14461. First Territorial Bank (Lovington, NM)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 1, 1921
Location
Lovington, New Mexico (32.944, -103.349)

Metadata

Model
gpt-5-mini
Short Digest
ba54210e

Response Measures

None

Description

The bank suspended business and a state-appointed receiver was designated; no run is mentioned in the articles. Closure appears to be by state banking authorities (government action).

Events (2)
1. November 1, 1921 Suspension
Cause
Government Action
Cause Details
State bank examiner announced the closing and the state bank examiner's office designated a receiver.
Newspaper Excerpt
LOVINGTON BANK SUSPENDS. ... R. R. James, former cashier, has been designated by the state bank examiners's office as receiver for the First Territorial bank. of Lovington, which has suspended business.
Source
newspapers
2. November 11, 1921 Receivership
Newspaper Excerpt
R. R. James, former cashier, has been appointed receiver of the First Territorial bank at Lovington, the closing of which was announced recently by State Bank Examiner James B. Read. The latter stated that the bank ... had total resources, when it closed, of $431,000, including $60,000 capital stock and surplus of $25000. Note: long OCR duplication in second snippet; trimmed here in events list quote for clarity.
Source
newspapers

Newspaper Articles (2)
1. November 1, 1921 The Evening Herald Albuquerque, NM
Article from The Evening Herald, November 1, 1921

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Article Text

LOVINGTON BANK SUSPENDS. SPECIAL TO THE HERALD SANTA FE. Nov. 1.-R. R. James. former cashier, has been designated by the state bank examiners's office as receiver for the First Territorial bank. of Lovington, which has suspended business.

2. November 11, 1921 New Mexico State Record Santa Fe., Santa Fe, NM
Article from New Mexico State Record, November 11, 1921

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Article Text

LEA R. R. James, former cashier, has been appointed receiver of the First Territorial bank at Lovington, the closing of which was announced recently by State Bank Examiner James B. Read. The latter stated that the bank, which formerly had more than $500000 deposits, had total resources, when it closed, of $431,000, including $60,000 capital stock and surplus of $25000.