gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f938a5485c018edf
Response Measures
None
Description
Articles state the bank is in the hands of Bank Examiner Berg and will be reorganized.
Events (1)
1.July 16, 1903Suspension
Cause
Bank Specific Adverse Info
Cause Details
Mismanagement led the bank to be placed in the hands of the state bank examiner and slated for reorganization.
Newspaper Excerpt
Owing to a series of misfortunes the West Salem Exchange bank ... is ... in the hands of Bank Examiner Berg. The former will be reorganized.
Source
newspapers
Newspaper Articles (9)
1.July 17, 1903Rock Island ArgusRock Island, IL
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Article Text
Two Wisconsin Banks in Trouble. LaCrosse, Wis., July 17.-Owing to a series of misfortunes the West Salem Exchange bank and the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. It is said D. D. Samuels, vice president of the Bangor bank and president of the Exchange bank, will withdraw from both. The trouble was precipitated by a run on the Bangor bank, which It was unable to meet.
2.July 17, 1903The SunNew York, NY
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Article Text
Two Wisconsin Banks in Trouble. LA CROSSE. Wis., July 16.-Owing to a series of misfortunes the West Salem Exchange Bank and the Farmers & Merchants' Bank of Bangor are in the hands of Bank Examiner Berg. The former will he reorganized, and the latter will either be sold or placed in the hands of a receiver.
3.July 22, 1903Watertown RepublicanWatertown, WI
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Article Text
Two Banks Closed. La Crosse, Wis., July 16.-Owing to a series of misfortunes the West Salem Exchange bank and the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
4.July 23, 1903The Manitowoc PilotManitowoc, WI
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Article Text
Two Banks Closed. La Crosse, Wis., July 16.-Owing to a series of misfortunesthe West Salem Exchange bank and the Farmers and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
5.July 23, 1903The Manitowoc PilotManitowoc, WI
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Article Text
Two Banks Closed. Owing to a series of misfortunes the West Salem Exchange bank and the Farmers and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
6.July 23, 1903River Falls JournalRiver Falls, WI
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Article Text
Two Banks Closed. Owing to a series of misfortunes the West Salem Exchange bank and the Farmers and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
7.July 24, 1903The Ely MinerEly, MN
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Article Text
Two Banks Closed. La Crosse, Wis., July 16.-Owing to a series of misfortunes the West Salem Exchange bank and the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
8.July 25, 1903The L'anse SentinelL'anse, MI
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Article Text
Two Banks Closed. La Crosse, Wis., July 16.-Owing to a series of misfortunes the West Salem Exchange bank and the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
9.August 1, 1903Watertown RepublicanWatertown, WI
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Article Text
Two Banks Closed. Owing to a series of misfortunes the West Salem Exchange bank and the Farmers and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
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.
