First National Bank - Wanette, OK

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6641
Charter Number: 6641
Start Date: May 8, 1930
Location: Wanette, Oklahoma (34.962, -97.033)

Metadata

Model: gpt-5-mini
Short Digest: ccb8459a

Response Measures

None

Receivership Details

Depositor recovery rate: 27.5%
Date receivership started: 1930-03-24
Date receivership terminated: 1936-12-29
OCC cause of failure: Governance
Share of assets assessed as good: 33.3%
Share of assets assessed as doubtful: 54.5%
Share of assets assessed as worthless: 12.2%

Description

Articles (May 1930) describe the First National Bank of Wanette as a defunct institution with assets placed into receivership and royalty transfers to the receiver. No run or depositor agitation is described; the bank is closed and in receivership, so classified as suspension_closure.

Events (5)

1. February 21, 1903 Chartered

Source: historical_nic

2. March 24, 1930 Receivership

Source: historical_nic

3. May 8, 1930 Receivership

Newspaper Excerpt: F. L. Miller, former president of the institution has transferred the royalty to the receivership of the institution.
Source: newspapers

4. May 8, 1930 Suspension

Cause Details: Bank already defunct/failed and placed in receivership prior to the articles; no run described.
Newspaper Excerpt: Wanette's Defunct Institution... transferred the royalty to the receivership of the institution.
Source: newspapers

5. May 22, 1930 Other

Newspaper Excerpt: the former president, Miller, of the most recent defunct institution Wanette, The First National Bank, has transferred several hundred acres royalty to the bank receiver since surrender to authorities and subsequent release bond.
Source: newspapers

Newspaper Articles (3)

1. May 8, 1930 Shawnee News-Star Shawnee, OK

Article from Shawnee News-Star, May 8, 1930

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Article Text

BANK DEPOSITORS SEE PAYOFF HOPE Wanette's Defunct Institution G Additional Royalty Consignments In addition to twenty-nine parcels of royalty consigned during April to Jeff H. for the defunct First National bank of Wanette, court records for last week showed that F L. Miller, former president of the institution has transferred the royalty to the receivership of the institution. 5-80 1-2 SW 29-7-4. 5-118 SW nw and 19 in nw nw 7-6-4 1-16 1-2 SW 28-6-4. 1-16 1-2 SW 34-6-4. 3-40 ne nw 10-7-3. 7-80 ne nw 22-6-3. 1-8 se ne & ne & 1-2 nw se SW nw se 3-24 1-2 nw SW se SW 34-6- 3. 1-16 ne SW 30-6-2. (All above in Pottawatomie county. 1-20 ne se 34-6-7, Seminole Considerable hope was expressed by depositors of the bank as to a possible liquidation of deposits by oil recovery or sale of the parcels listed above including total of 120 acres in 22-6-3 and 23-6-3. These acreages an 80 and 40 are within half-mile of the discovery shallow sand gusher of in 226-3 and at value are considered worth as high as $50,000. Whether the bank receiver will dispose of them at present or hold for production could not be learned. Other acreages transferred during the past month. some of which are included in the list above, are considered strategically located to warrant belief that financial recovery will be made by the bank in the near future.

2. May 22, 1930 The Tecumseh Oil Record Tecumseh, OK

Article from The Tecumseh Oil Record, May 22, 1930

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Article Text

STAKES ANOTHER WELL Asher Play Beginning to Get Hot Show in Latest Well Following the discovery of the shallow sand satisfactory depth by core, the Wilcox and Gas company Wednesday drove stake for sister well to the impending gusher. The new location will known as No. Atkins in the southwest northwest southwest of section 23-6-3, location south of their No. Atkins Casing being run on the No. well during the day and expected that the changing rotary for cable tools will completed by the middle of next the Asher area will get its second test the sand called Cromwell by some geoloThe Wilcox well will be the first the field, however, to drill directly into the sand and actually producing The well, Bullock by the oil company of that name which drilled by the Payne Drilling company producing at from casing The No. Davidson the southwest northwest of 23preparing the core having 3410 The Payne barrels during the past twenty four hours. Othexpected to be spotted during the next few days, foltest the Wilcox well. Benefit in the matter recovof bank funds, expected by Wanette citizens if the field continues expand in almost any direction, since the former president, Miller, of the most recent defunct institution Wanette, The First National Bank, has transferred several hundred acres royalty to the bank receiver since surrender to authorities and subsequent release bond. Another bank failure seven years old, is also expected recover point of probable additional dividend payments because the activity

3. May 22, 1930 Shawnee News-Star Shawnee, OK

Article from Shawnee News-Star, May 22, 1930

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Article Text

WILCOX STAKES ANOTHER Asher Play Beginning To Get Hot Following Show In Latest Well Following the discovery of the shallow sand at satisfactory depth, 3512-17 by core the Wilcox Oil and Gas company Wednesday drove stake for sister well to the impending gusher The new location will be known as No. 2 Adkins and is in the southwest northwest southwest of section 23-6-3. one location south of the No. Atkins Casing was run on the No. well during the day and pected that the of rotary for cable tools will be by the middle of week and the area will its second test in the sand called Cromwell by some The Wilcox well will be the first in however to drill directly the the sand and actually test its producing The discovery well. No Bullock by the oil company of that which was drilled by the Payne company producing from 3507-10 feet through casing The Indian Illuminating Oil company's No. Davidson in the southwest northwest of 23-6-3 is paring having reached 3410 feet The Payne well 919 barrels during the past 24 hours Other wells expected to be spotted during the next few following test of the Wilcox well Benefit in the matter of recovery of bank funds expected by Wanette citizens the field continues to to expand in almost any direction since the former president. Miller of the most recent defunct institution in Wanette. First National bank several hundred has transferred acres of royalty to the bank receiver since his surrender to authorities and subsequent on bond Another bank failure. seven years old. is to recover to point of probable dividend payments because the activity