Santa Rosa National Bank (Santa Rosa, CA)

View Charter #3558 on SPMC View balance sheet

Episode Information

Episode UID
355801426
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
35580 national
Charter Number
3558
Start Date
October 1, 1918*
Location
Santa Rosa, California (38.447, -122.706)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ffd320651e43defa

Response Measures

None

Receivership Details

Depositor recovery rate
61.5%
Date receivership started
1918-10-18
OCC cause of failure
Fraud
Share of assets assessed as good
49.2%
Share of assets assessed as doubtful
30.8%
Share of assets assessed as worthless
20.0%

Description

The articles focus on the sentencing of the cashier for embezzlement and mention the bank is in the hands of receivers, implying a prior suspension and closure.

Events (4)
1. September 15, 1886 Chartered
Source
historical_nic
2. October 1, 1918* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Embezzlement and defalcations by the bank cashier aggregating over $1,000,000.
Newspaper Excerpt
He told the court he delivered to receivers of the bank property he considered worth more than $400,000 to cover speculation losses.
Source
newspapers
3. October 18, 1918 Receivership
Source
historical_nic
4. May 1, 1919 Receivership
Newspaper Excerpt
He told the court he delivered to receivers of the bank property he considered worth more than $400,000 to cover speculation losses.
Source
newspapers

Newspaper Articles (2)
1. May 1, 1919 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, May 1, 1919

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Article Text

TEN YEARS FOR A BANK CASHIER By Associated Press SACRAMENTO, May 1.-Frank Brush, cashier of the Santa Rosa National bank pleaded guilty in the United States district court today on the charge of embezzling $240,000 funds of the bank. He was sentenced to ten years in a Federal penitentiary He told the court he delivered to receivers of the bank property he considered worth more than $400,000 to cover speculation losses. Fernando Somozav, son-in-law of the late former president of Honduras, Harold Loughery and William Grant, the latter two asistant cashier's pleaded not guilty to similar charges. The federal attorney told the court that the report of the bank examiner showed a defalcation aggregating $1,036,000 since 1916. Defendant's attorneys claimed some of these losses were caused by "poor banking judgment that could not be construed as criminal."

2. May 1, 1919 Imperial Valley Press El Centro, CA
Article from Imperial Valley Press, May 1, 1919

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Article Text

SENTENCE SANTA ROSA BANKER TO PENITENTARY (By Associated Press) Sacramento, May 1.-Frank Brush, cashier of the Santa Rosa National Bank, pleaded guilty in the United States District court here today to a chargé om embezzling $204,000 of the funds of the bank and was sentenced to ten years in the federal penitentiary. He told the court he delivered to receivers of the bank property he considered worth more than $400,000, to cover speculations. Fernando Somoza, Brush's son-inlaw and son of a former president of Honduras; Harold Lougery, William Grant, the latter two assistant cashiers, pleaded not guilty to similar charges. The federal atterney told the court the report of the bank examiner showed defalcations aggregating $1,036.000. The Defendant's attorney claimed that some of this loss was caused by "poor banking judgment and could not be construed as criminal."