First National Bank - Stanley, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9472
Charter Number: 9472
Start Date: December 10, 1926
Location: Stanley, North Dakota (48.317, -102.390)

Metadata

Model: gpt-5-mini
Short Digest: e0c3b67d

Response Measures

None

Receivership Details

Depositor recovery rate: 42.0%
Date receivership started: 1926-12-15
Date receivership terminated: 1930-03-12
OCC cause of failure: Economic conditions
Share of assets assessed as good: 25.7%
Share of assets assessed as doubtful: 51.9%
Share of assets assessed as worthless: 22.4%

Description

Articles indicate the First National Bank of Stanley was closed and in the hands of a receiver by December 10, 1926; later proceedings to liquidate remaining assets are described. No article describes a depositor run. An embezzlement indictment (money alleged taken Dec 10, 1926) was brought in 1928 regarding actions while the bank was in receivership.

Events (5)

1. July 1, 1909 Chartered

Source: historical_nic

2. December 10, 1926 Receivership

Newspaper Excerpt: while that institution was in the hands of the receiver.
Source: newspapers

3. December 10, 1926 Suspension

Cause: Government Action
Cause Details: Bank was placed in hands of a receiver (suspension of normal operations/closure).
Newspaper Excerpt: while that institution was in the hands of the receiver.
Source: newspapers

4. December 15, 1926 Receivership

Source: historical_nic

5. October 10, 1928 Other

Newspaper Excerpt: Dorothy H. Fenstermacher was arrested ... on charges of embezzling funds from the First National bank at Stanley while that institution was in the hands of the receiver.
Source: newspapers

Newspaper Articles (2)

1. October 10, 1928 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, October 10, 1928

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Article Text

# Bismarck Woman to Face Embezzlement Charges Here Soon Dorothy H. Fenstermacher was arrested here yesterday by Jacob Rothschiller, Fargo, deputy United States marshal, on charges of embezzling funds from the First National bank at Stanley while that institution was in the hands of the receiver. It is charged in an indictment, returned by a federal grand jury at Fargo last month, that while a clerk and stenographer in the bank, the defendant embezzled $1,040. The money is alleged to have been taken December 10, 1926. When ar-

2. December 8, 1929 Grand Forks Herald Grand Forks, ND

Article from Grand Forks Herald, December 8, 1929

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Article Text

Affairs of Closed Bank Of Stanley are Concluded Senator Hamilton Is Speaker at Granville wind the agairs of the defunct First National Bank, Andrew Foley vertised the sale of the remaining assets the bank at public auction here Dec. the Foley will close the trust and declare the final 10. 1926 since which 30 per cent dividends has been paid Mr. Foley has been in since June, 1928, succeeding P. E. Severson. Granville, Dec. 7.-Senator D H Hamilton, recently named member of the board of directors of the North Dakota division of the Farm ers Union, addressed meeting of the Granville unit of the Union on the national convention of the ganization at Omaha which he attended Other speeches were given by S M. finnson, Hughes in structor in the local school and President E. E. Hamilton. Math Eidsnes acted as chairman of the session.