gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0da12ba4d76e1867
Response Measures
None
Receivership Details
Depositor recovery rate
82.9%
Date receivership started
1926-12-01
Date receivership terminated
1935-01-31
OCC cause of failure
Governance
Share of assets assessed as good
38.0%
Share of assets assessed as doubtful
41.6%
Share of assets assessed as worthless
20.4%
Description
Articles state the bank closed Dec 1926 and a national-bank receiver is paying dividends.
Events (4)
1.June 21, 1902Chartered
Source
historical_nic
2.December 1, 1926Receivership
Source
historical_nic
3.December 1, 1926*Suspension
Cause
Government Action
Cause Details
Bank closed in December 1926 and placed under a national bank receiver (receivership).
Newspaper Excerpt
the bank has paid since closing in December, 1926.
Source
newspapers
4.July 3, 1928Receivership
Newspaper Excerpt
announcement has been made by C. M Gilbertson, national bank receiver ... dividends being paid by the two closed banks ... creditors of the First National bank of Leeds are receiving 20 percent as second dividend. The first dividend of the latter institution also was 20 percent, making 40 percent the bank has paid since closing in December, 1926.
Two Closed N. D. Banks Are Paying Dividends
Devils Lake. N. D., July nouncement has been made by C. M Gilbertson. national bank receiver with offices at Cando, of dividends being paid by the two closed banks in the lake region. The First National bank of Minnewaukan, closed last January, Is paywhile creditors of the First National bank of Leeds are receiving 20 percent as second dividend The first dividend of the latter institution also was 20 percent. making 40 percent the bank has paid since closing in December, 1926.
2.July 10, 1928The ForumFargo, ND
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Article Text
Two Closed N. D. Banks Are Paying Dividends
Devils Lake N. D., July 3.-Anbeen made by nouncement Gilbertson. national bank receiver with offices at Cando. dividends being paid by the two closed banks lake region. The First National bank of Minnewaukan, closed last payfirst dividend 30 percent while creditors of the First National bank of Leeds are receiving per. as second dividend. The first dividend of the also was 20 making 40 the bank has paid since closing in 1926.
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.
