3466. Stockmens National Bank (Nampa, ID)

View Charter #11609 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
11609
Charter Number
11609
Start Date
April 16, 1927
Location
Nampa, Idaho (43.541, -116.563)

Metadata

Model
gpt-5-mini
Short Digest
f8b363a322f0eb80

Response Measures

Public signal of financial health, Capital injected, Full suspension, Books examined

Receivership Details

Date receivership started
1927-05-27
Date receivership terminated
1927-07-15

Description

Articles (Apr–May 1927) report heavy withdrawals after a false statement/rumor that Stockmens National was a branch of the troubled Northwestern National (Portland). Directors suspended payment and did not open Monday; an examiner was called. By mid-May reorganization plans with outside (San Francisco) interests were announced and a tentative reopening date (May 25, 1927) was given. OCR variants corrected (Stockmen's / Stockmens). Dates inferred from publication dates: run on Saturday April 16, 1927 (heavy withdrawals Saturday), suspension/closure to the public on Monday April 18, 1927, reopening planned May 25, 1927.

Events (9)
1. February 14, 1920 Chartered
Source
historical_nic
2. April 16, 1927 Run
Cause
Rumor Or Misinformation
Cause Details
A false statement/rumor that the Stockmen's National bank was a branch of the Northwestern National bank of Portland (which had been in financial straits) triggered depositor alarm and heavy withdrawals.
Random Run
Yes
Random Run Snippet
false statement that bank was branch of Northwestern National Portland
Measures
Bank held $100,000 in cash but directors, after consulting business men, decided not to open Monday and to suspend payments to protect all depositors.
Newspaper Excerpt
There were heavy withdrawals Saturday.
Source
newspapers
3. April 18, 1927 Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors suspended payments due to unfounded but persistent rumors and the prospect of withdrawals getting beyond control; an examiner was called to investigate.
Newspaper Excerpt
failed to open for business Monday... directors have decided to suspend payment until matters have been adjusted.
Source
newspapers
4. May 15, 1927 Other
Newspaper Excerpt
Plans for re-organizing the Stockmen National bank which closed April 18 have been completed... hoped to reopen the bank May 25.
Source
newspapers
5. May 25, 1927 Reopening
Newspaper Excerpt
it was hoped to reopen the bank May 25. Telegraphic word ... had formally approved the reorganization plans for the Stockmens National bank.
Source
newspapers
6. May 27, 1927 Receivership
Source
historical_nic
7. July 14, 1927 Voluntary Liquidation
Source
historical_nic
8. July 15, 1927 Restored To Solvency
Source
historical_nic
9. July 15, 1927 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (4)
1. April 19, 1927 Evening Baker Herald Baker City, OR
Article from Evening Baker Herald, April 19, 1927

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Article Text

STREET RUMORS FORCE NAMPA BANK TO CLOSE Stockmen's National Thoroughly Solvent, to Pay Depositors in Full BANK IN GOOD SHAPE Connection With Northwestern In Portland Is Rumored Nampa Free Press Foolish rumors, based on a false statement that the Stockmen's National baink of this city was a branch of the Northwestern National bank of Portland, the bank that was recently in financial straits, caused run on the Stockmen's bank, which resulted In the latter failing to open its doors Monday morning. The Stockmen's bank never had any connection whatever at any time with the aforesaid Portland institution, but that made no difference to the rumor peddlers. The April statement of the Stockmen's showed the bank to be in a flourishing condition with ample resources. But that fact had no influence on rumors. There were heavy withdrawals Saturday. The band had $100,000 in cash for Monday morning, but after consulting business men, the bank officials concluded to not open for business. Chairman Craven of the board of directors. stated to a Free Press representative that the bank is absolutely solvent and will either re-organize and open for business or will liquidate by paying every depositor his claim in full. In any event, the conditions brought about are most unfortunate, causing loss of confidence and the inconvenience to depositors who have immediate use for their money. That depositors will receive every cent seems certain. The board of directors, in session Monday afternoon, issued the following signed statement: Statement of Directors Owing to unfounded but persistent rumors regarding the Stockmen's National bank the latter, part of last week, many depositors became alarmed and substantial withdrawals resulted, with the prospect of getting beyond control on Monday morning of this week. The directors, after full consideration, reached the conclusion that, although the bank was solvent, in order to equally protect all depositors, it was to the best interest of the depositors to suspend. An examiner will be in charge Wednesday, when any plans for the future will be developed.

2. April 19, 1927 The Ogden Standard-Examiner Ogden, UT
Article from The Ogden Standard-Examiner, April 19, 1927

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Article Text

NATIONAL BANK IN NAMPA CLOSED NAMPA Ida.: April 19.-(By The Associated Press.) The Stockmen's National bank, with resources of more than a million dollars, according to its last published statement. failed to open for business Monday. The bank was closed by the board of directors. the announcement declaring "on account of unfounded rumors run has been made on this bank and the directors have decided to suspend payment until matters. have been adjusted On the last call on the condition of national banks, March 23, the bank's individual deposits subject to check amounted to $412,228. Resources and liabilities were $1,138,652.28, while paid in capital stock amounted to $75,000.

3. April 20, 1927 The Idaho Statesman Boise, ID
Article from The Idaho Statesman, April 20, 1927

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Article Text

DEVELOPMENTS LACKING IN NAMPA BANK CLOSING NAMPA-No developments were announced Tuesday in connection with the closing Monday of the Stockmen's National bank, and said that nothing definite as the affairs would be until examiner has had time to investigate. Tuesday M. Smoot, said to be nephew of United States Senator Reed Smoot of Utah, arrived Salt Lake. He pertaining the business of the bank as affects its relations with the Federal Reserve the Utah Today bank examiner expected go to work on the books and preliminary statement may be made soon.

4. May 15, 1927 The Idaho Statesman Boise, ID
Article from The Idaho Statesman, May 15, 1927

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Article Text

WILL REORGANIZE Nampa Stockholders and California Interests Agree on Plans to Reopen. NAMPA Plans for re-organizing the Stockmen National bank which closed April 18 have been completed between stockholders and California interests, it was announced at the bank Saturday afternoon. The statement issued was as follows: "Telegraphic word was received Saturday afternoon by T. Mahoney that the board of directors of the Bankfactors' Corporation of San Francisco had formally approved the reorganization plans for the Stockmens National bank." Last week W. T. Dickey, representing the Bankfactors, spent several days here conferring with bank officers, leaving May 7 for the coast to present the reorganization proposal to his directors. It was announced at that time that the proposal had been submitted to the comptroller of the currency for approval and that it was hoped to reopen the bank May 25. Saturday no made as whether the comptroller had forwarded approval. As far as is known now, Mr. Mahoney said, May 25 still remains the tentative date for resuming operations.