First State Bank - Wagoner, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 21, 1922
Location: Wagoner, Oklahoma (35.960, -95.369)

Metadata

Model: gpt-5-mini
Short Digest: de624a72

Response Measures

None

Description

Article (Dec 21–22, 1922) reports a notice that affairs were in the hands of the state bank commissioner and that the bank had been closed; commissioner/examiner involvement implies a government-placed suspension/receivership. President attributed the suspension to bonding companies refusing to renew insurance on city and county funds. No reopening is mentioned.

Events (1)

1. December 21, 1922 Suspension

Cause: Government Action
Cause Details: State bank commissioner/examiner placed the affairs of the bank in his hands after the bank was closed; president said bonding companies had refused to renew insurance on city and county funds, precipitating the suspension.
Newspaper Excerpt: A notice was posted on the entrance of the First State bank this morning announcing the affairs of the institution were in the hands of the state bank commissioner.
Source: newspapers

Newspaper Articles (1)

1. December 22, 1922 The Morning Tulsa Daily World Tulsa, OK

Article from The Morning Tulsa Daily World, December 22, 1922

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Article Text

EXAMINER IN CHARGE First State Bank at Wagoner Had Over $24,000 on Hand, According to Figures September 15. By the Associated Press State Wire. WAGONER, Dec. 21.-A notice was posted on the entrance of the First State bank this morning announcing the affairs of the institution were in the hands of the state bank commissioner. President E. F. Case who purchased a controlling interest in the bank last fall said he would have a statement to announce as soon as a state bank examiner arrived. Case came to Wagoner a year ago from Wilson where he was connected with a bank. Later President Case Issued a statement saying that the bank's suspension was precipitated by bonding companies refusing to renew their insurance on city and county funds on deposit in the bank. OKLAHOMA CITY, Dec. 21.-Roy Walcott, state bank commissioner, and today when informed that the First State bank at Wagoner had been closed, that he had received no official notification of the action. He said an examiner would not be sent to Wagoner until he was thus advised. The capitalization of the bank is $50,000 and the deposits $241,208.88, according to the commissioner who quoted figures of September 15, the latest available.