Wells State Bank - Wells, NV

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 1, 1922*
Location: Wells, Nevada (41.112, -114.964)

Metadata

Model: gpt-5-mini
Short Digest: b9f122c8

Response Measures

None

Description

Article (The Silver State, 1922-01-21) reports the Wells bank closed its doors last week and that citizens have reorganized and subscribed $25,000 to open a new bank in the old building under new management. No run or heavy withdrawals are described; cause of the closure is not stated in the article (OCR shows 'Badt bank' which is an OCR error).

Events (2)

1. January 1, 1922* Suspension

Cause Details: Article does not state the reason for the bank's closing; simply notes it closed its doors last week.
Newspaper Excerpt: reorganization of the Wells bank which closed its doors last week
Source: newspapers

2. January 21, 1922 Reopening

Newspaper Excerpt: plans are well under way for the reorganization ... the new bank will be opened very shortly in the old bank building. The new bank will have a new management entirely independent of the one that ruled the ... bank. $25,000 has been subscribed by the Wells citizens.
Source: newspapers

Newspaper Articles (1)

1. January 21, 1922 The Silver State Winnemucca, NV

Article from The Silver State, January 21, 1922

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Article Text

WELLS IS TO HAVE BRAND NEW BANK W. H. Supp, one of the leading merchants of Wells, and an applicant for the post office at that place, is in town today and tells us that plans are well under way for the reorganization of the Wells bank which closed its doors last week, says the Elko Free Press. The movement is being headed by Dr. Olmstead, of Wells, assisted by Gilbert C. Ross, state bank examiner, and already $25,000 has been subscribed by the Wells citizens. The stockholders of the old bank have assigned all their interests to the new concern and with the added funds the new bank will be opened very shortly in the old bank building. The new bank will have a new management entirely independent of the one that ruled the Badt bank. This will be good news to the people of Elko county and to the people of the entire eastern part of the state as it demonstrates in the most forceful manner that the community is solid financially and that the resources of the old bank are worth considerably more than is usual when concerns of this nature close their doors.