18212. Security National Bank (Stigler, OK)

View Charter #12331 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
12331
Charter Number
12331
Start Date
February 5, 1926
Location
Stigler, Oklahoma (35.254, -95.123)

Metadata

Model
gpt-5-mini
Short Digest
17edc49d

Response Measures

Books examined

Other: Closed following conference with national bank examiner; possible reorganization mentioned.

Description

Multiple contemporary papers report a run (Feb 5, 1926) precipitated by the arrest of M. M. Hayes, a former president, and that the bank failed to open (Feb 6, 1926) after a conference with the national bank examiner. Articles state the bank 'failed to open' and 'closed by U.S. examiner' and cite insufficient cash; no reopening is reported and receivership is not explicitly mentioned in these clippings.

Events (4)
1. March 6, 1923 Chartered
Source
historical_nic
2. February 5, 1926 Run
Cause
Bank Specific Adverse Info
Cause Details
Run precipitated by arrest of M. M. Hayes (former president) in connection with alleged irregularities/theft at the Arkansas Valley State Bank in Fort Smith, creating loss of confidence.
Measures
Conference with national bank examiner; bank did not open next day (declared closed)
Newspaper Excerpt
Today's action followed yesterday's run on the bank, said to have been precipitated by the arrest in Oklahoma City of M. M. Hayes
Source
newspapers
3. February 6, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
After the run caused by arrest of the bank's former president, officials said there was not enough cash on hand to reopen; U.S. examiner closed the bank and it failed to open for business on Feb 6, 1926.
Newspaper Excerpt
The Security National bank of Stigler ... failed to open its doors today as the result of a conference in Muskogee between H. B. Cook, the bank's president, and E. F. Allen, national bank examiner.
Source
newspapers
4. March 30, 1926 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (7)
1. February 6, 1926 El Reno Daily Democrat El Reno, OK
Article from El Reno Daily Democrat, February 6, 1926

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Article Text

STIGLER BANK CLOSES DOORS Okla The Security National Bank of Stigler Haskell County with deposits failed open its doors the result Coow pres ident the bank and Allen national bank examiner Today's action followed the the bank yesterday said precipitated by arrest in Oklaho homa City vice pres Arkansas Valley State Bank Smith Ark. and former president Stigler bank of with taken from deposit bank and Hayes been with the Stigler Bank STOLEN CAR LOCATED delivery last night from the City Drug found the Reno had been

2. February 6, 1926 The Frederick Leader Frederick, OK
Article from The Frederick Leader, February 6, 1926

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Article Text

Security National Bank In Stigler Is Not Opened Today United Press Muskogee, February The Security National bank of Stigler Haskell county, with deposits of $275,000, failed to open its doors to day as the result of a conference in Muskogee between H. B. Cook, the bank's president, and E. F. A1len. national bank examiner. Today's action followed yesterday's run on the bank. said to have been precipitated by the arrest in Oklahoma City of M. M. Hayes, vice-president of the Arkansas Valley state bank. Fort Smith Arkansas. and former president of the Stigler bank Hayes is accused of irregularities in the Fort Smith bank He had been relieved of his connection with the Stigler Bank

3. February 6, 1926 Shawnee News-Star Shawnee, OK
Article from Shawnee News-Star, February 6, 1926

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Article Text

RUN IS FATAL TO STIGLER BANK STIGLER, Feb. 5.-(By the Associated Press.)-Officials of the Security National bank of this city announced tonight that the de. pository will not open for bustness tomorrow morning. A run precipitated by the nrrest of M. M. Hayes, president, in connection with alleged irregularities in the Arkansas Valley State bank of Fort Smith, Ark., made opening of the bank impossible. according to the announcepent. Hayes is vice president of the Fort Smith bank. Deposits of the Stigler bank total $275,000. Assets were listed in the last statement at $350,000. Frozen assets made the bank unable to withstand the heavy run this afternoon, officials said, declaring that there was not enough cash on hand to reopen. Stigler is left with two national banks, both of which are said to be in excellent condition,

4. February 6, 1926 The Vinita Daily Journal Vinita, OK
Article from The Vinita Daily Journal, February 6, 1926

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Article Text

Stigler Bank Fails To Open Today STIGLER, Feb. 6.-Declaring there was not enough cash on hand to reopen following the heavy run Friday, officials announced that the doors of the Security National bank here would remain closed. It failed to open Saturday morning. Deposits of the bank are $275,000. Assets were listed in the last statement at $350,000. H. B. Cook, vice president, says the arrest of M. M. Hayes, of Fort Smith, president of the Stigler bank caused the run which forced it to close it sdoors. Hayes was arrested in connection with alleged irregularities in the rkansas Valley State bank at Fort Smith He was an officer of the Fort Smith bank.

5. February 7, 1926 The Ardmore Daily Press Ardmore, OK
Article from The Ardmore Daily Press, February 7, 1926

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Article Text

NATIONAL BANK CLOSES DOORS Action Follows Run on Institution Caused by Ex-official's Arrest. MUSKOGEE. Okla., Feb. 6.-The Security National bank of Stigler, Haskell county, with deposits of $275,000 failed to open its doors today as the result of a conference in Muskogee between H. B. Cook, the bank's president, and E. F. Allen. national bank examiner. Today's action followed yesterday's run on the bank, said to have been precipitated by the arrest in Oklahoma City of M. M. Hayes, vice president of the Arkansas Valley State bank, Fort Smith, Ark., and former president of the Stigler bank. Hays, 50 years old, is charged with having taken $12,400 from a safety deposit cash box of the Fort Smith bank, and following his ar. rest in Oklahoma City, was returned to Arkansaw, according to advices here. Hayes has been relieved of his connection of the Stigler bank. This is the second national bank in this section to close its doors within the past few months. Cook and Stigler citizens declare the bank is solvent, however, and that the institution will be reorganized, if possible, and opened for business. The Muskogee Security National bank, having failed last fall. is now in the process of liquidation while the opening of new bank to place it is to be announced this week.

6. February 7, 1926 The Norman Transcript Norman, OK
Article from The Norman Transcript, February 7, 1926

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Article Text

Stigler Bank Shuts Doors After Run; Is Thought Solvent United Press) Okla., Feb. Security National bank Stigler, Haskell county, with deposits $275,000 failed to its doors day the result conference Muskogee between Cook, the bank's and Allen, tional bank examiner Today's action followed yesterday's the bank, said to have been precipitated by the arrest in Oklahoma Hayes, vice dent the Valley State bank. Fort Smith, and former president the Stigler bank. Hayes, 50 years charged having taken $12,400 from with deposit cash box of the Fort safety bank He had been relieved of with the Stigler bank. This the second national bank this section close its doors within few months. and Stigler citizens declare the bank solvent, and that the institution will however, possible, and reorganized, for business. INDICTED Feb. Three indictments charging murder and manslaughter the grand Friday against David jury Anna May 34 slayer old milliner. Mrs. Emma Estill, head of the of history Central State partment Teacher's college, returned Saturday her home Edmond after attendthe inaugural services.

7. February 7, 1926 The Lawton Constitution Lawton, OK
Article from The Lawton Constitution, February 7, 1926

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Article Text

STIGLER BANK IS CLOSED BY U. S. EXAMINER Arrest of Former President of Institution Causes Run The Security National Bank of Stigler, Haskell county, with of $275,000 failed to doors today as the result of conference in Muskogee between the bank's president, Allen, national bank Today's action followed yesteron the bank, said been precipitated by the in Oklahoma City Hayes, the Valley State Fort Ark., and former presithe Stigler bank. Hayes accused of irregulartthe Fort Smith He been relieved of his connection with the Stigler bank.