First National Bank - Steele, ND

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 8997
Charter Number: 8997
Start Date: November 19, 1926
Location: Steele, North Dakota (46.855, -99.916)

Metadata

Model: gpt-5-mini
Short Digest: d136f0d0

Response Measures

Full suspension

Receivership Details

Date receivership started: 1926-11-23
OCC cause of failure: Economic conditions

Description

Article (Bismarck Tribune, 1926-11-23) reports 'excessive withdrawal of deposits' and that the board 'closed' the bank Friday to protect depositors from a possible run. It does not state whether the closing was temporary or permanent, or mention a receiver. Classified as a run leading to suspension, with outcome unclear.

Events (6)

1. January 22, 1908 Chartered

Source: historical_nic

2. November 19, 1926 Run

Cause Details: Excessive withdrawals by depositors (article does not specify cause such as rumor or correspondent failure).
Measures: Board of directors closed the bank to protect depositors from a possible run.
Newspaper Excerpt: The First National bank... was closed by the board of directors because of excessive withdrawal of deposits Friday.
Source: newspapers

3. November 19, 1926 Suspension

Cause Details: Bank closed by its board due to excessive withdrawals; described as a protective measure rather than a government receivership.
Newspaper Excerpt: The First National bank... was closed by the board of directors because of excessive withdrawal of deposits Friday.
Source: newspapers

4. November 23, 1926 Receivership

Source: historical_nic

5. August 17, 1927 Restored To Solvency

Source: historical_nic

6. December 28, 1932 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. November 23, 1926 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, November 23, 1926

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Article Text

STEELE BANK CLOSES Steele, N. D., Nov. 23.-The First National bank, the only one here, was closed by the board of directors because of "excessive withdrawal of deposits" Friday. The officials explained that the bank is in good on hand and that the closing of the bank was a step to protect depositors from a possible run. There is no great excitement here, depositors having full confidence in the institution's management.