State National Bank - Shawnee, OK

Episode Information

Episode UID: 641601494
Episode Type: Run Only
Bank Type: national
Bank ID: 64160 national
Charter Number: 6416
Start Date: June 13, 1924
Location: Shawnee, Oklahoma (35.327, -96.925)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 33ed9103fc54d6fb

Response Measures

Accommodated withdrawals

Receivership Details

Depositor recovery rate: 88.2%
Date receivership started: 1934-04-09
Date receivership terminated: 1940-10-04
Share of assets assessed as good: 39.6%
Share of assets assessed as doubtful: 59.4%
Share of assets assessed as worthless: 1.0%

Events (3)

1. September 11, 1902 Chartered

Source: historical_nic

2. June 13, 1924 Run

Cause: Rumor Or Misinformation
Cause Details: Organized anonymous telephone calls deliberately warning depositors that a run was in progress; described as malicious and unfounded
Random Run: Yes
Random Run Snippet: telephone calls warned a run was in progress; described as malicious and unfounded
Measures: Paid out large sums (more than $20,000) to customers; public reassurances in editorial and urging depositors to verify at bank
Newspaper Excerpt: A well organized attack on the State National Bank was launched yesterday through the medium of the telephone, calls ... the statement being made in each case that a run was in progress
Source: newspapers

3. April 9, 1934 Receivership

Source: historical_nic

Newspaper Articles (1)

1. June 14, 1924 Shawnee News-Star Shawnee, OK

Article from Shawnee News-Star, June 14, 1924

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Article Text

ORGANIZED EFFORT TO START BANK RUN (Editorial) A well organized attack on the State National Bank was launched yesterday through the medium of the telephone, calls from various parts of the city being made to individuals and others having accounts, the statement being made in each case that a run was in progress and that this was plainly to be seen. In no case did the person giving the warning give any name but promptly hung up after spreading the poison. The fact of the matter is that a large amount of money was paid out by the State National Bank yesterday. It was pay-day at the Rock Island and scores of men were in line at a time getting their checks cashed as is usual twice each month. More than $20,000 was paid out in this way. In a few cases persons anonymously warned drew out their accounts. Another crowd was attracted to the bank by the fact that the county treasurer is making his headquarters there and is engaged in receiving payment of taxes for the second half of the year from Shawnee taxpayers. All this fitted in well with the plans of the organized force bent on forcing a run on this particular bank. Last week the word was passed out at Oklahoma City and other points that one of the other banks was about to close. That this would be renewed if the destruction of the State National could be brought about there is no question. The fact is that persistent efforts of this sort would in time eliminate every bank in Shawnee. This seems to be the purpose in view. The State National Bank is sound. It is under the personal management of men of known integrity. It has done a safe banking business all along and when any depositor calls for his money today or any other time he will get it. This is no time for hysterics but it is a time when propagandists who spread rumors should be dealt with in a definite manner. If anyone tries to talk to you about any bank over the telephone or individually get his name and make sure that he has something upon which to base his statements. If you are a depositor go to the bank yourself and get your information first handed. Persons who have innocently aided in spreading the story are warned that it is a criminal offense to give circulation to unfounded rumors as to the soundness of any national bank. This is no time to permit a campaign of ruination to go on unheeded. It is malicious in its conception and without foundation. Do your part today to stop it.