First National Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 7743
Charter Number: 7743
Start Date: November 14, 1932
Location: Elko, Nevada (40.832, -115.763)

Metadata

Model: gpt-5-mini
Short Digest: 782fe988

Response Measures

None

Description

The First National Bank of Elko had been closed during a local/state banking moratorium (a banking holiday) for about two weeks and then reopened on Nov 14, 1932. The article explicitly states there was no run. Cause of suspension is a banking moratorium/government action.

Events (5)

1. May 16, 1905 Chartered

Source: historical_nic

2. November 14, 1932 Other

Newspaper Excerpt: No restriction was placed on checking accounts. the depositors being free to withdraw all or any part of such accounts. In savings accounts the mustomary notification requirement was asked. Any emergency which might have deyeloped was prepared for by the bank officers. Bundles of money, wrapped in bales of hay, had arrived from Salt Lake City
Source: newspapers

3. November 14, 1932 Reopening

Newspaper Excerpt: With bundles of money ready for any pay off demanded the First National Bank of Elko opened for business today, breaking a banking holiday ... only a handful of persons were on hand when the doors swung open. giving Elko banking facilities for the first time since the banking moratorium was declared
Source: newspapers

4. November 10, 1936 Voluntary Liquidation

Source: historical_nic

5. * Suspension

Cause: Government Action
Cause Details: Banking moratorium/banking holiday in effect for about two weeks prior to reopening
Newspaper Excerpt: the First National Bank of Elko opened for business today, breaking a banking holiday which has prevailed here
Source: newspapers

Newspaper Articles (1)

1. November 15, 1932 Nevada State Journal Reno, NV

Article from Nevada State Journal, November 15, 1932

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Article Text

Elko Bank Had Bundles of Money Ready for Opening Yesterday But Only Handful Asked to Withdraw ELKO, Nov. 14. (UP) With bundles of money ready for any "pay off demanded the First National Bank of Elko opened for business today, breaking a "banking holiday which has prevailed here Only a handful of persons were on hand when the doors swung open. giving Elko banking facilities for the firs. time since the banking moratorium was declared Business was heavy for a time as had been anticipated. but there was no run. The Henderson Bank here a Wingfield institution. remained closed. No restriction was placed on checking accounts. the depositors being free to withdraw all or any part of such accounts. In savings accounts the mustomary notification requirement was asked. Any emergency which might have deyeloped was prepared for by the bank officers. Bundles of money, wrapped in bales of hay. had arrived from Salt Lake City Some were labeled $5.000, some $10,000 and a few $25,000. It wasn't neces. sary to break many of the bindings, however. as only the money necessary for usual business practice was withdrawn. The First National is independent of the Wingfield chain. It took advantage of the banking moratorium for the first two weeks with the result that the city was bankless, the other financial institution being a Wingfield bank. The First National, however. declined to remain closed in keeping with the two weeks extension of the moratorium and opened for business as usual this morning.