American National Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 10342
Charter Number: 10342
Start Date: April 16, 1920
Location: Tulsa, Oklahoma (36.154, -95.993)

Metadata

Model: gpt-5-mini
Short Digest: 26b72250

Response Measures

Full suspension, Books examined

Other: Assets and liabilities taken over by Exchange National Bank; local clearing house assumed responsibility and depositors were paid in full.

Description

A bank examiner ordered the American National Bank closed (Apr 16), depositors crowded the doors (run), and the Exchange National Bank/clearing house assumed assets and liabilities — a takeover/closure. OCR corrected minor typos (e.g., 'Tulss' -> Tulsa).

Events (5)

1. March 7, 1913 Chartered

Source: historical_nic

2. April 16, 1920 Other

Newspaper Excerpt: Its assets and liabilities taken over by Exchange National Bank; local clearing house assumed full responsibility for the defunct institution and would pay every depositor in full.
Source: newspapers

3. April 16, 1920 Suspension

Cause: Bank Specific Adverse Info
Cause Details: A bank examiner was in charge and after considering plans for keeping the institution open 'had ordered the doors closed.' Assets and liabilities were taken over by another bank (takeover).
Newspaper Excerpt: American National Bank of Tulsa, with deposits of $1,500,000, closed doors. Its assets and liabilities taken over by Exchange National Bank.
Source: newspapers

4. April 17, 1920 Run

Cause: Bank Specific Adverse Info
Cause Details: Depositors panicked after the bank was placed under an examiner and doors were ordered closed; the institution was described as 'in difficult waters.'
Measures: Other local banks/clearing house (and specifically Exchange National Bank) assumed responsibility and agreed to pay depositors in full; relief bank accepted pass books temporarily.
Newspaper Excerpt: A large crowd of heart-broken depositors were clamoring about the entrance.
Source: newspapers

5. January 12, 1921 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (2)

1. April 16, 1920 The Guthrie Daily Leader Guthrie, OK

Article from The Guthrie Daily Leader, April 16, 1920

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Article Text

WHAT TICKED OVER THE WIRE DURING DAY Washington--rederick A. Delano Chicago, appointed libited States su preme court to be receiver in Red Rivel Valley oi) diapute, qualified by filing bond for $100,000. -Paris - According to Berlia ad. vices, German government has decided to post guards about public buildings and take other military precautions because of rumora of another attempted revolution -Tulss-American National Bank of Tulsa, with deposits of $1,500,000. closed doors. Its asseta and Habilities taken over by Exchange National Bank. -Auga Prieta . Bonora can Military forces of new Sonora government were reported to have crossed state line of Sinaloa, captured two towns and were said to be continuing their march toward Clutacan. in Rinoloa. -Oklahoma City-John A. Fain, aneletant 4. 8. attorney-general filed suit in federal court to gain title for government Indian wards to valuable tracts of land in Red river bed. Pecition asked that all persons now holding that property be enjoined from further development and that receiver be appointed for those allotments not included in receivership already provided by federal supreme court. May 20 was set as date for hearing application. -Springfield, III. - Frankie Mason Fort Wayne, American flyweight champion, outpointed Johnny Asher, St. Louis, in ten rounds. -Kansas City Overall clubs be. ing formed in many cities through out southwest in protest against high clothing costs, according to reports received here. -New York-Striking coastwise longshorement voted not to return to work until they are paid name wages as deep sea long-horemen.

2. April 17, 1920 The Morning Tulsa Daily World Tulsa, OK

Article from The Morning Tulsa Daily World, April 17, 1920

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Article Text

A TYPICAL TULSA INCIDENT. Due to causes which need not be enumerated here but which in no sense reflected on the stability of the community, the American National bank of Tulsa came into difficult waters. A bank examiner was in charge of the Institution and, after several days, during which various plans for keeping the institution open had been considererd, had ordered the doors closed. A large crowd of heart-broken depositors were clamoring about the entrance. At that moment Robert McFarlin, vice president of another Tulsa bank appeared before the stricken depositors. He mounted a convenient automobile and told the crowd that his bank in company with the other banks of the city, had just decided to assume full responsibility for the defunct institution and would pay every depositor in full. The near-panic stopped as suddenly as it began. Confidence was restored. In a few moments the throngs surged along the streets in pursuit of their usual duties. The crowd in front of the doors of the American National melted away, some to deposit their pass books with the relief bank as instructed; others, reassured to the utmost, to hurry back to factory. store or building project. The rising tide of Tulsa business, which hesitated for a brief moment, rose higher and gathered greater force. The morning after found Tulsa stronger than ever. We mention thus prominently this incident as showing the typical Tulsa spirit. There have been other cases where the local clearing house bolstered up a weak bank; some cases where one bank took over such an institution. But we doubt if there is another case of record where the local clearing house by one less than unanimous vote. took over # wreeked bank already closed, assumed full responsibility for possible loss, and for no other purpose than to serve the community. We think the net result is this: What promised to be a tragic liability has been converted into an asset of considerable proportions. We do not like to appear guilty of self praise, but we fancy that the action was precisely what the outside world expected of Tulsa. This community in most things has always been different. It has followed no established rule or precedent in developing itself. Where other communities sought government or political aid in town building. Tulsa did it herself. Everything in this community stands as a monument to Tulsa pride, aggressiveness, courage and independence. We like to think of this phase of Tulsa. It is its chief glory and its strongest foundation stone. For what no outside interest has given no outside influence can take away. That there are no wage earners mourning the loss of their all today is due to that fine and splendid spirit which builded the town in the first instance. and has not hesitated to rescue it from threatened danger on more than one occasion. In the face of this demonstrated fact how foolishly absurd for classism to be talked here, much less to be practiced!