Farmers National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11537
Charter Number: 11537
Start Date: March 22, 1924
Location: Parsons, Kansas (37.340, -95.261)

Metadata

Model: gpt-5-mini
Short Digest: 76485397

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1924-03-24
Date receivership terminated: 1926-04-30
OCC cause of failure: Run
Share of assets assessed as good: 58.8%
Share of assets assessed as doubtful: 21.1%
Share of assets assessed as worthless: 20.2%

Description

The Farmers National Bank of Parsons closed March 22, 1924 and was placed in receivership under John H. Dykes. There is no mention of a depositor run in the articles; the bank was liquidated by the receiver and paid depositors 106% (plus 6% interest). Final administrative actions (dividend checks, receiver closing offices) occur through 1925–1926. Cause of the suspension/closure is not specified in the articles, so classified as 'other.'

Events (6)

1. December 5, 1919 Chartered

Source: historical_nic

2. March 22, 1924 Suspension

Cause Details: Articles state the bank 'closed its doors' and became defunct; no specific cause (insolvency reason) is given.
Newspaper Excerpt: The Bank closed its doors March 22nd.
Source: newspapers

3. March 24, 1924 Receivership

Source: historical_nic

4. December 29, 1925 Receivership

Newspaper Excerpt: The ten percent dividend checks for the depositors of the defunct Farmers National Bank have arrived and are being distributed it was announced last night by John H. Dykes, receiver. The checks were scheduled to arrive before Christmas but ... Each depositor must submit his certificate at the bank office on Broadway. Mr Dykes said, Dividend Checks Here.
Source: newspapers

5. February 15, 1926 Receivership

Newspaper Excerpt: John receiver of the Farmers National Bank announced that the checks have gone ward Washington for signature account of the fourth and final dividend the defunct institution representing six percent interest ... The Bank closed its doors March 22nd. and the paying off of all the creditors 106 cents on the dollar is best record made ... So far able to determine the record ever made by failed national bank ... Signed JOHN Receiver.
Source: newspapers

6. April 3, 1926 Receivership

Newspaper Excerpt: John H. Dykes, receiver of the Farmers National bank, closed the bank's offices today at o'clock. This terminates his services with the defunct institution paid off all depositors 106 per cent and he has sufficient cash on hand out of the remaining assets to pay back the Stockholders ... W. H. MacLaren has been elected agent for the shareholders to whom Mr. Dykes will turn over the remaining assets.
Source: newspapers

Newspaper Articles (4)

1. December 29, 1925 The Parsons Daily Sun Parsons, KS

Article from The Parsons Daily Sun, December 29, 1925

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Article Text

PAVEMENT PICK-UPS Sues Santa Fe. Mrs. Dora White of Iola has filed suit for $10,000 in Montgomery county district court against the Santa Fe railroad, alleging that the defendant is to blame for the death of her son. F. S. Atkins and This wife at crossing at the south edge of Wayside, in Montgomery. Oct. 16. The couple were enroute to Iola to be at the bedside of a sick relative when the accident happened. Insure with, Pay Taxes to OLIVE BAKER, Notary Exchange Bank Bldg., Ph 275 n13tf Alligator Is Frozen An alligator. dead and frozen stiff, was found in Onion creek vesterday morning by Bud Kauf man car the L. W. Kaufman farm three miles southwest of Coffeyville The rentile was taken to the Kaufman home and efforts made to revive it, but this was un- Are You Running On TIME? You'll always be on schedule If you let Newfield adjust your watch. 2130 Main. Phone 127. To Compete With Bus. John Schoenborn. Katy ticket agent. has received copy of res olution passed at the of the American Association Railroad Ticket Agents at St. Petersburg. Fa., urging that members USA their influence in assisting railroads to compete against mctor bus transportation Plummer Is Held John Plummer. colored. arrested Saturday night for being drunk and resisting an officer, is still be Ing held by the police department in connection with the attempt to enter the J. C. Penney store Saturday night. Take tamales home. 0. D. Dudley, Buckhorn Cafe, 209 S. Cen*ral. Phone 273. Revival Effort. The revival meeting being held in the First Church of The Brethren, 26th and Washington streets are progressing The weather conditions and season interests have militated against the best attendance. but each night a good. ly number are present to enjoy the devotional services and the Rev. W. T. Luckett announces the following subject for this week. "The Unanswered Question." "Flirting With The Devil." "What Will You Do With Jesus?' "Christian Freedom.' Another Chance To Make Good." "The Home." General Insurance F. E. Gehring. 1809 Broadway. Phone 409. To Hold Open House. Announcement has been made that the Faer club will hold open house New Year's Eve at the Y. W. A. All men and women are cardially invited A program is promised every hour, in charge of Miss Ruth Walton Refreshments will be served THE MAIN STREET CAFETERIA Serves Maxwell House Coffee, the best the market affords. No charge for second cup. 07tf. To Help In Revival. Rev and Mrs. C. D. Wheat of Joplin arrived in the city last night to assist with revival servIce being conducted at 2027 Main street by Rev. Heiskel Rev Wheat will have charge of the music each evening Make It A Habit. To go to the Commercial Barber shop, 106 N. Central, P. M. Johnson, proprietor. Phone 212. Fire Boys Make Ran. A trash fire on North Thirtieth street necessitated a run by the fire department yesterday afternoon No damage was done although the flames were threatening some buildings If your electric washer or sweeper needs repair Call 446. J1 Dividend Checks Here. The ten percent dividend checks for the depositors of the defunct Farmers National Bank have arrived and are being distributed it was announced last night by John H. Dykes, The checks were scheduled to arrive before Christmas but for some reason they were delayed. Each depositor must submit his certificate at the bank office on Broadway. Mr Dykes said New Mattresses Cheap Old mattresses renovated and recovered and home same day invited Feather beds made into sanitary mattresses Acme Mattress Factory, 202 N. Central, Phone 77. The Main Street Cafeteria will Laundry open January 4th at noon Adam Gross and F. H Frost proprietors F. H Frost. manager 431 Dry Wash Successful Try Havnes new DRY WASH. Satisfaction at low cost. 6c 1b. Call 144 and ask about It. 07 Miss Wells Returns Miss Ethel Wells has resumed her duties in the city water department after spending Christmas and the end with relalives and friends in Bartlesville.

2. February 15, 1926 The Parsons Daily Sun Parsons, KS

Article from The Parsons Daily Sun, February 15, 1926

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Article Text

FARMERS BANK WILL Stockholders' Agent To Be Elected John receiver of the Farmers National Bank announced that the checks have gone ward Washington for signature account of the fourth and final dividend the defunct institution representing six percent terest to the depositors on their money credtiors have been paid hundred cents on the dolone on all their claims. This interest will to payment total about takes about two weeks get the checks back from Washington the money not be available for depositors here until about March 1st. will be announced columns of the Sun when the checks arrive. Closed 1924. The Bank closed its doors March 22nd. and the paying off of all the creditors 106 cents the dollar is best record made the Tenth Federal Reserve "So far able to determine the record ever made by failed tional bank in Massachusetts which few ago percent on the dollar After all creditors out of solvent National Bank paid full interest and all litigation has terminated the eral statues "provide that the Comptroller of the shall meeting the Stockholders publication local paper for days, which time the stockholders meet and elect stockholder's agent whom the receiver turns over the remaining assets to be further lected the agent for the benefit the stockholders who have paid their assessment. Probable Agents. Only those stockholders who have paid their assessment vote for the stockholder's agent, majority being necessary for election. The agent after posting an surety affairs of the Trust under the supervision the United States District court. Rumors all ready current whom this agent will Parsons all ready mentioned are Olive Baker Carl Rice. Taylor, and Heretofore the Comptroller Currency has been very luctant allow receivers of tional Banks 40 give out any formation whatsoever the condition of This policy has just been reversed by the department Washington and all National Bank Receivers are instructed to post copy their Quarterly report the window the Bank and make the available the newspapers. The last Quarterly report for ending December 1925. and the statement of conditions Just Imade available by Receiver Dykes, of the Farmers National Bank follows: Assets Bills Receivable Cash on hand 7,289.06 Assets other than Bills Receivable and cash hand 58,859.07 Additional Assets acquired Stock Assessment Interest Collected 31,144.06 Total all Assets coming into the hands the Rec. Uncollected Assets. Bills Receivable Assets than bills Receivable Additional Assets Acquired Stock Assessment 4,850.00 Total Assets lected Liabilities Total claims proven on unsecured liabilities Total unproven unseclaims 597.19 Total secured liabiloutstanding unpaid Total Rediscounts paid None. Total payable paid None. Total Additional Liabilities Proven 9,750.57 of Liabilities Dividends paid during quarter Dividends paid prior thereto Total Dividends paid date Cash hand above statement is correct. Signed JOHN Receiver. WINS OPENER NEW Feb. Jean Borotra of France. ing champion. won his opening round match in the national door tennis courts the Seventh Regiment armory today. defeating Manfred Goldman of New He lost one game when temporarily control of service and served

3. April 3, 1926 The Parsons Daily Sun Parsons, KS

Article from The Parsons Daily Sun, April 3, 1926

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Article Text

THE DEFUNCT BANK John H. Dykes. receiver of the Farmers National bank, closed the bank's offices today at o'clock. This terminates his services with the defunct institution paid off all depositors 106 per cent and he has sufficient cash on hand out of the remaining assets to pay back the Stockholders about per share rebate the 100 per cent of levied by the comptrol ler of the currency Of this sessment Mr. Dykes collected about with which he able. with the collections from the assets, to pay the bank out in full. W. H. MacLaren has been elected agent for the shareholders to whom Mr. Dykes will turn over the remaining assets and Mr MacLaten will attempt further collections for the benefit of the stock holders. MacLaren intends to maintain regular office day Parsons least once week in some office at one of the hotels. his rangements meet debtors will be made later. Until recently the comptroller of the currency was reluetant to out or allow national bank receivers to out any information their trusts. This policy was reversed about two months ago and all receivers now instructed to post the window of the bank copy of their quarterly statement to the comptroller and make the same available to the newspapers, and Mr. Dykes's statement is given here. Statement of condition of the Farmers National Bank of Par(Continued on page eight)

4. January 27, 1927 The Collinsville News Collinsville, OK

Article from The Collinsville News, January 27, 1927

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Article Text

RECEIVER OPENS FIRST NATIONAL CONSOLIDATED WITH OTHER INSOLVENT BANKS DYKES IS IN CHARGE Liquidated Parsons, Kan., Bank 100 Per Cent Plus 6 Per Cent Interest There has been considerable quandary since the closing of the First National Bank concerning its re-opening The bank is now open under the direction of John H. Dykes, the receiver, who with his assistants consisting of J. H. Smith, L. E. Bredine, E. F. Bollinger and Miss Kathryn Klotzbach, will endeavor to liquidate the bank in speedy manner and make as little loss to the depositors as possible. Mr. Dykes is also ceiver for the Nowata National Bank, the First National Bank of Sapulpa, and the First National Bank of Barnsdall. He is national bank receiver by profession. This is the sixth insolvent national bank that he has liquidated, the first bank being the Farmers National bank at Parsons, Kansas, which he liquidated 100 per cent to the creditors plus 6 per cent interest on their money. Mr. Dykes will make his headquarters in Collinsville and handle all the banks from this point. The Comptroller of Currency in the interest of economy consolidates failed banks under one receiver as in this instance,, and the receiver is paid a flat salary per year to handle as many as he can. Mr. Dykes states that the creditors of the First National are fortunate in this respect as his salary is just the same now with four banks as it was with three before he was placto ed in charge of the local institution. All debtors are urged to call for an interview with Mr. Dykes at once. Those having property left in safekeeping should call for the same immediately as the receiver will not be responsible for it. All depositors may call at the bank and obtain their cancelled checks and statements and prove up their claims. Mr. Dykes appears to be very congenial person but under the condition it makes it necessary for him to be a bit "hard boiled" if the case necessitates. He has the power of both federal and state courts to enforce the collection of debts due the bank. He appears to want to be fair with those having notes with the bank and would like to have them call and Total make arrangements to take care of their paper at once. The News gets the impression that he expects to be fair with those who wish to be fair Deposits with the bank. pledge Collinsville is getting the reputation of having the coolest headed people possible. They have not beDeposits come excited about the losing of any of the industries and there was no great excitement apparent when the last calamity hit the town, although some of the business firms have been compelled to postpone payments to their wholesale houses on this ac849.10 count. However, that is the only thing they could do for any demonTotal strations of violence to any one would not get their money for them any sooner. ter is good as well as vocalist, having played saxaphone and bass in the local bands while merely boy. In fact he started in the boys band organized by the News editor the year the war took all the older band men into the service and boys were all that were left to make up a band. This band was very popular at the Confederate Veterans reunion held at Tulsa that year, and at which time Collinsville was well advertised by her bands. The News is surely glad to see these young musicians making good at their work It only proves that many of our young people at the present time are wasting opportunity by not taking up something useful in their spare time.