Article Text
FINANCIAL. First National Bank of Hobart, Ok., is in the hands of a receiver. The depositors will be paid. The state of Washington has set aside a half million dollars for the purpose of aiding the returned soldiers.
18046. First National Bank (Hobart, OK)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 5954
- Charter Number
- 5954
- Start Date
- January 31, 1919
- Location
- Hobart, Oklahoma (35.030, -99.093)
Metadata
- Model
- gpt-5-mini
- Short Digest
8edf73ca
Response Measures
None
Receivership Details
- Depositor recovery rate
- 100.0%
- Date receivership started
- 1919-02-20
- Date receivership terminated
- 1919-10-25
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 74.0%
- Share of assets assessed as doubtful
- 4.2%
- Share of assets assessed as worthless
- 21.8%
Description
Multiple newspaper items (Feb 1919) report the First National Bank of Hobart, OK is in the hands of a receiver. A Guthrie item (1919-10-14) states the defunct bank was closed January 31 and that receiver John B. Doolin paid depositors 100 cents on the dollar. No article describes a depositor run; the sequence is closure/suspension with receivership and payout, i.e., suspension leading to permanent closure/receivership.
Events (5)
1.
August 30, 1901
Chartered
- Source
- historical_nic
2.
January 31, 1919
Suspension
- Cause Details
- Articles state the bank was closed and placed in the hands of a receiver; no explicit cause (e.g., run or insolvency details) is provided in the clippings.
- Newspaper Excerpt
- The institution was closed January 31.
- Source
- newspapers
3.
February 14, 1919
Receivership
- Newspaper Excerpt
- First National Bank of Hobart, Ok., is in the hands of a receiver. The depositors will be paid.
- Source
- newspapers
4.
February 20, 1919
Receivership
- Source
- historical_nic
5.
October 14, 1919
Other
- Newspaper Excerpt
- The defunct First National bank of Hobart has paid out dollar for dollar. John B Doolin is receiver.
- Source
- newspapers
Newspaper Articles (6)
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Article Text
FINANCIAL. First National Bank of Hobart, Ok., is in the hands of a receiver. The depositors will be paid. The state of Washington has set aside a half million dollars for the purpose of aiding the returned soldiers.
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Article Text
FINANCIAL. First National Bank of Hobart, Ok., is in the hands of a receiver. The depositors will be paid. The state of Washington has set aside a half million dollars for the purpose of aiding the returned soldiers.
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Article Text
The defunct First National bank of Hobart has paid out dollar for dollar. John B Doolin is receiver. The institution was closed January 31.
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Article Text
Western Half Didn't Need Banking Holiday By The half the state particularly Hobart did not need holiday and no discernable after effects will be felt here, according of the heads local institutions. Pres. Kelsay of the Farmand Merchants National bank Walter B. Stephens, acting and of the Home State Bank, expressed an opinion of bright optimism in interviews by the porter this morning. Both executives expressed the view that this section of the state not in need of moratorium, but that was probably the only thing to do following reported withdrawals in the eastern section after holidays had been declared in adjoining states. No Excitement saw number of business men and other customers of the bank this morning," Stephens said, there was absolutely no manifestation of excitement among them." said, few fanaties could Kelsay bank, but the start run on larger depositors are business men, and the liquid condition of knowing both Hobart banks will not make trouble for them." Both men also expressed the opinion that there is no occasion for excitement among the custom- since they did not expect and would be fully pared for in case it arose. The recent statements of each bank found them fully solvent and with few in the state in better dition. No After Effects history repeats Kelsaid, "no one will be able we had moratorium after Monday." The veteran banker told two previous experiences, the 'money panic' of 1907 and the failof the First National bank here more than decade ago, in which he said that absolute quiet through and after the experiences. answered, were fully prepared for anything that might have happened. But nothing Stephens expressed the optimistie note that even if the local banks could have and would have ignored the governor's proclamation, wouldn't have worked a hardship them. But We couldn't do said. "Of course we would like have accommodated our customlike making change for them. Our customers," he said, "are persons with such an attitude, that we probably wouldn't have been even under hardship, if were banks in this section of only open the
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Article Text
experience in the banking field. He has been director of the Oklahoma City branch of the federal reserve bank. Born in Missouri. Born on farm in Caldwell county near Cameron, March 9, 1879. Mr Doolin lived in Missouri until he was 17 years old when he went to Oklahoma. In 1899 he entered the mercantile business. He also homesteaded a claim in the Cherokee outlet near Alva. He was admitted to the Oklahoma bar in 1907. He served as state game and fish warden from 1910 to 1914. In 1919 he was appointed receiver for the bankrupt First National bank of Hobart, Ok, and established a record for efficiency in handling the bank's affairs. Depositors were paid 100 cents on the dollar Mr. Doolin is large landowner in northwestern Oklahoma and is active in the oil and pipe line business there. He president of the Schaefer Doolin Mortgage company. He is prominent in Democratic circles in Oklahoma. Now and