First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9441
Charter Number: 9441
Start Date: January 1, 1921*
Location: Hope, New Mexico (32.810, -104.733)

Metadata

Model: gpt-5-mini
Short Digest: fea4565f

Response Measures

None

Receivership Details

Depositor recovery rate: 13.4%
Date receivership started: 1922-10-30
Date receivership terminated: 1926-06-15
OCC cause of failure: Fraud
Share of assets assessed as good: 72.0%
Share of assets assessed as doubtful: 5.6%
Share of assets assessed as worthless: 22.4%

Description

Article (Mar 5 1925) states G. H. Sellmeyer is liquidating assets of the First National Bank of Hope, which went under in the financial panic of 1921. No run is described; the bank is defunct and in receivership/liquidation. I infer the failure occurred during the 1921 panic (recorded as 1921-00-00).

Events (3)

1. June 11, 1909 Chartered

Source: historical_nic

2. January 1, 1921* Receivership

Newspaper Excerpt: G. H. Sellmeyer, who is liquidating the assets of the First National Bank of Hope, the first bank of Eddy county to go under in the financial panie of 1921.)
Source: newspapers

3. October 30, 1922 Receivership

Source: historical_nic

Newspaper Articles (1)

1. March 5, 1925 Carlsbad Current-Argus Carlsbad, NM

Article from Carlsbad Current-Argus, March 5, 1925

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Article Text

SELLMEYER RECEIVER OF ANOTHER BANK Receiver of Defunct Banking Institutions at Carlsbad, Hope and Lovington Will Close Affairs of National Bank of Carlsbad. G. H. Sellmeyer. who is liquidat ing the assets of the First National Bank of Hope, the first bank of Eddy county to go under in the financial panie of 1921.) the First" ions: likewise. the jump from the National of Lovington and the First window is an unusually long one National of this city. was this week and in making his escape the man asked to finish the work of Recei Collins is said to have lighted ver McConhie in liquidating the squarely in front of passing assets of the National Bank of woman. who screamed and ran the Carlsbad which closed its doors other way Collins rolling across January 2nd. 1924 and has taken the payement and onto the lawn. the Receiver McConhie go to escape until about 12 o'clock the Clarksville Texas. where he will same night."and at once tonk up he net as receiver of a bank of that hunt for trace of the escaping men. place which recently closed its but after- continuing the search doors. and unless a failed bank at over Tuesday returned and have Bogata Texas, near Clarks ille. is no trace of any of the prisoners reorganized. will also act as receiver except the reported arrest of two for a failed bank in the last named Mexicans at Van Texas city Sam Lusk who has been assistant to Mr. McConhie in his receivership here, will accompany the latter to Clarksville, and both gentlemen and their families expect to leave for Clarksville the latter part of this week, or first of next week The taking over of the assets of the National Bank of Carlsbad by Mr. Sellmeyer in connection with his receivership of the other three, will materially reduce the expense of administration of the affairs of the failed bank, the liquidation of which will probably go on over period of years. A very regretable feature con- trousers nected with the change in receivers is the necessity for removal from Carlsbad of Mr McConhie and Sam Lusk and their families, Mr. and Mrs. McConhie having made host of warm personal friends during their residence of year, while Sam has lived among us all his life and his moving will be source ment. of keen regret among his life-long associates. for all are his personal friends. The Argus wishes both BILL men and their families a pleasant stay in their, new location. Scott Etter. of Carlsbad. was made foreman of the United States grand jury which convened at Santa Fe the first of the week. Died. Thursday night of last week at Eddy County Hospital. Cecil A White. of Columbus. Ohio. of tuberculosis The remains were taken to his home town for burial, aceompanied by his mother who was with him at the time of his death The deceased came to Carlabad about two weeks ago seeking relief from the dread disease from which he died.