gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d5a08184aa2b50b5
Response Measures
None
Receivership Details
Depositor recovery rate
40.3%
Date receivership started
1925-12-24
Date receivership terminated
1931-05-31
OCC cause of failure
Governance
Share of assets assessed as good
28.3%
Share of assets assessed as doubtful
26.7%
Share of assets assessed as worthless
45.1%
Description
Closed by federal examiners; frozen livestock loans cited as cause.
Events (3)
1.December 31, 1919Chartered
Source
historical_nic
2.December 17, 1925Suspension
Cause
Government Action
Cause Details
Placed in hands of federal examiners after it was found the bank could not meet its liabilities; impairment blamed on frozen cattle/ livestock loans
Newspaper Excerpt
the Drovers National Bank ... closed their doors at noon today and are in the hands of federal examiners
Source
newspapers
3.December 24, 1925Receivership
Source
historical_nic
Newspaper Articles (11)
1.December 17, 1925The Hanford SentinelHanford, CA
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Article Text
EXAMINERS CLOSE TWO BANKS
Denver, Dec. 17. (United Press.) Two Denver banks. the Drovers National Bank and the Broadway National Bank, closed their doors at noon today and are in the hands of federal The examiners who ordered the banks closed have made no statement or crowd of several hundred stood in the street in front of the Broadway bank at o'clock waiting for some information concerning the the institution The Broadway National had deposits of over $3,000,000 according to the published statement. The Drovers had deposits approximately Excitement was high the stock yards, where the Drovers located. Many passed by the bank but paused only to read the sign on the door which said the bank had been closed by the board of directors and was in the hands of federal examiners. heavy run started this afternoon on the North Denver Bank, another of the Hollis banks. Between three and four hundred persons were crowding about the teller's cage and in the street shortly before closing time. Payments had not been stopped
2.December 17, 1925Progress-BulletinPomona, CA
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Article Text
TWO DENVER BANKS CLOSE
Federal Examiners Take Charge of Drovers and Broadway National
NO REASON GIVEN
Deposits Total 4 Million; Action Starts Big Run On Allied Institution
By United Press Leased Wire. DENVER, Colo., Dec. Denver banks, the Drovers Nationbank and the Broadway National bank, closed their doors at noon today and are in the hands of federal examiners. The examiners who ordered the banks closed have made no statement or explanation. of several hundred stood in the street in front of the Broadway bank at o'clock waiting for some information concerning the condition of the institution. The Broadway National had deposits of over $3,000,000. according to the last published statement. The Drovers National bank had deposits of approximately $1,000,000. Excitement was high at the stock yards, where the Drovers is located. Many passed by the bank but paused only to read the sign on the door which said the bank had been closed by the of was in the hands of federal examiners. heavy run started this afternoon on the North Denver bank another the Hollis banks. Between three and four hundred persons were crowding about the telIer's cage and in the street shortly before closing time. Payments had not been stopped at m.
3.December 18, 1925The Daily ReportOntario, CA
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Article Text
3RD DENVER BANK Rough Dip ORDERED CLOSED Bishop's 1-1b. Box Christmas Special
Frozen Cattle Paper is Cause for 2 Closings Says Bank President
DENVER, Colo.-Four banks have closed their doors in Denver within two days. The Metropolitan State bank today failed to open its doors. Yesterday the Drovers National, Broadway National and the North Denver State bank all were placed in the hands of federal and state examiners.
DENVED. Colo. With Christmas shopping at its height, three Dates-Bulk Denver banks were today in the 2 pounds 25c hands of bank examiners. The Drovers National bank and Plums-Preserves the Broadway National bank were closed at noon yesterday when It was found they could not meet their liabilities. The North Denver State bank Nutola was, closed last night at the request of the officers of the instiFirst Grade Oleo tution after a heavy run during the afternoon. Made by Armour & Co. Although no statement has been SPECIAL SATURDAY issued by Gordon Hollis, president of two of the closed banks, he replied affirmatively to questions 25c that frozen paper on cattle loans was a cause of his two banks closing.
TWO MORE BANKS CLOSE Epidemic of Financial Disaster In Denver - Four Institutions Now Have Closed Doors. Denver. Colo., Dec. 18 (AP) -Two additional Denver banks-the Capitol Hill State bank and the Metropolitan State bank-failed to open today. Two National banks and one state bank were closed yesterday. Grant McFerson, state bank commissioner announced that examiners had taken charge of the Metropolitan and Capitol Hill banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week and a run on the Capitol Hill yesterday were instrumental in the closing, officials said. The banks closed yesterday were the Broadway National, the Drovers National and the North Denver bank, the latter a state institution. These banks had deposits of about $3,500,000. The Broadway National was the largest with deposits of about $2,500,000. Impairment of capital and frozen paper in livestock loans were ascribed as the reason for the closing of the two National banks. Gordon Hollis was president of the two National banks and his wife, Mrs. M. E. Hollis, was president of the North River bank.
5.December 18, 1925The Oklahoma NewsOklahoma City, OK
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Article Text
FIVE DENVER BANKS CLOSE
Three Yesterday and Two Today Fail to Open Doors five local banks closed and the of bank
Denver nervously the in financial circles today The Capitol State bank put the hands of this morning the State failed the Drovers the Brondway and
North banks in of federal and the blamed the that for flocked
6.December 18, 1925News-PilotSan Pedro, CA
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Article Text
Frozen Loans Force Closing of Three Banks in Denver
(By United Press) DENVER. Colo., Dec. Christmas shopping at its height, three Denver banks were today hands of bank examiners. The Drovers National Bank and the Broadway National Bank closed noon yesterday when found they could not meet their liabilities. The North DenState Bank closed last night the request of the offiof the institution after heavy during the afternoon. Although statement has been issued by Gordon Hollis, president of the closed banks, replied questions that frozen paper cattle loans cause his two banks closing.
7.December 18, 1925The Whittier NewsWhittier, CA
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Article Text
FIVE DENVER BANKS ARE FORCED TO CLOSE
Serious Situation Is Developing as Runs Are Started
DENVER, Colo., Dec. 18. (United Press)-Four banks have closed their doors in Denver within two days. The Metropolitan State Bank today failed to open its doors. ter the Drovers' National, Broadway National and the North Denver State bank were placed in the hands of Federal and State examiners. James R. Adams, president of the Metropolitan bank, said today that the bank had been turned over to State Examiners at his request. The Metropolitan several weeks ago, according to Adams, had deposits of $400,000 and since that time they have been reduced to about In view of the bad banking situation here and to protect the interests our depositors,' he said. "We deemed advisable to turn the bank over to State officials. A heavy run developed this morning when the Central Savings Bank and Trust Company opened its doors. It was estimated that 500 persons were waiting in the street in front of the bank. Police were in charge of the crowd and only a few were let into the bank at time. Rumors were afloat all over town and serious situation was developing with withdrawals increasing at many banks. The Capitol Hill State bank was put in the hands of state examiners shortly after opening this morning when crowd was found waiting to withdraw their accounts. This makes five banks with closed doors. The Capitol Hill State bank is a small suburban bank.
By United Press Leased Wire. DENVER, Colo., Dec. 18.-With
(Continued on Page Two)
8.December 18, 1925Sapulpa HeraldSapulpa, OK
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Article Text
BANKS ARE CLOSED BY EXAMINERS
Five Denver Banking House Are Ordered Closed As Christmas Rush Presses.
Colo., Dec. Christmas shopping its height. three banks were today in the hands of bank examienrs. The Drovers National bank and the Broadway National aBnk closed noon yesterday when was found they could meet their liabilities. The North Denver State Bank was closed last night the request the officers of the institution after heavy during the run Although no statement has been issued by Gordon he Hollis, president of tow of the closed banks, he plied affirmatively to questions that frozen paper on cattle loans on the closing announced today that all during the forenonnyesterday was kept separate and that deposits made will be returned full.
Colo., Dec banks have closed in Denver within two days. The Metropolitan State bank day failed open its doors Yesterday the Broadway National and the North State Banks were all placed the in hands federal and state examiners. James Adams, president of the Motropolitan said today that the bank had been turned over to examiners at his request. The Metrooplitan several weeks ago, according Adams, had posits and since that time they have been reduced to about 'In view the bad banking sit uation here and protect the interests of our depositors,' he said, deemed to turn the bank to the state officials."
9.December 18, 1925York News-TimesYork, NE
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Article Text
Three Denver Banks in Examiners' Hands
DENVER Colo., Dec. 18.-(UP) With Christmas shopping at its height, three Denver banks were today in the hands of bank examiners The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the af-
Although no statement had been issued by Gordon Hollis, president of the two closed national banks, he replied to, questions that frozen loans on cattle were a cause of their closing.
10.December 18, 1925Daily American RepublicPoplar Bluff, MO
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Article Text
FIVE DENVER BANKS CLOSED
Ey United Press DENVER. Colo., Dec. five local banks closed and in the hands of bank examiners. all Denver nervously awaited the next move in firencial circles today. The Capitol Hill State Bank was put into the kinds of receivers this afternoon after the Metropolitan State Bank failed to open its doors. Yesterday. the Drovers' National. The Broadway National and the North Denver State Banks were placed in the hands of federal and state examiners. Frozen credits and the depression in the live stock industry were jointly blamed for the closing of the Institutions whose deposits total seven millions of dollars. While the belief was expressed by officials that the banks would open for business as soon as their affairs were straightened out, the depositors about notices of closing and speculated on their chances. Police were in charge of a crowd estimated at more than 500 persons who started on the Central Savings Bank today. Only few depesitors were admitted at'a time. With Christmas shopping at its peak, depositors found themselves unable to do much buying and recalling two previous bank failures in the past two years.
By United Press
DENVER. Colo., Dec. 18.-With Christmas shopping at its height, *hree Denver banks today were in the hands of bank examiners. The National Bank and the Broadway National Bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State Bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon. Although no statement has been issued by Gordon Hollis, president of the two closed National banks, he replied affirmatively to questions that frozen paper cattle loans were the cause of their closing. It was announced today that all business done during the forenoon yesterday was kept separate and that deposits made will be returned in full
11.December 20, 1925Star TribuneMinneapolis, MN
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Article Text
Two Additional Banks Close Doors in Denver
Denver, Dec. 19. (By Associated Press.) small state failing to their dors yesterday, left Den pen ver with five closed banks. The banks, with total deposits of ap proximately $4,250,000. are the Broadway National bank, the Drovers' tional bank and the North Denver bank, which closed yesterday, and the Capitol Hill State bank and the Metropolitan State bank, which did not open today.
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.
