gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b212d16378032363
Response Measures
None
Receivership Details
Depositor recovery rate
10.0%
Date receivership started
1933-10-27
Date receivership terminated
1935-10-31
Share of assets assessed as worthless
100.0%
Description
1934 article shows the bank was closed and in receivership; motive for failure not described in current articles.
Events (5)
1.July 20, 1900Chartered
Source
historical_nic
2.October 28, 1907Suspension
Cause
Government Action
Cause Details
Proclamation closing banks for one week (territory/state-wide action affecting northern Texas banks).
Newspaper Excerpt
Acting Governor Filson today issued a proclamation closing the banks of the territory for one week ... The closing is for the purpose of protecting the banks in case of a run.
Source
newspapers
3.June 9, 1931Voluntary Liquidation
Source
historical_nic
4.October 27, 1933Receivership
Source
historical_nic
5.September 13, 1934Receivership
Newspaper Excerpt
Judgment for $47,900 ... the closed First National Bank of Mineral Wells ... by John A. Best, receiver of the bank. The assets of the bank are being liquidated.
Oklahoma Banks Close for Week.
Oklahoma City, Okla., Oct. 28.-Acting Governor Filson today issued a proclamation closing the banks of the territory for one week, on demand of the bankers. This action was taken because the banks at Kansas City and St. Louis refused to forward cash to the banks of the southwest.
Concerted Action Taken.
It is said that a consultation of the bankers of Oklahoma, Indian territory, Arkansas and northern Texas by means of the telephone took place during the early hours today, and all have taken similar action. The closing is for the purpose of protecting the banks in case of a run.
BANK RECEIVER ASKS JUDGMENT OF $47,900
Judgment for $47,900. the amount levy by the Comptroller of the Currency against 479 shares stock the closed First National Bank of Mineral Wells, is asked in petition filed Federal Court here Thursday against Williams of MinerWells by John A. Best, receiver of the bank. The assets of the bank are being liquidated. The petition asserts Williams recorded as the owner of bank stock, that the Comptroller has issued assessment against the stock and that it paid.
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.
