Security National Bank (Clinton, OK)

View Charter #12050 on SPMC View balance sheet

Episode Information

Episode UID
1205001599
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
120500 national
Charter Number
12050
Start Date
March 1, 1933*
Location
Clinton, Oklahoma

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2ebeddc0d68020f2

Response Measures

None

Receivership Details

Depositor recovery rate
72.8%
Date receivership started
1934-06-28
Date receivership terminated
1937-10-14
Share of assets assessed as good
57.5%
Share of assets assessed as doubtful
39.9%
Share of assets assessed as worthless
2.6%

Description

Articles state the bank has been under a conservator since March (previous year) and was later placed in receivership in June 1934; exact suspension date is not explicitly given.

Events (4)
1. November 19, 1921 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Bank was placed under a conservator beginning in March (likely during the March 1933 bank holiday period), leading to suspension of normal operations.
Newspaper Excerpt
has been under the direction of conservator since March last year.
Source
newspapers
3. June 28, 1934 Receivership
Source
historical_nic
4. June 28, 1934 Receivership
Newspaper Excerpt
Receiver for the closed Security National Bank has been appointed ... receiver now in charge of Security National Bank ... George Wilson took charge of the bank as receiver.
Source
newspapers

Newspaper Articles (6)
1. March 2, 1933 Las Vegas Daily Optic East Las Vegas, NM

Article Text

SEVENTEEN STATES CHECK RUNS ON BANK Seven More Join Movement to Restrict Withdrawals of Deposited Moneys THREE AND FOUR DAYS TO BE TEMPORARY HOLIDAYS Situation Easing in Some States as Legislatures Planned Curb Laws Mississippi, Arizona, Nevada and in Oregon today joined the states. which there are limitations placed on the withdrawals of deposits from banks. in which limitations on withdrawals now exist. The proclamation of Gov. Ralph at San Francisco makes mandatory the closing of California banks (or three-day period ending Saturday The three-day holiday called Gov. Murray in Oklahoma for same period also is mandatory. The of Gov. Allen of Louisiana provides for the sation until the end of the week "all public business including Banks and other public enterprises." Mississippi the decree of state banking called only (Continued On Page Two)

2. March 2, 1933 The Hobart Democrat-Chief Hobart, OK

Article Text

Lone Wolf Open But Just 'Changing'; Others Closed CITY. Mar. Extension of Oklahoma's bank day until Wednesday was recommended today by Bank Commiss sioner J. Barnett as the state government placed legislative and executive protection over the 453 Oklahoma banks and their depositors. The first flurry of excitement over, following Gov. W. H. Murray's three-day bank moratorium proclamation, state officials pared new stabilizing bill. Assurance of safety both banks and depositors was the keynote of the situation in Oklahoma. The unusual spectacle of such great confidennce is local banks that the institutions remained open today in the face of heavy demands occasioned by the state wide holiday was enacted at Idabel, Durant, Enid, Valliant and Alva. Bankers in these communities declared their situations so sound they saw no need of inconveniencing depositors. The redrafted bill authorizing the bank commissioner to banks under a plan of restricwithdrawals was being drawn up. The senate was prepared to suspend all other and send bill through its first stage. Preparing for immediate action, Speaker Tom Anglin called the house into session this morning without waiting for the scheduled m. meeting time. The bank holiday was declared, Murray explained, to give the islature time to enact lieve the proposed bill the bank commissioner sweeping power delay payment of deposits all banks, trust companies, savings banks and segregate deposits from old deposits, with no restriction on the new deposits. The bank virtual dictator over financial stitutions with emergency author needed rules and ity to adopt any daily reports. require SIXTEEN STATES HOLIDAYS TODAY BANK to restrict with. The movement of bank deposits spread drawals rapidly through the south and west last night and today states operated under decrees for bank holidays. CaliforMississippi, Oklahoma, nia, Arizona, Nevada and Oregon ordered brief bank holidays to give time for legislatures to draw withdrawals legislation limiting deposits. Louisiana went farther by orderholiday for all iness. The New Orleans cotton cotton market change, largest was closed. the country, Executives announcing the new holidays for forcing the other states restructions by placing tension of banks which unusual strain on an to continue business sought mally. ONE BANK IN ONLY STAYS OPEN COUNTY The First National bank at Lone Wolf was the only banking tution in Kiowa county which mained open today, and was just "making change," according made by the Demosurvey Banks here, at Mountain Cooperton, Mountain View and Snyder were all closed, was the one at Rocky. OREGON TOO Ore., Mar. Governor Meier today declared three-day legal holiday state Oregon starting continuing through

3. June 7, 1934 The Clinton Times-Tribune Clinton, OK

Article Text

RECEIVER FOR SECU RITY NATION AL BANK NAMED Receiver for the closed Se curity National Bank has been appointed. according to word Thursday from Senator T. P Gore, in Washington Name of the man to be sent here to liquidate the bank has not been released from the of fice of the comptroller of the currency. in the capital city, Several weeks ago the Clinton Morning Times that a receiver would be appointed. Date of his arrival here has not been announced.

4. June 11, 1934 Clinton Daily News Clinton, OK

Article Text

BANK CONFIRMATION DUE THIS Action By Congress Expected Before Saturday With adjournment of congress set for Saturday, confirmation the appointment of George Oklahoma City, receiver for closed Security National bank here expected this week. Recommendation of Wilson for the appointment, made by Senator Gore Senator Elmer Thomas, was announced Saturday night. No word that the appointment had been confirmed been ceived today, but was expected perhaps tomorrow Post Sought By Jordan After confirmation by congress, Mr. Wilson expected to here and take charge the institution, which has been under the direction of conservator since March last year. When proposals for the reorganization the bank failed to meet approval, Joe Jordan, conservator, recommended that liquidation undertaken order to free the stitution's frozen assets. At the time he informed federal banking officials he not candidate for appointment receiver. The recommendation for liquidation was made about days was understood that the two senators were in disagreement in the appointment of receiver, but reached an understanding urday night. To Per Cent There were considerable speculation here to how much positors will receive of the nearly $400,000 that was deposited in the bank. It was estimated that the bank between 50 and pay per cent. The receiver will likely proceed with liquidation as rapidly possible, and first dividend may declared soon after his here. was reported the bank than $40,000 in cash now payment to depositors when dation started.

5. June 24, 1934 Clinton Daily News Clinton, OK

Article Text

No Word Received About Receiver Yet When George Wilson will take charge of the Security National bank as receiver was still unknown Saturday to officials of the institution. "We have not heard a word. said bank officials. Mr. Wilson, of Oklahoma City, was named two weeks ago to the post, but his appointment has not been confirmed as far as is known here.

6. June 29, 1934 Clinton Daily News Clinton, OK

Article Text

RECEIVER NOW CHARGE OF SECURITY Is Up First Payment To Washington, He Explains George Oklahoma took charge of the Security today bank receiver of the National He was authorized to assume rection the in telegrams from federal officials His commission Washington today receiver will arrive by mail Jordan, who has been Joe conservator since serving closed March of to Jórdan vacation to Chicago for trip Mr. Wilson going OVCI records of the bank today Records To Be Checked Just how soon the payment of the bank the 900 depositiors known. Mr will be made said. He explained that Wilson to check bank will necessary liquidation take numerous other blems first Federal officials Washington will when the first payment say Mr. Wilson made to despositors, pointed he he declared he will make effort to speed up the payment. that the bank has approximately in and that Mr. Wilson rency now, hopeful obtaining early permission from Washington to this for the first payment to positors. Family Here and Wilson and their Mr. Mrs. two daughters arrived here yesterand are making their residence day 1002 Choctaw avenue. Mr. Wilson came to this state 31 and is well known. He ago, formerly resided Mangum. been an adjustor for an insurconcern for number of years, and that business came here three in and stayed month to years adjustments claims as of hall