18030. First National Bank (Hanna, OK)

View Charter #11551 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11551
Charter Number
11551
Start Date
January 1, 1927*
Location
Hanna, Oklahoma (35.205, -95.890)

Metadata

Model
gpt-5-mini
Short Digest
d28e45a0

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1928-01-16
Date receivership terminated
1930-02-17
OCC cause of failure
Economic conditions
Share of assets assessed as good
26.6%
Share of assets assessed as doubtful
45.7%
Share of assets assessed as worthless
27.7%

Description

The articles (Aug–Sep 1929) describe the First National Bank of Hanna as already closed/defunct and in the hands of receiver Harwood Keaton. Depositors were paid (within a year after closing) and a receiver was appointed; there is no mention of a depositor run. The bank remains closed with a receiver and litigation over stock/interest—classified as a suspension leading to permanent closure (receivership). The exact closure date is not given; articles state the bank closed about two years earlier.

Events (5)
1. December 19, 1919 Chartered
Source
historical_nic
2. January 1, 1927* Suspension
Cause
Government Action
Cause Details
Bank was closed and placed in the hands of receiver Harwood Keaton; receiver handling liquidation and refunding depositors.
Newspaper Excerpt
He was appointed receiver the bank years after banker asked permission to cease ... Money was refunded to depositors within year after the bank closed.
Source
newspapers
3. January 16, 1928 Receivership
Source
historical_nic
4. August 27, 1929 Other
Newspaper Excerpt
Spillman reported ... most of it was refunded by him ... as he owned $24,000 of the $25,000 stock in the bank. He is willing to pay interest to depositors if he ... Mr. Spillman is to ... opening bank at Hanna
Source
newspapers
5. * Receivership
Newspaper Excerpt
Keaton, of Okmulgee, bank receiver ... is receiver for the bank of which Mr. Spillman formerly was president.
Source
newspapers

Newspaper Articles (4)
1. August 27, 1929 Muskogee Daily Phoenix and Times-Democrat Muskogee, OK
Article from Muskogee Daily Phoenix and Times-Democrat, August 27, 1929

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Article Text

He Biffs Bank Liquidator In Queer Quarrel President of Closed Institution at Hanna Says Keaton Too Slow; Wants New Bank Harwood Keaton. widely known receiver of Okmulgee, left Hanna week muttering dire threats. The object his threats was S. Spillformer president principal stockholder of the First National bank Hanna. Keaton. according to Spillman, threatened both and assault battery Keaton was appointed receiver the bank years after banker asked permission to cease According to Spillman, bank wasn't insolvent, it merely wasn't any money. Within year Keaton had paid full each of the in bank. Ready to Pay All The fact should certainly be noted former bank president ironically yesterday Most of money Spillman said, came from his pocket. He owns of 000 stock of the bank. Spillman said The first of this year. according would clear the bank's full. Spillman said handed Then short while ago. Spillman said he from Keaton that more money would be to pay the depositors Interest during the period their was impounded in the hands of the receiver. Tired of Delay Keaton Friday paid visit to Hanna this end. altercation arose. Brusque the writers have "Socko! Keaton went the Then according to one Keaton found refuge in the bank tellcage Spillman said yesterday that he has paying the depositors Interest, He wants to shown. Then he will gladiy pay. He expressed the opinion that Keaton has been long time winding up the affairs. He wants action. Spillman said that he trying interest outside capital in opening another bank at Hanna The cotton crop bumper.

2. August 27, 1929 Muskogee Times-Democrat Muskogee, OK
Article from Muskogee Times-Democrat, August 27, 1929

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Article Text

KEATON AND SPILLMAN MIX AS RESULT OF ALTERCATION Because Harwood Keaton, of Okmulgee, bank receiver. asked S. J. Spillman, former president and principal stock holder of the defunct First National bank of to pay terest on deposits since the bank was closed two years ago until the time the money was refunded: Spillman and Keaton had little affray last week. It is reported that Mr. Keaton took refuge in the teller's cage Money was refunded to depositors within year after the bank closed. and most of it was refunded by him Spillman reported. as he owned $24,000 of the $25,000 stock in the bank. He is willing to pay interest to depositors it he but he wants to be convinced Mr. Spillman is to terest outside capital opening bank at Hanna, be and reported that the cotton crop is a bumper.

3. August 29, 1929 Okmulgee Daily Times Okmulgee, OK
Article from Okmulgee Daily Times, August 29, 1929

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Article Text

KEATON IN FIGHT WITH HANNA MAN Following a battle of words, Harwood Okmulgee bank receiver, and S. J. Spillman, former and main stockholder of the First National bank of Hanna, fought it out with their fists. Keaton is receiver for the bank of which Mr. Spillman formerly was president. He recently called on Mr. Spillman telling him that he would have more money to pay before the bank's total liabilities were paid off. The money was for Interest on depositors' money while it was impounded by the receiver. Mr. Spillman thought that he had met all of the liabilities of his bank, and objected to making the payment unless strict proof that he should was made. The argument followed, and then the fist fight.

4. September 11, 1929 Muskogee Daily Phoenix and Times-Democrat Muskogee, OK
Article from Muskogee Daily Phoenix and Times-Democrat, September 11, 1929

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Article Text

NNA BANK RECEIVER FILES SUIT FOR $6000 ion Is Second Within Month; Had Had Heated Altercation Previously FENDANT READY TO PAY J. Spillman, president of the First onal bank of Hanna, now defunct, in the hands of Harwood Keaton. ver, was sued yesterday by the iver in federal court here for 0 alleged due on stock as. ment. he suit is the second event within nt weeks which has brought the and the receivership into the light. few weeks ago Spillman admitted king Keaton, following heated cation over the final liquidation cording to Spillman, the last of depositors in the bank was paid ull the early part of this year. He that later demand was made of by Keaton for more money with ch to pay the depositors interest. was an altercation over this inthat resulted in the alleged ble, which occurred in the bank ding at Hanna. billman said that he is ready to the interest if Keaton can show it is due, and that the receiverwill be wound up, so that the aining assets may be turned back he president. he suit yesterday did not specify the $6000 was to be used for.