First National Bank - Broken Bow, OK

Episode Information

Episode UID: 1042401488
Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 104240 national
Charter Number: 10424
Start Date: December 3, 1923
Location: Broken Bow, Oklahoma (34.029, -94.739)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: abb7a01c4a51c175

Response Measures

None

Receivership Details

Depositor recovery rate: 24.1%
Date receivership started: 1926-11-02
Date receivership terminated: 1930-08-30
OCC cause of failure: Governance
Share of assets assessed as good: 25.3%
Share of assets assessed as doubtful: 72.4%
Share of assets assessed as worthless: 2.2%

Description

Article reports a suspension with hopes for early reopening; later known receivership (1926) is outside this episode.

Events (3)

1. July 17, 1913 Chartered

Source: historical_nic

2. December 3, 1923 Suspension

Cause: Local Banks
Cause Details: Heavy withdrawals and a threatened run following recent closures of neighboring First National banks in the county.
Newspaper Excerpt: The First National Bank of Broken Bow closed its doors Monday morning.
Source: newspapers

3. November 2, 1926 Receivership

Source: historical_nic

Newspaper Articles (1)

1. December 6, 1923 The McCurtain Democrat Idabel, OK

Article from The McCurtain Democrat, December 6, 1923

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Article Text

FIRST NATIONAL BANK OF BROKEN BOW CLOSES ITS DOORS. The First National Bank of Broken Bow closed its doors Monday morning. It is said that heavy withdrawals by depositors last week and a threatened run on the bank caused the suspension. The McCurtain County Bank of Broken Bow was prepared for any eventuality but a threatened run on that institution has thus far been averted and it is hoped there will be none. The officers of the bank say they are ready to pay all who want their money. This is the third bank in the county that has closed doors in the past two weeks. The first was the First National at Idabel which failed to open for business Saturday morning, November 17. On Monday morning November 19, The First National at Haworth failed to open and now comes the First National at Broken Bow. These were the three oldest and largest banks in their respective towns and the suspensions have caused a terrible slump in business. The three banks together have more than a million in deposits. We are informed that every effort is being made to reorganize the First National here and that prospects are good for an early opening of the bank.