Articles report the First National Bank of Oroville suspending operations (closed doors) in early February 1926 due to local agricultural loan losses (farmers unable to meet notes). A national bank examiner was in charge and by June 1926 a receiver (Richardson) was handling suits after the Comptroller adjudged the bank insolvent, indicating permanent closure/receivership.
Events (4)
1.June 28, 1906Chartered
Source
historical_nic
2.February 2, 1926Suspension
Cause
Local Shock
Cause Details
Inability of local farmers to meet loan notes (agricultural loan losses) forced the bank to suspend operations.
Newspaper Excerpt
OROVILLE BANK CLOSES DOORS ... inability of farmers to meet their notes to the bank forced it the wall. We have not been able to determine If the bank will be able to reopen.
Source
newspapers
3.February 8, 1926Receivership
Source
historical_nic
4.June 10, 1926Receivership
Newspaper Excerpt
Receiver Seeks to Make Ends Meet. ... suits to collect outstanding stock shares in the insolvent First National Bank of Oroville ... Richardson, receiver ... when the comptroller of currency adjudged the bank insolvent.
Source
newspapers
Newspaper Articles (2)
1.February 2, 1926Spokane ChronicleSpokane, WA
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Article Text
OROVILLE BANK CLOSES DOORS ity to realize loans caused suspension of the First National bank here The institution in charge of Marshall Hooper. Seattle, national bank examiner. The bank is capitalized for $50,000 and deposits reported on the call of December 31, were in the agricultural inlast few are responsible for the suspension.' said President Covert "Total resources the institution are close to $200.000. but inability of farmers to meet their notes to the bank forced it the wall. We have not been able to determine If the bank will be able to reopen.
2.June 10, 1926The Spokane PressSpokane, WA
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Article Text
COLLECT BANK SHARES
Receiver Seeks to Make Ends Meet.
Two suits in law. to collect out standing stock shares in the insol vent First National Bank of Oro ville and another suit equity to prevent the collection of taxes on the personal property of the bank and sale property the sher iff. were filed in the office of Fed eral Clerk Harry Clark today Richardson. receiver. complaints assert that the bank founded upon capital stock that the 1000 shares summoned when the comptroller of currency adjudged the bank insolvent. Werley said to be the owner of share of the outstanding stock and Frank Bartell the owner of the remaining two shares. Judgment asked the basis $100 per share, plus per cent interest and costs the case.
