First National Bank (El Paso, TX)

View Charter #2532 on SPMC View balance sheet

Episode Information

Episode UID
253201124
Episode Type
Run Only
Bank Type
national
Bank ID
25320 national
Charter Number
2532
Start Date
August 3, 1893
Location
El Paso, Texas

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
daf59bf055a61bb8

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Other: Business men began depositing heavily to support the bank and counteract the run.

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

The 1907 article describes a regional bank holiday in Northern Texas, but the 1893 article explicitly names a run on this bank.

Events (4)
1. June 6, 1881 Chartered
Source
historical_nic
2. August 3, 1893 Run
Cause
Local Banks
Cause Details
Failure of the El Paso National Bank triggered runs on other local institutions.
Measures
Local business men began depositing heavily to restore confidence.
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. October 28, 1907 Suspension
Cause
Government Action
Cause Details
Regional bank holiday declared across Northern Texas and surrounding territories due to currency shortages in reserve cities.
Newspaper Excerpt
all have taken similar action. The closing is for the purpose of protecting the banks in case of a run.
Source
newspapers
4. September 4, 1931 Receivership
Source
historical_nic

Newspaper Articles (2)
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.

2. October 28, 1907 The Laramie Republican Laramie, WY
Article from The Laramie Republican, October 28, 1907

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Article Text

Oklahoma Banks Close for Week. Oklahoma City, Okla., Oct. 28.-Acting Governor Filson today issued a proclamation closing the banks of the territory for one week, on demand of the bankers. This action was taken because the banks at Kansas City and St. Louis refused to forward cash to the banks of the southwest. Concerted Action Taken. It is said that a consultation of the bankers of Oklahoma, Indian territory, Arkansas and northern Texas by means of the telephone took place during the early hours today, and all have taken similar action. The closing is for the purpose of protecting the banks in case of a run.