First National Bank - Lovington, NM

Episode Information

Episode UID: 1102901485
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 110290 national
Charter Number: 11029
Start Date: September 9, 1923
Location: Lovington, New Mexico (32.944, -103.349)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: fdf8954a5bf96585

Response Measures

None

Receivership Details

Depositor recovery rate: 19.2%
Date receivership started: 1923-10-08
Date receivership terminated: 1927-08-25
OCC cause of failure: Economic conditions
Share of assets assessed as good: 36.8%
Share of assets assessed as doubtful: 37.2%
Share of assets assessed as worthless: 26.0%

Description

Used government-record receivership date (1923-10-08) for closure event.

Events (4)

1. June 30, 1917 Chartered

Source: historical_nic

2. September 9, 1923 Suspension

Cause Details: Article states the bank closed its doors without giving reasons; examiner en route.
Newspaper Excerpt: The First National bank of Lovington closed its doors this week. No details are known here as to the reasons for closing, and the affairs of the bank will not be definitely known until after the arrival of the national bank examiner
Source: newspapers

3. October 8, 1923 Receivership

Source: historical_nic

4. October 8, 1923 Receivership

Source: newspapers

Newspaper Articles (1)

1. September 10, 1923 Albuquerque Journal Albuquerque, NM

Article from Albuquerque Journal, September 10, 1923

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Article Text

CITY BEAUTIFIERS TO OPEN SESSION TODAY Kansas City, Sept. 9.—Persons interesting in making American cities more beautiful will assemble in Kansas City September 11 for a five day session of the American institute of park executives. The program includes discussion of problems which confront members of the organization, as well as inspection of the park and boulevard systems here, in Kansas City, Kas., and in St. Joseph, Mo. Among the subjects are the national and state parks, the comprehensive park system and its relation to the general city plan, parks and regional planning, zoning, forest reservations and city forestry in connection with the park system. Delegates are expected to number approximately 275. President Theodore Wirth, who also is superintendent of parks in Minneapolis, Minn., will preside. LOVINGTON BANK SUSPENDED Roswell, N. M., Sept. 9.—The First National bank of Lovington closed its doors this week. No details are known here as to the reasons for closing, and the affairs of the bank will not be definitely known until after the arrival of the national bank examiner, the latter part of this week. This leaves Lea county without a bank. John D. Graham was president of the bank just closed and W. E. Nutt was cashier. FARMERS PROUD OF CROP Roswell, N. M., Sept. 9.—The Glencoe community, in Lincoln county, will have a booth at the Chaves County Cotton carnival to be held here October 4, 5 and 6 some of the finest fruit known to New Mexico is raised in this valley, and this year's crops were unusually abundant. Glencoe farmers will have apples, peaches, plums and various other fruits on exhibit here and are expected to take a number of the first prizes.