First National Bank - El Paso, TX

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 2532
Charter Number: 2532
Start Date: August 3, 1893
Location: El Paso, Texas (31.759, -106.487)

Metadata

Model: gpt-5-mini
Short Digest: a9e273bb

Response Measures

Accommodated withdrawals

Receivership Details

Depositor recovery rate: 52.9%
Date receivership started: 1931-09-04
Date receivership terminated: 1938-07-30
OCC cause of failure: Economic conditions
Share of assets assessed as good: 52.4%
Share of assets assessed as doubtful: 39.0%
Share of assets assessed as worthless: 8.6%

Description

Article (dated 1893-08-03) reports that the El Paso National Bank failed to open, which precipitated runs on the State and First National banks in El Paso. The run on First National subsided after local business men redeposited funds. The subject bank did not suspend according to this article.

Events (3)

1. June 6, 1881 Chartered

Source: historical_nic

2. August 3, 1893 Run

Cause: Local Banks
Cause Details: Run was triggered by the failure of the El Paso National Bank to open and associated heavy withdrawals; distress at a local bank led depositors to withdraw from First National.
Measures: Local business men began depositing heavily to stem the run.
Newspaper Excerpt: Runs immediately began on the State and First National banks, but the business men began depositing heavily and the run subsided.
Source: newspapers

3. September 4, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. August 3, 1893 Rock Island Daily Argus Rock Island, IL

Article from Rock Island Daily Argus, August 3, 1893

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Article Text

Financial Trouble at El Paso. EL PAZO, Tex., Aug. 3-The El Paso National bank. of this city, and its branch at Juarez, Mexico. has failed to open for business, due to the heavy withdrawal of deposits for the last six months and inability to realize on securities. The resources are nearly double the amount of liabilities. Runs immediately began on the State and First National banks, but the business men began depositing heavily and the run subsided.