3937. Security National Bank (Fairfield, ID)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11884
Charter Number
11884
Start Date
November 1, 1931*
Location
Fairfield, Idaho (43.347, -114.792)

Metadata

Model
gpt-5-mini
Short Digest
b39b19db

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1932-03-19
Date receivership terminated
1937-05-13
Share of assets assessed as good
41.3%
Share of assets assessed as doubtful
58.3%
Share of assets assessed as worthless
0.4%

Description

Articles (May 6–7, 1933) report the Security National Bank of Fairfield had been closed, placed in charge of a receiver (L. Bracken) about 18 months earlier, and stockholders planned to liquidate. The Comptroller postponed a 100% assessment in May 1933 after wheat price increases made the bank apparently solvent. OCR corrected minor typos. No bank run is described; the bank was in receivership.

Events (4)

1. December 3, 1920 Chartered
Source
historical_nic
2. November 1, 1931* Receivership
Newspaper Excerpt
about 18 months ago was placed in charge of L. Bracken, former assistant Idaho state treasurer, as receiver.
Source
newspapers
3. March 19, 1932 Receivership
Source
historical_nic
4. May 6, 1933 Other
Newspaper Excerpt
It is the stockholders' purpose ... to take and liquidate the bank's affairs.
Source
newspapers

Newspaper Articles (2)

Article from Deseret News, May 6, 1933

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Article Text

RISE IN WHEAT MAKES CLOSED BANK SOLVENT Currency Comptroller Suspends Assessment Of TWIN FALLS, Idaho, May (AP) comptroller of the currency has postponed, perhaps indefinitely, an order calling pay. ment next May 19 of 100 per cent assessment on the $25,008 stock of the Security National bank of Fairfield, Idaho, which, it is asserted, has been made solvent as result of increasing price of wheat since the Fairfield bank mended the assessment last Feb. Word of the comptroller's action. which is believed to set new precedent, came in a telegram today from United States Senator James P. Pope to Chapman and Chap. man, Twin Falls, attorneys for the Fairfield bank stockholders. It is the stockholders' purpose. the attorneys stated. to take and liquidate the bank's affairs. of there are 78 are Camas Prairie men and farmers. Many of them ac. quired bank stock in reorganiza. tion after the bank closed the first time about two years ago. The bank remained open only about 90 days after reorganization and then about 18 months ago was placed in charge of L. Bracken, former assistant Idaho state treasurer, as receiver. Stockholders through their attorneys enlisted assistance of all members of Idaho's delegation in urging the compirole ler of the currency the order for the assessment of stock. holders.


Article from The Idaho Statesman, May 7, 1933

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Article Text

Price Increases Halt Assessment Upon Idaho Bank TWIN FALLS comptroller has postponed, perhaps indefinitely. an der calling payment next May 19 of 100 per cent on the stock the Security National bank Fairfield, Ida., which, it asserted, has been made solvent result of increasing price of wheat since the Fairfield bank receiver the assessment February. Word the comptroller's action, which is believed set new precedent. in Saturday United States Senator James P. Pope to Chapman and Chapman, Twin Falls, attorneys for the Fairfield stockholders. stockholders' purpose, the stated to over and liquidate the bank's affairs Stockholders of whom there are 78 are Camas prairie men and farmers. Many of them acquired bank stock in after the the about years ago. The bank only about 90 days after organization and then about months ago was placed in charge of Bracken, former assistant Idaho state treasurer, as Stockholders through their attorenlisted assistance of all members of Idaho's congressional delethe the the for the assessment of stockholders.