City National Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 12136
Charter Number: 12136
Start Date: October 26, 1922
Location: Hugo, Oklahoma (34.011, -95.510)

Metadata

Model: gpt-5-mini
Short Digest: 4b10b04f

Response Measures

Full suspension, Books examined

Other: Bank failed to open doors and national bank examiner to take over; closure appears permanent (receiver expected).

Receivership Details

Depositor recovery rate: 51.8%
Date receivership started: 1925-06-05
Date receivership terminated: 1930-08-30
OCC cause of failure: Economic conditions
Share of assets assessed as good: 27.8%
Share of assets assessed as doubtful: 28.2%
Share of assets assessed as worthless: 44.1%

Description

Article (Guthrie Daily Leader, 1922-10-28) reports a quiet but steady run by depositors followed by the City National Bank failing to open; a national bank examiner is due to take over. Date for the run inferred as Thursday, Oct 26, 1922 (article dated Oct 28, 1922). Closure/suspension and receivership actions noted in the article.

Events (5)

1. March 15, 1922 Chartered

Source: historical_nic

2. October 26, 1922 Run

Cause Details: Article only states a quiet but steady run; no specific trigger (rumor, correspondent failure, or bank-specific scandal) is given.
Newspaper Excerpt: Following a quiet but steady run by depositors Thursday the City National bank of Hugo failed to open its doors for business here.
Source: newspapers

3. October 28, 1922 Receivership

Newspaper Excerpt: A national bank examiner is due to arrive here Saturday to take over the affairs of the institution.
Source: newspapers

4. October 28, 1922 Suspension

Cause: Government Action
Cause Details: Bank failed to open and a national bank examiner was to take over affairs, indicating suspension/closure by regulatory action.
Newspaper Excerpt: the City National bank of Hugo failed to open its doors for business here. A national bank examiner is due to arrive here Saturday to take over the affairs of the institution.
Source: newspapers

5. June 5, 1925 Receivership

Source: historical_nic

Newspaper Articles (1)

1. October 28, 1922 The Guthrie Daily Leader Guthrie, OK

Article from The Guthrie Daily Leader, October 28, 1922

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Article Text

QUIET RUN CAUSES HUGO BANK CLOSING Hugo. Oct. 28.-Following a quiet but steady run by depositors Thursday the City National bank of Hugo failed to open its doors for business here. A national bank examiner is due to arrive here Saturday to take over the affairs of the institution. Every effort to pay depositors,