gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
dbaede30b75a7c63
Response Measures
None
Description
Assignment to D. D. Donovan indicates a receiver; depositors rushed after notice was posted.
Events (3)
1.December 16, 1908Receivership
Newspaper Excerpt
The Citizens' State bank assigned to D. D. Donovan last night.
Source
newspapers
2.December 16, 1908Suspension
Cause
Bank Specific Adverse Info
Cause Details
Overloans/poor loans made by Cashier Groll, especially large loans to the Ohio German Fire Insurance Company which failed.
Newspaper Excerpt
The Citizens' State Bank assigned last night. The failure is said to have been caused by overloans.
Source
newspapers
3.December 17, 1908Run
Cause Details
Depositors rushed to withdraw funds after the assignment/notice of closure was posted.
Newspaper Excerpt
Men cried and women fainted in the streets of Napoleon when they found a notice of assignment posted on the doors of the Citizens' State bank... residents ... drove in to draw money
Source
newspapers
Newspaper Articles (11)
1.December 16, 1908Evening Times-RepublicanMarshalltown, IA
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Article Text
CASHIER TO BLAME. Overloans Cause Failure of Large Bank at Napoleon, O. Napoleon, O., Dec. 16.-The Citizens' State Bank assigned last night. The failure is said to have been caused by overloans. The bank was capitalized at $71,000, and has an undivided surplus of $21,000. The deposits amount to $835,000. It is alleged that Cashier Groll made overloans to the president of the Ohio German Fire Insurance company, which recently failed, without the authority of the other bank officials,
BANK ASSIGNS. NAPOLEON, O., Dec. 16-The citizens State bank assigned last night. The failure is said to have been brought about by the Ohio Gorman Insurance Company's failure. The bank is capitalized at $71,000 and has an undivided surplus of $20.000. The deposits amount to $835,000.
3.December 16, 1908Rock Island ArgusRock Island, IL
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Article Text
Ohio Bank Assigns. Napoleon, Ohio, Dec. 16.-The Citizens' State bank assigned last night. The failure is said to be caused by over loans. The bank is capitalized at $71,000, has an undivided surplus of $21,000 and the deposits amount to $83,000.
4.December 16, 1908Deseret Evening NewsSalt Lake City, UT
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Article Text
OHIO BANK FAILS. Napoleon, Ohio, Dec. 16.-The Citizens state bank assigned to D. D. Donovan last night. The failure is said to have been caused by poor loans and it is also stated that it was brought back by the Ohio German insurance companies failure.
5.December 16, 1908The Topeka State JournalTopeka, KS
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Article Text
OHIO BANK FAILS. Poor Loans Force Citizens' State Bank of Napoleon to the Wall. Napoleon, O., Dec. 16.-The Citizens' State bank assigned to D. D. Donovan last night. The failure is said to have been caused by poor loans and it is also stated that it was brought about by the Ohio German Insurance company's failure.
6.December 17, 1908The Salt Lake HeraldSalt Lake City, UT
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Article Text
FAILURE IN OHIO. Napoleon, O., Dec. 16.-The Citizens' State bank assigned to D. D. Donovan last night. The failure is said to be due to over loans made by Cashier Groll to Judge Michael Donnelly, president of the Ohio German Fire Insurance company, and the assignment is also said to be the direct result of the recent failure of that insurance company. These loans to Donnelly, it is alleged, were made without the authority of the other officials of the bank. The Citizens' bank was considered strong, and as a result of the assignment great excitement prevails in Napoleon. The bank's deposits amount to $835,000.
BANK ASSIGNS. NAPOLEON, O., Dec. 16-The citizens State bank assigned last night. The failure is said to have been brought about by the Ohio Gorman Insurance Company's failure. The bank is capitalized at $71,000 and has an undivided surplus of $20,000. The deposits amount to $835,000.
8.December 17, 1908Ottumwa Tri-Weekly CourierOttumwa, IA
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Article Text
Ohio Bank Assigns. Napoleon. Ohio, Dec. 16.-The Citipens State bank assigned last night. The failure is said to have been causd by overloans. The bank was capitalized at $71,100 and has an undivided surplus of $21,000. The deposits amounted to ;83A000.
9.December 17, 1908Bryan Morning EagleBryan, TX
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Article Text
Partly Due to Overloans. Napoleon, O., Dec. 16.-The Citizens' State bank assigned to D. D. Donovan. The failure is said to have been caused by overloans, and it is further claimed it was brought about by the Ohio German Insurance company's failure.
10.December 17, 1908Los Angeles HeraldLos Angeles, CA
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Article Text
CITIZENS STATE BANK OF NAPOLEON, OHIO, CLOSES NAPOLEON, Ohio, Dec. 16.-The Citizens State bank was assigned to D. D. Donovan last night. The failure is said to have been caused by poor loans and it is also stated that it was brought about by the Ohio German Insurance company's failure. The failure is said to be due to over-loans made by Cashier Groll to Judge Michael Donnelly, president of the Ohio German Fire Insurance company and the assignment is also said to be the direct result of the recent failure of the insurance company. These loans to Donnelly, it is alleged, were made without the authority of the other officials of the bank. The Citizens bank was considered strong, and as a result of the assignment great excitement prevails in Napoleon. The bank's deposits amount to $835,000.
11.December 18, 1908The Winchester NewsWinchester, KY
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Article Text
Napoleon Bank Assigns. Napoleon, O., Dec. 17.-Men cried and women fainted in the streets of Napoleon when they found a notice of assignment posted on the doors of the Citizens' State bank. Dramatic scenes were enacted as the streets rapidly filled with residents of the town and farmers drove in to draw money with which to pay their taxes. D. D. Donovan was named assignee. President Miller of the bank is now confined in a hospital in a Minnesota town. Excessive loans to the Ohio German Fire Insurance company is assigned as the cause of the bank's failure.
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.
