22172. First National Bank (Colville, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8104
Charter Number
8104
Start Date
September 21, 1931
Location
Colville, Washington (48.547, -117.906)

Metadata

Model
gpt-5-mini
Short Digest
79b04512

Response Measures

None

Receivership Details

Depositor recovery rate
58.4%
Date receivership started
1931-10-08
Date receivership terminated
1937-10-27
OCC cause of failure
Governance
Share of assets assessed as good
62.0%
Share of assets assessed as doubtful
34.9%
Share of assets assessed as worthless
3.0%

Description

The First National Bank of Colville closed Sept. 21, 1931 after an examination discovered a $25,000+ shortage attributed to cashier A. Rogers (embezzlement). A receiver (Eckerson) was appointed in early October 1931 and the bank remained in receivership with subsequent litigation (1932, 1934). No newspaper text describes a depositor run preceding the suspension; cause is bank-specific adverse information (embezzlement). OCR errors in articles corrected (e.g., Eckerson of Coeur d'Alene, dates interpreted from publication dates).

Events (6)

1. February 21, 1906 Chartered
Source
historical_nic
2. September 21, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed after examination revealed a $25,000 (later reported $25,750) shortage/embezzlement by cashier A. Rogers between 1928 and Sept. 11, 1931
Newspaper Excerpt
The bank closed September 21, following reported shortage of $25,000 in the books of Rogers cashier
Source
newspapers
3. October 8, 1931 Receivership
Source
historical_nic
4. October 9, 1931 Receivership
Newspaper Excerpt
Eckerson of Coeur d'Alene was appointed receiver late yesterday for the First National bank of Colville ... He will arrive in Colville Tuesday ... and take active charge of the bank
Source
newspapers
5. April 1, 1932 Other
Newspaper Excerpt
BANK RECEIVER SEEKING $25,750 ... instituted action in superior court against the New Amsterdam Casualty company ... A. Rogers is alleged to have misappropriated $25,750 from the First National bank
Source
newspapers
6. December 13, 1934 Other
Newspaper Excerpt
Bank Receiver Sues. Suit was filed yesterday ... by Thomas Lally, receiver for the First National Colville, against Fred Cooney and Edith Cooney ... promissory complaint recites ...
Source
newspapers

Newspaper Articles (4)

Article from Spokane Chronicle, October 10, 1931

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Article Text

NAME ECKERSON BANK RECEIVER Eckerson of Coeur was receiver late yesterday for the First National bank of Colville national bank examiner today Plans for reopening the bank had been informally discussed and until yesterday hopes had held that reorganization could be worked The bank closed September 21. following reported of $25,000 in the books of Rogers cashier Deposits $721 000 were reported tied up by the closing Mr. Eckerson has been serving as receiver of the First National bank He will arrive in Tuesday from Can by. Ore. and take active charge of the bank


Article from Spokane Chronicle, October 10, 1931

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Article Text

NAME ECKERSON BANK RECEIVER Eckerson of Coetir d'Alene was appointed receiver late for the First National bank of Colville C. Linden. national bank examiner announced today Plans for reopening the bank had been informally cussed and until yesterday hopes had been held that reorganization could be out The bank September 21, following reported shortage of $25,000 in the books of Rogers cashier Deposits 000 were reported tied up by the closing Mr. Eckerson has been serving as of the First Exchange Na tional bank He will arrive in Colville Tuesday from Canby. Ore. and take active charge of the bank


Article from Spokane Chronicle, April 1, 1932

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Article Text

BANK RECEIVER SEEKING $25,750 of the First National Bank of Colville has instituted action superior court against the New Amsterdam Casually company of New York cover the of A. Rogers is alleged or misappropriated 750 from the First National bank The complaint states that C C. Linden started an examination the bank on September 11, 1931 with result that it was disco that L. Rogers as the bank is alleged. had embezzied and misappropriated to his own use or to some other person not entitled thereto. the sum of $25 750 between March 1928 and September 11. 1931 Mr. Rogers, cashier Henry R. Spedden, vice and Wad- to dell, were under $7500 bond and all other employees under $5000 bond written by the above casualty company. The original bond was issued at premium of 4½ per cent and continuation of the bond each steel year was premium of per cent but each continuation specified that there would exist no liability except for one year Attorneys for the casualty company were granted motion by Judge H. Carey that the receiver make more definite his


Article from The Spokesman-Review, December 13, 1934

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Article Text

BUSINESS IN SOUTH HUMS W. G. Perrow Returns From Trip district manager the comhas from the annual meeting Chicago visit the Tennessee Valley project Although the project smaller that the Coulee dam, Mr. Perrow found city similar in size that The humming increased retail sales influx He found south much interthe building the Grand Coulee Bank Receiver Sues. Suit was filed yesterday United district court by Thomas Lally, receiver for the First National Colville, against Fred Cooney and Edith Cooney Stecounty $750 promissory complaint recites that the was made and that totaling $135 have been made