15845. Peoples Bank & Trust Company (Wann, OK)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
trust
Start Date
July 1, 1922*
Location
Wann, Oklahoma (36.915, -95.804)

Metadata

Model
gpt-5-mini
Short Digest
c406328a4f39a673

Response Measures

None

Description

Newspaper reports (Aug 1922) state an excessive run forced the bank to close after a rumor that most assets were in a Bartlesville bank which had failed. The bank was sold and reorganized and 'will commence business' under new control, indicating reopening after suspension. No evidence of insolvency beyond the run-induced closure.

Events (4)
1. July 1, 1922* Run
Cause
Rumor Or Misinformation
Cause Details
Rumor that most of its assets were in a Bartlesville bank which had failed.
Measures
Bank was forced to close its doors (suspended payments) following heavy withdrawals.
Newspaper Excerpt
the Peoples Bank & Trust company at Wann, which was forced to close its doors recently on account of an excessive run.
Source
newspapers
2. July 1, 1922* Suspension
Cause
Rumor Or Misinformation
Cause Details
Closure triggered by run caused by rumor tying the bank's assets to a failed Bartlesville bank.
Newspaper Excerpt
was forced to close its doors recently on account of an excessive run.
Source
newspapers
3. August 1, 1922 Other
Newspaper Excerpt
J. M. Vincent, vice president of the First National bank here, has bought the controlling interest in the Peoples Bank & Trust company at Wann ... The reorganized institution will commence business with $15,000 capital ... The bank was not really insolvent, but had to close its doors on account of a rumor ... . (The Morning Tulsa Daily World, Aug. 2, 1922).
Source
newspapers
4. August 1, 1922* Reopening
Newspaper Excerpt
The reorganized institution will commence business with $15,000 capital ... J. M. Vincent ... has bought the controlling interest ... (reported Aug. 1-2, 1922).
Source
newspapers

Newspaper Articles (2)
1. August 2, 1922 The Morning Tulsa Daily World Tulsa, OK
Article from The Morning Tulsa Daily World, August 2, 1922

Click image to open full size in new tab

Article Text

DEFUNCT BANK IS SOLD Nowata Banker Purchases Control of Wann Firm and Reorganizes It. Special to The World. BEGGS. Aug. 1.-J. M. Vincent. vice president of the First National bank here, has bought the controlling interest in the Peoples Bank & Trust company at Wann, which was forced to close its doors recently on account of an excessive run. The reorganized institution will commence business with $15,000 capital, $5,000 more than the former bank had. The bank was not really insolvent, but had to close its doors on account of a rumor that most of its assets were in a Bartlesville bank which had failed,

2. August 4, 1922 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, August 4, 1922

Click image to open full size in new tab

Article Text

Defunct Bank Is Sold BEGGS.-J. M. Vincent, vice president of the First National Bank here, has bought the controlling interest in the Peoples Bank and Trust Company at Wann, which was forced to close its doors recently on account of an excessive run.