First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8528
Charter Number: 8528
Start Date: May 11, 1922
Location: Vale, Oregon (43.982, -117.238)

Metadata

Model: gpt-5-mini
Short Digest: 237426f9

Response Measures

None

Receivership Details

Depositor recovery rate: 7.0%
Date receivership started: 1921-11-15
Date receivership terminated: 1930-07-16
OCC cause of failure: Economic conditions
Share of assets assessed as good: 7.6%
Share of assets assessed as doubtful: 72.9%
Share of assets assessed as worthless: 19.5%

Description

Article (May 11, 1922) states a receiver was appointed for the First National Bank of Vale, indicating the bank had been closed and placed in receivership. No run is mentioned.

Events (4)

1. January 30, 1907 Chartered

Source: historical_nic

2. November 15, 1921 Receivership

Source: historical_nic

3. May 11, 1922 Receivership

Newspaper Excerpt: Ralph Holte of Stanfield, appointed receiver for the First National Bank of Vale, who was in the city yesterday, reports ... He recently returned after a visit to Vale. (East Oregonian, 1922-05-11).
Source: newspapers

4. May 11, 1922 Suspension

Cause: Government Action
Cause Details: A receiver was appointed for the bank, indicating closure by regulatory action or insolvency leading to suspension.
Newspaper Excerpt: Ralph Holte of Stanfield, appointed receiver for the First National Bank of Vale, who was in the city yesterday, reports...
Source: newspapers

Newspaper Articles (1)

1. May 11, 1922 East Oregonian : E.O Pendleton, OR

Article from East Oregonian : E.O, May 11, 1922

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Article Text

J. G. Kelly, editor of the Walla Walla Bulletin, was a Pendleton business visitor yesterday. An executive job with the R. Stanfield Co. keeps F. F. Miller busy. He is here today on a trip over the county inspecting the condition of sheep owned by the company. His headquarters are at Weiser, Idaho. R. J. Curtain, traveling freight and passenger agent for the Union Pacific System, and Jack McLaughlin, traveling passenger agent for the Illinois Central, are in the city today. Mr. McLaughlin was formerly cashier for the O. W. R. & N. To check up on future transportation needs of livestock men in this section is the purpose of a visit here of Dan Clark livestock man for the Oregon-Washington Railroad and Navigation Co. He is also a Round-Up booster. Ralph Holte of Stanfield, appointed receiver for the First National Bank of Vale, who was in the city yesterday, reports that 40 carloads of potatoes have been shipped to Vale for seeding purposes. He recently returned after a visit to Vale.