22264. First National Bank (Pasco, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9265
Charter Number
9265
Start Date
October 13, 1925
Location
Pasco, Washington (46.240, -119.101)

Metadata

Model
gpt-5-mini
Short Digest
83aad41f

Response Measures

None

Receivership Details

Depositor recovery rate
78.6%
Date receivership started
1925-11-21
Date receivership terminated
1930-03-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
44.0%
Share of assets assessed as doubtful
29.9%
Share of assets assessed as worthless
26.1%

Description

Articles state the First National Bank of Pasco suspended on October 13, 1925, entered liquidation, and a receiver (John J. Rudkin, later succeeded by Schilling) administered liquidation for several years with dividend payments. No contemporaneous run is mentioned, and the bank remained in receivership/liquidation rather than reopening.

Events (7)

1. November 3, 1908 Chartered
Source
historical_nic
2. October 13, 1925 Suspension
Cause Details
Article only states the bank suspended on October 13, 1925; no explicit cause (rumor, insolvency, or government action) is given.
Newspaper Excerpt
The bank suspended to the October 13. 1925.
Source
newspapers
3. November 21, 1925 Receivership
Source
historical_nic
4. May 21, 1926 Other
Newspaper Excerpt
PASCO BANK TO PAY BIG DIVIDEND SOON ... 50 per cent dividend be paid at an early date.
Source
newspapers
5. May 21, 1926 Receivership
Newspaper Excerpt
receiver of the First National Bank of Pasco ... The bank suspended to the October 13. 1925. ... dividend be paid at an early date. ... checks forwarded to Washington, D. for approval and signature. As soon as they are returned here signed and approved the payment be made.
Source
newspapers
6. November 21, 1928 Other
Newspaper Excerpt
The bank has paid 70 per ... The Pasco bank has been process liquidation for more than three years
Source
newspapers
7. November 21, 1928 Receivership
Newspaper Excerpt
Named Schilling Pasco Bank Receiver ... receiver for the First National ... The Pasco bank has been process liquidation for more than three years and will probably be ready for closing the trust with short time.
Source
newspapers

Newspaper Articles (3)

Article from The Tacoma Daily Ledger, May 21, 1926

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Article Text

PASCO BANK TO PAY BIG DIVIDEND SOON PASCO, May Rudkin. ceiver of the First National Bank of Pasco, that 50 per cent dividend be paid at an early date. All have been and all checks forwarded to Washington, D. for approval and signature. As soon as they are returned here signe and approved the payment be made The bank suspended to the October 13. 1925. on


Article from The Bulletin, November 21, 1928

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Article Text

Named Schilling Pasco Bank Receiver receiver for the First National returned morning from Pasco, Wash. where he has been named colver for the First National Bank Pasco. He succeeds John Rudwho died short time ago. The Pasco bank has been process liquidation for more than three years and will probably be ready for closing the trust withshort time. Schilling stated. The bank has paid 70 per Schilling will retain his restdence Bend and may transfer the assets of the Pasco bank he stated on his return. also liquidating the don bank trust and since comBend May. 1927 has completed liquidating the assets the Bandon bank.


Article from White Bluffs Spokesman, November 23, 1928

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Article Text

# WASHINGTON NEWS ITEMS OF INTEREST Brief Resume of Happenings of the Week Collected for Our Readers. John J. Rudkin, 62, receiver of the First National bank of Pasco, died last week in the Pasco hospital. The longest log train ever to arrive in Bellingham rolled into that city recently with 75 cars containing 600,000 feet of logs. Roland Prather, 55, was struck by an automobile and killed as he was walking on the Bucoda highway north of the city limits. Directories just published by R. L. Polk & Co. estimate the population of Tacoma at 137,750, Bellingham at 41,637, and Everett 38,000. The Spokane Interstate fair earned a profit of between $8000 and $9000 at its 1928 fair, according to a report of Thomas S. Griffith, the president. N. E. Doble was crushed severely when he was struck by a falling tree while working at the Hammond Lumber company logging camp east of Kelso. P. D. Schmidt, manager of the United States employment office at Wenatchee, reports that during October he sent 2470 men to jobs in Wenatchee valley. E. W. Wagner, cashier of the Farmers National bank, who was shot in the back October 2 by an unknown assailant, is convalescing at his home in Colfax. With an increase during the year of $550,000, agriculture, dairying and allied industries of Snohomish county have reached an annual value of $9,300,000. An effort to consolidate the Orchards and Burton school districts in Clark county failed. The vote in Burton district was four to one against consolidation. At a special school election in Wenatchee recently the voters approved a bond issue of $245,000 for the erection of a junior high school. The vote was 535 to 137. Everett now has a seven-day-a-week newspaper, the first edition of the Sunday Morning Herald, published by Mrs. Gertrude Best, appearing recently with 68 pages. The Toledo city council has decided to call a speciol election to vote on the question of issuing $25,000 worth of bonds for the rebuilding of the city's water system. Fire, which started from an overheated stove in a barber shop Sunday morning destroyed the entire business section of Grotto in King county, causing a loss of $50,000. Miss Lynn Landau, 23, home economics teacher in the Mossyrock schools, has received word that she is the sole heir to a $275,000 estate left her by an uncle in Illinois. By a vote of 197 to 1, stockholders of the Northwest Washington Fair association have decided to turn over the assets and liabilities of the association to Whatcom county. Mrs. Lucile McDonald, 30, died at Bellingham last Monday from poison. She asked her 7-year-old daughter to get her some headache tablets and the child delivered poison by mistake. Suit to recover $50,000 claimed to have been pledged by William H. Glass, Seattle capitalist, has been filed in superior court at Seattle by the College of Puget Sound at Tacoma. King county voters at the recent election approved three improvement bond issues calling for the expenditure of $3,930,000. Financing a new county hospital was given the heaviest vote. Building permits were issued in Wenatchee during the first 10 months of 1928 for new construction valued at $1,164,890, breaking the record for any 10 months in the history of the city. Incorporation papers have been executed for the new $300,000 Palouse Pulp & Paper company at Palouse. The capacity of the mill will be 20 tons a day, and 32 men will be employed. A posse of Great Northern tunnel workers, headed by Elmer Thackston, deputy sheriff, combed the Skykomish-Scenic region for two bandits who held up the A. Guthrie & Co. recreation hall at Scenic and escaped with $1000 in cash and pay checks. The bandits were unmasked and held up the crowded hall 15 minutes after Thackston had left. With one leg torn by an accidental shot from his own gun, while hunting deer in the Coeur d'Alene district, Idaho, Albert M. Warren of Yakima died from exposure and loss of blood before his son, Clifford, his companion on the expedition, could get assistance. Mrs. V. I. Tucker, wife of the principal of the Hover school near Kennewick, was accidentally killed last week. She was getting clothes from a closet shelf and knocked down a