First National Bank (Steele, ND)

View Charter #8997 on SPMC View balance sheet

Episode Information

Episode UID
899701523
Episode Type
Run → Suspension → Unsure
Bank Type
national
Bank ID
89970 national
Charter Number
8997
Start Date
November 23, 1926
Location
Steele, North Dakota (46.855, -99.916)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
46a0e154355f1060

Response Measures

Public signal of financial health, Full suspension

Receivership Details

Date receivership started
1926-11-23
OCC cause of failure
Economic conditions

Description

Article reports board-ordered closing to forestall a run; no follow-up article here on reopening or permanent closure.

Events (6)
1. January 22, 1908 Chartered
Source
historical_nic
2. November 23, 1926 Receivership
Source
historical_nic
3. November 23, 1926 Run
Cause Details
Excessive withdrawals from depositors (incipient run) prompted action; no specific rumor or outside bank failure cited.
Measures
Board closed the bank to protect depositors from a possible run.
Newspaper Excerpt
The First National bank ... was closed by the board of directors because of excessive withdrawal of deposits Friday.
Source
newspapers
4. November 23, 1926 Suspension
Cause Details
Board-ordered closure/suspension of payments to protect depositors amid heavy withdrawals.
Newspaper Excerpt
The First National bank ... was closed by the board of directors because of excessive withdrawal of deposits Friday.
Source
newspapers
5. August 17, 1927 Restored To Solvency
Source
historical_nic
6. December 28, 1932 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. November 23, 1926 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, November 23, 1926

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Article Text

STEELE BANK CLOSES Steele, N. D., Nov. 23.-The First National bank, the only one here, was closed by the board of directors because of "excessive withdrawal of deposits" Friday. The officials explained that the bank is in good on hand and that the closing of the bank was a step to protect depositors from a possible run. There is no great excitement here, depositors having full confidence in the institution's management.

2. December 23, 1929 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 23, 1929

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Article Text

FRANK D. JONES, 68, DIES AT TELEPHONE Former Steele Banker Victim of Heart Attack After Overexertion Death struck down Frank D. Jones. 68, a resident of Steele, as he stood at the telephone at 4:30 Saturday afternoon, trying to call a garage about his car. Apparently it was a heart attack by which he was stricken. Unable to start his car. after considerable exertion, he went to the telephone. The receiver dangled as he slumped to the floor. Funeral arrangements are for services at the Steele Presbyterian church, Thursday afternoon, with interment in the Steele cemetery. Mr. Jones was a native of Elmira, New York who came to the Steele community in 1882 and homesteaded. Later he was one the staff of the Kildeer County State bank, which closed and subsequently was reorganized as the First National bank of Steele. At that time he entered the insurance business, in which he was engaged at the time of death. He was a member of the Steele Knights of Pythias lodge. Mr. Jones leaves a widow, three daughters and one son. The daughters are Mrs. Allen Taylor, Steele; Mrs. Orrin Baertsch, New England; Mrs. Ray Michels, Long Beach, Calif.; and the son is Dwight Jones, of Devils Lake.