18254. Peoples Bank & Trust Company (Wann, OK)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
trust company
Start Date
August 1, 1922*
Location
Wann, Oklahoma (36.915, -95.804)

Metadata

Model
gpt-5-mini
Short Digest
ce00d640

Response Measures

Capital injected, Full suspension

Other: Sold to new owner and reorganized; reopened with increased capital.

Description

Newspapers (Aug 1–4, 1922) report an excessive run caused by a rumor that the bank's assets were tied up in a failed Bartlesville bank; the run forced the bank to close but it was purchased and reorganized and will commence business (reopen) under new control.

Events (3)
1. August 1, 1922 Reopening
Newspaper Excerpt
J. M. Vincent...has bought the controlling interest in the Peoples Bank & Trust company at Wann...The reorganized institution will commence business with $15,000 capital, $5,000 more than the former bank had.
Source
newspapers
2. August 1, 1922 Suspension
Cause
Rumor Or Misinformation
Cause Details
Closed because of the run triggered by rumor about assets in failed Bartlesville bank
Newspaper Excerpt
Peoples Bank & Trust company at Wann, which was forced to close its doors recently on account of an excessive run.
Source
newspapers
3. August 1, 1922* Run
Cause
Rumor Or Misinformation
Cause Details
Rumor that most of its assets were in a Bartlesville bank which had failed
Newspaper Excerpt
was forced to close its doors recently on account of an excessive run.
Source
newspapers

Newspaper Articles (2)
1. August 2, 1922 The Morning Tulsa Daily World Tulsa, OK
Article from The Morning Tulsa Daily World, August 2, 1922

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Article Text

DEFUNCT BANK IS SOLD Nowata Banker Purchases Control of Wann Firm and Reorganizes It. Special to The World. BEGGS. Aug. 1.-J. M. Vincent. vice president of the First National bank here, has bought the controlling interest in the Peoples Bank & Trust company at Wann, which was forced to close its doors recently on account of an excessive run. The reorganized institution will commence business with $15,000 capital, $5,000 more than the former bank had. The bank was not really insolvent, but had to close its doors on account of a rumor that most of its assets were in a Bartlesville bank which had failed,

2. August 4, 1922 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, August 4, 1922

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Article Text

Defunct Bank Is Sold BEGGS.-J. M. Vincent, vice president of the First National Bank here, has bought the controlling interest in the Peoples Bank and Trust Company at Wann, which was forced to close its doors recently on account of an excessive run.