gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
76eb6443c1d82998
Response Measures
None
Description
Embezzlement by former cashier is mentioned in 1924 reporting and likely related to ultimate closure.
Events (5)
1.November 10, 1922Suspension
Cause Details
Article states bank suspended since Nov. 10, 1922 but gives no explicit cause in that notice.
Newspaper Excerpt
operations of the bank had been suspended since November 10, 1922
Source
newspapers
2.April 6, 1923Reopening
Newspaper Excerpt
DRISCOLL BANK IS REOPENED ... The doors of the Driscoll State Bank ... were open again today after operations of the bank had been suspended since November 10, 1922; reorganized through a 100 percent stock assessment ... reopened with a reserve more than double the legal requirement.
Source
newspapers
3.November 1, 1923*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reported closed in Nov. 1923; subsequent articles cite embezzlement by former cashier and insolvency/receiver actions.
Newspaper Excerpt
The Driscoll State bank has been closed.
Source
newspapers
4.March 12, 1924Receivership
Newspaper Excerpt
Notice is hereby given by the undersigned, L. R. Baird, ... as receiver of the Driscoll State Bank ... Dated March 12th, 1924. L. R. BAIRD, Receiver.
Source
newspapers
5.March 2, 1926Other
Newspaper Excerpt
Depositors' Guaranty Fund commission is now ready to pay a 10 per cent dividend on guaranteed deposits in the Driscoll State bank ... included in this list.
Source
newspapers
Newspaper Articles (11)
1.April 6, 1923The Bismarck TribuneBismarck, Mandan, ND
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Article Text
DRISCOLL BANK IS REOPENED More Than Double Legal Reserve Is Provided The doors of the Driscoll State Bank of Driscoll, Burleigh county, were open again today after operations of the bank had been suspended since November 10, 1922, it was announced by Gilbert Semingson, state examiner. The bank was reorganized through a 100 percent stock assessment made by the 'stockholders and through other added strength, enabling the bank to reopen with a reserve more than double the legal requirement, Mr. Semingson said. New officers of the bank are: President, J. H. Elwell,' Huron, S. D.; Vice-President, Alice Barnes, Huron, S. D.; Cashier, C. B. Mills, Huron, S. D.; Assistant Cashier, E. J. Erickson Driscoll; directors Alice Barnes, Mr. Elwell and W. L. Mall of Huron, S. D. The Huron people are interested in the Farmers and Merchants Bank of the Squth Dakota city. Mr. Mall, here to complete the details of the reorganization, expressed himself pleased with the result. The capital of the bank is $15,000.
2.November 26, 1923The Bismarck TribuneBismarck, Mandan, ND
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Article Text
BANKS SUSPENDED. The First State Bank of Hastings, Barnes county, has been put on special deposit by the state guaranty fund commission. The bank has $15000 capital, $6,000 surplus and $160,000_ deposits. The State Bank of Kramer has been closed. It has $10,000 capital, $10,000 surplus and deposits of $110,000. The Driscoll State bank has been closed. It has $15,000 capital, $3,000 surplus and $110,000 deposits.
3.January 12, 1924The Bismarck TribuneBismarck, Mandan, ND
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Article Text
BILLINGTON SETTLES CASE Former Cashier of Driscoll State Bank Pays $1,200 The embezzlement charge against O. R. Billington, formerly cashier of the Driscoll State Bank, was dismissed in district court today by Judge James A. Coffey on motion of State's Attorney E. S. Allen. A statement presented to the court by the state's attorney said that Billington would make settlement in the sum of about $1,200. The state's attorney said it appeared doubtful if a conviction could be secured, that he had.communicated with the largest stockholders of the bank, with the bankers' association, the state examiner and with L. R. Baird, receiver of the bank, "and have infermed them that certain claims of the bank against the defendant had been adjusted, and they have informed me that they are of the opinion that I would be perfectly justified, under the circumstances, in asking for a dismissal of the said action against the defendant." The state's attorney also said the county would be saved heavy expense involved in a trial. The original examiner's report charged Billington, who now is in South Dakota, with embezzling several thousand dollars, the charge being chiefly of the sale of property mortgaged to the bank. A jury today heard. the case of W. M. Baker against the RussellMiller company, involving suit for possession of disputed grain.
4.March 18, 1924The Bismarck TribuneBismarck, Mandan, ND
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Article Text
"NOTICE TO CREDITORS In the Matter of the Insolvency of the Driscoll State Bank, Driscoll, North Dakota. Notice is hereby given by the undersigned. L. R. Baird, of Bismarck, North Dakota, as receiver of the Driscoll State Bank of Driscoll, North Dakota,to the creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said claims are not SO filed, they will be barred from any participation in any dividends which may be paid by the Receiver from the assets of said insolvent bank. Dated March 12th, 1924. L. R. BAIRD, Receiver." First publication on 18th day of March, 1924. 3-18-25 4-1-8
5.March 19, 1924The Bismarck TribuneBismarck, Mandan, ND
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Article Text
"NOTICE TO CREDITORS In the Matter of the Insolvency of the Driscoll State Bank, Driscoll, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as receiver of the Driscoll State Bank of Driscoll, North Dakota,to the creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said claims are not so filed, they will be barred from any participation in any dividends which may be paid by the Receiver from the assets of said insolvent bank. Dated March 12th, 1924. L. R. BAIRD, Receiver." First publication on 18th day of March, 1924. 3-18-25-4-1-8
6.March 25, 1924The Bismarck TribuneBismarck, Mandan, ND
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Article Text
"NOTICE TO CREDITOR In the Matter of the Insolvency of the Difscoll State Bank, scoll, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as receiver of the Driscoll State Bank of Driscoll, North Dakota,to the creditors of hid insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver ate his office at Bismarck, within four months after the first publication of this notice. If seed claims are not so filed, they wi be barred from any participation in any dividends which may be paid the Receiver from the assets of said insolvent bank. Dated March 12th, 1924 1. R. BAIRD, Receiver." First publication on 18th day of March, 1924. 3-18-25---4-1-8
7.April 1, 1924The Bismarck TribuneBismarck, Mandan, ND
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Article Text
"NOTICE TO CREDITORS In the Matter of the Insolvency of the Driscoll State Bank, Driscoll, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as receiver of the Driscoll State Bank of Driscoll, North Dakota,to the creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said claims are not so filed, they will be barred from any participation in any dividends which may be paid by the Receiver
8.April 8, 1924The Bismarck TribuneBismarck, Mandan, ND
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Article Text
"NOTICE TO CREDITORS In the Matter of the Insolvency of the Driscoll State Bank, Driscoll, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as receiver of the Driscoll State Bank of Driscoll, North Dakota,to the creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said claims are not so filed, they will be barred from any participation in any dividends which may be paid by the Receiver from the assets of said insolvent bank. Dated March 12th. 1924. L. R. BAIRD, Receiver." First publication on 18th day of March, 1924. 3-18-25--4-1-8
9.March 3, 1926The Bismarck TribuneBismarck, Mandan, ND
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Article Text
Commission Ready to Pay Dividend For Driscoll Bank The Depositors' Guaranty Fund commission is now ready to pay a 10 per cent dividend on guaranteed deposits in the Driscoll State bank of Driscoll, Burleigh county, and has issued instructions regarding the proper presentation of claims. The commission, pursuant to provisions of section 21, chapter 200, session laws of 1923, is ready to pay a 10 per cent dividend on guaranteed deposits in all banks officially closed after September 30 and before November 16, 1923, and the bank at Driscoll is the only one in this county which is included in this list. All deposits must first be allowed by the receiver as a valid claim against the closed bank. Thereafter the Guaranty Fund commission will determine whether or not the deposit is guaranteed. If found to be guaranteed, all deposits of $12 or less will be paid in full; on those over $12 and under $100 a flat dividend of $10 will be paid; on those over $100 a dividend of 10 per cent will be paid. On deposits rejected as not guaranteed, a registered notice will be sent to depositors and under the law he may make application within 90 days for a hearing thereon. Forms and instructions for preparation of claims of depositors against the guaranty fund will be found at every state bank.
10.March 3, 1926The Bismarck TribuneBismarck, Mandan, ND
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Article Text
NOTICE 'ro THE DEPOSITORS IN CLOSED BANKS Pursuant to provisions of Section 21. Chapter 200, 'Session Laws of 1923, the Depositors Guaranty Fund is now ready to pay a 10 per cent dividend on guaranteed deposits in banks officially closed after September 30 and, before November 16th, 1923: The Driscoll State Bank, Driscoll, is the only bank in Burleigh county included in this list; claims of depositors must be allowed by the receiver before they can be considcred by the Guaranty Fund Commission: Forms and instructions for preparation of claims of depositors against the Guaranty Fund willobe found at every state bank. Bismarek, March 2nd. 1926. Depositors Guaranty Fund Commission 3-3-10
11.March 10, 1926The Bismarck TribuneBismarck, Mandan, ND
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Article Text
NOTICE TO THE DEPOSITORS IN CLOSED BANKS Pursuant to provisions of Section 21. Chapter 200, Session Laws of 1923, the Depositors Guaranty Fund is now ready to pay a 10 per cent dividend on guaranteed deposits in banks officially closed after September 30 and before November 16th. 1923: The Driscoll State Bank, Driscoll, is the only bank in Burleigh county included in this list; claims of depositors must be allowed by the receiver before they ean be considered by the Guaranty Fund Commission: Forms and instructions for preparation of claims of depositors against the Guaranty Fund will be found at every state bank. Bismarek, March 2nd, 1926. Depositors Guaranty Fund Commission 3-3-10
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.
