gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ad49a5be9eee5ba4
Response Measures
Full suspension, Books examined
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1931-01-27
Date receivership terminated
1937-08-24
Share of assets assessed as good
33.9%
Share of assets assessed as doubtful
52.5%
Share of assets assessed as worthless
13.6%
Description
Liquidating agent announced a dividend, indicating permanent closure and liquidation.
Events (5)
1.January 10, 1906Chartered
Source
historical_nic
2.January 22, 1931Run
Cause
Rumor Or Misinformation
Cause Details
Unexpected run on the bank prompted heavy withdrawals; article gives no specific solvency scandal or macro cause.
Measures
Directors placed sign on the door: The bank is temporarily closed for the protection of its depositors.
Newspaper Excerpt
closed its doors today shortly after opening hours due to an run the bank
Source
newspapers
3.January 22, 1931Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank suspended operations immediately after the run; closure described as temporary for protection of depositors.
Newspaper Excerpt
The directors placed sign on the door stating, The bank is temporarily closed for the protection of its depositors.
Source
newspapers
4.January 27, 1931Receivership
Source
historical_nic
5.July 21, 1931Receivership
Newspaper Excerpt
Harry Fagan, liquidating agent of the First National bank here, announced today that he would begin payment ... fifty per cent cash dividend to all creditors of this institution.
CLINTON BANK CLOSES DOORS
Action Taken To Protect DeDirectors Anpositors nounce In Suspending
CLINTON Jan. 22-The First National bank of this city, one of the oldest and strongest banking institutions of the country, closed its doors today shortly after opening hours due to an "run" the bank Following number on the placed sign on the door stating "that the bank was closed for of its depositors. The First bank was ganized years ago. statement December 31, showed deposits with total assets of $533,029.37 bank inspector expected once take the affairs of the bank before any statement can issued Today was the first time that the town Clinton has ever experienced bank closing
2.January 23, 1931The StateColumbia, SC
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Article Text
BANK AT CLINTON CLOSED TO BUSINESS
Special to The State. Clinton, Jan. 22-The First National bank of Clinton, one of the oldest banking institutions of the county, closed its doors today shortly after opening due to an unexpected run on the bank. Following number of withdrawals, the directors placed sign on the door stating, "The bank is temporarily closed for the protection of its depositors.' The First National bank was organized 26 years ago. Its statement of December showed deposits $293,640.03 with total assets of $533.029.37 A bank once take over the affairs of the institution. Today was the first time that the town of Clinton has ever had bank within its limits to close.
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3.July 22, 1931The Greenville NewsGreenville, SC
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Article Text
Clinton Bank To Pay 50 Per Cent
CLINTON, July 21.-Harry Fagan, liquidating agent the National this city today that would begin payment tomorrow cent cash dividend all creditors this Checks for this amount will placed in the hands of other creditors with proved claims as of June This 50 per cent which an large one, comes exactly six months from bank suspended business.
4.July 22, 1931The StateColumbia, SC
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Article Text
CLINTON DEPOSITORS* GET LARGE DIVIDEND
Special to The State. Clinton, July 21.-Harry Fagan, liquidating agent of the First National bank here, announced today that he would begin payment tomor. row of cent. cash dividend to all creditors of this institution. Checks for this amount will be placed in the hands of depositors and other creditors with proved claims as of June This 50 per cent. dividend, which an unusually one, comes
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.
