Beaumont National Bank - Beaumont, TX

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5201
Charter Number: 5201
Start Date: August 20, 1903
Location: Beaumont, Texas (30.086, -94.102)

Metadata

Model: gpt-5-mini
Short Digest: 42a741a427e6160b

Response Measures

None

Description

OCRed article (1903-08-23) reports a Beaumont national bank failure and that a receiver was appointed after closure by direction of the Comptroller; it cites excessive loans to Oliver as cause. The article's text appears to refer to a '... National Bank of Beaumont' (OCR rendered as 'S. National Bank of Beaumon[f]'), creating some uncertainty about the exact official name; I retained the provided bank name. No explicit depositor run is described — the bank was closed and a receiver appointed, so classified as suspension leading to closure. Date of closure inferred from article (cashier closed bank on the 20th).

Events (4)

1. June 29, 1899 Chartered

Source: historical_nic

2. August 20, 1903 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Excessive loans to an individual (Oliver) and poor loan quality revealed, prompting closure and appointment of a receiver
Newspaper Excerpt: the Groesbeck, Texas ... closed by the cashier on the 20th by direction ... appointed receiver ... The failure of t is said to be ... led to the closing of the ... National Bank of Beaumont ... appointed receiver
Source: newspapers

3. August 23, 1903 Receivership

Newspaper Excerpt: Bank Examiner J. appointed receiver The failure of t ... appointed receiver ... the failure of the ... National Bank of Beaumont ... appointed receiver by the Comptroller of the Currency (telegram dated Aug.)
Source: newspapers

4. November 2, 1905 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. August 23, 1903 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, August 23, 1903

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Article Text

EXCESSIVE LOANS TO OLIVER. This Was Cause o Supp nsion of Groesbeck Bank Comptroller Washington, Aug. a telegram of the Currency today tional Bank stating that the Groe of Groesbeck, Texas osed by the cashier on the 20th by direction as a result of the president of ens National of the failure of t S. National Bank of Beaumon ford has been Bank Examiner J. appointed receiver The failure of t is said to be ich led to the due to the same ational Bank, closing of the ( large excessive 1 od Oliver, who sociations and was president ( e was interestto enterprises 17 ed. The resou liabilities of the bank, as show last report of ller of the Curcondition to tr as follows: Rerency June 9, sources, loans iscounts $173,321; secure circulation United States $12,500; real est ⑆ due from banks sh and cash items and bankers, : $4,678; total Liabilities, capital und and undivided stock, $50,000; tion $12,500; due to profits, $21,429 banks and be 3,351; individual ded bills rediscounted posits $84,376; 45; total $233,902. and bills pay