First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11535
Charter Number: 11535
Start Date: September 16, 1925
Location: Devol, Oklahoma (34.196, -98.590)

Metadata

Model: gpt-5-mini
Short Digest: 8ef5a5bc

Response Measures

None

Receivership Details

Depositor recovery rate: 63.8%
Date receivership started: 1925-09-17
Date receivership terminated: 1941-06-10
OCC cause of failure: Economic conditions
Share of assets assessed as good: 17.9%
Share of assets assessed as doubtful: 78.8%
Share of assets assessed as worthless: 3.3%

Description

Article states the bank was closed on order of the Comptroller of the Currency (Sept 16, 1925) and a receiver is acting for the defunct bank (receiver filed suit Nov 19, 1925). No mention of a depositor run prior to suspension. Classified as suspension → permanent closure with receivership (government action).

Events (4)

1. December 5, 1919 Chartered

Source: historical_nic

2. September 16, 1925 Suspension

Cause: Government Action
Cause Details: Closed by order of the Comptroller of the Currency on September 16, 1925
Newspaper Excerpt: the bank was closed September 16, 1925, on order of comptroller of currency
Source: newspapers

3. September 17, 1925 Receivership

Source: historical_nic

4. November 19, 1925 Receivership

Newspaper Excerpt: Cy Howenstino, receiver for the First National Bank of Devol, in suit filed in district court against H. A. ... the defunct bank
Source: newspapers

Newspaper Articles (1)

1. November 19, 1925 The Lawton Constitution Lawton, OK

Article from The Lawton Constitution, November 19, 1925

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Article Text

SUIT IS FILED ON BANK STOCK Receiver Asks Judgment of $12,100 Against H. Smith. Judgment in the sum of $12,100 asked by Cy Howenstino, receiver for the First National Bank of Devol, in suit filed in district court against H. A. owner of 121 shares of stock in the defunct bank The petition sets forth that the bank was closed September 16, 1925, on order of comptroller of currency, and that the defendant was and had been for "period of four months from and after March 24, 1925, the apparent owner of 121 shares of stock of the bank of par value of $12,100." The petition further alleges that the stock was assessed on October 9, 1925, for $100 on each share and that defendant has so far failed to pay the assessment.