Chase County National Bank - Cottonwood Falls, KS

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 2764
Charter Number: 2764
Start Date: February 6, 1928
Location: Cottonwood Falls, Kansas (38.372, -96.543)

Metadata

Model: gpt-5-mini
Short Digest: 9b14790b

Response Measures

Books examined

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1928-02-06
Date receivership terminated: 1929-06-30
OCC cause of failure: Governance
Share of assets assessed as good: 34.9%
Share of assets assessed as doubtful: 34.0%
Share of assets assessed as worthless: 31.1%

Description

Articles report heavy withdrawals over several weeks leading the bank to close and a receiver to be appointed in Feb 1928; subsequent articles describe receiver liquidating assets and assessing stockholders — bank remained defunct.

Events (7)

1. August 9, 1882 Chartered

Source: historical_nic

2. February 6, 1928 Receivership

Source: historical_nic

3. February 6, 1928 Run

Cause Details: Progressive heavy withdrawals by depositors over several weeks depleted resources; no specific triggering rumor or correspondent failure described.
Newspaper Excerpt: closed its doors Monday morning, following heavy withdrawals by the depositors during the past several weeks
Source: newspapers

4. February 10, 1928 Receivership

Newspaper Excerpt: N. M. Dudley... has been appointed receiver for the Chase County National bank of this city, which closed its doors Monday morning. Mr. Dudley arrived here Wednesday and will be in charge of the bank. The examiners... are at work checking up ... There is a move on for the reorganization of the bank in the near future, but nothing definite has been announced.
Source: newspapers

5. February 10, 1928 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed after heavy withdrawals that depleted its resources; examiners sent and receiver appointed; effectively a suspension leading to receivership.
Newspaper Excerpt: N. M. Dudley... has been appointed receiver for the Chase County National bank of this city, which closed its doors Monday morning.
Source: newspapers

6. June 27, 1928 Other

Newspaper Excerpt: Stockholders of the defunct Chase County National bank here will make the last payment June 27 of the $100,000 assessment which was called for by the receiver to meet the bank's obligations. ... depositors will receive their first payment within the next 30 days. The payment is expected to be about 30 per cent.
Source: newspapers

7. August 16, 1928 Other

Newspaper Excerpt: N. M. Dudley, receiver for the defunct Chase County National bank, of this place has sold six farms, belonging to the bank since he took the receivership in February. This is all the real estate owned by the bank with the exception of town property.
Source: newspapers

Newspaper Articles (4)

1. February 10, 1928 The Emporia Gazette Emporia, KS

Article from The Emporia Gazette, February 10, 1928

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Article Text

APPOINT BANK RECEIVER N. M. Budley, of Moline. Has Charge of Closed Chase County Bank. Special The Gazette: Cottonwood Falls, Feb. 10.-N. M. Dudley. of Moline, has been appointed receiver for the Chase County National bank of this city, which closed its doors Monday morning. following heavy withdrawals by the depositors during the past several weeks, which so depleted the resources that the institution could DO longer do business. Mr. Dudley arrived here Wednesday and will be in charge of the bank The examiners. who were sent here from Kansas City Monday morning, J. A. Clark and his assistant, Mr. O'Brien, still are at work checking up and will probably not complete this work for another week. There is a move on for the reorganization of the bank in the near future. but nothing definite has been announced.

2. June 26, 1928 The Emporia Gazette Emporia, KS

Article from The Emporia Gazette, June 26, 1928

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Article Text

TO ASSESS STOCKHOLDERS Defunct Chase County Bank will Mak Payment to Depositors. Special The Gazette: Cottonwood Falls, June 25Stockholders of the defunct Chase County National bank here will make the last payment June 27 of the $1000,000 assessment which was called for by the receiver to meet the bank's obligations. The $100,000 assessment was called for in March but to make the payments easier on the stockholders the receiver allowed stockholders to pay 25 per cent each month. The bank's receiver during the past several months has disposed of considerable amount of real estate which the bank was holding and has collected on outstanding notes, and it is understood that depositors will receive their first payment within the next 30 days. The payment is expected to be about 30 per cent.

3. August 16, 1928 The Emporia Gazette Emporia, KS

Article from The Emporia Gazette, August 16, 1928

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Article Text

SELL BANK PROPERTY. Receiver Is Liquidating Assets. of Chase County Bank. Cottonwood Falls, Aug. 16.-N. M. Dudley, receiver for the defunct Chase County National bank, of this place has sold six farms, belonging to the bank since he took the receivership in February. This is all the real estate owned by the bank with the exception of town property. The last farm sold was disposed of this week to John Hancock, of Emporia, and was a 110-acre farm in the Chicago Mound vicinity of Lyon county. Four of the six farms were located in Chase county and two in Lyon county.

4. September 6, 1928 The Emporia Gazette Emporia, KS

Article from The Emporia Gazette, September 6, 1928

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Article Text

BANK RECEIVER QUITS JOB. Frank George Will Be Secretary to State Democratic Committee. Cottonwood Falls. Sept. 6.-Frank J. George, who has been stationed here since the first of the year as assistant receiver for the defunct Chase County national bank. has resigned and is leaving this week for Olivet. Mr. George. who was chairman of the Democratic central committee of Coffey county also was active at the party council and was elected secretary of the state Democratic committee. He will take up his new duties at once.