22235. National Bank (Oakesdale, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9150
Charter Number
9150
Start Date
December 16, 1926
Location
Oakesdale, Washington (47.128, -117.243)

Metadata

Model
gpt-5-mini
Short Digest
3762ff7c

Response Measures

None

Receivership Details

Depositor recovery rate
68.0%
Date receivership started
1926-12-21
Date receivership terminated
1932-03-09
OCC cause of failure
Governance
Share of assets assessed as good
32.4%
Share of assets assessed as doubtful
28.6%
Share of assets assessed as worthless
39.0%

Description

Articles state the bank closed its doors December 16, 1926 and a receiver (J. L. Eckerson) was appointed; later court actions (1929) and dividend distributions (1930) by the receiver are reported. The failure is attributed to the collapse of the grain market and subsequent conditions (local shock). No contemporaneous run is described in the provided items.

Events (6)

1. May 28, 1908 Chartered
Source
historical_nic
2. December 16, 1926 Suspension
Cause
Local Shock
Cause Details
Failed following collapse of the grain market and subsequent adverse conditions; bank closed its doors Dec. 16, 1926.
Newspaper Excerpt
the bank which closed its doors December 16, 1926.
Source
newspapers
3. December 21, 1926 Receivership
Source
historical_nic
4. May 16, 1929 Receivership
Newspaper Excerpt
Mrs. Myrtle D. Davis ... ordered pay $1500 to Eckerson, receiver for the National Bank of Oakesdale, under an order issued today by Federal Judge J. Stanley Webster at the conclusion of a twoday trial.
Source
newspapers
5. December 4, 1929 Receivership
Newspaper Excerpt
the bank which closed its doors December 16, 1926 ... suit filed in United States district court today by ... Eckerson, receiver for the defunct National Bank of Oakesdale.
Source
newspapers
6. June 14, 1930 Receivership
Newspaper Excerpt
J. L Eckerson, receiver for the First Exchange National bank, also receiver for the National Bank of Oakesdale ... is at Oakesdale distributing a 10 per cent dividend ... A 45 per cent dividend having previously been paid.
Source
newspapers

Newspaper Articles (5)

Article from Spokane Chronicle, May 16, 1929

Click image to open full size in new tab

Article Text

ORDERED TO PAY BANK'S RECEIVER Mrs. Myrtle D. Davis and her sons, Barber F. Davis and M. Davis, Spokane, ordered pay $1500 to Eckerson, receiver for the National Bank of Oakesdale, under an order issued today by Federal Judge J. Stanley Webster at the conclusion of a twoday trial.


Article from Spokane Chronicle, May 16, 1929

Click image to open full size in new tab

Article Text

ORDERED TO PAY BANK'S RECEIVER Airgraph. the Spokane Family Said to H Transferred Oakesdale Stock. Mrs Myrtle D. Davis and her sons, Barber Davis and M. Davis, of Spokane, were ordered pay $1500 to Eckerson, celver for the National Bank Oakesdale, under issued today by Federal Judge Stanley Webster at the conclusion of twoday trial. amount represents the double liability on bank stock the which the Davises transferred months before the bank failed, in January, Mr. Eckerson claimed the stock transferred bank imminent danger of failing, that the ger of failure that should escape the liability under the law of $100 share on 15 shares. Judge Webster upheld all eontentions the receiver, funds and the courts scrutinize closely stock great when might involve suffering of loss by depositors of the bank.


Article from Spokane Chronicle, December 4, 1929

Click image to open full size in new tab

Article Text

PROPERTY DEED INVOLVED IN SUIT Charles Robinson Wrongfully Lot to Wife, Is Charge. Charges that Charles D. Rebinson of Spokane deeded lot in Cannon's addition to his wife to isfaction of judgment held against him Eckerson. for the defunet National Bank of Oakesdale, contained in suit filed in United States district court today by charges conThe tained previous suit brought in which and by the charged that while it cer of the Oakesdale bank Robinson had defrauded the out of $2028 by his the consent of the count without of the case constitutes one career of the high lights in the bank, which closed its doors De. cember 16, 1926. at which time Robinson its president bank contends that the Robinson debt to the bank lated prior to the deeding of the wife property complaint further sets forth February the that erty mortgaged Pacific Savings Loan association for more $4500 and that there is now due and owing on that mortgage receiver that the deed the from Robto Mrs. Robinson aside that the bank's judgment Robinson be made lien against against the property


Article from Spokane Chronicle, December 4, 1929

Click image to open full size in new tab

Article Text

PROPERTY DEED INVOLVED IN SUIT Charles Robinson Wrongfully Transferred Lot to Wife, Is Charge. Charges that Charles D. Robinson of Spokane deeded lot in Cannon's addition to his wife to prevent sat isfaction of judgment held against him by Eckerson. receiver for the defunct National Bank of Oakesin United States district court to. day by tained previous suit brought and won by the receiver, in which it was that while an officer the Oakesdale bank Robinson had defrauded the institution of $2028 by his count without the consent of the directors case constitutes one of the high lights in the career of the bank which closed its doors December 16, 1926, at which time RobThe bank contends that the Robinson debt to the bank isted prior to the deeding of the property to the wife The complaint further sets forth that on February 9, 1927, the property was mortgaged to the Paelfic Savings and association for more than $4500 and that there is now due and owing on that mort. gage $2881 The receiver asks that the deed the property from Rob. inson Mrs set aside and that bank's judgment against Robinson be made a lien against the property


Article from The Coeur d'Alene Press, June 14, 1930

Click image to open full size in new tab

Article Text

Oakesdale Bank To Disburse Dividend J. L Eckerson, receiver for the First Exchange National bank, also receiver for the National Bank of Oakesdale and other banks in Washington, is at Oakesdale distributing a 10 per cent dividend recently declared This makes per cent dividend disbursed for depositors of the Oakesdale bank. A 45 per cent dividend having previously been paid. The bank failed eral years ago, following collapse/of the grain market and subsequent conditions. MISS LORETTA DUNNIGAN, who has been teaching at the Sacred Heart school in Spokane dur ing the last year, is spending her summer vacation at her home, 720 Ninth stret. She has been spending several days at Newman lake. JAMES POTTER, who has been attending university at Moscow, left Saturday for his home in-Ontario, Ore where he will spend the summer vacation. He has been spending several days here. visiting relatives.