Creek Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: April 1, 1911*
Location: Sapulpa, Oklahoma (35.999, -96.114)

Metadata

Model: gpt-5-mini
Short Digest: 662e139c

Response Measures

None

Description

The article describes the Oklahoma state banking board closing the 'old Creek Bank and Trust company of Sapulpa' in spring 1911 and using state funds to pay depositors; prosecutions for embezzlement are under way. A run is mentioned but it refers to a Phoenix bank after suits were filed — not to the Sapulpa bank. I infer the Sapulpa bank was closed by government action and remained closed (receivership/legal action ongoing). Date approximated to spring 1911 based on newspaper date (1911-11-22) and phrasing 'last spring.'

Events (2)

1. April 1, 1911* Receivership

Newspaper Excerpt: the closing of the old Creek Bank and Trust company of Sapulpa by the Oklahoma state banking board ... $60,000 used by the state banking board in paying depositors of the institution. ... warrants were issued ... charging Frank S. Westfall ... with embezzlement and receiving deposits after the bank was insolvent. (OCR corrected).
Source: newspapers

2. April 1, 1911* Suspension

Cause: Government Action
Cause Details: Closed by the Oklahoma state banking board (state took charge and used about $60,000 to pay depositors) following alleged embezzlement and insolvency.
Newspaper Excerpt: closing of the old Creek Bank and Trust company of Sapulpa by the Oklahoma state banking board last spring
Source: newspapers

Newspaper Articles (1)

1. November 22, 1911 The Vinita Daily Chieftain Vinita, OK

Article from The Vinita Daily Chieftain, November 22, 1911

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Article Text

PLAN TO RE-OPEN BANK AT SAPULPA Will Make Vigorous Effort to Recover $60,000 Used By Banking Board to Pay Depositors. Sapulpa, Okla., Nov. 22.-That the case of the closing of the old Creek Bank and Trust company of Sapulpa by the Oklahoma state banking board last spring, is to be reopened and pushed to a vigorous climax in order to recover at least part of the $60,000 used by the state banking board in paying depositors of the institution, was made known here yesterday, when warrants ere isswued at the instigation of the banking board, charging Frank S. Westfall, formerly cashier, jointly with embezzlement and receiving deposits after the bank was insolvent. Assistant Bank Examiner I. F. Crow of Tulsa is pushing the case, and will go to Oklahoma City tomorrow to procure requisitions for the return of the two men to Sapulpa for trial. Both men are now under arrest, it is said, at Phoenix, Ariz. Their arrest is said to have followed the closing of their bank in that city by the banking board of Arizona. About ten days ago the Oklahoma banking board filed suit in Phoenix, Ariz., against the two men for the collection of notes amounting to $20,000, the result of the closing of the old Creek Bank and Trust company. When the news of the suits being filed became known in Phoenix, a run was started on the Phoenix bank, which resulted in the Arizona banking department taking charge. An investigation followed, which is said to have shown that the accounts of the bank were short $3,750. This led to the action of the state. Following the closing of the Sapulpa bank last spring, the two bankers vere arrested on a charge of embezzling the funds of the bank. After having been released on bond, they went to Arizona and opened a new bank. John Westfall, at that time, was suffering with consumption. Last September, Frank Westfall returned to Sapulpa and was tried and acquitted on the old charge, which was presented by the old state banking board. Since then the new banking board has reopened the case and intends to prosecute it vigorously.