Northern Bank & Trust Company

Episode Information

Episode UID: 82003771487
Episode Type: Run → Suspension → Closure
Bank Type: trust
Bank ID: 8200377 routing
Routing Number: 82-0037
Start Date: November 30, 1923
Location: Greeley, Colorado (40.423, -104.709)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: a81d81aca6783085

Response Measures

None

Description

Bonding companies' action precipitated withdrawals; state commissioner took bank in charge.

Events (2)

1. November 30, 1923 Receivership

Newspaper Excerpt: The Northern Bank and Trust company of Greeley, Colo., was taken in charge by State Bank Commissioner Grant McFerson, through his deputy, M. M. Ewing, recently.—Inability of the bank to pay heavy clearings... is said to have been the cause of the closing.','cause:government_action,cause_details:Taken in charge by State Bank Commissioner after inability to meet clearings and withdrawals.}]}
Source: newspapers

2. November 30, 1923 Run

Cause: Bank Specific Adverse Info
Cause Details: Bonding companies asked to be relieved and have bond cancelled, prompting immediate withdrawal of $5,000 in state funds; inability to meet heavy clearings (~$17,000) and frozen farm loans.
Measures: Directors stated the bank would pay depositors dollar for dollar.
Newspaper Excerpt: GREELEY, COLO., BANK CLOSED AFTER RUN
Source: newspapers

Newspaper Articles (1)

1. November 30, 1923 The Dalton Delegate Dalton, NE

Article from The Dalton Delegate, November 30, 1923

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Article Text

GREELEY, COLO., BANK CLOSED AFTER RUN The Northern Bank and Trust company of Greeley, Colo., was taken in charge by State Bank Commissioner Grant McFerson, through his deputy, M. M. Ewing, recently. Inability of the bank to pay heavy clearings amounting to about $17,000, is said to have been the cause of the closing. Bonding companies which protected state deposits of $5,000 in the bank have asked to be relieved and to have the bond cancelled, and this caused an immediate and unexpected withdrawal of $5,000 in state funds. The bank had $102,000 in deposits at the time of closing. Its statements show $50,000 capital and $15,000 surplus. For the last two years it has suffered frozen loans to farmers and stockmen. Last year a 100 per cent assessment was levied on all stockholders, in order to keep the capital unimpaired. The Northern bank has been in business five years and one month. During its first two years of existence it enjoyed a healthy growth and is said to have earned sufficient dividends to cause the stock to rapidly appreciate in value. Directors of the bank stated that the bank would pay depositors dollar for dollar. At the present time the bank commissioner is protecting depositors in all state institutions which are closed by filing liens against the real estate holdings of all stockholders.