6155. Salina State Bank (Salina, KS)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
November 23, 1920
Location
Salina, Kansas (38.840, -97.611)

Metadata

Model
gpt-5-mini
Short Digest
a250f6587d0c266e

Response Measures

None

Description

Articles (1920 and 1922) refer to the Salina State Bank as defunct with a receiver (Col. Fred Fitzpatrick) handling affairs and disputes over guaranty fund certificates. No article describes a depositor run; the bank was closed and in receivership and had not resumed operations by 1922.

Events (2)

1. November 23, 1920 Receivership
Newspaper Excerpt
Col. Fred Fitzpatrick, receiver for the Salina bank, may be called to the witness stand late this afternoon.; Affairs of the bank have not been disposed of and no certificates against the guaranty fund have been issued to depositors (1922).
Source
newspapers
2. November 23, 1920 Suspension
Cause
Government Action
Cause Details
Bank had been closed and a receiver (Col. Fred Fitzpatrick) was appointed; state action closing/handling the bank's affairs.
Newspaper Excerpt
Col. Fred Fitzpatrick, receiver for the Salina bank, may be called to the witness stand late this afternoon.
Source
newspapers

Newspaper Articles (2)

Article from The Topeka State Journal, November 23, 1920

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Article Text

ORDERLY DAY OUSTER CASE Nothing Damaging Erought Out Against Wilson Today. Lengthy correspondence in the Salina bank case was introduced today in support of the state's ouster suit against Walter E. Wilson, state bank commissioner. The letters dealt almost entirely with work of examiners, the bank commissioner and persons in touch with the bank's affairs. They generally indicated much activity on the part of Commissioner Wilson and his assistants in collecting on the bank's securities and in closing up the affairs of the defunct Kansas State bank. None of the testimony before J. M. Challis, commissioner for the supreme court, was regarded as especially damaging to Wilson. The entire morning was spent in the reading of letters and copies of letters. It was a quiet, orderly half-day session. Attorneys from the attorney general's office seemed satisfied with their progress. Attorneys for Wilson made no protest against admittance of the testimony. Failure of Attorney General Hopkins to produce damaging testimony against Wilson when Frank Sponable testified at the opening of the hearing was regarded by attendants as the most important feature of the case to date. Sponable was expected to testify that coercion was used in the sale of Bank Holding Corporation stock and that promises of use of confidential state information were made to prospective investors. There was nothing in Sponable's testimony to support such charges. Col. Fred Fitzpatrick, receiver for the Salina bank, may be called to the witness stand late this afternoon.


Article from The Topeka State Journal, December 11, 1922

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Article Text

FIRST FILED, FIRST PAID Attorney General Makes Ruling on Guaranty Fund Settlements. Depositors in defunct Kansas state banks protected by the state bank guaranty law, will 1. paid in accordance with the date of certificates issuca by the bank commissioner. That is the position taken by the attorney general's department in ruling on the issuance of certificates against the guaranty fund. Date of a bank failure, the state department holds, does not control the priority claim of a depositor. If the affairs of a bank are not closed promptly, depositors in the bank must wait until the receivership is concluded and are not protected by prior claims because of an early failure. The question arose in the dispute over rights of Kansas state bank depositors of Salina, Affairs of the bank have not been disposed of and no certificates against the guaranty fund have been issued to depositors. On the other hand creditors of the Homewood and LeLoup banks which subsequently failed, are being paid because their receiverships are terminated.