First State Bank - Durant, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 2, 1922
Location: Durant, Oklahoma (33.994, -96.371)

Metadata

Model: gpt-5-mini
Short Digest: dbf12f24

Response Measures

None

Description

Article (1922-06-02) states the First State Bank of Durant 'went defunct' and the county is recovering deposits from surety bonds. No article text describes a depositor run; evidence points to insolvency/closure and bond claims. Date of closure is not given in the article.

Events (2)

1. June 2, 1922 Other

Newspaper Excerpt: county has recovered from bonding companies $9,000 of county funds which were on deposit in the First State Bank of Durant at the time it was closed.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank became defunct/insolvent leading to closure; county recovering deposits via surety bonds from bonding companies.
Newspaper Excerpt: When the bank went defunct the county had a deposit of $20,000 in the institution.
Source: newspapers

Newspaper Articles (1)

1. June 2, 1922 Durant Weekly News Durant, OK

Article from Durant Weekly News, June 2, 1922

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Article Text

COUNTY RECOVERS ON BANK'S BOND This paper is informed today by Assistant County Attorney Williams, that the county has recovered from bonding companies $9,000 of county funds which were on deposit in the First State Bank of Durant at the time it was closed. When the bank went defunct the county had a deposit of $20,000 in the institution. This was secured by depository bonds furnished by the Southern Surety Company, the New Amsterdam Casualty Company and the United States Fidelity & Guaranty Company. The Southern Surety Company was the first to be induced to pay on its bond of $5,000, paying that sum in full. Then the New Amsterdam Casualty Company paid $4,000, its share of the loss and the remaining $11,000 is secured by the bond of the latter company. Mr. Williams says negotiations are underway with a view to the early collection of this amount.