First National Bank - Streeter, ND

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 10724
Charter Number: 10724
Start Date: January 29, 1921
Location: Streeter, North Dakota (46.655, -99.354)

Metadata

Model: gpt-5-mini
Short Digest: 0f4898aa

Response Measures

Full suspension

Other: Bank closed temporarily due to withdrawals caused by other local bank failures.

Receivership Details

Date receivership started: 1921-02-16
OCC cause of failure: Losses
Share of assets assessed as good: 97.6%
Share of assets assessed as doubtful: 1.6%
Share of assets assessed as worthless: 0.7%

Description

Article (NY Herald, 1921-01-30) reports steady withdrawals driven by recent local bank closings that produced a reserve deficiency; the bank 'closed to-day' and president called the closing 'only temporary.' No article confirming reopening is provided, so classification is run -> suspension but final outcome uncertain.

Events (6)

1. April 14, 1915 Chartered

Source: historical_nic

2. January 29, 1921 Run

Cause: Local Banks
Cause Details: Withdrawals triggered by recent bank closings in the vicinity led depositors to withdraw funds from this bank
Measures: Bank closed (suspended) to-day; described by president as only temporary.
Newspaper Excerpt: Recent bank closings in this vicinity resulted in steady withdrawals from the First National Bank, creating a deficiency in reserves
Source: newspapers

3. January 29, 1921 Suspension

Cause: Local Banks
Cause Details: Deficiency in reserves caused by steady withdrawals following other local bank closings
Newspaper Excerpt: The First National Bank here closed to-day. ... The closing is only temporary. Such action was decided as prudent, said Mr. Barringer.
Source: newspapers

4. February 16, 1921 Receivership

Source: historical_nic

5. December 4, 1922 Restored To Solvency

Source: historical_nic

6. October 2, 1926 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. January 30, 1921 The New York Herald New York, NY

Article from The New York Herald, January 30, 1921

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Article Text

RUN CLOSES N. D. BANK. Streeter Institution Carried Down by Other Suspensions. STREETER, N. D.,..Jan. 29.-The First National Bank here closed to-day. Recent bank closings in this vicinity resulted in steady withdrawals from the First National Bank, creating a de ficiency in reserves, according to W. E. Barringer, president. "The closing is only temporary. Such action was decided as prudent," said Mr. Barringer. The bank has capital and surplus of $30,000.