3485. First National Bank (Rupert, ID)

View Charter #10429 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10429
Charter Number
10429
Start Date
January 27, 1923
Location
Rupert, Idaho (42.619, -113.677)

Metadata

Model
gpt-5-mini
Short Digest
ccbfb3bad265963f

Response Measures

None

Receivership Details

Depositor recovery rate
10.6%
Date receivership started
1923-02-07
Date receivership terminated
1927-07-20
OCC cause of failure
Governance
Share of assets assessed as good
8.1%
Share of assets assessed as doubtful
47.5%
Share of assets assessed as worthless
44.5%

Description

The First National Bank of Rupert closed (suspended) in early 1923 and remained closed, entering receivership and paying dividends later. Articles mention the closure occurred about three weeks before Feb 17, 1923; by 1925 there is a federal receiver handling the defunct bank and paying dividends. No article describes a depositor run on this specific bank prior to suspension (other banks' runs are mentioned), so this is a suspension leading to permanent closure with receivership.

Events (6)
1. August 5, 1913 Chartered
Source
historical_nic
2. January 27, 1923 Suspension
Cause Details
Article context: First National bank closed about three weeks before Feb 17, 1923; specific trigger not given in the articles beyond loss of confidence in the community.
Newspaper Excerpt
A steady withdrawal of funds by skeptical depositors followed the closing of the First National bank here thre weeks ago.
Source
newspapers
3. February 7, 1923 Receivership
Source
historical_nic
4. May 28, 1925 Receivership
Newspaper Excerpt
Robinson, receiver for the First National Bank of Burley and the First National Bank of Rupert, has tendered his resignation to the federal comptroller, effective as soon as another receiver is sent here.
Source
newspapers
5. December 3, 1925 Other
Newspaper Excerpt
Depositors of the defunct First National bank of Rupert will receive per cent dividend within the next three weeks, according to Receiver W. A. Heiss.
Source
newspapers
6. June 17, 1926 Other
Newspaper Excerpt
W. A. Heiss has resigned as receiver of several failed Southern Idaho banks ... the receiverships which Mr. Heiss resigns are the First National Bank of Burley, First National Bank of Rupert ...
Source
newspapers

Newspaper Articles (4)
1. February 17, 1923 Mountain Home Republican Mountain Home, ID
Article from Mountain Home Republican, February 17, 1923

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Article Text

LAST BANK IN RUPERT CLOSES Suspension of Rupert National Leaves City Without Institution. With the published statement that "this bank is closed on account of a lack of confidence of the community," the Rupert National bank, the sole remaining bank in the city, closed its doors at 1 o'clock Wednesday afternoon. With the suspension of business the surrounding rich farming territory is left without a single one of the original three financial institutions operating here. A steady withdrawal of funds by skeptical depositors followed the closing of the First National bank here thre weeks ago. Ninety days ago the Farmers' and Merchants' bank a state institution, closed its doors.

2. May 28, 1925 South Idaho Press Burley, ID
Article from South Idaho Press, May 28, 1925

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Article Text

Robinson Resigns As Bank Receiver Robinson. receiver for the First National Bank of Burley and the First National Bank of Rupert, has tendered his resignation to the federal comptroller, effective as soon as another receiver is sent here. Mr. Robinson will devote all of his time this summer to construction work. His company contracts to approximately $250,000 for road work Nevada. One job includes stretch of new road 30 miles long.

3. December 3, 1925 The Burley Herald Burley, ID
Article from The Burley Herald, December 3, 1925

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Article Text

FIRST NATIONAL BANK TO PAY DIVIDEND Rupert News: Depositors of the defunct First National bank of Rupert will receive per cent dividend within the next three weeks, according to Receiver W. A. Heiss, in Rupert today. "We had hoped to make the first dividend 10 per cent." Mr. Heiss told News man "but we find this impossible now. This will not be the last dividend, however." Depositors in the old Burley First National must not get excited when they read the above heading. It's Rupert bank that is paying the little measley dividend of per cent. It's not time for the Burley First National to pay dividend. The bank has only been closed matter of four years and the receiver is still on the job, and will likely hang on until there is no cash left to pay the expense of the receivership. then the people will learn all about it. Bank receivers are hanging on like grim death, for it looks as if jobs will be scarce from now on. Let hope so.

4. June 17, 1926 South Idaho Press Burley, ID
Article from South Idaho Press, June 17, 1926

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Article Text

Receiver of Local Bank Has Resigned W. A. Heiss has resigned as receiver of several failed Southern Idaho banks and C. O. Thomas. a national bank receiver of Pocatello, Idaho, will have charge in closing up the remaining business of the institutions. The receiverships which Mr. Heiss, resigns are the First National Bank of Burley, First National Bank of Rupert, First National Bank of Wendell and City National of Jerome. First National Bank of Burley, elosed November 19th, 1921. Mr. Heiss appointed receiver May 28, 1925. Divinone. As the Wendell and Burley banks assets were sold some time ago, the affairs of these two banks are practically ready to be closed.