snook, Clayton Leo Regensberg, E. Las Vegas. F. L. Mehlhop, Dexter. J. T. Cole, Santa Rosa. Harold Scott, Las Cruces. John Byrne, Clovis. Fred A. Vogeding, French. Hugo H. Lowenstern, Nara Visa. Lawrence H. Burns, E. Las Vegas. M. M. Shelton, Gallup. SURETY CASE SET DEC. 1 Monday, December 1, has been set as the day of trial of the case of the Southern Surety Co., a corporation and the Fidelity and Deposit Co., of Maryland, a corporation vs. George A. Kaseman, O. N. Marron, and M. K. Wylder. The case will be tried by U. S. District Judge Phillips. LOAN IS APPROVED Judge Phillips has signed an order in the case of the War Finance corporation vs. the Livestock and Agricultural Loan Co., of New Mexico, authorizing Receiver Levi A. Hughes, of the livestock company, to loan El Capitan Livestock Co., funds sufficient to pay off a mortgage on the lands of said company now held by the First National bank of Albuquerque, due in the sum of $21,500. SUIT FOR NEARLY $4,000 Suit was filed in the U. S. district clerk's office today by the National Bank of Commerce in New York, a banking corporation, vs. D. W. Condown, receiver of the Plaza Trust and Savings bank, a banking corporation, asking judgment for $3,964.55 and interest from December 15, 1923 and costs as due on a note. Attorney C. W. G. Ward represents plaintiff. The complaint alleges that the plaintiff is entitled to such pro-rata distribution of dividends declared and paid by the defendant received as paid to other creditors of the Plaza Trust and Savings bank; it is also alleged that plaintiff has made demands for payment since the Plaza Trust and Savings bank declared a 25 per cent dividend. DEFAULT DECREE A default decree has been issued in the case of the government vs. Leon M. Aldrich for cancellation of homestead patent. Judge Phillips signed the decree. RECEIVERS OFFERED $50,585 FOR DEFUNCT BANK In the matter of the receivership of the First National bank of Clovis, H. A. Jacobs, as receiver of that bank, has filed a petition asking an order to sell all the real property of insolvent bank. It is stated that the bank suspended business about August 30, 1924, and that petitioner has received an offer from S. A. Jones and A. W. Skarda, of Clovis, of $50,585.73 cash for real property and unpledged assets of the bank. The petitioner says he has submitted the offer to the Comptroller of the Currency of the United States who has approved it; also that no better offer has been made. W. A. Havener, of Clovis, is attorney for petitioner.


Article from The Santa Fe New Mexican, March 14, 1925

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Article Text

BANK RECEIVER FILES TWENTY SUITS OVER STOCK ASSESSMENTS Suits filed in Roswell have been received at the U. 8. district clork's office here. They are suits by H. A. Jacobs, receiver of the First Na. tional Bank of Clovis. against number of defendants over bank as sessments. The names of defend ants Pipkin, E. W. Rea gan, Will H. Pattison. H. Ford. Rodes. O. Pritchard S. H. Rhodes. B. Eastham, Ned 85 Miller F. Sellers M. Woods and Joseph A. Smith.


Article from El Paso Times, March 15, 1925

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Article Text

BANK RECEIVER HERE. H. A. Jacobs, for the First National bank, of Clovis, N. M., was here yesterday for with El Paso attorneys relative to litigation in which the trust is interested.


Article from The Santa Fe New Mexican, June 19, 1925

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Article Text

FEDERAL COURT NOTES The following orders were signed today by U. District Judge Colin Neblett: In the matter of the receivership of the First National Bank in Clovis, Clovis, N. M., sale of bonds authorized. In the case of Albert H. Denton, ceiver of the City National Bank Paso, Charles M. judgment in favor of the plaintiff for and interest. In the case of the United States of America rel Pueblo of Santa Clara and San Ildefonso. Antonio Vigil cause dismissed without prejudice. In the case of Grace B. Doering VS. Joseph Barnett, et tal, cost bond executed by the plaintiff for $1,000 is released. In the case of Clarence Rankin et the plaintiffs will reΓ§over from defendant $500 in full payment. BANKRUPTCY MATTERS Bankrupts' petition for discharge acted upon as Walter H. Pace, of referred to Fullerton at Samuel Pickens, of Estancia, to Mr. Fullerton. Discharges granted Warren Earl Simons, of Clayton; to the coof Ernest Livers and partners Mary B. Livers and Ernest Livers and Mary B. Livers individually, of Mountainair to Eppy L. Northcutt, French. Case of Mike Joseph and Rose Joseph ordered closed also of Claude William Carlson and Orvel Brown of Estancia, and Thomas L. Lowe, of Silver City. Application for discharge Charles Skinner, Albuquerque, referred to George Taylor, James R. Doolney. Santa Fe. to Mr. Fullerton, Santa Fe: William Meyer, of Santa Fe, to Mr. Fullerton: William Murray of Silver City, to Frank Wright Silver City: Henry Westerfield Son, co-partnership, composed of Henry Westerfield, GusTaylor at Albuquerque: Abe of to Wright at Silver City Edward C. Eaton of Socorro Mr. Taylor, Silver City: Clyde Hooper, of Raton to George Alexander Janos of Hanis, at to Mr. Taylor Albuquerque. SLOAN NAMED COMMISSIONER Sloan was named U. Oglesby Commissioner at. Quemado, Catron county.


Article from Albuquerque Journal, April 13, 1926

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Article Text

BANK RECEIVER AT CLOVIS ENDS LIFE George U. Schweinfurth. receiv. of the First National bank in Clovis killed himself April at Groom, Texas, by shooting himself in the heart, according to a letter received here. Mr. Schweinfurth also was receiver of the bank at Groom. He was 32 years old.