gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9f6e435953232a8f
Response Measures
None
Description
President later convicted in connection with the bank's 1926 failure, indicating malfeasance.
Events (2)
1.June 1, 1926*Receivership
Newspaper Excerpt
failure of the Frontenac State bank June, 1926. ... conviction ... in connection with the failure of the Frontenac State bank June, 1926.
Source
newspapers
2.June 1, 1926*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended by directors in June 1926; later linked to failure and criminal charges against the president.
Newspaper Excerpt
Frontenac state bank was closed today. ... The bank was suspended by order of the board of directors
Source
newspapers
Newspaper Articles (2)
1.June 4, 1926Council Grove RepublicanCouncil Grove, KS
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Article Text
STATE BASK CLOSES
Topeka June Frontenac state bank was closed today. McGinley, president of the State Bankers Association is cashier of the institution. The bank was suspended by order of the board of diretcors and no reason has been given the banking department yet.
2.December 15, 1928Springfield Leader and PressSpringfield, MO
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Article Text
BANKER IS SENTENCED TO TERM IN PRISON
PITTSBURG. Kan., Dec. former president of the Kansas State Bankers association. today was sentenced to term of three to years in the Kansas penitentiary conviction ment charges in connection with the failure of the Frontenac State bank June, 1926. His attorneys filed notice appeal the Kansas supreme court and McGinley was leased bond,
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.