First National Bank

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: d7c8e159

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 (Jan 7, 1925 and Jan 6, 1926) state the First National Bank of Basin was 'defunct' under receiver G. C. Dillavou and announced it would re-open; no run is mentioned. A receivership was in place and later a dividend was declared in 1926. The original suspension date and cause are not stated in the clippings.

Events (6)

1. May 26, 1916 Chartered

Source: historical_nic

2. June 14, 1924 Receivership

Source: historical_nic

3. January 7, 1925 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

4. January 7, 1925 Reopening

Newspaper Excerpt: FIRST NATIONAL TO RE-OPEN AT BASIN ... 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.
Source: newspapers

5. January 6, 1926 Other

Newspaper Excerpt: 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 ... made possible ... by the compromise of claims and settlements of suits in addition to collection of debts owing the institution.
Source: newspapers

6. * Suspension

Cause Details: Bank had previously failed/closed and was under a receiver; specific cause for suspension not provided in articles.
Newspaper Excerpt: defunct institution
Source: newspapers

Newspaper Articles (2)

1. January 7, 1925 Park County Herald Cody, WY

Article from Park County Herald, January 7, 1925

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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

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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.