gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
61f73c5c5d70ed68
Response Measures
None
Receivership Details
Depositor recovery rate
59.1%
Date receivership started
1920-08-20
Date receivership terminated
1932-06-01
OCC cause of failure
Fraud
Share of assets assessed as good
77.0%
Share of assets assessed as doubtful
19.7%
Share of assets assessed as worthless
3.3%
Description
Receiver (Paul C. Keyes) is repeatedly referenced and court actions in 1924โ1928 concern receiver rights; indicates permanent closure with receiver.
Events (5)
1.November 28, 1919Chartered
Source
historical_nic
2.August 20, 1920Receivership
Source
historical_nic
3.August 16, 1924Receivership
Newspaper Excerpt
Paul C. Keyes, receiver of the First National bank at Eureka, S. D.
Source
newspapers
4.September 18, 1924Other
Newspaper Excerpt
Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money...
Source
newspapers
5.October 22, 1928Other
Newspaper Excerpt
The receiver of the First National bank of Eureka, S. D., today was refused review by the United States supreme court...
Source
newspapers
Newspaper Articles (10)
1.August 19, 1924The Bismarck TribuneBismarck, Mandan, ND
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Article Text
"NORTH and South Dakota lands are commencing to move at reasonable prices. I have for sale 5,000 acres of good land in the two states in large and small tracts and would prefer to deal direct with purchasers rather than through agents. Paul C. Keyes, Receiver, The First National Bank of Eureka, P. O. Box 958, Federal Building, Aberdeen, South Dakota." 8-16-19-21-23-26-28
2.September 18, 1924Rock County LeaderBassett, NE
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Article Text
BANK RECEIVER GETS SHARE OF LIFE INSURANCE
Denver, Colo., Sept. โ Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.
3.September 18, 1924The Allen NewsAllen, NE
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Article Text
BANK RECEIVER GETS SHARE OF LIFE INSURANCE
Denver, Colo., Sept. โ Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.
4.September 18, 1924The FrontierO'Neill, NE
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Article Text
BANK RECEIVER GETS SHARE OF LIFE INSURANCE
Denver, Colo., Sept. โ Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.
5.September 18, 1924North Nebraska EagleDakota City, NE
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Article Text
BANK RECEIVER GETS SHARE OF LIFE INSURANCE
Denver, Colo., Sept. โ Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.
6.September 18, 1924Winnebago ChieftainWinnebago, NE
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Article Text
BANK RECEIVER GETS SHARE OF LIFE INSURANCE
Denver, Colo., Sept. โ Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.
7.September 18, 1924Winside TribuneWinside, NE
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Article Text
BANK RECEIVER GETS SHARE OF LIFE INSURANCE
Denver, Colo., Sept. โ Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.
8.September 19, 1924The Pender RepublicPender, NE
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Article Text
BANK RECEIVER GETS SHARE OF LIFE INSURANCE
Denver, Colo., Sept. โ Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.
9.September 19, 1924The Orchard NewsOrchard, NE
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Article Text
BANK RECEIVER GETS SHARE OF LIFE INSURANCE
Denver, Colo., Sept. โ Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.
10.October 22, 1928Argus-LeaderSioux Falls, SD
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Article Text
EUREKA BANK RECEIVER DENIED REVIEW OF CASE
Washington, Oct. 22.-(P)-The receiver of the First National bank of Eureka, S. D., today was refused review by the United States supreme court of decision of the lower federal courts holding that the First National bank of S. D., had the right to charge off 'on its books against the funds of Eureka which held, notes totaling more than $37,000.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.