1456. First National Bank (Rocky Ford, CO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
7082
Charter Number
7082
Start Date
March 1, 1924*
Location
Rocky Ford, Colorado (38.053, -103.720)

Metadata

Model
gpt-5-mini
Short Digest
c71aa398

Response Measures

Capital injected, Full suspension

Other: Comptroller of the Currency appointed a receiver; reorganization mentioned.

Receivership Details

Depositor recovery rate
70.5%
Date receivership started
1924-04-05
Date receivership terminated
1928-09-30
OCC cause of failure
Governance
Share of assets assessed as good
41.5%
Share of assets assessed as doubtful
39.0%
Share of assets assessed as worthless
19.5%

Description

Contemporary articles report a run and heavy withdrawals in mid-March 1924; citizens raised $50,000 and reopening was anticipated. By April 17, 1924 the Comptroller of the Currency had appointed a receiver, indicating the bank was placed in receivership (government action) and did not simply continue operating. I classify this as run leading to suspension/closure with receivership. Dates are taken from newspaper publication dates; exact day of the run is not stated.

Events (5)

1. January 2, 1904 Chartered
Source
historical_nic
2. March 1, 1924* Run
Cause Details
Heavy withdrawals (run) are reported; article does not specify a triggering rumor, correspondent failure, or adverse bank-specific scandal.
Measures
Local citizens and the bank president raised $50,000 to add to the bank's funds to enable reopening.
Newspaper Excerpt
First National Ford. - which closed volRocky Ford, and heavy within a Bank Rocky of following a run few untarily, will re-open by Boon Best. days, it was institution. was withdrawals.
Source
newspapers
3. March 20, 1924 Other
Newspaper Excerpt
A group president raised $50,000 and this It of citizens bank's funds. as added to is felt, the will be sufficient to sum. reopening.
Source
newspapers
4. April 5, 1924 Receivership
Source
historical_nic
5. April 17, 1924 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency appointed a receiver after the bank closed its doors; indicates formal suspension/receivership.
Newspaper Excerpt
Earl Haskins of La Junta has been appointed by the Comptroller of Currency as receiver for the First National Bank of Rocky Ford the financial Institution which recently closed its doors.
Source
newspapers

Newspaper Articles (2)

Article from The Arvada Enterprise, March 20, 1924

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Article Text

LATE NEWS From All Over o COLORAI DO been Ault.-Roy McWilliams postmaster has at Ault. to be team, boys won nominated Delta.-Fruita a great comeback, basketball title by the deand staging Western Slope basketball 24 to 21. in the tourna- final feating feature Gunnison, game of the Slope from received ment. Denver.- A telegram the United States chief forester of Coolldge had executive est to the announced signed the an that Battlement President order National changing For- For the name of the Grand Mesa National by est. Denver.- At a fur bureau sale conducted of biological state the United conjunction States with the commis survey of in live stock inspection by governboard 155 skins collected sold to E. A. Stesioners, hunters were whose bid of phens ment $1,209.40 & was Co. of the Denver, highest of five which Comwere received. The Department announces, of for Denver.- at Washington preliminary merce state of Colorado, its Dec. 31. 1922, estimate the of the value. forms of wealth. the as of the principal to $3,220,352,000. 1912, compared total amounting with of 40.9 $2,291,614,000 per cent. Per in to capi- $3. an increase values increased from $2,674 285, ta or 22.8 per The cent. First National Ford. - which closed volRocky Ford, and heavy within a Bank Rocky of following a run few untarily, will re-open by Boon Best. days, it was institution. was withdrawals. of the announced which A group president raised $50,000 and this It of citizens bank's funds. asadded to is felt, the will be sufficient to sum. reopening. sure Morgan.-A paved Merino, highway Hillrose asFort through seems to of a in and from Brush Sterling, with the Fort acceptance Morgan system between route sured, the county. Brush for the and last Merino gap engineers in Logan under who the has diState highway William Lewis. making route opened rection an of office in Brush, of the are accepted cross-section between surveys Brush and Hillrose perMorgan Denver.- county. wedding of ceremony members of formed in the presence few intimate friends family and a former govA. Mrs. Louis of Colorado. Fort Collins. at Crose, bride's the ernor united formerly George of Carlson, and mother. apart- Mrs. the A. The A. Robert home Frank of Avery, the ceremony in the Kilbourne was performed Pollock. pastor church. ments. by the Rev. of the Dr. First United Presbyterian Denver.- cut total from of the 54,300 forests were Christmas of used Colo- in trees and were 47,400 of holiday them period. the acrado during the compiled by DenDenver to figures service in numver, United cording made States public force forester. by M. W. Of Thompson, this in Denassistant district retailed forher were about cut 5,500 on remainder trees the Pike were National obtained est, ver while the lands in the mountains from private Denver. a ndJacent Denver.- to AS the Denver climax of streets a chase and through downtown full sight of hundreds Nel bandit gun battle in Lawrence Clifford gang of pedestriansimber alleged Denver of a for the last terrorized and his month, Eugene Charles with 11 panion. was shot Arthur son, that has was Nelson fatally shot. Patrolman Vos was com- gun riot ar Wachter, gun rested. in the hands when of he shoot pulled the his officer he had from C. his pocket been to cornered with Vos after a police automobile. of Dennis by Denver.-The ploneer The Denver estate president business of man the Sheedy, financier. and will be Dry under the nnDenver and $175,000 Goods Company. state to an inherittaxed according department. tax law8, the tax inance nouncement by the estate, which In the Denver Dry The cluded value n controlling of Goods interest Company. was at $3,840,000. basby listed Boulder.- Windsor high the school Windsor ketball team. backed squad of more than the and n rooting Windsor fans. won frenzied at the hand 200 championship which came state to high the state tournament. defeated here. when to 13. school close team 31 they Windsor days of Canon City the entire three and as went through losing a game, on the play without captured the second which leg repreresult loving cup, the Colorado sents large the silver championship basketball of and which times high schools in three consecutive won the be taken They also must be retained. a permanent trophy. for Spalding to cup 118 the cup offered shield Canon City wins well as a bronze runnersup as for second place. The We Grande


Article from The Holly Chieftain, April 17, 1924

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Article Text

LA JUNTA MAN RECEIVER FOR ROCKY FORD BANK Earl Haskins of La Junta has been appointed by the Comptroller of Currency as receiver for the First National Bank of Rocky Ford the financial Institution which recently closed its doors. This indicates that there will be a thorough reorganization of the bank before It opens up for busl ness. No definite statement has been made concerning the future of the institution.