gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1a1df75c3e1aca31
Response Measures
None
Receivership Details
Date receivership started
1927-03-31
Date receivership terminated
1928-06-30
OCC cause of failure
Losses
Share of assets assessed as good
1.1%
Share of assets assessed as doubtful
26.8%
Share of assets assessed as worthless
72.1%
Description
Articles refer to the bank going out of business in 1923 and ongoing receivership litigation in 1927.
Events (6)
1.March 29, 1865Chartered
Source
historical_nic
2.January 1, 1923*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank went out of business and assets/liabilities were taken over, with later stockholder suits alleging director wrongdoing/deficiencies.
Newspaper Excerpt
The Geneva National bank went out of business in 1923. Assets and liabilities were taken over by the National Bank of Geneva.
Source
newspapers
3.November 20, 1923Voluntary Liquidation
Source
historical_nic
4.March 31, 1927Receivership
Source
historical_nic
5.March 31, 1927Receivership
Newspaper Excerpt
receiver of Geneva ... appointed March 31. Jonas J. Hulse, appointed receiver by the U. S. controller, from administering the affairs of the bank.
Source
newspapers
6.April 26, 1927Other
Newspaper Excerpt
Federal Judge Hazel Monday denied the request of stockholders of the Geneva National bank of Geneva for temporary injunction restraining Jonas J. Hulse ... The stockholders oppose payments of notes of $127,000 held by the National Bank of Geneva.
Source
newspapers
Newspaper Articles (8)
1.April 14, 1927The Buffalo NewsBuffalo, NY
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Article Text
GENEVA BANK WANTS RECEIVER DISMISSED
Stockholders' Suit Filed in U.S. Court Alleges Financial Institution Is Solvent. to the dismissal of receiver of Geneva to for of 48 for against the also the 000 by Geneva was in Federal appointed March 31. that the and the receiver petition reveals that the stockholders brought against directors of charging the caused the their the The $879 48 judg was by the in on March The petition that in the organized National Bank of Geneva the and of the Geneva National bank of the This represented difference between assets and the failed two-thirds the thereby the contract null and
2.April 26, 1927The Buffalo NewsBuffalo, NY
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Article Text
BANK RECEIVER TO STAY
Court Refuses Injunction Sought for Geneva Institution.
Federal Judge Hazel Monday denied the request of of the Geneva National bank of Geneva for temporary injunction restraining Jonas Hulse. appointed received by the U. controller from administering the affairs of the bank No time was set for the trial The Geneva National went out of business Assets and taken over by the National Bank of Geneva In Rochester last month stockholders got judgment of against directors of the Geneva National bank The stockholders oppose payments of notes of $127,000 held by the National Bank of Geneva. the deficiency of assets under the liabilities at the time the bank was taken over
3.April 26, 1927The Buffalo NewsBuffalo, NY
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Article Text
BANK RECEIVER TO STAY
Court Refuses Injunction Sought for Geneva Institution.
Federal Judge Hazel Monday denied the request of stockholders of the Geneva National bank of Geneva for temporary injunction restraining Jonas J. Hulse, appointed received by the U. S. controller. from administering the affairs of the bank. No time was set for the trial The Geneva National bank went out of business in 1923. Assets and liabilities were taken over by the National Bank of Geneva. In Rochester last month stockholders got judgment of $867,000 against directors of the Geneva National bank The stockholders oppose payments of notes of $127,000 held by the National Bank of Geneva, representing the deficiency of assets under the liabilities at the time the bank was taken over.
4.April 26, 1927The Buffalo NewsBuffalo, NY
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Article Text
BANK RECEIVER TO STAY
Court Refuses Injunction Sought for Geneva Institution.
Federal Judge Hazel Monday denied the request of stockholders of the Geneva National bank of Geneva for temporary injunction restraining Jonas J. Hulse, appointed received by the U. S. controller, from administering the affairs of the bank No time was set for the trial The Geneva National bank went out of business in 1923. Assets and liabilities were taken over by the National Bank of Geneva In Rochester last month stockholders got judgment of $867,000 against directors of the Geneva National bank The stockholders oppose payments of notes of $127,000 held by the National Bank of Geneva, representing the deficiency of assets under the liabilities at the time the bank was taken over.
5.April 26, 1927The Buffalo NewsBuffalo, NY
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Article Text
BANK RECEIVER TO STAY
Court Refuses Injunction Sought for Geneva Institution.
Federal Judge Hazel Monday denied the request of stockholders of the Geneva National bank of Geneva for temporary injunction restraining Jonas J. Hulse, appointed received by the U. controller. from administering the affairs of the bank. No time was set for the trial. The Geneva National bank went out of business in 1923 Assets and liabilities were taken over by the National Bank of Geneva In Rochester last month stockholders got Judgment of $867,000 against directors of the Geneva National bank The stockholders oppose of notes of $127,000 held by the National Bank of Geneva, representing the deficiency of assets under the liabilities at the time the bank was taken over.
6.April 26, 1927The Buffalo NewsBuffalo, NY
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Article Text
BANK RECEIVER TO STAY
Court Refuses Injunction Sought for Geneva Institution.
Federal Judge Hazel Monday denied the request of stockholders of the Geneva National bank of Geneva for temporary injunction restraining Jonas J. Hulse, appointed received by the U. controller, from administering the affairs of the bank. No time was set for the trial The Geneva National bank went out of business in 1923 Assets and liabilis ties taken over by the National Bank of Geneva In Rochester last month stockholders got judgment of $867,000 against directors of the Geneva National bank The oppose payments of notes of $127,000 held by the National Bank of Geneva. representing the deficiency of assets under the liabilities at the time the bank was taken over.
7.April 27, 1927The Buffalo NewsBuffalo, NY
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Article Text
BANK RECEIVER TO STAY
Court Refuses Injunction Sought for Geneva Institution
Federal Judge Hazel Monday nied the request of stockholders of Geneva National bank of Geneva for temporary injunction restraining Jonas Hulse appointed received by U. controller from administerIng the affairs of the bank. No time was set for the trial The Geneva National bank went out of business in 1923 Assets and liabilities taken over by the National Bank of Geneva Rochester last month got judgment of $867 000 against directors of the Geneva National bank The stockholders oppose payments of notes of $127,000 held by the National Bank of Geneva representing the deficiency of assets under the liabilities at the time bank was taken over.
8.May 14, 1927Finger Lakes TimesGeneva, NY
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Article Text
National Bank Receiver Would Become Defendant in Suit Over Contract
May added the many complicated phases of the Geneva National Bank this morning when Supreme Court Justice Thompson, special term, held heard motion attorneys representing Jonas M. Hulse, of the Geneva National Bank, to make Hulse par defendant the suit brought stockholders bank the National Bank to aside contract by which the latter Institution over iness bank. The scheduled on trial special term presided Court Justice Rodenbeck June 14th. Judge Thompson, after hearing the Hulse motion this morning, referred the matter denbeck and latter will hear arguments the be fixed by himself. Another phase the bank brought attention this morning with the that AppelDivision, Fourth Department, had granted further the service body executions on the defendants bank order restrainsuch executions Sheriff Bolles members his period of thirty days issued over month The Appellate Division, was said today, granted further until September 1st. attorneys for the have made known they intend the decision Appellate the Court Appeals. The appeal, said, would probably month. Other phases the case clude suit aside of the neva National Bank the ground that secure1 the purpose hampering plaintiffs collecting judgments against defendant directors junction proceedings against Sheriff Bolles by attorney of the defendants who filed bankruptcy petitions in United States District Court at Buffalo. These orders restrain sheriff from selling assets of the two defendants of the bankruptproceedings.
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.
