First National Bank - Fort Sumner, NM

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8617
Charter Number: 8617
Start Date: April 17, 1928
Location: Fort Sumner, New Mexico (34.472, -104.246)

Metadata

Model: gpt-5-mini
Short Digest: cf88909d

Response Measures

None

Receivership Details

Depositor recovery rate: 60.4%
Date receivership started: 1924-02-26
Date receivership terminated: 1929-06-30
OCC cause of failure: Economic conditions
Share of assets assessed as good: 51.1%
Share of assets assessed as doubtful: 36.9%
Share of assets assessed as worthless: 12.0%

Description

Article (1928-04-17) states a receiver was in charge of the First National at Fort Sumner. OCR typo 'Fort Summer' corrected to Fort Sumner. No mention of a prior run or reopening; receivership implies permanent closure -> classified as suspension_closure.

Events (3)

1. March 29, 1907 Chartered

Source: historical_nic

2. February 26, 1924 Receivership

Source: historical_nic

3. April 17, 1928 Receivership

Newspaper Excerpt: Mr. McKinney was receiver for five national banks ... the First National at Fort Summer.
Source: newspapers

Newspaper Articles (1)

1. April 17, 1928 The Santa Fe New Mexican Santa Fe, NM

Article from The Santa Fe New Mexican, April 17, 1928

Click image to open full size in new tab

Article Text

NEW BANK RECEIVER McKinney, for some time receiver of several defunct banks in New Mex. leo, including the First National and Carlsbad National; of this city, was last week succeeded by A. F. RawlIngs, a national bank receiver who for some time has had charge of the at. fairs of the falled First National at Las Vegas, and Springer National bank, of Springer. Mr. McKinney was receiver for five national banks two at Carlsbad and the Citizens National at Roswell, the First National at Mountainair and the First National at Fort Summer.