First National Bank - Clovis, NM

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 8784
Charter Number: 8784
Start Date: June 13, 1914
Location: Clovis, New Mexico (34.405, -103.205)

Metadata

Model: gpt-5-mini
Short Digest: de80b26e

Response Measures

Public signal of financial health

Receivership Details

Depositor recovery rate: 29.0%
Date receivership started: 1924-02-20
Date receivership terminated: 1927-09-30
OCC cause of failure: Economic conditions
Share of assets assessed as doubtful: 100.0%

Description

Article (dated June 13, 1914) describes an incipient run caused by a false report that the bank was closed after a depositor, unaware of new closing hour, spread the rumor. Neighboring banks and business interests quelled the run. No suspension or receivership mentioned.

Events (3)

1. July 6, 1907 Chartered

Source: historical_nic

2. June 13, 1914 Run

Cause: Rumor Or Misinformation
Cause Details: A depositor, unaware bank hours had been changed to 3 PM, called at 3:15 and spread a report that the bank was closed; described as malicious and false.
Random Run: Yes
Random Run Snippet: Depositor spread report bank was closed; report was false/malicious
Measures: Local business interests and neighboring banks responded quickly to stop the run.
Newspaper Excerpt: Officials of the First National bank here believe that malicious efforts were behind the incipient run which started on the bank Tuesday and which for a short time seriously annoyed the bank force.
Source: newspapers

3. February 20, 1924 Receivership

Source: historical_nic

Newspaper Articles (1)

1. June 15, 1914 The Evening Herald Albuquerque, NM

Article from The Evening Herald, June 15, 1914

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Article Text

BANK OFFICIALS SAY MALICE BEHIND THE ATTEMPT TO CAUSE RUN Clovis, N. M., June 13.-Officials of the First National bank here believe that malicious efforts were behind the incipient run which started on the bank Tuesday and which for a short time seriously annoyed the bank force. Closing hours of the bank recently have been advanced from 4 to 3 o'clock in the afternoon. A depositor, it was said, first called at the bank at 3:15 and not knowing of the new closing rule, spread the report that the bank was closed. A. run started and the business interests and neighbor banks responding quickly, and knowing the sound condition of the institution stopped what might have been a serious run. It is now said the bank officials have evidence that it was not the work of a frightened depositor but a malicious attempt to injure the institution