First National Bank - Sallisaw, OK

Episode Information

Episode UID: 757101478
Episode Type: Run Only
Bank Type: national
Bank ID: 75710 national
Charter Number: 7571
Start Date: February 20, 1923
Location: Sallisaw, Oklahoma (35.460, -94.787)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: de97df5d3b7d3e14

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health

Receivership Details

Depositor recovery rate: 19.4%
Date receivership started: 1927-10-24
Date receivership terminated: 1930-10-31
Share of assets assessed as good: 11.5%
Share of assets assessed as doubtful: 45.9%
Share of assets assessed as worthless: 42.6%

Events (3)

1. January 23, 1905 Chartered

Source: historical_nic

2. February 20, 1923 Run

Cause: Local Banks
Cause Details: Run and closing of Sallisaw Bank & Trust Co. after withdrawals (~$18,000) spurred fear that could trigger withdrawals at First National.
Measures: Obtained $100,000 in currency shipped from Muskogee banks to meet potential withdrawals.
Newspaper Excerpt: $100,000 IN THE BANK ... Money Shipped in From Muskogee; ... to ward off a threatened run on that bank.
Source: newspapers

3. October 24, 1927 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 21, 1923 Tulsa World Tulsa, OK

Article from Tulsa World, February 21, 1923

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Article Text

BELIEVE SALLISAW RAID FRUSTRATED Fugitive Outlaw, With 2 Companions Caught in Drag-net $100,000 IN THE BANK Money Shipped in From Muskogee; Bandit to Be Returned to Arkansas SALLISAW, Feb. 20.—Police and county officers at an early hour this morning frustrated what they say was a well-laid plan to rob the First National bank of this city of $100,000 cash brought here from Muskogee banks Monday afternoon, to ward off a threatened run on that bank. The story, as related by Deputy Sheriff Roy Cheek, indicates Ed Lockhart, companion of Henry Starr on the latter's last raid at Harrison, Ark., when the noted outlaw was killed, with his brother, Sam Lockhart of Tahlequah and Ky Carlisle of Cookson, were prepared to rob the bank when arrested by officers. Perry L. Chucalate, night marshal of Sallisaw, walking the city streets at 3:30 o'clock this morning, noticed two men tampering with an automobile owned by Bert Cotton, undersheriff of Sequoyah county. Chucalate went to the rear of Cotton's home, awakened the latter and the two officers then went to the front of the yard, where the car was parked, and arrested the two men. The prisoners, Carlisle and Sam Lockhart, were recognized immediately after the arrest. Looked for Sam's Brother. With the prisoners the officers went to the county jail, where they found Roy Cheek, undersheriff. Suspecting by the presence of Sam Lockhart the probability that Ed Lockhart, wanted in both Missouri and Arkansas for bank robbery, was also in the city, the three officers, with the prisoners, entered Cotton's auto and drove about on the streets. After driving for some time, a Ford roadster was seen parked beside the road on the outskirts of the city, and as the auto approached the officers saw the headlights dimmed and then lighted several times, as if signals were being given by the person or persons in the car. The officers drove to a point only a few feet from the Ford auto and all stepped out with rifles leveled at the smaller car. An investigation showed Ed Lockhart to be the occupant. Although armed with a rifle and automatic pistol, the third prisoner made no attempt at resistance. The three robber suspects were placed in the county jail, although it is not thought probable any charge greater than tampering with an automobile can be placed against them. It is known, however, there is a large reward for the capture of Ed Lockhart in Arkansas and the latter will be turned over to authorities of that state. Escaped After Bank Raid. Cheek stated today he was certain Lockhart was a companion of Henry Starr when the latter was fatally wounded during a raid on a bank at Harrison, Ark., two years ago last November. Lockhart, he said, had been arrested many times in three states, but by one method or another has escaped punishment. The rumored run on the First National bank of this city was occasioned by what is said to have been unwarranted action on the part of a number of citizens living in the Akins community, six miles northeast of this city, in withdrawing their deposits from the Sallisaw Bank & Trust Co. last Saturday. Following a rumor the trust company was not sound, more than $18,000 was withdrawn and the bank closed its doors. D. P. Delaney, president of the trust company, immediately notified the state bank commissioner and it is believed certain the trust company will again open its doors within a few days. Delaney stated the closing was occasioned only by the big run on the bank, for which it was not prepared. Following this run officials of the First National bank, fearing a run might also occur there, obtained the sum of $100,000 in currency from Muskogee banks to forestall difficulties involved in such action by depositors. It was for the purpose of obtaining this $100,000 that the plans of Lockhart and his companions were made to rob the bank, according to statements of city and county officials. LITTLE ROCK, Ark., Feb. 20.—Henry Starr, Oklahoma bandit was fatally wounded at Harrison, Ark., February 18, 1921, when he, with two other men, held up the Peoples bank at Harrison. The three bandits were packing officials into the bank vault when W. J. Meyers, a former officer of the institution, picked up a rifle hidden in the vault and shot Starr down. He opened fire on Starr's two companions but they succeeded in escaping in an automobile. Starr, before his death several days later, gave the names of his