American Bank & Trust Company (Ardmore, OK)

Episode Information

Episode Type
Suspension → Closure
Start Date
December 17, 1935
Location
Ardmore, Oklahoma (34.174, -97.144)
Bank Type
state
Routing Number
86-0056

Metadata

Episode ID
Bank ID
City ID
401089691
Model
gpt-5-mini
Short Digest

Notes

Bank was described as placed on a moratorium and later listed as a defunct institution receiving dividend payments.

Events (2)
1. December 17, 1935 Receivership
Newspaper Excerpt
American Bank and Trust company, Ardmore, fifth dividend of 15 per cent, payable December 21 ... making a total paid to date 77 1/2 per cent.
Source
newspapers
2. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Placed on moratorium (suspension) amid investigation and alleged removal of bank records and possible malfeasance by former officials.
Newspaper Excerpt
the largest state bank placed on a moratorium basis
Source
newspapers

Newspaper Articles (4)
1. April 13, 1935 The Tulsa Tribune Tulsa, OK

Article Text

Barnett Faces Bank Charges Says Former Official Is Hiding Information ARDMORE, Ok., April 13—(AP)—Charges were filed by Carter county officials here today against W. J. Barnett of Shawnee, former Oklahoma bank commissioner and his brother, N. S. Barnett, alleging the Barnetts removed records from the American Bank and Trust Co. here "to conceal information." M. C. Trimble, state bank examiner under Howard Johnson, present commissioner, signed the complaint. W. W. Potter, Carter county attorney filed the charge before Ulis S. Barnett, justice of the peace but not a relative of the accused men. Warrants were obtained for the arrest of the two Barnetts. A special house of representatives investigating committee in Oklahoma City recently compelled an investigation into the administration of the former commissioner. It was unable to obtain service upon W. J. Barnett who was wanted as a witness. N. S. Barnett was in charge of the $2,000,000 American Bank and Trust Co., the largest state bank placed on a "moratorium" basis, during the two year's administration of W. J. Barnett as commissioner under former Governor William H. Murray. The complaint alleged the Barnetts removed the records from the bank March 6, the date N. S. Barnett was relieved of his office by Commissioner Johnson. The present commissioner began an investigation of the Barnett administration soon after he took office. Removal or destruction of remittance records to the Tradesmens National bank and the First National bank of Oklahoma City from the local institution, of the individual ledger sheets of the N. S. Barnett special account and the W. J. Barnett special account and the removal or destruction of numerous deposit slips of funds handled during 1934 are charged in the complaint.

2. April 13, 1935 The Tulsa Tribune Tulsa, OK

Article Text

ARDMORE, Ok., April 13—(AP)—Charges were filed by Carter county officials here today against W. J. Barnett of Shawnee, former Oklahoma bank commissioner and his brother, N. S. Barnett, alleging the Barnetts removed records from the American Bank and Trust Co. here "to conceal information." M. C. Trimble, state bank examiner under Howard Johnson, present commissioner, signed the complaint. W. W. Potter, Carter county attorney filed the charge before Ulis S. Barnett, justice of the peace but not a relative of the accused men. Warrants were obtained for the arrest of the two Barnetts. A special house of representatives investigating committee in Oklahoma City recently compelled an investigation into the administration of the former commissioner. It was unable to obtain service upon W. J. Barnett who was wanted as a witness. N. S. Barnett was in charge of the $2,000,000 American Bank and Trust Co., the largest state bank placed on a "moratorium" basis, during the two year's administration of W. J. Barnett as commissioner under former Governor William H. Murray. The complaint alleged the Barnetts removed the records from the bank March 6, the date N. S. Barnett was relieved of his office by Commissioner Johnson. The present commissioner began an investigation of the Barnett administration soon after he took office. Removal or destruction of remittance records to the Tradesmens National bank and the First National bank of Oklahoma City from the local institution, of the individual ledger sheets of the N. S. Barnett special account and the W. J. Barnett special account and the removal or destruction of numerous deposit slips of funds handled during 1934 are charged in the complaint.

3. December 17, 1935 Tulsa World Tulsa, OK

Article Text

Depositors Get Christmas Gift Of Bank Funds Six Defunct Oklahoma Institutions Announced Payment of Dividends By the Associated Press. DEPOSITORS in six closed banks had a cheerful Christmas outlook Monday, with the state banking department authorizing dividend payments. The following dividends were authorized: American Bank and Trust company, Ardmore, fifth dividend of 15 per cent, payable December 21, amounting to $82,415, making a total paid to date 77 1/2 per cent. Citizens State bank of Lamont, fifth dividend of 10 per cent, amounting to $11,088, payable December 20, through the Security bank of Blackwell; total to date, 75 per cent. Garfield County bank of Enid, fifth dividend of 3 per cent, amounting to $12,622, payable December 21; total to date, 28 per cent. First State bank of Davidson, third dividend of 10 per cent, amounting to $6,873, payable December 21; total to date, 65 per cent. Citizens State bank of Altus, eighth dividend of 5 per cent, amounting to $6,247, payable today. Faxon State bank, second dividend of 50 per cent, amounting to $6,349, payable today; total to date, 75 per cent.

4. December 17, 1935 Tulsa World Tulsa, OK

Article Text

American Bank and Trust company, Ardmore, fifth dividend of 15 per cent, payable December 21, amounting to $82,415, making a total paid to date 77 1/2 per cent. Citizens State bank of Lamont, fifth dividend of 10 per cent, amounting to $11,088, payable December 20, through the Security bank of Blackwell; total to date, 75 per cent. Garfield County bank of Enid, fifth dividend of 3 per cent, amounting to $12,622, payable December 21; total to date, 28 per cent. First State bank of Davidson, third dividend of 10 per cent, amounting to $6,873, payable December 21; total to date, 65 per cent. Citizens State bank of Altus, eighth dividend of 5 per cent, amounting to $6,247, payable today. Faxon State bank, second dividend of 50 per cent, amounting to $6,349, payable today; total to date, 75 per cent.