American State Bank - Boynton, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 1, 1933*
Location: Boynton, Oklahoma (35.649, -95.656)

Metadata

Model: gpt-5-mini
Short Digest: 1a4c8d2f

Response Measures

None

Description

Article states the failed American State bank of Boynton became insolvent in May 1933 and is paying dividends from receivership. No run is mentioned; the bank failed and remains in receivership/closed.

Events (2)

1. May 1, 1933* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank became insolvent in May 1933 leading to failure/suspension of payments.
Newspaper Excerpt: The bank, which became insolvent in May, this year,
Source: newspapers

2. December 15, 1933 Receivership

Newspaper Excerpt: Coming as a real Christmas present to depositors of the failed American State bank of Boynton, a 20 percent dividend for December 20 was approved yesterday by the district court here. The bank, which became insolvent in May, this year, already has paid dividends totalling 30 percent. The payment ordered on approval of Judge Enloe V. Vernor, calls for about $4000. At the same time, Judge Vernor granted the application of W. J. Barnett, state bank examiner, to sell ... $1000 bond ... held among the bank's assets.
Source: newspapers

Newspaper Articles (1)

1. December 15, 1933 Muskogee Daily Phoenix and Times-Democrat Muskogee, OK

Article from Muskogee Daily Phoenix and Times-Democrat, December 15, 1933

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Article Text

DEPOSITORS TO RECEIVE DIVIDEND FOR CHRISTMAS Coming as a real Christmas present to depositors of the failed American State bank of Boynton. a 20 percent dividend for December 20 was approved yesterday by the district court here. The bank. which became insolvent in May, this year, already has paid dividends totalling 30 percent. The payment ordered on approval of Judge Enloe V. Vernor, calls for about $4000. At the same time, Judge Vernor granted the application of W. J. Barnett, state bank examiner, to sell for $500 to the town of Tecumseh $1000 bond of that municipality held among the bank's assets.