Guaranty State Bank (Okmulgee, OK)

Episode Information

Episode UID
86096571442
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
8609657 routing
Routing Number
86-0965
Start Date
February 27, 1920
Location
Okmulgee, Oklahoma (35.623, -95.961)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b1b429eaf1fd52ce

Response Measures

None

Description

Bank was found insolvent and later merged with Bank of Commerce (defunct).

Events (3)

1. February 27, 1920 Suspension
Cause
Bank Specific Adverse Info
Cause Details
An official examination on 1920-02-27 found the bank insolvent; authorities allege it continued to operate while insolvent.
Newspaper Excerpt
an examination of its affairs on Feb. 27, 1920, and that Governor Robertson and Dennis ... failed to close the Guaranty State Bank after it had been found insolvent.
Source
newspapers
2. January 3, 1921 Other
Newspaper Excerpt
Cook was president of the Guaranty State Bank which was merged with the Bank of Commerce here on January 3, 1921. ...defunct Bank of Commerce, was arrested on eight indictments, ... .
Source
newspapers
3. March 22, 1922 Other
Newspaper Excerpt
charged ... failing to close the Guaranty State Bank after it had been found insolvent. A joint indictment charging Governor J. B. A. Robertson and Fred G. Dennis, Guaranty State Bank ... was returned ...
Source
newspapers

Newspaper Articles (2)

Article from The Daily Ardmoreite, March 22, 1922

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Article Text

OFFICIALS AT OKMULGEE TO ANSWER CHARGE Fred Dennis, Named Jointly With Robertson Report to Have Disappeared. $25,000 BRIBE TO LET BANK OPERATE State Funds Placed in Firm in Order to Permit it to Run Though Insolvent. OKMULGEE, Okla.-A joint indictment charging Governor J. B. A. Robertson of Oklahoma and Fred G. former state with a to the permit missioner Dennis, Guaranty accepting State banking Bank bribe com- here to continue business after it had been found insolvent, was returned by the state district court grand jury Tuesday, it was learned Wednesday by the Associated Press. Sherifi Frank Sowers, of Okmulgee county, now has a warrant for Governor Robertson's arrest but said he expected to hear from the executive some time during the day and that he did not intend to serve the warrant immediately. Later, word was received here by a confidential source that Governor Robertson would be here "on the first train." Dennis is Missing. Dennis disappeared from Oklahoma City soon after resigning from office. So far as is known, local authorities have no clue as to his present where. abouts. He IS charged in another in. dietment with failing to close the Guaranty State Bank after it had been found insolvent. The joint indictment charged that 1 State be insolvent by the found Guaranty to Bank affairs Dennis had after been Feb. an examination of its on 27. 1920, and that Governor Robertson and Denis. having been under the law to determine the solvency or insolvency of the bank, did "unlawfully. corruptly, knowingly. wilfully and feloniously" acept $25,0000 as a bribe or reward from John H. Rebold, under an agreement that $150,000 state funds would be deposited in the insolvent bank and that the bank would be allowed to continue to do business while in a state of insolvency. This money, the indictment charged, was paid in a cashier's check, which was later cashed by Governor Rob. ertson and Dennis, Bank President Arrested. S Later J. Ray Brown, president of the defunct Bank of Commerce, was arrested on eight indictments, four of which charged accepting deposits in an insolvent bank, three charged embezzlement and one charging that he made a false report as to the r condition of the bank. He made bond and was released. in d A. J. Peters, former vice president of the Guaranty State Bank and now president of the American National Bank here was arrested on an indict1 ment alleging that he had removed I abstracts and papers of the Guaranty State Bank and released on bond. 's L. H. D. Cooke, a former director 0 of the State Bank was the next to be w arrested He was charged with bore rowing money from the bank while 1. serving it DS an officer. of t OKMULGEE. Okla.-John P. Cook. prominent local oil man and John H. well known oil and number were arrested e returned 1. operator. on Rebold, indictments after by Wednesday the district court grand jury an inis vestigation into bank failures in the county d Cook was president of the Guaranty e State Bank which was merged with k the Bank of Commerce here on Janu. 1. ary 3. 1921. and Rebold was vice president. rt t. Eight separate warrants were serv r ed on Rebold, charging accepting de n posits in an insolvent bank in four d cases. bribing an officer, accepting se bribes. perjury. and unlawfully bor. y rowing money fram a bank while an active officer of the institution. He immediately perfected bonds totalling $15,000 for his release pending trial. Cook was arrested under five warrants charging accepting deposts n an insolvent bank in four cases and bribing an officer. He was released under bonds amounting to $6,000. John W. Hammond, president or a local wholesale grocery concern and formerly a director in the Guaranty State Bank later was arrested on a charge of unlawfully borrowing money while an active and managing officer 's in a bank. He was allowed bond of $1,000.


Article from Beckham County Democrat, November 8, 1923

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Article Text

First of the prosecutions growing out of the bank failures in Okmulgee, ended in an acquittal. John H. Rebold, former capitalist, state food administrator during the war, was freed on a charge of receiving deposits in the Guaranty State Bank when it was known to be insolvent. Governor J. B. A. Robertson and Bank Commissioner Fred Dennis were among others indicted by the same grand jury which charged Rebold.