Oakes National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6988
Charter Number: 6988
Start Date: September 20, 1933
Location: Oakes, North Dakota (46.139, -98.090)

Metadata

Model: gpt-5-mini
Short Digest: aeff7c69

Response Measures

None

Receivership Details

Depositor recovery rate: 23.9%
Date receivership started: 1926-09-04
Date receivership terminated: 1933-12-11
OCC cause of failure: Economic conditions
Share of assets assessed as good: 27.6%
Share of assets assessed as doubtful: 62.4%
Share of assets assessed as worthless: 10.0%

Description

Article (The Forum, 1933-09-20) reports the Oakes National Bank is in receivership and the receiver is paying a final dividend. No mention of a depositor run; bank has been closed and placed in receivership prior to the article.

Events (3)

1. October 10, 1903 Chartered

Source: historical_nic

2. September 4, 1926 Receivership

Source: historical_nic

3. September 20, 1933 Receivership

Newspaper Excerpt: Oakes Bank Receiver Is Paying Final Dividend Oakes, N. D.-Ed. Schulenberg, Edgeley, receiver of the Oakes National bank, has announced he is paying final dividend from that institution of 8.89 per cent, and checks will be delivered at the end of the week. A previous dividend of 15 per cent has been paid, making the total dividend paid by the bank 23.89 per cent.
Source: newspapers

Newspaper Articles (1)

1. September 20, 1933 The Forum Fargo, ND

Article from The Forum, September 20, 1933

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Article Text

Oakes Bank Receiver Is Paying Final Dividend Oakes, N. D.-Ed. Schulenberg, Edgeley, receiver of the Oakes Na. tional bank, has announced he is pay. ing final dividend from that institution of 8.89 per cent, and checks will be delivered at the end of the week. A previous dividend of 15 per cent has been paid, making the total dividend paid by the bank 23.89 per cent.