3996. Bannock National Bank (Pocatello, ID)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6347
Charter Number
6347
Start Date
May 13, 1921
Location
Pocatello, Idaho (42.871, -112.446)

Metadata

Model
gpt-5-mini
Short Digest
f25fbd05

Response Measures

None

Receivership Details

Depositor recovery rate
17.5%
Date receivership started
1921-06-11
Date receivership terminated
1933-04-24
OCC cause of failure
Economic conditions
Share of assets assessed as good
39.4%
Share of assets assessed as doubtful
42.7%
Share of assets assessed as worthless
17.9%

Description

The bank suspended business on May 13, 1921 (news reports give May 13/May 'last Friday' closure). Reports attribute the suspension to inability to realize loans/assets quickly enough (overloaded with loans). A federal bank examiner was placed in charge, then a receiver (R. L. Curtis) took charge in June 1921. Subsequent receivership, indictments and suits against directors indicate permanent closure and receivership rather than reopening.

Events (8)

1. July 22, 1902 Chartered
Source
historical_nic
2. May 13, 1921 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank unable to realize quickly on assets; overloaded with loans it could not realize immediately, forcing temporary closure which became suspension.
Newspaper Excerpt
the Bannock National bank of Pocatello ... suspended business on May 13, 1921
Source
newspapers
3. May 20, 1921 Other
Newspaper Excerpt
POCATELLO BANK CLOSED. Last Friday morning the Bannock National Bank at Pocatello was closed, temporarily at least, on account of the bank's inability to realize fast enough on its assets to meet its liabilities. H. L. Macken, supervising national bank examiner, is now in charge. L. D. Franklin is cashier of the suspended bank,... According to the bank's latest statement, its resources are greatly in excess of its liabilities, but having overloaded itself with loans on which it could not realize immediately, it was forced to close.
Source
newspapers
4. June 11, 1921 Receivership
Source
historical_nic
5. June 23, 1921 Receivership
Newspaper Excerpt
R. L. Curtis, receiver for the federal treasury department, took advice charge of the Bannock National bank Thursday, replacing H. L. Machen, federal bank examiner ... who has been in charge of the bank for five weeks. Curtis ... is authorized to investigate the conditions of the bank here and make a statement to the creditors.
Source
newspapers
6. April 5, 1922 Other
Newspaper Excerpt
Five new indictments have been returned on account of the failure of the Bannock National bank. Misapplication of funds and false entries were alleged against the officials of the defunct bank.
Source
newspapers
7. August 8, 1922 Other
Newspaper Excerpt
The receiver of the Bannock National Bank, of Pocatello, Idaho, today brought suit against the directors of the bank, alleging that through gross mismanagement of the Board the bank had been subjected to a loss of more than three million dollars.
Source
newspapers
8. January 4, 1929 Other
Newspaper Excerpt
Final Decree Favoring Bank Receiver Filed ... decision in favor of the receiver was handed down by Judge Farrington October 29, holding the directors the bank responsible for losses sustained when the bank closed its doors May 13: 1921.
Source
newspapers

Newspaper Articles (15)

Article from The Bingham County News, May 20, 1921

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Article Text

POCATELLO BANK CLOSED. Last Friday morning the Bannock National Bank at Pocatello was closed, temporarily at least, on account of the bank's inability to realize fast enough on its assets to meet its liabilities. H. L. Macken, supervising national bank examiner, is now in charge. L. D. Franklin is cashier of the suspended bank, while S. L. Reece, E. C. White and D. W. Church are the directors. According to the bank's latest statement, its resources are greatly in excess of its liabilities, but having overloaded itself with loans on which it could not realize immediately, it was forced to close.


Article from The Idaho Republican, June 23, 1921

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Article Text

RECEIVER TAKES CHARGE POCATELLO, Idaho.-R. L. Curtis, receiver for the federal treasury department, took advice charge of the Bannock National bank Thursday, replacing H. L. Machen, federal bank examiner for the twelfth federal reserve district, who has been in charge of the bank for five weeks. Curtis at one time had charge of the Fairfield bank, which failed last fall. He is authorized to investigate the conditions of the bank here and make a statement to the creditors.


Article from The Challis Messenger, April 5, 1922

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Article Text

# NEW INDICTMENTS Pocatello.-Five new indictments have been returned on account of the failure of the Bannock National bank. Misapplication of funds and false entries were alleged against the officials of the defunct bank. Pocatello. - William Damrill was found guilty on two counts of an indictment by a grand jury, charged with inducing and transporting a girl from Idaho Falls to Reno, Nev., and was sentenced to three years on each count, sentences to run concurrently.


Article from The Cordova Daily Times, August 8, 1922

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Article Text

THREE MILLION BANK LOSS CHARGED MISMANAGEMENT BOISE, Ida., Aug. 8.-The receiver of the Bannock National Bank, of Pocatello, Idaho, today brought suit against the directors of the bank, alleging that through gross mismanagement of the Board the bank had been subjected to a loss of more than three million dollers.


Article from The Nenana News, August 8, 1922

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Article Text

BANK DIRECTORS SUED BOISE, Aug. 8-The receivers of the Bannock National bank of Pocatello have started suit against the directors of the institution in an effort to recover more than three million dollars on the grounds of mismanagement.


Article from The Seattle Star, August 8, 1922

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Article Text

BOISE, Idaho.—Suit for $3,000,000 filed against directors of Bannock National bank of Pocotello by R. T. Curtis, receiver of the bank.


Article from The Alaska Daily Empire, August 8, 1922

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Article Text

Bank Directors Sued For Mismanagement BOISE, Ida., Aug. 8. Receivers of the Bannock National Bank, of Pocatollo, have filed suit against the directors for more than $3,000,000, alleging mismanagement.


Article from The Nome Nugget, August 12, 1922

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Article Text

WEDNESDAY (TELEGRAPHIC) RECEIVER SUES BANK DIRECTORS Boise Aug. 9-Receiver Curtis has filed a suit to recover three million dollars from directors of the defunct Bannock National Bank of The receiver charged Pocotello. that S. L. Reece. president of the bank. had knowledge that the bank was defunct.


Article from The Filer Record, August 17, 1922

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tence or imprisonment ginally passed upon them, Dong Sing and Lo Ming, convicted Chinese murderers, have been committed to the state prison by District Judge Givens for the murder of Bok Sing, rival tongman. March 31, 1917. The Chinese will begin immediately serving their sentences. Boise.-Alleging gross mismanagement on the part of the directors of the Bannock National bank of Pocatello, which suspended business on May 13, 1921, R. L. Curtis, as receiver of the bank. has filed suit in the United States district court seeking to recover from the directors more than $3,000,000 in liabilities. New Meadows.-Pine forests over a large area surrounding New Meadows are being ravaged by the "pine butterfly," the caterpillar of which eats the needles of the tree, F. S. Baker, in charge of public relations for the Fourth district of the United States forest service announces. From New Meadows the pest has spread as far as warren and Council, and now cov. ers roughly & circle extending 50 miles in all directions from New Meadows. Boise.-During July Boise police arrested 250 persons. Four autos were reported stolen. Boise.-July saw the extermination of one gray wolf, 94 coyotes and two bobcats, according to the monthly report of Luther J. Goldman, predatory animal inspector for Idaho. Nampa.-A compressor weighing eight tons is being installed in a local fruit factory. Weiser.-Five Weiser girls, Alice, Margaret, Gertrude and Helen Neeley and Muriel Klotz, camped in the Weiser national forest, came to the ranger's relief when five fires broke out in his domain almost simultaneously and the nearest male assist. ance was seven miles distant. Nampa.-Twenty car loads of potatoes have been shipped this season. Harvesting is being rushed. Idaho Falls.-Miss Ethel Nichols, living on a ranch 10 miles east of town, committed suicide by taking a dose of potassium cyanide. Coeur d'Alene.-Fumes from a picric acid explosive used by Fred Beneke and Nels Johnson in blasting a well on the Beneke ranch, 14 miles north of here, caused the death of the two men and the asphyxiation of Fred Cisco ,a neighbor, who attempted to rescue them. Boise.-Frank Eldridge, for three years a guard at the state penitentiary is in a critical condition at St. A1phonsus hospital as a result of an alleged murderous assault made on him by McKinley Tipton, a prisoner serving from one to fourteen years for grand larceny committed in Twin Falls. Pocatello.-The American Legion post of this city is planning upon the erection in the near future of a suitable soldier memorial, plans suggested being for a log building upon a site in one of the city parks. The building would be constructed so that it would be suitable for community meetings of all kinds. Hajley.-S. B. Locke, assistant havIng charge of the fish and game interests of the district forest office, with headquarters at Ogden, arrived here a few days ago and left for the Sawtooth region, to confer with the state game warden for the continuance of the fish stocking program initiated last year. Hailey-An abstract of the assessment roll in Blaine county for 1922 shows a total valuation of $4,456,935, as compared with $4,487,214 for the previous year. Among the principal Items of valuation are irrigated land, $1,962,703: grazing land, $681,642; dry land. $176,389; improvements on mines. $104,450; improvements in outside cities, business and residence lots, $752,100: merchandise, $149,660, and common cattle, $79,060. Pocatello.-J. A. Camphell, Short Line operator of the McCammon station. received a telegram from Sulphur Springs. Mo., notifying him of the death of his wife, son. Sam, 9 years of age and daughter, Mary, 7 years of age, the serious injury of another daughter 3 years of age, and that a baby 6 months of age, was not expected to live, as a result of a


Article from The Filer Record, August 17, 1922

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Article Text

Boise.-Alleging gross mismanagement on the part of the directors of the Bannock National bank of Pocatello, which suspended business on May 13, 1921, R. L. Curtis, as receiver of the bank. has filed suit in the United States district court seeking to recover from the directors more than $3,000,000 in liabilities.


Article from Shoshone Journal, August 18, 1922

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Article Text

Boise.-Alleging gross mismanagement on the part of the directors of the Bannock National bank of Pocatello, which suspended business on May 13, 1921, R. L. Curtis, as receiver of the bank, has filed suit in the United States district court ,seeking to recover from the directors more than $3,000,000 in liabilities.


Article from The Challis Messenger, August 23, 1922

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Pithy News Notes From All Parts of IDAHO Idaho Falls.-At the meeting here, held in the interests of the eastern dairy experts, who included Idaho Falls in their tour of the state, the unanimous opinion of the visitors as expressed by them was that Idaho is an ideal state for the dairy industry. According to them the high freight rates are detrimental to profit in shipping raw materials out of this state, but the finished products, such as butter and cheese and hogs, could be marketed at considerable gain. It also came to light during the meeting that eastern dairymen are paying as high as $30 a ton for hay on the Atlantic seaboard, and are realizing a profit of that high price, which tended to prove that the grower could easily realize a fortune by feeding his own dairy herds. Pocatelle-Don Maynard, one of the most noted "rum runners" along the Canadian border, is a federal prisoner in the Latah county jail facing a long term on a conviction of liquor violations, and he says that when he has served this term he is "through" as there is "nothing in it but grief." Maynard has been one of the most successful operators along the Cana. dian border, and time after time has crossed the line into Idaho, Montana and Washington with big shipments of liquor, either by auto or by the medium of checked baggage. Pocatello.-According to word reaching this city, the Salt River-Wyoming Development company, an eastern or. ganization with a capital stock of $6,000,000, has secured control of 130,000 acres of land in oil leases in eastern Bonneville, Teton and Cari. bou counties, Idaho, and in Wyoming across the line. Weiser.-Grashoppers have destroyed portions of the second crop of alfalfa in Washington county according to the summary of weather and crop conditions issued by Delbert M. Little, observer of the Boise weather office. Pocatello.-Charles W. Lee died as the result of a fractured skull received in a motorcycle accident. There were three other occupants of the motorcycle and sidecar at the time of the accident, but none of them was injured. Moscow.-At Priest river the fires have consumed practically all the United States forest experimental station holdings and a part of the timber sold by the state to the Diamond Match company two years ago. The greatest holdings of the state in one body are located on the east side of Priest lake, a section which has been untouched by the flames SO far. Sections where the flames are sweeping over large areas are: Calder creek on the St. Joe river; Emerald creek on the St. Maries river; Eagle creek, a branch of Marble creek: Flat creek on the St. Maries and on Upper Marble creek on the St. Joe river. Boise.-Investigation of proposed dam sites for irrigation reservoirs in central and eastern Idaho will be made by W. G. Swendsen, state commissioner of reclamation. Boise.-Use of inexpensive materials close at hand in teaching art in rural districts has been demonstrated by Miss Blanche Cahoon to her class of 90 teachers at the Boise summer normal school. Boise.-Nearly five years after sentence of life imprisonment was originally passed upon them, Dong Sing and Lo Ming, convicted Chinese murderers. have been committed to the state prison by District Judge Givens for the murder of Bok Sing, rival tong. man, March 31, 1917. The Chinese will begin immediately serving their sentences. Boise.-Alleging gross mismanagement on the part of the directors of the Bannock National bank of Pocatello, which suspended business on May 13, 1921, R. L. Curtis, as receiver of the bank, has filed suit in the United States district court seeking to recover from the directors more than $3,000,000 in liabilities. New Meadows.-Pine forests over a farge area surrounding New Meadows are being ravaged by the "pine butterfly," the caterpillar of which eats the needles of the tree, F. S. Baker, in charge of public relations for the Fourth district of the United States forest service announces. From New Meadows the pest has spread as far as Warren and Council, and now cov. roughly circle 50 miles


Article from The Idaho Recorder, August 25, 1922

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Boise.-Alleging gross mismanage ment on the part of the directors of the Bannock National bank of Potal tello, which suspended business on May 13, 1921, R. L. Curtis, as receiver of the bank, has filed suit in the United States district court seeking to recover from the directors more than $3,000,000 in liabilities.


Article from The Challis Messenger, October 4, 1922

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Pithy News Notes From All Parts of IDAHO Idaho Falls.-At the meeting here, held in the interests of the eastern dairy experts, who included Idaho Falls in their tour of the state, the unanimous opinion of the visitors as expressed by them was that Idaho is an ideal state for the dairy industry. According to them the high freight rates are detrimental to profit in shipping raw materials out of this state. but the finished products, such as butter and cheese and hogs, could be marketed at considerable gain. It also came to light during the meeting that eastern dairymen are paying as high as $30 a ton for hay on the Atlantic seaboard, and are realizing a profit of that high price, which tended to prove that the grower could easily realize a fortune by feeding his own dairy herds. Pocatelle.-Don Maynard, one of the most noted "rum runners" along the Canadian border, is a federal prisoner in the Latah county jail facing a long term on a conviction of liquor violations, and he says that when he has served this term he is "through" as there is "nothing in it but grief." Maynard has been one of the most successful operators along the Canadian border, and time after time has crossed the line into Idaho, Montana and Washington with big shipments of liquor, either by auto or by the medium of checked baggage. Pocatello.-According to word reaching this city, the Salt River-Wyoming Development company, an eastern organization with a capital stock of $6,000,000, has secured control of 130,000 acres of land in oil leases in eastern Bonneville, Teton and Caribou counties, Idaho, and in Wyoming across the line. Weiser.--Grashoppers have destroyed portions of the second crop of alfalfa in Washington county according to the summary of weather and crop conditions issued by Delbert M. Little, observer of the Boise wea. ther office. Pocatello.-Charles W. Lee died as the result of a fractured skull received in a motorcycle accident. There were three other occupants of the motorcycle and sidecar at the time of the accident, but none of them was injured. Moscow.-At Priest river the fires have consumed practically all the United States forest experimental station holdings and a part of the timber sold by the state to the Diamond Match company two years ago. The greatest holdings of the state in one body are located on the east side of Priest lake, a section which has been untouched by the flames so far. Sections where the flames are sweeping over large areas are: Calder creek on the St. Joe river; Emerald creek on the St. Maries river; Eagle creek, a branch of Marble creek; Flat creek on the St. Maries and on Upper Marble creek on the St. Joe river. Boise.-Investigation of proposed dam sites for irrigation reservoirs in central and eastern Idaho will be made by W. G. Swendsen, state commissioner of reelamation. Boise.-Use of inexpensive materials close at hand in teaching art in rural districts has been demonstrated by Miss Blanche Cahoon to her class of 90 teachers at the Boise summer normal school. Boise.-Nearly five years after sentence of life imprisonment was originally passed upon them, Dong Sing and Lo Ming, convicted Chinese murderers, have been committed to the state prison by District Judge Givens for the murder of Bok Sing, rival tongman, March 31, 1917. The Chinese will begin immediately serving their sentences. Boise.-Alleging gross mismanagement on the part of the directors of the Bannock National bank of Pocatello. which suspended business on May 13, 1921, R. L. Curtis, as receiver of the bank, has filed suit in the United States district court seeking to recover from the directors more than $3,000,000 in liabilities. New Meadows.-Pine forests over a targe area surrounding New Meadows are being ravaged by the "pine butterfly," the caterpillar of which eats the needles of the tree, F. S. Baker, in charge of public relations for the Fourth district of the United States forest service announces. From New Meadows the pest has spread as far Warren and Council, and now cov. ers as roughly a circle extending 50 miles in all difections from New Meadows.


Article from The Salt Lake Tribune, January 4, 1929

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Final Decree Favoring Bank Receiver Filed Special to The Tribune. POCATELLO, dewas signed by Federal Judge Farrington of Nevada and recorded Wednesday in the of O. Thomas, receiver the Bannock National bank of Pocatello. complainants, L. Reece, Xavier Servel, Pearce, Lila Franklin, Clarence E. Franklin, the estate of Nathan G. Franklin, deceased. decision in favor of the receiver was handed down by Judge Farrington October 29, holding the directors the bank responsible for losses sustained when the bank closed its doors May 13: 1921. Judge Farrington heard the case here in federal court over two years ago and his decision was withheld until last October. The case created attention, as many local people were financially involved.