gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
09e796a10b8a7f89
Response Measures
None
Description
Closed by the banking commissioner for forged notes; articles show depositors forced doors afterward. Later status (reopened or permanently closed) not reported here.
Events (3)
1.February 3, 1912Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of nearly $10,000 in forged notes; closure ordered by the banking commissioner
Newspaper Excerpt
the State Savings bank which was closed by the banking commissioner Saturday night
Source
newspapers
2.February 6, 1912Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors demanded funds after discovery of forged notes and closure; crowd forced doors open
Newspaper Excerpt
Angry depositors broke open the doors and demanded that they be paid their money.
Source
newspapers
3.February 8, 1912Other
Newspaper Excerpt
The losing of the State Savings bank at Dowagiac... caused a run on his private bank here yesterday, and it is closed today.
Source
newspapers
Newspaper Articles (2)
1.February 6, 1912The Detroit TimesDetroit, MI
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Article Text
ANGRY DEPOSITORS BREAK OPEN DOORS DOWAGIAC, Mich., Feb. 6.-E. B. Jenney.. principal stockholder and cashier of the State Savings bank which was closed by the banking commissioner Saturday night, said today that forged notes for nearly $10,000, which he says caused the suspension will be made good by the bank and that he hopes to open up again for business within a few days. Angry depositors broke open the doors and demanded that they be paid their money. It was some time before the crowd would be contented with explanations and promises, that they would be paid in full.
2.February 8, 1912The Detroit TimesDetroit, MI
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Article Text
HIRD BANK OWNED BY JENNEY CLOSES DOORS ivate Bank at Sheridan Suspends Business After Run By Depositors SHERIDAN, Mich., Feb. 8.-The losing of the State Savings bank at Dowagiac, of which E. Bert Jenney the cashier and principal stockolder, because of the discovery of forged notes and the consequent closmg of his bank at Lennon. caused a run on his private bank here yesterday, and it is closed today. The depositors made a run on the Institution and were paid as long as the funds held out. Then the doors were closed.
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.
