Security State Bank - Newkirk, OK

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 12, 1932
Location: Newkirk, Oklahoma (36.882, -97.053)

Metadata

Model: gpt-5-mini
Short Digest: 1af2d97c

Response Measures

None

Description

Article describes the Security State Bank having closed its doors on Jan. 12 and being insolvent; a new bank (taking over the defunct Security State Bank) received a charter and planned to reopen by early March 1932. No mention of a depositor run — closure appears due to insolvency and then takeover/reopening.

Events (3)

1. January 12, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent and closed its doors on January 12; described as defunct/insolvent requiring takeover by new institution.
Newspaper Excerpt: after closed its doors Jan12. ... taking over the insolvent
Source: newspapers

2. March 1, 1932 Reopening

Newspaper Excerpt: The charter has been granted ... plans for reopening the bank immediately ... $50,000 And $100,000 Are Expected To Pour In Today; 50 Per Cent Of Deposits AVAILABLE NOW ... new bank as second ... representatives ... announced they would send representatives here for the day opening. Definite announcement that the institution scheduled was last night ... agreed to pay on the day opening. The establishment of new bank was made possible ... to take over the defunct Security State bank. Charter Granted
Source: newspapers

3. * Other

Newspaper Excerpt: Visiting Bankers The Exchange National bank Tulsa, the First National bank and Trust company Oklahoma City and the Commerce Trust of Kansas City, announced they would send representatives here for the Officials of the new bank said they would ... many large deposits had been offered for the day ... new deposits for first day would be between $50,000 and $100,000
Source: newspapers

Newspaper Articles (1)

1. March 1, 1932 Blackwell Journal-Tribune Blackwell, OK

Article from Blackwell Journal-Tribune, March 1, 1932

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Article Text

NEARLY HALF-MILLION DOLLARS LYING DORMANT SINCE CLOSING INTO CIRCULATION $50,000 And $100,000 Are Expected To Pour In Today; 50 Per Cent Of Deposits Available Now agreed to pay on the day opening. Definite announcement that the institution scheduled was last night Wright, be active head of the new bank as second With representatives from leadinstitutions the attendance, and floral Visiting Bankers The Exchange National bank Tulsa, the First National bank and Trust company Oklahoma City and the Commerce Trust of Kansas City, announced they would send representatives here for the Officials of the new bank said they would in the bank out the day getting acquainted with others. They clared many large deposits had been offered for the day indicated new deposits for first day would be between $50,000 The last legal barrier in the opening program was hurdled at Newkirk Monday afternoon when District Judge Duval grant. petition of Shull, state asking authority to accept the Security bank's proposal to take over the defunct Security State bank. Charter Granted The charter has been granted, Wright, active vice-president, said, and only few minor details The establishment of new bank was made possible through diligent efforts citizens committee and committee of the chamber commerce, which about laying plans for reopening the bank immediately after closed its doors Jan12. stockholders in the new bank, after subscribing to their respective then to work out plans for the taking over the insolvent On Harris, Harper Poling, Welsh, Denton and Meek. After the plans were worked out, committee composed of Carl Haun, Harper Poling and Curran appointed carry out the plans they were approved by stockholders the old bank. Unanimous Approval The meeting at the Plaza theater Wednesday, February the plans Of approximately 1,000 positors who the meeting, not offered any or position the proposed plans for opening of the new bank. The then began its work of carrying the proposals, Haun and Poling entering agreement with bank whereby the Security bank was Continued on page