First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6130
Charter Number: 6130
Start Date: May 1, 1925*
Location: Hugo, Oklahoma (34.011, -95.510)

Metadata

Model: gpt-5-mini
Short Digest: ecad4f88

Response Measures

None

Description

Newspaper accounts (May 1925) state the First National had closed earlier in the month; no article describes a discrete depositor run specifically on the First National, although other Hugo banks experienced heavy withdrawals. A receiver (Roy Cooper) was appointed (reported later); thus the bank remained closed and in receivership. Dates for suspension/receivership are given as May 1925 (articles report 'earlier this month' and that Cooper was named receiver in May 1925).

Events (4)

1. February 18, 1902 Chartered

Source: historical_nic

2. September 3, 1923 Voluntary Liquidation

Source: historical_nic

3. May 1, 1925* Receivership

Newspaper Excerpt: Prior to Cooper's appointment as bank here in May, 1925... he was named the comptroller receiver for the Hugo National in May, he placed charge ... and First National bank remains were shipped ... Cooper was receiver for Banks. Found Dead in Room of Hotel at Hugo ... the defunct Hugo National and City National banks and the First National bank ... Roy Cooper, national bank receiver, dead ... he was named the comptroller receiver for the Hugo National in May, he placed charge of Hugo and First National bank.
Source: newspapers

4. May 1, 1925* Suspension

Cause Details: Article states First National and Hugo State Bank had closed earlier in the month but does not specify an immediate cause for First National's closure.
Newspaper Excerpt: The City National Bank of Hugo, Oklahoma, closed its doors by order of its board of directors Wednesday morning of this week. It was the last of Hugo's banks, the First National, of that city, and the Hugo State Bank, having closed earlier this month.
Source: newspapers

Newspaper Articles (3)

1. May 28, 1925 The Ardmore Statesman and Weekly Ardmoreite Ardmore, OK

Article from The Ardmore Statesman and Weekly Ardmoreite, May 28, 1925

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Article Text

WITHOUT BANKS The City National Bank of Hugo, Oklahoma, closed its doors by order of its board of directors Wednesday morning of this week. It was the last of Hugo's banks, the First National, of that city, and the Hugo State Bank, having closed earlier this month. It leaves Hugo, which city of 6,000 people, and the county seat of Choctaw county, without bank of any kind. In fact, there are but two small banks left in the county; one at Fort Townsen, the other Boswell. The reason for the closing of the City National was, that depositors in it went to other towns and cities in Oklahoma and Texas, and drew checks on it, in that manner withdrawing in singal day. The officers feared run SO ordered the bank closed.

2. February 24, 1928 Tulsa World Tulsa, OK

Article from Tulsa World, February 24, 1928

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Article Text

FORMER STATE OFFICER DIES Roy Cooper, Receiver for Banks. Found Dead in Room of Hotel at Hugo HUGO. Feb. 23 the defunct Hugo National and City National banks and the First National bank dead today in his room in a local He apparently had been dead for Physicians said death was due to heart disease. Prior to Cooper's appointas bank here in May, 1925. he was for many tional bank and was well known banking circles. one time he was examiner for the was prominent in state republican Mr. Cooper's home was at Muskogee where his family, and two reside. He native

3. March 1, 1928 The Antlers American Antlers, OK

Article from The Antlers American, March 1, 1928

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Article Text

NATIONAL BANK HUGO FOUND DEAD Roy Cooper, national bank receiver, dead bed in the Belmont hotel Hugo shortly after o'clock parently caused by heart failure, Cooper many years national examHe was for time the State department. He was in the employ of the comptrollthe time he named the comptroller receiver for the Hugo National in May, he placed charge Natof Hugo and First National bank remains were shipped to Jennings, for burial. Mrs. Burnett and Mrs. Burof Texas, visiting their parents, Mr. Mrs. M. Brock and Mr. Mrs. Moon, respectively. Telephone local news to 116.