gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f392ff0e60f40476
Response Measures
None
Receivership Details
Depositor recovery rate
58.4%
Date receivership started
1931-10-08
Date receivership terminated
1937-10-27
OCC cause of failure
Governance
Share of assets assessed as good
62.0%
Share of assets assessed as doubtful
34.9%
Share of assets assessed as worthless
3.0%
Description
Closure followed discovery of a cashier's shortage/embezzlement and receiver appointed; no articles describe a depositor run or reopening.
Events (6)
1.February 21, 1906Chartered
Source
historical_nic
2.September 21, 1931Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of an alleged $25,000+ shortage/embezzlement by cashier A. Rogers revealed by examiner's investigation.
Newspaper Excerpt
The bank closed September 21, following reported shortage of $25,000 in the books of Rogers, cashier; deposits $721,000 were reported tied up by the closing.
Source
newspapers
3.October 8, 1931Receivership
Source
historical_nic
4.October 9, 1931Receivership
Newspaper Excerpt
Eckerson ... was appointed receiver late yesterday for the First National Bank of Colville; C. Linden, national bank examiner announced today.
Source
newspapers
5.April 1, 1932Other
Newspaper Excerpt
Bank receiver seeking $25,750 ... instituted action in superior court against the New Amsterdam Casualty company to cover embezzlement by A. Rogers.
Source
newspapers
6.December 13, 1934Other
Newspaper Excerpt
Suit was filed yesterday ... by Thomas Lally, receiver for the First National [Bank] Colville, against Fred Cooney and Edith Cooney on promissory note.
Source
newspapers
Newspaper Articles (4)
1.October 10, 1931Spokane ChronicleSpokane, WA
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Article Text
NAME ECKERSON BANK RECEIVER
Eckerson of Coeur was receiver late yesterday for the First National bank of Colville national bank examiner today Plans for reopening the bank had been informally discussed and until yesterday hopes had held that reorganization could be worked The bank closed September 21. following reported of $25,000 in the books of Rogers cashier Deposits $721 000 were reported tied up by the closing Mr. Eckerson has been serving as receiver of the First National bank He will arrive in Tuesday from Can by. Ore. and take active charge of the bank
2.October 10, 1931Spokane ChronicleSpokane, WA
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Article Text
NAME ECKERSON BANK RECEIVER
Eckerson of Coetir d'Alene was appointed receiver late for the First National bank of Colville C. Linden. national bank examiner announced today Plans for reopening the bank had been informally cussed and until yesterday hopes had been held that reorganization could be out The bank September 21, following reported shortage of $25,000 in the books of Rogers cashier Deposits 000 were reported tied up by the closing Mr. Eckerson has been serving as of the First Exchange Na tional bank He will arrive in Colville Tuesday from Canby. Ore. and take active charge of the bank
3.April 1, 1932Spokane ChronicleSpokane, WA
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Article Text
BANK RECEIVER SEEKING $25,750 of the First National Bank of Colville has instituted action superior court against the New Amsterdam Casually company of New York cover the of A. Rogers is alleged or misappropriated 750 from the First National bank The complaint states that C C. Linden started an examination the bank on September 11, 1931 with result that it was disco that L. Rogers as the bank is alleged. had embezzied and misappropriated to his own use or to some other person not entitled thereto. the sum of $25 750 between March 1928 and September 11. 1931 Mr. Rogers, cashier Henry R. Spedden, vice and Wad- to dell, were under $7500 bond and all other employees under $5000 bond written by the above casualty company. The original bond was issued at premium of 4½ per cent and continuation of the bond each steel year was premium of per cent but each continuation specified that there would exist no liability except for one year Attorneys for the casualty company were granted motion by Judge H. Carey that the receiver make more definite his
4.December 13, 1934The Spokesman-ReviewSpokane, WA
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Article Text
BUSINESS IN SOUTH HUMS
W. G. Perrow Returns From Trip district manager the comhas from the annual meeting Chicago visit the Tennessee Valley project Although the project smaller that the Coulee dam, Mr. Perrow found city similar in size that The humming increased retail sales influx He found south much interthe building the Grand Coulee
Bank Receiver Sues.
Suit was filed yesterday United district court by Thomas Lally, receiver for the First National Colville, against Fred Cooney and Edith Cooney Stecounty $750 promissory complaint recites that the was made and that totaling $135 have been made
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.
