First Island National Bank (Pendleton, OR)

View Charter #13576 on SPMC View balance sheet

Episode Information

Episode UID
1357601594
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
135760 national
Charter Number
13576
Start Date
October 18, 1932
Location
Pendleton, Oregon (45.672, -118.789)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4ed9a8d97591ccd2

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-02-01
Date receivership terminated
1940-09-20
Share of assets assessed as good
35.9%
Share of assets assessed as doubtful
38.1%
Share of assets assessed as worthless
26.0%

Description

Articles repeatedly name 'First Inland National bank' (likely OCR/typo vs provided name); linkage plausible but not certain.

Events (6)
1. October 19, 1931 Chartered
Source
historical_nic
2. October 18, 1932 Suspension
Cause
Government Action
Cause Details
Mayor George R. Lewis proclaimed a two-week financial holiday (local moratorium) suspending bank operations in Pendleton
Newspaper Excerpt
the First Inland National bank which suspended operation yesterday when a two-weeks' financial holiday was ordered by the mayor
Source
newspapers
3. October 19, 1932 Other
Newspaper Excerpt
Officers ... said the institution may again open for business providing depositors sign waivers on deposits. This action, if approved, will take about two weeks to complete.
Source
newspapers
4. March 2, 1933 Suspension
Cause
Government Action
Cause Details
Statewide three-day moratorium declared by the governor (March 2–4, 1933) affecting Oregon banks
Newspaper Excerpt
Governor Meier today issued a proclamation declaring a three day legal holiday in Oregon
Source
newspapers
5. February 1, 1934 Receivership
Source
historical_nic
6. February 3, 1934 Receivership
Newspaper Excerpt
the office of comptroller of the currency announced ... appointment of Charles Reynolds ... as receiver for the First Inland National bank of Pendleton, Ore.
Source
newspapers

Newspaper Articles (11)
1. October 19, 1932 Baker City Herald Baker City, OR

Article Text

LA GRANDE BANK FAILS TO OPEN Voluntary Liquidation Decided Upon; Depositors May Not Lose LA GRANDE, Or., Oct 19.—(AP)—The First National bank of La Grande did not open its doors for business today. It was announced that the bank, the only one in this city, was closed for voluntary liquidation. The bank, faced with shrinkage of deposits the last few months coupled with low prices of commodities that made collection of accounts impossible in some cases, felt that voluntary liquidation would best protect the interests of all concerned. The directors said they expected no one would lose any part of his deposits through liquidation. No further statement was expected until tomorrow. A representative of the comptroller of currency is en route to La Grande to take charge of the bank. The First National bank was organized March 7 of this year through consolidation of the assets of the La Grande National and the United States national banks. Officers are: N. K. West, president; F. L. Meyers, cashier; Herman Seigrist, vice president; and H. A. Zurbrick, assistant cashier. Directors are West, Meyers, Siegrit, W. C. Perkins, Lee B. Bouvy, Robert E. Eakin, Fred E. Kiddle, Clyde Bunting and William Siegrist. Capital stock was $125,000 with $25,000 surplus. On Oct. 6 the deposits were announced at $891,408.59. Pendleton May Open Doors PENDLETON, Or., Oct. 19.—(AP)—Officers of the First Inland National bank which suspended operation yesterday when a two-weeks' "financial holiday" was ordered by the mayor, said today the institution may again open for business providing depositors sign waivers on deposits. This action, if approved, will take about two weeks to complete. The bank holiday was declared by Mayor George R. Lewis as a step toward protecting the bank and farmers. The mayor said that if business continued as usual the bank would be obliged to call in loans with the result that farmers would have to sell their wheat at less than production cost. The bank's offices said today it is solvent. No Holidays Here As announced by the First National bank yesterday, there will be no bank holidays or other interruption of normal banking business in Baker. The local institution is in one of the strongest liquid positions in its history.

2. October 19, 1932 The Capital Journal Salem, OR

Article Text

PENDLETON BANK PLANS REOPENING Pendleton, Ore., Oct. 19 (AP)—Officers of the First Inland National bank which suspended operation yesterday when a two-weeks' "financial holiday" was ordered by the mayor, said today the institution may again open for business providing depositors sign waivers on deposits. This action, if approved, will take about two weeks to complete. The bank holiday was declared by Mayor George R. Lewis as a step toward protecting the bank and farmers. The mayor said that if business continued as usual the bank would be obliged to call in loans with the result that farmers would have to sell their wheat at less than production cost. The bank's officers said today it is solvent.

3. October 19, 1932 The Observer La Grande, OR

Article Text

12-Day Financial Holiday Adopted In Pendleton, Ore. PENDLETON, Ore., Oct. 19 (AP)—Officers of the First Inland National bank which suspended operation yesterday when a two-weeks' "financial holiday" was ordered by the mayor, said today the institution may again open for business providing depositors sign waivers on deposits. This action, if approved, will take about two weeks to complete. The bank holiday was declared by Mayor George R. Lewis as a step toward protecting the bank and farmers. The mayor said that if business continued as usual the bank would be obliged to call in loans with the result that farmers would have to sell their wheat at less than production cost. The bank's officers said today it is solvent. PENDLETON, Ore., Oct. 19 (AP)—A "financial holiday," designed to protect bankers and farmers, opened here Tuesday, to continue until Oct. 29, under order of Mayor George R. Lewis. In a formal proclamation Mayor Lewis designated the days between Oct. 18 and 29 inclusive as legal holidays in order to allow financial institutions here to meet maturing obligations, and to protect farmers who might be forced to sell wheat at prices below the cost of production. "I urge," the mayor said, "that the banks and other financial institutions having control of grain and other commodities, refrain from forcing or urging the sale of such commodities at the present low and ruinous prices, or enforcing collection of obligations secured by such commodities to the extent, if necessary, of closing their doors against withdrawal of deposits." Fears Collapse Selling below the cost of production at present prices, Mayor Lewis explained, "would cause a complete collapse of the financial structure of the region." "It has become impossible," he said, "for many individuals, banks and other institutions to meet their maturing obligations and unnecessary withdrawals of deposits without forcing the sale of immense amounts of grain and other commodities at ruinous prices and consequent financial disaster to the citizens of this city and of the country generally." "But," he continued, "if the withdrawals of money and bank deposits from circulation can be halted, and the citizens generally can be permitted to market their commodities in an orderly manner and without forced sale and sacrifice, the financial stability of the community can be assured." Colonel J. H. Raley, chairman of the board of directors of the First Inland National bank, and George Hartman, vice president of the institution, said the "financial holiday" was suggested to protect depositors. They added that the bank is solvent and that there will be no ultimate loss to depositors. The officials said that since the bank was reorganized a year ago by consolidation of the First National and Inland Empire banks, the institution has suffered withdrawals approximating $120,000 a month. The low price of wheat and other farm products, added to the circumstance that the Umatilla crop was only two-thirds of normal, caused the difficulties. The bankers said they acted to protect farmers against the forced sale of wheat at prices below production cost.

4. October 20, 1932 The Oregonian Portland, OR

Article Text

REOPENING OF BANK TALKED Depositors of Pendleton Institution May Sign Waivers. PENDLETON, Or., Oct. 19.-(AP)- Officers of the First Inland National bank, which suspended operation yesterday, when a two weeks' "financial holiday" was ordered by the mayor, said today the institution may again open for business, providing depositors sign waivers on deposits. This action, if approved, will take about two weeks to complete. The bank holiday was declared by Mayor George R. Lewis as a step toward protecting the bank and farmers. The mayor said that if business continued as usual the bank would be obliged to call in loans with the result that farmers would have to sell their wheat at less than production cost. Mine Stockholders Meet. The annual meeting of stockholders of the Amalgamated Mining company, developing mines near Mehama, Or., was held in the Postal building Monday night and officers for the coming year elected. Charles J. Longren, company president, presided. James P. Hewitt, mine superintend- week. Casaba and Christmas melons are being received but are meeting with a slow demand. Supplies of peaches are light. Some stock from cold storage is still being offered but demand is very slow.

5. October 20, 1932 The Idaho Statesman Boise, ID

Article Text

LA GRANDE'S BANK DECIDES TO CLOSE LA GRANDE, Ore., Oct. 19 (AP)—The First National bank of La Grande did not open for business Wednesday and its officers announced it had been closed for voluntary liquidation. It is the only bank in the city. Deposits amounted to about 900 thousand dollars. Officers said the bank, faced with shrinkage of deposits the last few months, coupled with low commodity prices that made collection of accounts impossible in some cases, felt voluntary liquidation would best protect the interests of the bank and its depositors. It was said depositors will stand no loss. TO REOPEN PENDLETON, Ore., Oct. 19 (AP)—Officers of the First Inland National bank, which suspended operation

6. October 20, 1932 Star-Herald Scottsbluff, NE

Article Text

Pendleton Bank Likely To Reopen in 2 Weeks Pendleton, Ore., Oct. 19. (AP)—Officers of the First Inland National bank which suspended operation yesterday when a two weeks "financial holiday" was ordered by the mayor, said today the institution may again open for business providing depositors sign waivers on deposits. This action, if approved, will take about two weeks to complete. The bank holiday was declared by

7. October 20, 1932 The Havre Daily News Havre, MT

Article Text

Transcript Of Evidence Made The transcript of the evidence offered in the proceedings relative to the removal of Mayor W. B. Rogers before the Havre city council, has been completed and turned over to the city by Paul J. Moody, court reporter. OFFICERS STUMPED BOVILL, Id., Oct. 20. (AP) — Ted Collins, buried several months ago by his family and friends, returned today to visit them. Townspeople silently stared when Collins strolled down the street. Collins explained that he had been on the coast and that the man buried could not have been him. Authorities are wondering who they buried. MAY REOPEN PENDLETON, Ore., Oct. 19. (AP)—Officers of the First Inland National bank, which suspended operation when the "two week financial holiday" was ordered by the Pendleton mayor, said the institution may reopen providing the depositors sign waivers on deposits. EMPLOYMENT GAINS TOLEDO, Ohio, Oct. 19. (AP)—Employment has been almost doubled here since the last week in August when payrolls showed 7,000 workers. NOT SO POOR BREMERTON, Wash., Oct. 19. (AP)—The worldly possessions of Seymour Abrams, 80, Indian fighter of Montana and Wyoming who died as a charity patient in the naval hospital here, were found to be at least double $15,000 in cash which was found sewed in his clothing, and maybe much more. arrival of the copy of the state ballot from Helena. Applications for absent voter ballots are being received at any time now and voters can secure the application form and file it now. The application must be sworn to before a notary. The polling places and judges will be the same as at the primary election. UNEMPLOYED STRIKE CHICAGO, Oct. 19. (AP)— A crowd of several hundred unemployed receiving aid from the Illinois Relief commission went on "strike" tonight because their rations had been cut and refused to accept any aid. No violence was attempted or threatened.

8. October 20, 1932 Livingston Enterprise Livingston, MT

Article Text

ITEMS OF NEWS GIVEN IN BRIEF SAN FRANCISCO, Oct. 19.—(AP)—Asserting that about a million animals are slaughtered on the highways of the United States yearly by careless or destructive motorists, Frank B. Rutherford, of Philadelphia, asked the American Humane society to advocate legal protection for these creatures. SPOKANE, Oct. 19—(AP)—Accidentally shot as he approached a group of game hunters to examine their licenses, W. H. Minnick, deputy game warden, died an hour later. W. R. Austin, of Spokane, whose shotgun discharged as he shifted the gun to his left hand and reached for his license, was not held, the coroner holding that the shooting was accidental. WALLA WALLA, Oct. 19.—(AP)—Chief of Police E. B. Vogel, 48, was instantly killed and several firemen were seriously injured when a police patrol car collided with a fire truck. Both of the vehicles were traveling at a high speed and were demolished. CHICAGO, Oct. 19.—(AP)—There was an upward flurry of wheat prices on the board of trade today when unconfirmed rumor was circulated among traders that Henry Ford was to announce a plan tonight to buy seventy-five million bushels of wheat for sale in China. After the market closed, a representative of Ford said that there was "no basis whatsoever for such a report." PENDLETON, Ore., Oct. 19.—(AP)—Officers of the First Inland National bank, which suspended operations last Tuesday, when a two-week "financial holiday" was ordered by the mayor, said today that the institution may reopen, providing the depositors sign waivers on their deposits. TOLEDO, Ohio, Oct. 19.—(AP)—Employment has almost doubled here since the last week in August, when payrolls showed seven thousand workers. WILMINGTON, Del., Oct. 19.—(AP)—Lammot Du Pont, president of E. I. Du Pont Nemours & Co., chairman of the board of directors of the General Motors company, announced tonight that he intends to vote the republican ticket. PITTSBURGH, Oct. 19—(AP)—George Gibson, manager of the Pittsburgh baseball club, tonight signed a contract to continue his job next year.

9. March 2, 1933 Corvallis Gazette-Times Corvallis, OR

Article Text

CORVALLIS BANKS OPEN TOMORROW Only Emergency Business and Accommodation of Public on Restricted Basis MORATORIUM TODAY Governor Calls a State-Wide Holiday, Due to California Closing At ten minutes to 10 o'clock this morning the banks of Corvallis were notified that the governor had declared a three-day moratorium for all the banks in the state. The news came as a bolt from a clear sky and when we were informed that the order was mandatory, we submitted to the will of constituted authority. The banks of Portland were closed, but since then they have opened up for the transaction of emergency business only and other banks throughout the state will doubtless follow their lead. Under these conditions the banks of Corvallis will open their doors tomorrow morning for the transaction of emergency business and the accommodation of the public on a restricted basis. First National Bank of Corvallis Benton County State Bank PORTLAND, Mar. 2 — (AP) — Statewide three day bank holiday ordered today by Governor Meier was met generally throughout Oregon with a decision by bankers to remain open for the transaction of what was described as "necessary business." Only in a few cities of the state did banks remain closed. The First National of La Grande which has been closed for more than four months, reopened today and officers said the bank would not observe the holiday. California banks also were operating under the holiday proclamation. Large downtown Portland banks did not observe the banking holiday called by Governor Meier today and shortly after the regular opening hour they said they would pay on checking and saving accounts up to a "reasonable" amount, to enable depositors to purchase necessities. Although signs announcing the banking holiday were posted on the doors of all Portland banks before regular opening hours, these signs later were taken down by the larger institutions which announced they would remain open and transact "necessary business." Postmaster Jones announced the proclamation would in no way interfere with the operation of the Postal Savings bank which continued to transact business in the regular way. SALEM, Mar. 2—(AP)—The three Salem banks were to open at 11:15 this morning to transact "necessary business," they announced following word that Portland banks were taking similar action. SALEM, Mar. 2—(UP)—Governor Meier today issued a proclamation declaring a three day legal holiday in Oregon, starting today and continuing through Saturday, such action will allow the closing of all Oregon banks for three days. "It is the only step to take to protect banks here because many of them clear through California banks and the California banks are closed," he said. "Financial distress prevailing in neighboring states is making its effects felt in Oregon," Governor Meier said in his statement. "It is essential for the protection of all depositors that bank withdrawals be suspended for a brief period to permit enactment of necessary regulatory acts stabilizing legislation, in line with federal enactments and legislation enacted in other states." The governor said he understood Arizona banks to be in strong financial condition. "We have had no advices any Arizona banks are in distress, but today's action is merely a safeguard," he said. General Holiday The governor's proclamation, declaring a legal holiday for all banks, financial institutions, county and city offices, courts and schools, was made today because it was (Continued on page 8)

10. February 3, 1934 Spokane Chronicle Spokane, WA

Article Text

RECEIVER AT BANK WASHINGTON, Feb. 3. (AP)—The office of comptroller of the currency announced today the appointment of Charles Reynolds, Silverton, Ore., as receiver for the First Inland National bank of Pendleton, Ore. GOTHAM BELOW ZERO. NEW YORK, Feb. 3. (AP)—New York city experienced its second severe cold snap of the winter today when the thermometer dropped to four above zero, a new record low for February 3.

11. February 5, 1934 Spokane Chronicle Spokane, WA

Article Text

RECEIVER AT BANK WASHINGTON, Feb. 3. (AP)—The office of comptroller of the currency announced today the appointment of Charles Reynolds, Silverton, Ore., as receiver for the First Inland National bank of Pendleton, Ore.