First State Bank

Episode Information

Episode Type: Run → Suspension → Unsure
Start Date: October 15, 1931
Location: Jet, Oklahoma (36.666, -98.181)
Bank Type: state
Routing Number: 86-0622
Alt. names: Bank of Jet

Metadata

Episode ID
Bank ID
City ID: 401094222

Model: gpt-5-mini
Short Digest

Notes

Article describes reorganization and intent to reopen but reopening is not confirmed.

Events (2)

1. October 15, 1931 Run

Cause: Rumor Or Misinformation
Cause Details: Wild rumors prompted heavy withdrawals from depositors.
Measures: Stockholders placed first-class collateral and signed agreements; community leaders pledged support.
Newspaper Excerpt: Wild Rumors Cause Withdrawal of Deposits Bank In Good Financial Condition.
Source: newspapers

2. October 16, 1931 Suspension

Cause: Government Action
Cause Details: State Bank Commissioner took charge after the bank failed to open; reorganization under commissioner underway.
Newspaper Excerpt: State Bank Commissioner Takes Charge Friday Morning FIRST STATE FAILS TO OPEN
Source: newspapers

Newspaper Articles (1)

1. October 15, 1931 The Jet Visitor Jet, OK

Article Text

FIRST STATE FAILS TO OPEN

State Bank Commissioner Takes Charge Friday Morning

RE-ORGANIZATION BEING MADE TO RE-OPEN

Wild Rumors Cause Withdrawal of Deposits Bank In Good Financial Condition.

Facing heavy withdrawals a year. partment. community, yet everyone is bravely facing the music and throwing his loyal support behind the officers of the bank and it is believed only a question of a few days before the bank is again open for business. The stockholders have placed first-class collateral in the hands of the bank commissioner for the double assessment on their stock, and as we go to a waiver upon their deposit for in the bank. And this we know time. At a meeting held yesterday, of the business men of the town everyone showed their confidence in Messrs. Powell and Tucker by voluntarily signing the new agreement, and following this farmers came in by the scores and placed their names on the list. It is hoped that by the end of the week to have the signature of every debanking facilities.