First State Bank - Ringling, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 13, 1931
Location: Ringling, Oklahoma (34.178, -97.593)

Metadata

Model: gpt-5-mini
Short Digest: 202b4547

Response Measures

None

Description

Article (Carter County Citizen, 1931-04-16) reports the First State Bank of Ringling failed to open its doors Monday and is in the hands of [the] state bank examiner. No run is mentioned; the failure led to examiner/receiver involvement. Cause appears to be frozen/impounded assets and a dispute over a rate schedule.

Events (2)

1. April 13, 1931 Receivership

Newspaper Excerpt: the institution now in the hands of state bank examiner.
Source: newspapers

2. April 13, 1931 Suspension

Cause: Government Action
Cause Details: Frozen/impounded assets and controversy over a rate schedule; bank did not open and was turned over to the state bank examiner.
Newspaper Excerpt: The First State Bank of Ringling failed to open its doors Monday morning of this week. and the institution now in the hands of state bank examiner.
Source: newspapers

Newspaper Articles (1)

1. April 16, 1931 Carter County Citizen Ardmore, OK

Article from Carter County Citizen, April 16, 1931

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Article Text

Ringling Bank in Receiver's Hands The First State Bank of Ringling failed to open its doors Monday morning of this week. and the institution now in the hands of state bank examiner. Frozen assets are given as the for the failure. cause return to the company of $140,000. The state relinquishes claims to oney impounded during the when the rate schedule was in controversy. This is variously estimated at ures running up to more than $100,000. The state also joined petitioning the war department for the higher schedule. one of base and the same as that formerly charged on the Gainesville bridge. petition which denied.