18261. Citizens State Bank (Webbers Falls, OK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 27, 1929
Location
Webbers Falls, Oklahoma (35.511, -95.130)

Metadata

Model
gpt-5-mini
Short Digest
be2cd6b2

Response Measures

None

Description

The First State Bank of Vian was among 12 Oklahoma state banks that failed to open on/after Nov 27, 1929 following the death of principal stockholder H. A. McCauley; a liquidating agent/receiver was appointed Dec 6, 1929. No article describes a depositor run prior to suspension — closures were ordered after the stockholder's death and the state bank commissioner named a receiver.

Events (2)
1. November 27, 1929 Suspension
Cause
Government Action
Cause Details
State bank commissioner announced 12 state banks failed to open following death of H. A. McCauley, principal stockholder; closures effected by state authorities.
Newspaper Excerpt
The closings were an immediate of the death last night of H. A. McCauley... The banks to be closed were ... First State bank, Vian
Source
newspapers
2. December 6, 1929 Receivership
Newspaper Excerpt
Dr. Cecil Bryan ... was named liquidating agent for the First State bank of Vian ... Bryan will take charge of the two failed banks at once, it was announced by C. Shull, state bank commissioner.
Source
newspapers

Newspaper Articles (4)
1. November 27, 1929 Oakland Tribune Oakland, CA
Article from Oakland Tribune, November 27, 1929

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Article Text

12 Oklahoma Banks Closed by State OKLAHOMA CITY, Okla., Nov. 27. Graves Shull. state bank announced today that twelve state banks failed to open their doors today. The closings were an immediate of the death last night of H. A. McCauley, 55, of Sapulpa, who interested in all The banks to be closed were Sapulpa State bank the Bank of Mounds: Henrietta State bank Bank of Commerce, Welettka: First State bank, Vian: Citizens State bank Webbers Falls; State State bank: First State bank, Terlton: Avant State bank: bank: and the Bank of Kellyville.

2. November 28, 1929 Okmulgee Daily Times Okmulgee, OK
Article from Okmulgee Daily Times, November 28, 1929

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Article Text

12 BANKS CLOSE; 1920 CAUSE OF CRASH (CONTINUED FROM PAGE ONE) deposits, $62,000; capital, $25,000. First State bank, Vian; deposits, $73,000; capital, $10,000. Citizens State bank, Webbers Falls: deposits $157,000; capital, $15,000. Davenport State bank, Davenport: deposits, $151,370; capital. Oilton State bank, Oilton, deposits capital $25,000. First State bank, Terlton. $76,000; capital $10,000. State bank, Avant, capital $15,000. Keystone bank, Keystone, posits capital $10,000. Bank of Kelleyville, deposits 14,000: capital $10,000 The bank which McCauley controlled and which did not close Its doors, was the American State bank of Porum. Shull indicated there pos:lbility that the banks at Henryetta and possibly one or two others might reopen soon.

3. December 6, 1929 The Vian Press Vian, OK
Article from The Vian Press, December 6, 1929

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Article Text

Dr. Cecil Bryan Named Bank Receiver Popular Vian Physician Chosen Receiver for Vian and Webber Falls Failed State Banks. Dr. Cecil Bryan, Vian prysician, was named liquidating agent for the First State bank of Vian and Citizens State bank of Webber Falls, according to nouncement made Thursday by C. Shull, state bank commissioner. Bryan will take charge of the two failed banks at once, it was announced. The First State bank of Vian and Citizens State bank of Webber Falls were among the 12 state banks that failed last week with the death of H. McCauley of Sapulpa, as princpial stock holder of each bank. The Vian bank had approximately in deposits while the Webber Falls bank had They were garded as strong institutions.

4. December 6, 1929 The Democrat-American Sallisaw, OK
Article from The Democrat-American, December 6, 1929

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Article Text

Dr. Cecil Named Bank Receiver Popular Vian Physician Chosen Receiver for Vian and Webber Falls Failed State Banks. Dr. Cecil Bryan, Vian physician, named liquidating agent for the First State bank of Vian and Citizens State bank Webber according nouncement made Thursday by Shull, state bank commissioner. Bryan will take charge of the two failed banks at once, was announc- The First State bank of Vian and Citizens State bank of Webber among the state banks that last week with the death McCauley of Sapulpa, as princpial stock holder of each bank. The Vian bank had approximately in deposits while the Webber Falls bank had $150,000. They were garded strong institutions.