gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7af7cb025e2d6ce3
Response Measures
Full suspension, Books examined
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1903-10-01
Date receivership terminated
1906-10-09
OCC cause of failure
Fraud
Share of assets assessed as good
55.0%
Share of assets assessed as doubtful
45.0%
Events (7)
1.February 24, 1902Chartered
Source
historical_nic
2.October 1, 1903Receivership
Source
historical_nic
3.October 1, 1903Receivership
Newspaper Excerpt
The comptroller of the currency has appointed receivers for the Bolivar National bank, Bolivar, Pa.; Bank Examiner John B. Cunningham has been appointed receiver.
Source
newspapers
4.October 1, 1903Run
Cause
Rumor Or Misinformation
Cause Details
Persistent three-week run began with circulation of a rumor the bank was unsafe.
Measures
Directors decided to close the doors; president telegraphed the Comptroller that bank was insolvent.
Newspaper Excerpt
Johnstown, Penn., Oct. 1.-The Bolivar National Bank closed its doors to-day, following a quiet but persistent run on the institution, which began some three weeks ago with the circulation of a rumor that it was unsafe.
Source
newspapers
5.October 1, 1903Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency appointed a receiver after the bank closed owing to lack of funds/insolvency.
Newspaper Excerpt
The comptroller of the treasury has received telegrams announcing the failure of the Packard National bank of Greenfield, Mass., and of the Bolivar National bank of Bolivar, Pa., of which Examiner John Cunningham has been appointed receiver.
Source
newspapers
6.October 15, 1906Restored To Solvency
Source
historical_nic
7.February 1, 1939Voluntary Liquidation
Source
historical_nic
Newspaper Articles (12)
1.October 1, 1903The Butte Inter MountainButte, MT
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Article Text
TWO FAILURES OF BANKS Washington, Oct. I.-The comptroller of the treasury has received telegrams announcing the failure of the Packard National bank of Greenfield, Mass., and of the Bolivar National bank of Bolivar, Pa., of which Examiner John Cunningham has been appointed receiver.
2.October 1, 1903Santa Fe New MexicanSanta Fe., Santa Fe, NM
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Article Text
TWO NATIONAL BANKS HAVE GONE TO THE WALL. Washington, Oct. 1-The comptroller of the treasurer has received elegrams announcing the failure of two national banks, the Packard National bank, of Greenfield Mass., and the Bolivar National bank of Bolivar, Pa. Receivers were appointed in each case.
Two National Banks Fail. WASHINGTON, D. C., Oct. 1.-The comptroller of the treasury received telegrams announcing the failure of two national banks, the Packard national bank of Greenfield, Mass., and the Bolivar national bank, Bolivar Pa. Receivers were appointed in each case.
4.October 1, 1903The Evening StatesmanWalla Walla, WA
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Article Text
Receivers for National Banks. Washington, Oct. 1.-The comptrolfor of the currency has appointed receivers for the Bolivar National bank Bolivar, Pa., and the Packard National at Greenfield, Mass. The latter is an old established institution. Each gives as a reason for failure the lack of funds.
5.October 1, 1903The Spokane PressSpokane, WA
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Article Text
Receivers Appointed. WASHINGTON, Oct. 1.-The comptroller of the currency has appointed receivers for the Bolivar National bank at Bolivar, Pa., and the Packard National bank at Greenfield, Mass. The latter is an old established bank. Each gives as the reason a lack of funds.
6.October 2, 1903New-York TribuneNew York, NY
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Article Text
NATIONAL BANKS FAIL. One Goes Under in Bolivar, Penn., and One in Greenfield, Mass. Washington, Oct. 1.-The Controller of the Currency has received telegrams announcing the failure of two national banks, the Packard National Bank. of Greenfield, Mass., of which Bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National Bank. of Bolivar, Penn., of which Bank Examiner John B. Cunningham has been appointed receiver. The president of this hank telegraphed the Controller that his bank was Insolvent, and he had closed its doors. Johnstown, Penn.. Oct. 1.-The Bolivar National Bank closed its doors to-day. following a quiet but persistent run on the institution. which began some three weeks ago with the circulation of a rumor that it was unsafe. Since then there has been a constant drain. and at a meeting last night the directors decided to close the doors. President E. R. Hammond says that the bank will be able to meet Its obligations.
7.October 2, 1903The Washington TimesWashington, DC
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Article Text
NATIONAL BANK FAILURES. Failures of two national banks have been reported to the Comptroller of he Currency, the Packard National Bank, of Greenfield, Mass., and the Bolivar National Bank, of Bolivar, Pa. Bank Examiner Frank L. Fish has been appointed receiver of the bank at Greenfield, and Bank Examiner John B. Cunningham of the one at Bolivar. The Bolivar bank has been subjected to a persistent run for about three weeks. President E. R. Hammond says the bank will be able to meet all obligations.
8.October 2, 1903The Savannah Morning NewsSavannah, GA
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Article Text
Two National Banks Fail. Washington, Oct. 1.-The controller of the currency has received telegrams announcing the failure of two national banks-the Packard National Bank, of Greenfield, Mass., of which bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National Bank of Bolivar, Pa., of which Bank Examiner John B. Cunningham has been appointed receiver.
9.October 2, 1903The Montgomery AdvertiserMontgomery, AL
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Article Text
Two Banks Fail. Washington, Oct. 1.-The Comptrollers of the Currency has received telegrams reporting the failure of two national banks, the Packard National bank of Greenfield, Mass., of which Bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National bank, of Bolivar. Pa., of which Bank Examiner John B. Cunningham has been appointed receiver. The President of this pank telegraphed the Comptroller that his bank was insolvent and he had closed its doors.
10.October 2, 1903The Seattle StarSeattle, WA
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Article Text
BUSTED COMPTROLLER OF CURRENCY APPOINTS RECEIVERS FOR DEFUNCT BANKS WASHINGTON, D. C., Oct. 1.The Comptrollershrd lun bnmnmn The comptroller of the currency today appointed receivers for the Bolivar National bank, at Bolivar, Pa., and for the Packard National, at Greenfield, Mass. The latter is an old established banking house. Each gives as a reason for the receivership a lack of funds.
11.October 8, 1903Audubon RepublicanAudubon, IA
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Article Text
Receivers for Two Banks. Washington special: The comptrol. ler of the currency has appointed receivers for the Bollivar National bank of Bolivar, Pa., and the Packard National bank of Greenfield, Mass.
12.October 8, 1903Audubon RepublicanAudubon, IA
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Article Text
Receivers for Two Banks. Washington special: The comptrol. ler of the currency has appointed receivers for the Bollivar National bank of Bolivar, Pa., and the Packard National bank of Greenfield, Mass.
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.