Farmers National Bank - Chandler, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12060
Charter Number: 12060
Start Date: March 23, 1925
Location: Chandler, Oklahoma (35.702, -96.881)

Metadata

Model: gpt-5-mini
Short Digest: 32c56978

Response Measures

None

Receivership Details

Depositor recovery rate: 56.0%
Date receivership started: 1925-04-10
Date receivership terminated: 1928-02-29
OCC cause of failure: Fraud
Share of assets assessed as good: 30.9%
Share of assets assessed as doubtful: 41.6%
Share of assets assessed as worthless: 27.5%

Description

The articles describe the Farmers National Bank of Chandler going into failure/suspension (failure dated the 23rd day of last March = 1925-03-23) and being placed in the hands of a receiver (Vance). Multiple dividend payments are reported by the receiver, but the bank remains in receivership and has not reopened as a going bank in the articles. No bank run is described; the cause is insolvency/bank-specific adverse information.

Events (6)

1. December 8, 1921 Chartered

Source: historical_nic

2. March 23, 1925 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank went into failure/insolvency and suspended payments on March 23, 1925 (institution described as failed/insolvent).
Newspaper Excerpt: the failure of the institution the 23rd day of last March.
Source: newspapers

3. April 10, 1925 Receivership

Source: historical_nic

4. February 12, 1926 Receivership

Newspaper Excerpt: Vance, newly appointed receiver for the National bank of this city, has taken charge of bank and given evidence of being the right man to handle its affairs.
Source: newspapers

5. March 5, 1926 Other

Newspaper Excerpt: the Farmers National Bank is this week passing dividend checks to the depositors in the failed bank the amount another 15 per cent, the second payment of the kind to be made since the failure of the institution the 23rd day of last March.
Source: newspapers

6. October 8, 1926 Other

Newspaper Excerpt: Vance receiver for the Farmers National bank of this city out with another statement of the bank's affairs...three dividends have been paid the depositors and looks like another small one coming.
Source: newspapers

Newspaper Articles (3)

1. February 12, 1926 The Chandler News-Publicist Chandler, OK

Article from The Chandler News-Publicist, February 12, 1926

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Article Text

BANK RECEIVER REPORT Vance, newly appointed ceiver for the National bank of this city, has taken charge of bank and given evidence of being the right man to handle its affairs. The following statement pared by him of the bank's true dition at time of its insolvency and the close of the year the first information given to the public since its failure nearly year ago. Before giving this to the press the and had no of comment to make what had been done the past but outlined his plans for the future handling Mr. Vance made his position clear institution's affairs. He wants the operation of all those who owe the bank and depositors in his forts work out the best possible settlement for all in the least possible time. He not ponsible for the condition in which finds the bank's affairs but he be held responsible for his part its proper conduct from now He not averse the statement of facts and figures being made public and will pursue that policy while charge. Having been charge but few days there are many matters that new but his ability things and them get done is exemplified fully in the statement he has prepared and to those who waited long and patiently, and the passing of second dividend cent to the depositors should recommend him for future trust and We believe that with the co-operation and help those interested that the new receiver will be able to do the very best for all concerned. Let hope least. The statement follows: Statement Condition of the FARMERS NATIONAL BANK, OF CHANDLER, As of the Date of its Suspension. ASSETS Bills Receivable Cash hand Assets Other than Bills Receivable and cash on hand Total LIABILITIES Liabilities unsecured Deposits secured by pledge of assets the Bank gregating ocllateral 88,044.21 Total $335,736.65 Statement condition of the FARMERS INSOLVENT. OKLAHOMA For the Quarter Ending December 1925 ASSETS Bills Receivable $189,293.40 Cash hand 16,208.21 Assets other than Blils Receivable and hand 163,130.84 Additional Assets Acquired 173.94 Stock Assessment 25,000.00 Total of all Assets coming into the hands of the Receiver 393,806.39 Remaining Assets Uncollected Bills Receivable 125,559.99 Assets Other than Biills Receivable 121,866.36 Stock Assessment 20,199.99 Total Assets uncollected LIABILITIES Total claims proven unsecured liabilities Total unsecured unproven Claims Total secured liabilities outstanding unpaid 33.034.59 Total Additional Liabilities Proven 2,008.75 Total of all Liabilities quarter 36,381.37 Dividents paid during last Total dividends paid date 38,381.37 Cash on hand 48.757.80 Enjoy Surprise Lunch. Teachers of the Chandler city public schools went unannounced to the home of Prof. and Mrs. Williams West Ninth street last Thursday evening to spend social hour, each one part in the preparation of the lovely buffet luncheon which enjoyed before the tables were arranged for the games rook which followed. Before the guests departed for their respective homes Barron presented Prof. Williams with five dollar gold piece to be used nucleus for the educational fund of their little daughter, Martha Elizabeth. This was very pleasant event and will long remembered by each one taking

2. March 5, 1926 The Chandler News-Publicist Chandler, OK

Article from The Chandler News-Publicist, March 5, 1926

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Article Text

had been wound each night beSecond Payment Since Failure fore the family sought their Bank Last March. Federal Still sturdy and faithful in its duty Grand Jury May Be Asked had been cast aside for the garish For Indictments. trinkets this age and day. We According to prediction made few weeks the ago, of the Farmers National Bank is this week passing dividend checks to the positors in the failed bank the amount another 15 per cent, the second payment of the kind to made since the failure of the institution the 23rd day of last March. While these payments small, they come regular and often enough they will help taxes and pay penses incident to the management of both farms and business, thereby relieving considerable degree the cramped condition which has pertained since the calamity visited upon an unsuspecting public. The present management of the bank doing everything to work out the possible settlement from those who still the bank and the same time make the best possible showing for the partment and the depositors. The statement of the affairs of the bank given to the press just few weeks ago appreciated by all those interested way or another with the failed institution and renewed the hope that eventually the be able to make creditable return to those lost its failure. Rumor also afloat that ment of justice officials have check of the management of the bank prior to its going into the hands receiver and that indictments may be returned against officials the bank by grand jury, this is only rumor however, but there sufficient dence say that the affairs of the bank have had careful ough investigation by government authorities entrusted with this portant duty and time alone will disclose what these findings have been. Vance, the present receiver, has well defined plan of his own for the working out of the bank's affairs and asks the cooperation of all depositors, and those the bank to the end that the best settlement may be made in the least possible time. He is not ponsible for the condition which found the bank but will give his best efforts to the conduct of its liquidation. Meeker Club Enjoys Good Meeting Members nearly 100 percent strong the Woman's Home club Mecker met in the home Mrs Don Kelly Monday March and rendered the given below when the subject for their study was "Infant Care and Feeding Music, Lullaby," Mrs. Anderson Place for Baby. Mrs Anderson. Baby's Clothes and How Feed Baby, Cariton to Feed Older Mrs Don Kelly and "Contagious Mrs. Deal "General Health Condition," Mrs. Oscar Newton. of Better Baby Contests and Campaigns, Mrs. Christy Mrs. Pearl Norman of Chandler, home demonstration for Lin coln county, present on this casion and interesting onstration in dyeing which very much appreciated by the ladies. The club will meet again on the first Monday in April the home of Oscar Newton. Letter From Tourists. Mrs. Sam Evans this week receivletter from sister, Nanwho, in company Miss Constance Wolcott, Mrs. Michel Cull and daughter, Miss gusta. and Miss Bertha Ahrens, Chandler February 9th. for motor tour the states. Among other things, she that they left says West, Flordia, at February boat, on the land" for Havana, Cuba, where they expect to spend several sightreports that of the party fine feeling enjoying the trip immensely. Evans regrets very much not having accepted her sister's invitation join the party and make deriul trip. (Editorial) Home, Sweet Home give up old home, to family traditions to abanthe simple domestic customs, whatever return, to make fool's bargain. In the window secondhand store, the other day, an oldfashioned mantel clock that still keeping time, yet someone had thrown aside probably install glass time-piece with gold trimming. There something sad about that faithful old clock seemed to hold its hands before its face in mute appeal. Somewhere in the days gone it had ticked away hours happy home. Tenderbeds. wanted to buy the old clock and install on the mantel the of real home. The tendency of young people, when they marry today, to listen the voice of fashion. Their ents may have given them the example modest life; but the generation shows its rights to existence liberty, by repudiating things that seem to them old-fashioned. So these young folks make efforts themselves up amid the latest creations, rid themselves father's property dirt-cheap prices. Instead to the things that Remember! they garnish their bungalows with quite furnishings that yet have no meaning. The family clock that ticks faithfully through the silent watchof night has no charm for them. might recall the life of the old home before these days moil and rush. So they cast out and put dainty, little timepiece on the mantel. The little clock will bid them remember the peace of the old home. Instead perchance they take the time to glance it, the smiling dial will Do not forget your appointment, the club, theatre, the races, your hour hand at the beaushop. The home, now that father's clock been cast out, becomes sort of house, where little and change one's clothes between two prolonged absences; good place to stay. As has soul, does not speak to yours. Time and sleep, and then off again! Who the fellow that wrote "Home, Sweet Home", anyHe must have been as dull hermit. But there will come time when you will long for the peaceful, rythticking of father's old clock, lay awake thinking what mess you have made of your

3. October 8, 1926 The Chandler News-Publicist Chandler, OK

Article from The Chandler News-Publicist, October 8, 1926

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BANK RECEIVER May Mean Another Small Dividend Payment Later. Bank Building Not Sold Has Been Report. ed. Other Assets Uncollected Vance receiver for the Farmers National bank of this city out with another statement of the bank's affairs, which will read considerable interest by those who lost money in the bank failure and Mr Vance has given evidence of fitness for the position he holds by being absolutely on the square" with the failed institution's depositor's and other creditors. He sought when first coming here to take charge of the defunct bank. and has had, the cooperation and help of those whom the bank owed and these who owed the bank. with the result that three dividends have been paid the depositors and looks like another small one coming Just when another dividend will be passed conjectural. of course, and depends upon collections and sale of the additional assets of the bank cotton in this day and time does not pay many debts but there every indication that the price of cotton will get better the farmer allowed to hold for higher price. The statement follows STATEMENT OF CONDITION OF THE FARMERS NATIONAL BANK OF For quarter ending September 30th 1926 Assets at date pension and later acquired Bills Receivable Cash hand 17,394.93 Assets other than bills Rec assets acquired 10,211.51 Stock Assessment 25,000.00 Total of all assets coming into hands of receiver Remaining Assets Uncollected Bills receivable 97,760.84 Assets other than bills rec. Stock assessment 20,199.99 Total assets uncollected $192,925.85 Liabilities Total unsecured claims proven Total unsecured claims not prov Total additional Lia proven 2,248.26 Total of Total dividends paid Creditors hand Report Building Douglass School Picks Cotton Students of Douglass school to the number of thirty under the leadership the princiMrs Sawner and her corps of able teachers went out to the farm George Franklin yesterday and picked all of the cotton he had on the place thereby earning something like Fifty Dollars for the days work which be used towards the purchase of Radio for the school. Friday they go to the Bullard farm to pick cotton for Mr. Dotson where the school hopes make money ough to finish paying for the most modern for the practical and pleasurable education of young America Lord helps those who helps and this only another instance where the laborer worthy his hire and the community wonderfully helped thereby Time when the phonograph considered one of the greatest luxuries that school could then came the moving picture machine. and now the radio, all, of these modamusement and educative features have been added to the equipmnt of Douglass school through the industry and zeal of the student body directed by most worthy principal and faculty Death of Wilson Word reached Chandler Thursday the death of Wilson which the family home Carney on Thursday. October after an illness several months Funeral will be held from the Christian church in Carney on October Interment will be made in the Carney cemetery. Deceased mother of Mrs. HorScott this city and has many friends in Chandler who will join in extending to the bereaved relatives sincere Sale of Delinquent Real Estate Beginning with this issue of the county Paul Prince, giving notice to all persons who are in arrears the payment of taxes real estate Lincoln county for the year 1925 that the same will sold on ember first for said deliquent tax. Tax real estate evidenced the list printed in another part paper may the paid at amount opposite each description to up 1926.