17893. First National Bank (Barnsdall, OK)

View Charter #11460 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11460
Charter Number
11460
Start Date
June 1, 1926*
Location
Barnsdall, Oklahoma (36.562, -96.162)

Metadata

Model
gpt-5-mini
Short Digest
17c96cbf

Response Measures

None

Receivership Details

Depositor recovery rate
52.7%
Date receivership started
1926-06-22
Date receivership terminated
1931-12-31
OCC cause of failure
Governance
Share of assets assessed as good
55.3%
Share of assets assessed as doubtful
18.1%
Share of assets assessed as worthless
26.6%

Description

The First National Bank of Barnsdall suspended on June 4, 1926 and was placed in the hands of a federal receiver (John H. Dykes). Newspaper items describe liquidation, receiver lawsuits, and dividend payments in 1927 — the bank remained defunct under receivership and did not reopen as an operating bank.

Events (5)
1. September 23, 1919 Chartered
Source
historical_nic
2. June 1, 1926* Receivership
Newspaper Excerpt
John H. Dykes, Receiver. (Receiver statements and actions described; receiver filed suits against debtors and is liquidating the bank.)
Source
newspapers
3. June 4, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent with large bills receivable and liabilities exceeding assets at suspension; receiver appointed to liquidate affairs.
Newspaper Excerpt
Statement of condition of the First National Bank of Barnsdall, Oklahoma, as of the date of its suspension June 4th, 1926
Source
newspapers
4. June 22, 1926 Receivership
Source
historical_nic
5. August 26, 1927 Other
Newspaper Excerpt
A second dividend of 20 per cent to all creditors of the defunct First National bank of Barnsdall is be paid today by federal national bank receiver ... bringing total paid now up to 45 per cent.
Source
newspapers

Newspaper Articles (8)
1. July 15, 1926 The Barnsdall Times Barnsdall, OK
Article from The Barnsdall Times, July 15, 1926

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Article Text

BANK RECEIVER OPENS FIRE Halls B. Watkins Into Court Two Sults and Injunction Last Monday John H. Dykes, rethe defunct First National Bank in this city, filed two suits against Watkins in the federal court at Tulsa on promissory note for $2,050.00 and $220.00 attorney's fees, alleging fraudulent conveyance of property and asking the court for judgment at law and praying for restraining order to prevent the property being further conveyed by coming into the hands of innocent third parties. The plaintiff bank in its petitions alleges that prior to June 23, 1926, Watkins was the owner of 160 acres of land in Cleveland county, Oklahoma, and on June 23. 1926, did convey same to his brother, Watkins, without fair and valuable consideration and that said convey ance was made in bad faith for the purpose of hindering. delaying and defrauding the receiver from collecting said unsecured note. The plainLiff bank also alleges that by such transfer of property the defendant, Watkins, did make himself insolvent, and plaintiff prays that the deed of conveyance be set aside by the federal court and be declared fraudulent and void and that temporary injunction be issued by said court restraining defendants from further conveying said property. At the same time suit at law was instituted wherein the plaintiff bank asks for judgment on the note with Interest. costs and attorney fees. While no mention of it is made in either of the plaintiff's suits, the records of Osage county show that on June bill of sale from Watkins to his wife. Laura E. Watkins, was filed, purporting to have been executed on May 17, 1926, transferring his personal business property to his wife. The records also show that the business building occupied by B. Watkins was also deeded to his wife, Laura E Watkins, about the same time. A National Bank Receiver. being officer of the United States, may either the state courts Dykes, the receiver, that he uses the federal courts almost exclusively. If action is filed against the receiver in the state court the receiver may remove the case to the federal court. While attorney has yet been appointed for the bank, the receiver under his emergency authority employed Thos. Casey to bring these actions as an example to what other debtors may expect in case of similar conduct.

2. July 15, 1926 The Barnsdall Times Barnsdall, OK
Article from The Barnsdall Times, July 15, 1926

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Article Text

THE FIRST NATIONAL BARNSDALL, OKLAHOMA JOHN H. DYKES, Receiver Statement of condition of the First National Bank of Barnsdall, Oklahoma, as of the date of its suspension June 4th, 1926: Bills receivable $182,434.89 Cash on hand 1,436.63 Assets other than bills receivable and cash on hand Total $329,696.68 Liabilities unsecured $263,985.03 Deposits secured by pledge assets the bank aggregating $39,250.00 as collateral 30,961.82 Bills payable. secured by pledge of assets of the bank aggregating $8,057.50 as collateral 7,500.00 Total $302,446.85 The above statement is correct. John H. Dykes, Receiver.

3. July 15, 1926 The Barnsdall Times Barnsdall, OK
Article from The Barnsdall Times, July 15, 1926

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Article Text

May Establish New Bank In Barnsdall At meeting last Thursday night of the depositors of the First National Bank of Barnadall. Receiver John H. Dykes stated to those present that his opinion would be impractical to re-organize the defunct bank. Mr. offered his services in starting new bank, and with his experience, If another bank was wanted in the city, would save needless expense in getting started. paper has been started. hearing the names of number of men interested in another financial institution in the city. The name has been given as the Exchange National Bank of Barnsdall, and some sixty shares have already been subscribed. R. Elliott has the paper at his store, and anyone wishing to subscribe stock can do so by signing on the dotted line. There no doubt that another bank in the city would prosper if financed and officered by men who have the confidence of the people

4. January 27, 1927 The Collinsville News Collinsville, OK
Article from The Collinsville News, January 27, 1927

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Article Text

RECEIVER OPENS FIRST NATIONAL CONSOLIDATED WITH OTHER INSOLVENT BANKS DYKES IS IN CHARGE Liquidated Parsons, Kan., Bank 100 Per Cent Plus 6 Per Cent Interest There has been considerable quandary since the closing of the First National Bank concerning its re-opening The bank is now open under the direction of John H. Dykes, the receiver, who with his assistants consisting of J. H. Smith, L. E. Bredine, E. F. Bollinger and Miss Kathryn Klotzbach, will endeavor to liquidate the bank in speedy manner and make as little loss to the depositors as possible. Mr. Dykes is also ceiver for the Nowata National Bank, the First National Bank of Sapulpa, and the First National Bank of Barnsdall. He is national bank receiver by profession. This is the sixth insolvent national bank that he has liquidated, the first bank being the Farmers National bank at Parsons, Kansas, which he liquidated 100 per cent to the creditors plus 6 per cent interest on their money. Mr. Dykes will make his headquarters in Collinsville and handle all the banks from this point. The Comptroller of Currency in the interest of economy consolidates failed banks under one receiver as in this instance,, and the receiver is paid a flat salary per year to handle as many as he can. Mr. Dykes states that the creditors of the First National are fortunate in this respect as his salary is just the same now with four banks as it was with three before he was placto ed in charge of the local institution. All debtors are urged to call for an interview with Mr. Dykes at once. Those having property left in safekeeping should call for the same immediately as the receiver will not be responsible for it. All depositors may call at the bank and obtain their cancelled checks and statements and prove up their claims. Mr. Dykes appears to be very congenial person but under the condition it makes it necessary for him to be a bit "hard boiled" if the case necessitates. He has the power of both federal and state courts to enforce the collection of debts due the bank. He appears to want to be fair with those having notes with the bank and would like to have them call and Total make arrangements to take care of their paper at once. The News gets the impression that he expects to be fair with those who wish to be fair Deposits with the bank. pledge Collinsville is getting the reputation of having the coolest headed people possible. They have not beDeposits come excited about the losing of any of the industries and there was no great excitement apparent when the last calamity hit the town, although some of the business firms have been compelled to postpone payments to their wholesale houses on this ac849.10 count. However, that is the only thing they could do for any demonTotal strations of violence to any one would not get their money for them any sooner. ter is good as well as vocalist, having played saxaphone and bass in the local bands while merely boy. In fact he started in the boys band organized by the News editor the year the war took all the older band men into the service and boys were all that were left to make up a band. This band was very popular at the Confederate Veterans reunion held at Tulsa that year, and at which time Collinsville was well advertised by her bands. The News is surely glad to see these young musicians making good at their work It only proves that many of our young people at the present time are wasting opportunity by not taking up something useful in their spare time.

5. August 27, 1927 Tulsa World Tulsa, OK
Article from Tulsa World, August 27, 1927

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Article Text

DEPOSITORS PAID AGAIN BARNSDALL, Aug. 26 (Special) A second dividend of 20 per cent to all creditors of the defunct First National bank of Barnedall is be- paid today by federal national bank receiver for northeastern Oklahoma. The bank closed in first dividend of per cent paid last December, bringing total paid now up to 45 per Robert B. Keenan torney for the receiver.

6. September 1, 1927 The Barnsdall Times Barnsdall, OK
Article from The Barnsdall Times, September 1, 1927

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Article Text

More Than 600 Checks Are Paid By Bank Receiver John Dykes, receiver of the First National Bank of Barnadall. will be in his office at the Barnsdall State Bank tomorrow (Friday) from noon until the bank closes in the afternoon and also next Tuesday from to finish paying off the second dividend of twenty per cent. which he did complete last Friday and Saturday, Certificates can only presented the parties whose name they drawn. Every person must hold their own receiver's certificate. one person cannot draw for another, even though husband and wife. as government checks can only be delivered the payee or else mailed to the payee. Those people out of town those who are unable to call at the office person for their checks, should mail their receiver's certificate to the First National Bank of Barnsdall and their check will be forwarded to them immediately. Those who have lost their receiver's certificate cannot draw any dividends at this time. but must wait until the receiver has disposed persons who do certificates to draw claims on. Persons who have lost their receiver's certificate must post indemnity bonds double the amount to the receiver, before any dividend can be drawn. consequently all parties should first make thorough search before claiming their certificate is lost. The receiver stated that over 600 checks were delivered by him in Barnsdall last Friday and Saturday The only notice the community had of this was the Item in the Barnsdall Times last Again say pays to advertise." demonstrates the way in which this paper read by the community.

7. September 4, 1927 Pawhuska Journal-Capital Pawhuska, OK
Article from Pawhuska Journal-Capital, September 4, 1927

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Article Text

Barnsdall Bank Receiver Finishes Payments Tuesday John P. Dykes, receiver of the First National Bank at Barnsdall will finish paying off the second dividend of twenty percent, Tuesday in the defunct bank's affairs. Certificates can only be presented by the parties in whose name they are drawn. People out of town or those who are unable to call at the office in person for their checks, should mail their receiver's check to the First National Bank of Barnsdall and their check will be forwarded to them im-

8. January 24, 1929 The Barnsdall Times Barnsdall, OK
Article from The Barnsdall Times, January 24, 1929

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Article Text

JOHN H. DYKES RESIGNS AS BANK RECEIVER John H. Dykes, receiver of the defunct First National Bank of Barnsdall, has resigned and also relinquished his other receiverships. He has been succeeded by Harwood Keaton of Okmulgee. who an experienced receiver also Mr. Dykes is leaving in few days for Hollywood, California, where he will go into the finance game. He there last summer and liked well he could not resist the opportunity afforded him that time and said that he would never have came back had not been that wanted to show off the 244-pound fish he caught there. His assistant, Bredine, entering finance company in Tulsa. Mr. Dykes has been receiver of the defunct First National Bank here for the past two years has made many friends among the people of this community.