First National Bank - Preston, ID

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 7526
Charter Number: 7526
Start Date: January 26, 1931
Location: Preston, Idaho (42.096, -111.877)

Metadata

Model: gpt-5-mini
Short Digest: 97072051

Response Measures

Capital injected

Description

Article headline and text report a run on the Preston bank that was 'forestalled by merger' (consolidation with another First Security/First National entity). No suspension or closure is reported; the bank continued as part of the merged institution. OCR errors in the article made some phrases garbled; corrected interpretation: merger/consolidation prevented the run from causing failure.

Events (3)

1. December 27, 1904 Chartered

Source: historical_nic

2. January 26, 1931 Run

Cause Details: Article does not specify a clear trigger for the withdrawals; merger/consolidation was arranged to stop the run.
Measures: Merger/consolidation with First Security Bank (consolidation of resources and transfer of depositors) to stop the run.
Newspaper Excerpt: Run on Preston Bank Forestalled by Merger
Source: newspapers

3. March 7, 1931 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. January 26, 1931 Deseret News Salt Lake City, UT

Article from Deseret News, January 26, 1931

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Article Text

Run on Preston Bank Forestalled by Merger LOGAN. Jan. The First Se. and the First National Bank Preston merged day. The bank be known the First Security Bank Pres. with over The consolidation was possiby the of the Cache Valley the First Broth First bank Preston First poration the wing the of First Security of the directors Logan followed: The meeting lasted Sat on hand to pay officers of the new W Larsen, and Shumway was president of the old First Nabank All of the First National be transferred will all depositors as This consolidation gives It the First Sewhich banks Wyoming and Ida. ho with combined resources of $52, 000,000.