Copper State Bank (Bingham Canyon, UT)

Episode Information

Episode UID
97011071428
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
9701107 routing
Routing Number
97-0110
Start Date
December 9, 1918
Location
Bingham Canyon, Utah

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1ef85f15ba7005ed

Response Measures

None

Description

Articles refer to Copper State Bank of Copperfield/Bingham; closed by state examiner and receivership sought.

Events (2)
1. December 9, 1918 Suspension
Cause
Government Action
Cause Details
Closed by order of the state bank examiner/commissioner after examination found the bank insolvent
Newspaper Excerpt
both of which closed their doors at 9 o'clock Monday morning upon orders from the state bank commissioner
Source
newspapers
2. December 10, 1918 Receivership
Newspaper Excerpt
The state bank examiner and state attorney general ... had prepared a petition, asking that a receiver be appointed for both institutions.
Source
newspapers

Newspaper Articles (5)
1. December 10, 1918 El Paso Herald El Paso, TX
Article from El Paso Herald, December 10, 1918

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Article Text

BANK EXAMINER CLOSES TWO UTAH INSTITUTIONS Salt Lake City, Utah, Dec. 10.-The Citizens' State bank, of Bingham, and the Copper State bank, of Copperfield, both mining towns, about 30 miles south of here, were closed Monday by order of the state bank examiner. Both institutions were declared by the examiner to be insolvent. The state bank examiner and state attorney general, it was announced today. had prepared a petition, asking that a receiver be appointed for both institutions. The condition of the banks was found to be impaired during an examination several days ago, it was said today by the attorney general. Each bank has a capital of $20,000.

2. December 13, 1918 The Idaho Republican Blackfoot, ID
Article from The Idaho Republican, December 13, 1918

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Article Text

TWO UTAH BANKS ORDERED CLOSED ALLEGE UNLAWFUL PRACTICES; PETITION FOR RECEIVERSHIP FILED BY ATTY. GENERAL. Action Taken by State Bank Examiner Following Disclosures Concerning Unlawful Operations. Salt Lake City.Petitions for receivers for the Citizens State bank of Bingham and the Copper State bank of Copperfield, Utah, both of which closed their doors at 9 o'clock Monday morning upon orders from the state bank commissioner, will be filed this afternoon in the Third district court by Dan B. Shields, attorney general. Mr. Shields made this announcement at noon Monday. Rodney T. Badger of Salt Lake City is president of both banks. Examination of the affairs of the banks began last Tuesday. Saturday. the examination had proceeded far enough, according to officials, to show that the banks were insolvent, and in order to protect the public Aubrey Tolton, assistant bank commissioner, went to Bingham Sunday night, armed with an order authorizing him to take over the bank if necessary. Douglas Swan was sent to Copperfield to take charge of the Copper State bank there. Financial Report. o At the last bank examination the a Citizens State bank was ordered to e rectify certain matters, and later rep ported to the banking department that this had been done, it is reported. Ret cent examination by the state bank commissioner of affairs of the bank showed new loans which were not cone sidered as good as required, it is alleged. N I Examination of the Bingham bank a showed, it is stated. that, with a capital stock of $20,000 and surplus and undivided profits to make with capital W W $43,000, the impairment of the bank is n approximately $55,000. One director of 0 the bank is alleged to have been ra loaned more than $1000 more than the W bank's capital stock. in The Copper State bank had on ded posit with the Citizens State bank $35,W W 000, and its impairment is $17,000. officials state. h 01 Quits As Cashier. u Mr. Badger, president of the Bingth ham and Copperfield institutions, has te been vice president of the Utah State su National bank of this city. de C. W. Nibley, chairman of the board fo th of directors of the Utah State Nam tional bank, authorized the statement 'E today that Mr. Badger had tendered pc his resignation as vice president of sq the institution and that it had been m accepted. He further stated that the isl Salt Lake bank was in no way contr nected with the defunct Bingham and ta Copperfield banks. ca Mr. Badger has been with the bank I for eleven years. ay When asked to make a statement K regarding the banks at Bingham and hi es Copperfield Mr. Badger declineu to do so. th po It is said that representatives of the ca banking interests of the city have ofan fered their co-operation in re-opening ag the two banks so that the stockholders ta may not suffer to any extent. th

3. December 13, 1918 Montpelier Examiner Montpelier, ID
Article from Montpelier Examiner, December 13, 1918

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Article Text

TWO UTAH BANKS ORDERED CLOSED ALLEGE UNLAWFUL PRACTICES; PETITION FOR RECEIVERSHIP FILED BY ATTY. GENERAL. Action Taken by State Bank Examiner Following Disclosures Concerning' Unlawful Operations. Salt Lake City.Petitions for recelvers for the Citizens State bank of Bingham and the Copper State bank of Copperfield, Utah, both of which closed their doors at 9 o'clock Monday morning upon orders from the state bank commissioner, will be filed this afternoon in the Third district court by Dan B. Shields, attorney general. Mr. Shields made this announcement at noon Monday. Rodney T. Badger of Salt Lake City is president of both banks. Examination of the affairs of the banks began last Tuesday. Saturday, the examination had proceeded far enough, according to officials, to show that the banks were insolvent, and in order to protect the public Aubrey Tolton, assistant bank commissioner, went to Bingham Sunday night, armed with an order authorizing him to take over the bank if necessary. Douglas Swan was sent to Copperfield to take charge of the Copper State bank there. Financial Report. At the last bank examination the Citizens State bank was ordered to rectify certain matters, and later reported to the banking department that this had been done, it is reported. Recent examination by the state bank commissioner of affairs of the bank showed new loans which were not considered as good as required, it is alleged. Examination of the Bingham bank showed, it is stated. that, with a capital stock of $20,000 and surplus and undivided profits to make with capital $43,000, the impairment of the bank is approximately $55,000. One director of the bank is alleged to have been loaned more than $1000 more than the bank's capital stock. The Copper State bank had on deposit with the Citizens State bank $35,000, and its impairment is $17,000, officials state. Quits As Cashier. Mr. Badger, president of the Bingham and Copperfield institutions, has been vice president of the Utah State National bank of this city. C. W. Nibley, chairman of the board of directors of the Utah State National bank, authorized the statement today that Mr. Badger had tendered his resignation as vice president of the institution and that it had been accepted. He further stated that the Salt Lake bank was in no way connected with the defunct Bingham and Copperfield banks. Mr. Badger has been with the bank for eleven years. When asked to make a statement regarding the banks at Bingham and Copperfield Mr. Badger declineu to do so. It is said that representatives of the banking interests of the city have offered their co-operation in re-opening the two banks so that the stockholders may not suffer to any extent.

4. December 14, 1918 Yerington Times Yerington, NV
Article from Yerington Times, December 14, 1918

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Article Text

TWO UTAH BANKS ORDERED CLOSED ALLEGE UNLAWFUL PRACTICES; PETITION FOR RECEIVERSHIP FILED BY ATTY. GENERAL. Action Taken by State Bank Examiner Following Disclosures Concerning Unlawful Operations. Salt Lake City.Petitions for receivers for the Citizens State bank of Bingham and the Copper State bank of Copperfield, Utah, both of which closed their doors at 9 o'clock Monday morning upon orders from the state bank commissioner, will be filed this afternoon in the Third district court by Dan B. Shields, attorney general. Mr. Shields made this announcement at noon Monday. Rodney T. Badger of Salt Lake City is president of both banks. Examination of the affairs of the banks began last Tuesday. Saturday, the examination had proceeded far enough, according to officials, to show that the banks were insolvent, and in order to protect the public Aubrey Tolton, assistant bank commissioner, went to Bingham Sunday night, armed with an order authorizing him to take over the bank if necessary. Douglas Swan was sent to Copperfield to take charge of the Copper State bank there. Financial Report. At the last bank examination the Citizens State bank was ordered to rectify certain matters, and later reported to the banking department that this had been done, it is reported. Recent examination by the state bank commissioner of affairs of the bank showed new loans which were not considered as good as required, it is alleged. Examination of the Bingham bank showed, it is stated. that, with a capital stock of $20,000 and surplus and undivided profits to make with capital $43,000, the impairment of the bank is approximately $55,000. One director of the bank is alleged to have been loaned more than $1000 more than the bank's capital stock. The Copper State bank had on deposit with the Citizens State bank $35,000, and its impairment is $17,000, officials state. Quits As Cashier. Mr. Badger, president of the Bingham and Copperfield institutions, has been vice president of the Utah State National bank of this city. C. W. Nibley, chairman of the board of directors of the Utah State National bank, authorized the statement today that Mr. Badger had téndered his resignation as vice president of the institution and that it had been accepted. He further stated that the Salt Lake bank was in no way connected with the defunct Bingham and Copperfield banks. Mr. Badger has been with the bank for eleven years. When asked to make a statement regarding the banks at Bingham and Copperfield Mr. Badger declineu to do so. It is said that representatives of the banking interests of the city have offered their co-operation in re-opening the two banks so that the stockholders may not suffer to any extent.

5. December 14, 1918 Walker Lake Bulletin Hawthorne, NV
Article from Walker Lake Bulletin, December 14, 1918

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Article Text

TWO UTAH BANKS ORDERED CLOSED ALLEGE UNLAWFUL PRACTICES; PETITION FOR RECEIVERSHIP FILED BY ATTY. GENERAL. Action Taken by State Bank Examiner Following Disclosures Concerning Unlawful Operations. Salt Lake City.Petitions for receivers for the Citizens State bank of Bingham and the Copper State bank of Copperfield, Utah, both of which closed their doors at 9 o'clock Monday morning upon orders from the state bank commissioner, will be filed this afternoon in the Third district court by Dan B. Shields, attorney general. Mr. Shields made this announcement at noon Monday. Rodney T. Badger of Salt Lake City is president of both banks. Examination of the affairs of the banks began last Tuesday. Saturday, the examination had proceeded far enough, according to officials, to show that the banks were insolvent, and in order to protect the public Aubrey Tolton, assistant bank commissioner, went to Bingham Sunday night, armed with an order authorizing him to take over the bank if necessary. Douglas Swan was sent to Copperfield to take charge of the Copper State bank there. Financial Report. At the last bank examination the Citizens State bank was ordered to rectify certain matters, and later reported to the banking department that this had been done, it is reported. Recent examination by the state bank commissioner of affairs of the bank showed new loans which were not considered as good as required, it is alleged. Examination of the Bingham bank showed, it is stated. that, with a capital stock of $20,000 and surplus and undivided profits to make with capital $43,000, the impairment of the bank is approximately $55,000. One director of the bank is alleged to have been loaned more than $1000 more than the bank's capital stock. The Copper State bank had on deposit with the Citizens State bank $35,000, and its impairment is $17,000, officials state. Quits As Cashier. Mr. Badger, president of the Bingham and Copperfield institutions, has been vice president of the Utah State National bank of this city. C. W. Nibley, chairman of the board of directors of the Utah State National bank, authorized the statement today that Mr. Badger had tendered his resignation as vice president of the institution and that it had been accepted. He further stated that the Salt Lake bank was in no way connected with the defunct Bingham and Copperfield banks. Mr. Badger has been with the bank for eleven years. When asked to make a statement regarding the banks at Bingham and Copperfield Mr. Badger declineu to do so. It is said that representatives of the banking interests of the city have offered their co-operation in re-opening the two banks so that the stockholders may not suffer to any extent.