First National Bank (Oroville, WA)

View Charter #8279 on SPMC View balance sheet

Episode Information

Episode UID
827901514
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
82790 national
Charter Number
8279
Start Date
February 2, 1926
Location
Oroville, Washington (48.939, -119.436)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1c0cc7eca4e44437

Response Measures

None

Receivership Details

Depositor recovery rate
71.5%
Date receivership started
1926-02-08
Date receivership terminated
1928-08-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
35.2%
Share of assets assessed as doubtful
45.9%
Share of assets assessed as worthless
18.9%

Description

Receivership subsequently pursued by a federal receiver; comptroller adjudged bank insolvent.

Events (4)
1. June 28, 1906 Chartered
Source
historical_nic
2. February 2, 1926 Suspension
Cause
Local Shock
Cause Details
Inability of farmers to meet their notes / agricultural loan delinquencies forced suspension
Newspaper Excerpt
OROVILLE BANK CLOSES DOORS ity to realize loans caused suspension of the First National bank here
Source
newspapers
3. February 8, 1926 Receivership
Source
historical_nic
4. February 8, 1926 Receivership
Newspaper Excerpt
insolvent First National Bank of Oroville ... Richardson, receiver ... comptroller of currency adjudged the bank insolvent
Source
newspapers

Newspaper Articles (2)
1. February 2, 1926 Spokane Chronicle Spokane, WA
Article from Spokane Chronicle, February 2, 1926

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Article Text

OROVILLE BANK CLOSES DOORS ity to realize loans caused suspension of the First National bank here The institution in charge of Marshall Hooper. Seattle, national bank examiner. The bank is capitalized for $50,000 and deposits reported on the call of December 31, were in the agricultural inlast few are responsible for the suspension.' said President Covert "Total resources the institution are close to $200.000. but inability of farmers to meet their notes to the bank forced it the wall. We have not been able to determine If the bank will be able to reopen.

2. June 10, 1926 The Spokane Press Spokane, WA
Article from The Spokane Press, June 10, 1926

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Article Text

COLLECT BANK SHARES Receiver Seeks to Make Ends Meet. Two suits in law. to collect out standing stock shares in the insol vent First National Bank of Oro ville and another suit equity to prevent the collection of taxes on the personal property of the bank and sale property the sher iff. were filed in the office of Fed eral Clerk Harry Clark today Richardson. receiver. complaints assert that the bank founded upon capital stock that the 1000 shares summoned when the comptroller of currency adjudged the bank insolvent. Werley said to be the owner of share of the outstanding stock and Frank Bartell the owner of the remaining two shares. Judgment asked the basis $100 per share, plus per cent interest and costs the case.