Picher National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11624
Charter Number: 11624
Start Date: February 17, 1921
Location: Picher, Oklahoma (36.987, -94.831)

Metadata

Model: gpt-5-mini
Short Digest: 3688a7fb

Response Measures

None

Receivership Details

Depositor recovery rate: 38.5%
Date receivership started: 1921-02-21
Date receivership terminated: 1928-03-19
OCC cause of failure: Economic conditions
Share of assets assessed as good: 46.8%
Share of assets assessed as doubtful: 35.4%
Share of assets assessed as worthless: 17.9%

Description

The articles show the Picher National Bank was placed in the hands of a receiver and treated as a defunct/failed institution (receiver appointed/receiver actions, foreclosure suit, and later federal fraud probe). No newspaper text mentions a depositor run or a temporary suspension/reopening; the bank remained closed and in receivership.

Events (6)

1. February 28, 1920 Chartered

Source: historical_nic

2. February 17, 1921 Receivership

Newspaper Excerpt: Asked To Take Oklahoma Bank ReceiverShip ... asking cim if he would accept the place of receiver for the Picher National Bank, of Picher, Okla., at a salary of $4,500.
Source: newspapers

3. February 21, 1921 Receivership

Source: historical_nic

4. October 5, 1921 Other

Newspaper Excerpt: In its effort to adjust the affairs of the Picher National bank, which went into the hands of a receiver more than a year ago, the federal banking department ...
Source: newspapers

5. December 16, 1921 Other

Newspaper Excerpt: Suit has been filed in district court by N. A. Dudley, receiver of the Picher National bank, asking foreclosure of a mortgage on the Connell hotel property...
Source: newspapers

6. December 8, 1922 Other

Newspaper Excerpt: Agents of the department of justice are in Picher this week investigating alleged fraud in connection with the failure of the defunct Picher National bank of Picher.
Source: newspapers

Newspaper Articles (4)

1. February 17, 1921 Americus Times-Recorder Americus, GA

Article from Americus Times-Recorder, February 17, 1921

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Article Text

DUDLEY IS WIRED U. S. BANK OFFER Asked To Take Oklahoma Bank ReceiverShip A merited and appreciated honor has come to N. M. Dudley, of Americus, in the form of a telegram from T. P. Kane, assistant comptroller of the currency, at Washington, asking cim if he would accept the place of receiver for the Picher National Bank, of Picher, Okla., at a salary of $4,500. Mr. Dudley has neither accepted nor declined, but expected to make a decision during the day. Mr. Dudley, who is liquidating agent of the Commercial City ban, received the offe ra day or two ago, and immediately advised T. R. Bennett, the state superintendent of banks, of the offer, asking whether he could secure his release from the Americus institution in case he wished to accept the Oklahoma offer. Mr. Bennett advised him that the offer was worthy of serious consideration, and informed him it would be permissible for him to acecpt if he so chose. If Mr. Dudley accepts he will be required to go to the Oklahoma town almost immediately.

2. October 6, 1921 The Morning Tulsa Daily World Tulsa, OK

Article from The Morning Tulsa Daily World, October 6, 1921

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Article Text

# BANK AFFAIRS TO COURT Stockholders to Be Held Responsible to Bank's Creditors. Special to The World. PICHER, Oct. 5.—In its effort to adjust the affairs of the Picher Na- tional bank, which went into the hands of a receiver more than a year ago, the federal banking department

3. December 17, 1921 The Morning Tulsa Daily World Tulsa, OK

Article from The Morning Tulsa Daily World, December 17, 1921

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Article Text

To Close Hotel Mortgage. Special to The World. PICHER, Dec. 16. - Suit has been filed in district court by N. A. Dudley, receiver of the Picher National bank. asking foreclosure of a mortgage on the Connell hotel property, alleged to have been given as security for a loan of $24,000. The Picher Building and Investment company, and certain individuals connected with the transaction, are named as defendants. The sum of $240 is asked for attorneys fees, and all accrued interest on the amount of the loan, minus $20 claimed to have been paid.

4. December 9, 1922 The Morning Tulsa Daily World Tulsa, OK

Article from The Morning Tulsa Daily World, December 9, 1922

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Article Text

PROBE BANK FAILURE Sensational Developments Expected in Investigation of Defunct Picher National Bank. MIAMI, Dec. 8.-Agents of the department of justice are in Picher this week investigating alleged fraud in connection with the failure of the defunct Picher National bank of Picher. A. C. Wallace, attorney for N. M. Dudley, receiver for the bank, stated today that his investigation revealed the fact that patrons of the bank had signed "accommodation notes" for sums as high as $5,000 and that many false affidavits, regarding securities, were in the bank's files. Some sensational developments in connection with the investigation are anticipated as a result of the probe. The report of the special agents is to be submitted to the department of justice and probably will be turned over to, the federal grand jury at Muskogee, Mr. Wallace said.