20108. First National Bank (Basin, WY)

View Charter #10858 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
10858
Charter Number
10858
Start Date
January 7, 1925
Location
Basin, Wyoming (44.380, -108.039)

Metadata

Model
gpt-5-mini
Short Digest
4d553a1b63e9b203

Response Measures

None

Receivership Details

Depositor recovery rate
75.5%
Date receivership started
1924-06-14
Date receivership terminated
1929-09-23
OCC cause of failure
Economic conditions
Share of assets assessed as good
53.0%
Share of assets assessed as doubtful
34.0%
Share of assets assessed as worthless
13.1%

Description

Articles state the First National Bank of Basin had a receiver (G. C. Dillavou), was 'defunct' and preparations were made to re-open (article dated 1925-01-07). No article mentions a depositor run; later (1926-01-06) the receiver declares a dividend to depositors. Sequence indicates a suspension/receivership followed by reopening and eventual distribution to depositors.

Events (6)
1. May 26, 1916 Chartered
Source
historical_nic
2. June 14, 1924 Receivership
Source
historical_nic
3. January 7, 1925 Other
Newspaper Excerpt
FIRST NATIONAL TO RE-OPEN AT BASIN. G. C. Dillavou, receiver ... announces ... will be able to open in the near future ... Stock necessary for the re-opening of the bank is said to have been fully subscribed.
Source
newspapers
4. January 6, 1926 Other
Newspaper Excerpt
BASIN FIRST NATIONAL DECLARES DIVIDEND. A dividend of 35 per cent has been declared by the First National bank ... G. C. Dillavou, receiver, states that this dividend ... will amount to around $75,000 ...
Source
newspapers
5. * Receivership
Newspaper Excerpt
G. C. Dillavou, receiver of the First National bank of Basin, announces that that institution will be able to open in the near future, and has issued this word to the depositors of the defunct institution for a New Year's present.
Source
newspapers
6. * Suspension
Cause
Government Action
Cause Details
Bank was in receivership under G. C. Dillavou (indicating closure by regulatory/receiver action).
Newspaper Excerpt
the defunct institution
Source
newspapers

Newspaper Articles (2)
1. January 7, 1925 Park County Herald Cody, WY
Article from Park County Herald, January 7, 1925

Click image to open full size in new tab

Article Text

FIRST NATIONAL TO RE-OPEN AT BASIN G. C. Dillavou, receiver of the First National bank of Basin, announces that that institution will be able to open in the near future, and has issued this word to the depositors of the defunct institution for a New Year's present. Stock necessary for the re-opening of the bank is said to have been fully subscribed and the people of Basin are very much pleased with the prospect of the bank again opening its doors.

2. January 6, 1926 Park County Herald Cody, WY
Article from Park County Herald, January 6, 1926

Click image to open full size in new tab

Article Text

BASIN FIRST NATIONAL DECLARES DIVIDEND A dividend of 35 per cent has been declared by the First National bank, the checks to depositors already have been mailed to Washington and as soon as they are signed and returned will be distributed. G. C. Dillavou, receiver, states that this dividend just declared will amount to around $75, 000 and was made possible at this time by the compromise of claims and settlements of suits in addition to collection of debts owing the institution. It is expected the check for distribution will be returned from Washington in about two weeks. Coming at this season of the year, this dividend will be greatly appreciated by the depositors and will aid materially in strenghening the local financial condition. -Basin Republican.