Oklahoma State Bank (Eufaula, OK)

Episode Information

Episode UID
86103571490
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
8610357 routing
Routing Number
86-1035
Start Date
February 20, 1924
Location
Eufaula, Oklahoma (35.287, -95.582)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ae7b15783ba6bd36

Response Measures

None

Description

Institution was reorganized and reopened as Farmers and Merchants bank.

Events (3)
1. February 20, 1924 Run
Cause Details
Continued withdrawals of deposits over the two weeks preceding Feb. 20, 1924.
Newspaper Excerpt
Slow Run on Bank Past Two Weeks Is Cause of Failure; ... Suspension of business was due, according to Cashier M. S. Fears, to continued withdrawals of deposits for the past two weeks.
Source
newspapers
2. February 20, 1924 Suspension
Cause
Government Action
Cause Details
Closed and placed in charge of the state banking department after continued withdrawals.
Newspaper Excerpt
The Oklahoma State bank closed its doors yesterday and today was placed in the hands of the state banking department.
Source
newspapers
3. March 17, 1924 Reopening
Newspaper Excerpt
The Farmers and Merchants bank ... will open for business March 17 ... to take over the affairs of the First National bank and the Oklahoma State bank that suspended here recently.
Source
newspapers

Newspaper Articles (2)
1. February 21, 1924 Tulsa World Tulsa, OK
Article from Tulsa World, February 21, 1924

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Article Text

CLOSE EUFAULA BANK Slow Run on Bank Past Two Weeks Is Cause of Failure; Expect to Resume Business Soon. By the Associated Press State Wire EUFAULA, Feb. 20.—The Oklahoma State bank closed its doors yesterday and today was placed in the hands of the state banking department. Suspension of business was due, according to Cashier M. S. Fears, to continued withdrawals of deposits for the past two weeks. The bank was organized in 1916. D. B. Whybark is president. The institution had a capital stock of $25,000. Cashier Fears stated today that the amount of deposits could not be ascertained until the books had been checked. He said plans were under way to reorganize the institution and resume business at an early date. OKLAHOMA CITY, Feb. 20.—J. W. Shosner, an examiner for the state banking department, was placed in charge of the Oklahoma State bank at Eufaula which closed its doors yesterday, it was announced today at the office of the state bank examiner.

2. March 12, 1924 Tulsa World Tulsa, OK
Article from Tulsa World, March 12, 1924

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Article Text

OPEN REORGANIZED BANK Failed Institution at Eufaula Refinanced—Ernest President. Special to The World. EUFAULA, March 11.—The Farmers and Merchants bank which is being organized to take over the affairs of the First National bank and the Oklahoma State bank that suspended here recently, will open for business March 17 it is announced. H. B. Ernest, who is associated with the United National bank of Okmulgee, will be president. The bank will start with a capital of $50,000 and a surplus of $10,000. It will be a state institution. The assets and liabilities of the First National and the Oklahoma State will be consolidated with the Farmers and Merchants in addition to the latter's investment. Stock-