gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c19543b20a1e9756
Response Measures
Capital injected, Full suspension, Books examined
Receivership Details
Depositor recovery rate
95.9%
Date receivership started
1930-07-07
Date receivership terminated
1937-07-30
Share of assets assessed as good
42.6%
Share of assets assessed as doubtful
45.9%
Share of assets assessed as worthless
11.5%
Description
Closure described as voluntary after a quiet run driven by rumors; receiver appointed and assets later sold.
Events (6)
1.October 6, 1919Chartered
Source
historical_nic
2.July 1, 1930*Run
Cause
Rumor Or Misinformation
Cause Details
Affiliation of bank president with collapsed Hollywood Dry corporation sparked rumors and quiet withdrawals the prior week.
Newspaper Excerpt
rumors that finally led to the quiet run on the bank
Source
newspapers
3.July 7, 1930Receivership
Source
historical_nic
4.July 7, 1930Receivership
Newspaper Excerpt
the receiver had entered into a contract... The petition sets forth that the First National Bank of Fresno suspended operation on July 7 last by virtue of the resolution of its board of directors. (receiver appointed shortly thereafter.)
Source
newspapers
5.July 7, 1930Suspension
Cause
Bank Specific Adverse Info
Cause Details
Board resolution to suspend following quiet withdrawals and internal troubles tied to associations with the Hollywood Dry collapse.
Newspaper Excerpt
The petition states the bank suspended operations July by action its board of directors.
Source
newspapers
6.July 30, 1930Other
Newspaper Excerpt
sale of assets of the suspended First National Bank of Fresno to the Bank of Italy... was approved by the Federal Court today. The sale price was $1,842,962.59.
Source
newspapers
Newspaper Articles (21)
1.July 8, 1930Oakland TribuneOakland, CA
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Article Text
DEFUNCT BANK DEPOSITORS TO BE PAID, CLAIM
Fresno Institution Will Pay Out, Officials Declare.
FRESNO. July 8.-The or more depositors of the First National bank in Fresno will probably receive 100 cents for every dollar they had deposited, although may suffer. That appeared the concensus today of officials and others the $5,000,000 institution's affairs today. The bank closed its doors voluntarily yesterday after quiet withdrawals of deposits last week. W. Chandler, chairman of the bank's board directors, was authority for the statement that the bank was in sound condition. He was quoted as saying the closing resulted fro mno debut solely from situation within the bank itself. D. Harris, chief national bank examiner of the twelfth federal reserve district, is expected to place the Institution in the hands of E. Price, bank examiner, as reIt appeared probable that many of the bank's assets would be bought or more of the other three banks operting here, the Security-First National Bank of Los Angeles, the Bank of Italy and the Bank of America of California. The situation within the bank referred to by Chandler was believed to refer to the recent collapse of the Dry corporation. The bank had only $22,000 claim against the Hollywood Dry corporation but Williams' affiliation with it was recognized as the source of many of the rumors that finally led to quiet run on the bank and finally to its closing
2.July 8, 1930Tulare Advance-RegisterTulare, CA
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Article Text
Dollar For Dollar Return Depositors Probable
Cal., or more depositors of the First National Bank of Fresno probably will receive 100 cents for every dollar they had deposited, although stockholders may suffer. That appeared the concensus today officials and others close the institution's affairs today The bank closed its doors voluntarily yesterday morning after quiet withdrawals deposits last week. Chandler, chairman of the bank's board of authority for the statement that bank sound condition and had been profit-earner. He was quoted the closing resulted from business depression but solely from situation within the bank. itself Harris, chief national bank examiner the 12th Federal Reserve district, expected to place the stitution the hands bank examiner, receiver. OTHERS TO BUY appeared probable that many the bank's assets would bought one or more the other three banks operating the tional Bank Los Angeles, the Bank of Italy and the Bank of America The situation within the bank ferred to by Chandler was believed refer the recent collapse of the Hollywood Dry One the ganizers the beverage company Williams, president the Chandler president the beverfirm and large stockholder The bank had only $22,000 claim against the Hollywood Dry Williams' affiliation with recognized the source of many the rumors that finally to the quiet the bank and finally closing.
3.July 8, 1930Visalia Times-DeltaVisalia, CA
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Article Text
FRESNO BANK PAY FULL, OF
Chandler, Williams of Opinion Depositors Safe
STOCKHOLDERS To HIT
Situation Due To Trouble Within Bank, Not Outside
FRESNO. Calif., July 8. 10,000 or more depositors of the First National Bank in Fresno probably will receive 100 cents for every dollar they had deposited, although stockholders may suffer. That appeared the concensus today of officials others close the $5,000,000 institution's af fairs today. The bank closed its doors volun tarily yesterday morning after quiet withdrawals of deposits last week. W. Chandler, chairman of the bank's board of directors, was authority for the statement that the bank was in sound condition and had been He was quoted as saying the closing resulted from no business depres sion but solely from situation within the bank, itself. D. Harris, chief national bank examiner of the 12th federal reserve district is expected place the institution in the hands E. Price, bank examiner, receiver. It appeared probable that many the bank's assets would be bought by or more of the other three banks operating here, the National Bank Los Angeles, the Bank of Italy and the Bank of America of California. The situation within the bank referred to by Chandler was be lieved to refer to the recent collapse of the Hollywood Dry corporation. One of the organizers of the beverage company was H. Williams, president the bank Chandler was president of beverage company firm and large stockholder in it. The bank had only $22,000 claim against the Hollywood Dry estate, but Williams' affiliation with was recognized as the source of many of the rumors that finally led to the quiet run on the bank and finally its closing.
4.July 8, 1930The Hanford SentinelHanford, CA
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Article Text
DEFUNCT MAY
INSTITUTIONS STOCKHOLDERS LIABLE FOR ASSESSMENTS TO MEET DEMANDS OF DEPOSITORS IN $5,000,000 CONCERN.
Fresno, July 8-(LP)-The 10,000 or more depositors of the First National Bank in Fresno probably will receive 100 cents for every dollar they had deposited, although stockholders may suffer. That appeared the concensus of opinion today of officials and others close to the $5,000,000 institution's affairs. The bank closed its doors voluntarily yesterday morning after quiet withdrawals of deposits last week. W. F. Chandler, chairman of the bank's board of directors, was authority for the statement that the bank was in sound condition and had been profit-earner. He was quoted as saying the closing resulted from no business depression but solely from a situation within the bank. itself. Harris, chief national bank examiner of the 12th federal reserve district, is expected to place the institution in the hands of A. E. Price, bank as receiver. It appeared probable that many of the bank's assets would be bought by one or more of the other banks operating here, the Security-First National Bank of Los Angeles, the Bank of Italy and the Bank of America of California. The situation within the bank referred to by Chandler was believed to refer to the recent collapse of the Hollywood Dry Corporation. One of the organizers of the Beverage company, was H. A. Williams, president of the bank. Chandler was president of the beverage firm and large stockholder in it. The bank had only $22,000 claim against the Hollywood Dry estate, but Williams' affiliation with it was recognized as the source of many of the rumors that finally led to the quiet run on the bank and finally to its closing.
5.July 8, 1930The Sacramento BeeSacramento, CA
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Article Text
Depositors Expected To Get Money In Fresno National Bank Closing FRESNO, July (UP) The 10,000 or more depositors of the First National Bank in Fresno probably will receive 100 cents for every dollar they had deposited although stockholders may suffer That appeared the opinion to-day of officials and others close to the $5,000,000 institution's affairs to day. The bank closed its doors voluntarily yesterday morning after quiet withdrawals of deposits last week W. F. Chandler, chairman of the bank's board of diretcors, was authority for the statement that the bank was in sound condition and had been profit-earner. He was
6.July 8, 1930The Sacramento BeeSacramento, CA
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Article Text
quoted as saying the closing result ed from no business depression, but solely from a situation within the bank itself.
RECEIVER NAMED Bureau E. Price, national bank examiner in charge of the defunct First National Bank of
Fresno, to-day was appointed receiver of the institution by the federal comptroller of the currency, W. Pole Chief Bank Examiner I E. Harris revealed several other banks are negotiating to purchase the bulk of the First National's assets at face value
7.July 8, 1930Redlands Daily FactsRedlands, CA
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Article Text
FULL WILL BE DEPOSITORS
Fresno Institution Declared Solvent, but Rumors Have Caused Runs
July 000 or more depositors of the First National Bank of Fresno probably will receive 100 cents for every dollar they had although stockholders may suffer. That appeared the concensus today of officials and others close the $5,000,000 institution's af fairs today. The bank closed its doors voluntarily yesterday after quiet withdrawals of deposits last week. Chandler, chairman the bank's board of directors, was authority for the statement that the bank was in sound condition. He was quoted saying the closing resulted from no business depression but solely from situation within the bank itself. T. Harris, chief national bank examiner of the 12th federal reserve district, is expected to place the institution in the hands of E. Price, bank exas receiver. appeared probable that many of the bank's assets would be bought by or more the other three banks operating here, the National of Los Angeles, the Bank of Italy and the Bank of America of CaliforThe situation within the bank referred to by Chandler believed refer the recent collapse of the Dry Corporation. One the organizers of the company was H. Williams, president the bank. Chandler president of the beverage firm and large stock holder The bank had only $22,000 claim against the Dry Corporation but Williams' affiliation with was recognized the source of many the that rumors finally led to the quiet run on the bank and finally to its closing.
8.July 8, 1930Riverside Daily PressRiverside, CA
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Article Text
DRINK COLLAPSE
Head of Institution Also President of BevFirm erage
FRESNO. July or more of the First National bank in Fresno probably cents for every dollar they had deposited, although may suffer. That appeared the consensus today officials and others close to institution's affairs. bank closed its doors voluntarily yesterday after quiet withdrawals deposits last week. Chandler, chairman of the bank's board of directors, was thority for the statement that the bank was in sound condition. He quoted saying the closing resulted from business depression solely from situation within bank itself national bank examiner of the 12th Federal Redistrict, expected to place the institution the hands of Price, receiver. Sell that many bank's assets be bought by the three operating here, the SecurityFirst Angeles, the Bank Italy and the Bank of The within the bank ferred to by Chandler believed refer to the recent collapse of Dry corporation. One of the the beverWilliams, the Chandler beverage only claim against the Dry affiliation recogized the source finally led quiet run the bank finally to its closing.
9.July 9, 1930Porterville RecorderPorterville, CA
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Article Text
FRESNO BANK PLANS TO PAY DEPOSITORS
FRESNO. July The 10,000 or more depositors of the First National bank in Fresno probably will receive 100 cents for every dollar they had deposited. although stockholders may suffer. That appeared the concensus today of officials and others close to the $5000.000 institution's affairs. W. F. Chandler, chairman of the bank's board of diréctors. was au thority for the statement that the bank was in sound condition and had been a profit earner. He was quoted as saying the closing resulted from no business depression but solely from situation within the bank. itself. T. D. Harris. chief national bank examiner of the 12th federal reserve district today placed the instintion in the hands of A. F. Prfee. bank ex aminer. as receiver. It appeared probable that many of the bank's would be bought by one or more of the other three banks operating here. the Security First Na tional Bank of Los Angeles. the Bank of Italy and the Bank of America of California. The situation within the bank referred to by Chandler was believed to refer to the recent collapse of the Hollywood Dry corporation. One of the organizers of the beverage company was H. A. Williams. president of the bank. Chandler was president of the beverage company firm and a large stockholder in it. The bank had only a $22,000 claim against the Hollywood Dry estate. but Williams affiliation with it was recognized as the source of many of the rumors that finally led to the quiet run on the bank and finally to its closing.
10.July 30, 1930Imperial Valley PressEl Centro, CA
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Article Text
FRESNO BANK IS TAKEN OVER BY BANK OF ITALY LOS ANGELES, July 29. (U.P.)An order approving the sale of assets of the suspended First Nation al Bank of Fresno to the Bank of Italy National Trust and Savings Association of San Francisco was signed today by Federal Judge Wil. liam P. James. The order contained Judge James' approval on the petition of A. E. Price, receiver for the defunet bank. The sale price was $1,842, 962.59. In the petition of the receiver. Price declared that it was his intention to pay an immediate dividend of 70 percent to the creditors of the Fresno bank in event the court approved of the contract and the delivery of the purchased assets. The petition sets forth that the First National Bank of Fresno suspended operation on July 7 last by virtue of the resolution of its board of directors and that the receiver had entered into a contract with the Bank of Italy whereby the latter agreed to purchase for cash, "bill receivable, of and at a face value of $1,112,220.19 with adjustment of interest to date of delivery, and 'quick assets' of an estimated current market value of $730,742.40, with adjustment of interest and premium to date of delivery, constituting a total of $1,842,962.59."
11.July 30, 1930Press-TelegramLong Beach, CA
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Assets of Fresno Bank Are Sold to Trust Association
LOS ANGELES, July Sale of the masets of the suspended First National Bank of Fresno to the Bank of Italy National Trust Savings Association of San Francisco for was proved by the Court today. The peticreditors the bank dividend of per cent after the court the sale. The petition the bank by tion of contract had made the cash at face with adjustment of to date 'quick an market value with adjustment of premium to date constituting total
12.July 31, 1930The San Francisco ExaminerSan Francisco, CA
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BANK OF FRESNO DEAL APPROVED
Federal Court Sanctions Purchase of Suspended Institution for Price of $1,842,962
LOS ANGELES, July Sale the assets of the suspended First National Bank of Fresno the Bank of Italy National Trust and Savings of San Francisco, for $1,842,962, was approved the Federal Court today. The court's approval was petitioned by Price, receiver the defunct bank. he formed Judge William James was intended to pay creditors the bank dividend of 70 per cent immediately after the court proved the The petition stated the bank suspended operations July by action its board of directors. The ceiver reported contract had been made with the purchaser to take for cash of and face value of $1,112,220 with of to date delivery, and "quick market value of with adjustment of interest and premium to date delivery, constituting total of $1,842,962."
13.July 31, 1930The Fresno Morning RepublicanFresno, CA
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BANK OF ITALY, FIRST DEAL APPROVED
Part Of Assets Taken Over On $1,842,962 Purchase 70 Per Cent Payment Depositors Is Made Available of portion of the assets of the First National Bank in Fresno for $1,842,962 to the Bank of Italy National Trust and Savings asso. ciation approved by the federal court in Los Angeles yesterday, according to Associated Press dispatches. the time G. L. Swendsen. chief engineer for the Fresno Irrigation district. announced that the district yesterday received check for 47 from the Aetna Cas. ualty and Surety through Speed R. Leas the full amount of the district's deposits in the defunct bank under the deposi. tary bond carried by the district Under payment, the bonding company take over the district's claim against the bank, Swendsen stated added that the district carries depositary bonds
70 PER CENT PAYMENT sale the Bank of will permit A. an ate of 70 per cent of positors' against the bank Payments be made the Bank Italy as soon proof of claims has been filed and receiver's cerThe to the federal court stated the bank suspended opera July by of its board of The reported contract had made with purchaser to take for cash receivable face of 112 adjustment of terest to of delivery quick of an estimated market
14.August 23, 1930The Fresno BeeFresno, CA
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Bank Receiver To Sell $29,000 Note For $15,000
Superior Judge Church granted the tition of H. receiver the defunct First National Bank in Fresno, to $29,000 for $15,000 The which dated 18th 1929, was given by the Company bears terest at the rate of per cent offered $15,000 cash for the note and Schilling that that sum
15.December 23, 1930The Fresno Morning RepublicanFresno, CA
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Bank Receiver Sues Stockholders For $2,000 for the First National Bank Fresno filed suit for against Gladys Bush the in Angeles last Saturday, it was learned and property attachment has already according Samuel Hollins, Schilling's attor-
16.April 29, 1931The Hanford SentinelHanford, CA
Article Text
Fresno, April agement the cause the closing of the First National Bank in Fresno, institution that shut doors last July testimony in court yesterday cated.
As early February 17, office of the national banks suggested change in management and warned against the frozen condition of the bank's sets, The ing particularly emphasized the visability of collecting loans made to bank officers and stockholders, it shown. The disclosures were made suit by Receiver Schilling collect $2000 from Williams, who was president and was paid them for crops on property Mrs. Williams nearly two months before the bank closed. Paul McCormick ruled Williams fraud in the that the money should the partial liquidation judgment against the based liability. trial general investigation of bank's affairs. revealed that the Bank two months the had offered $155 for the $100 value stock the bank. The the bank that eventually closing developed sessment stock meeting,
17.April 30, 1931Enterprise-RecordChico, CA
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EXECUTIVE
FRESNO, April management the the closing of the First National Bank in Fresno, $3,500,000 institution that closed its doors last testimony federal court yesterday indicated. As early as February 17, the office of the controller of ional banks a change and warned against the frozen condition of the bank's testimony showed. warning particularly the of made to bank officers and stockholders, it was shown. The disclosures were made in suit by Receiver H. Shilling collect $2,000 from H. Williams, of the bank, his wife. The money was paid for crops on ranch turned over by Williams to Mrs. Williams nearly two months before the closed. Federal Judge Paul McCormick ruled Williams had perpetrated fraud in transaction. but that the money should the ceiver in partial liquidation previous judgment against banker based on stockholder's bility. The trial yesterday developed general investigation of bank's affairs. It revealed that Bank of America two months fore the closure had offered for the $100 par value stock the bank. run on the that eventually caused its closing developed after an assessment stock considered at meeting was testified.
18.May 12, 1931The Los Angeles TimesLos Angeles, CA
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H. F. Schilling Bank Receiver
TERRA BELLA. May 11.-H. F. Schilling has been appointed receiver for the First National Bank of Terra Bella. which failed to open its doors for business the 4th inst. Schilling who also receiver for the First National Bank of Fresno. has taken charge of the local institution Asked for statement, he said he had nothing for publication with reference to the condition of the bank or what depositors might expect. as he had just started to familiarize himself with the However, he did authorize the interesting statement that in cases in which the demands of borrower and depositor are strictly mutual. the deposit would serve as a credit on the loan.
19.August 20, 1931The Fresno BeeFresno, CA
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H. Schilling, federal bank ceiver for the comptroller of the currency, who has been in charge the of the First National Bank In Fresno for the past year, to-day was appointed receiver for the United States National Bank of Los Angeles, which closed its doors Tuesday. The bank, which had deposits seven branches Los Angeles, was said have got difficulties through the recent failure of the Harold Ferguson assets no formal statebe complete examination of the bank's has been Schilling came Fresno year from Ore., to liquidate First National closed 7th. He recently the defunct First Bank Terra and the First National Bank of H. Thomsen, assistant remain in charge the local pending the of successor
20.September 26, 1931The Fresno BeeFresno, CA
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Hilliard Appointed Fresno Bank Receiver
Appointment of H. P Hilliard of Merced as receiver for the First National Bank in Fresno, succeed ing H. F. who recently was named receiver of the defunct Los Angeles was announced in Washington by federal comptroller of the curHilliard also will act as receiver for the First National Bank of Tranquillity and the First National Bank of Terra
21.November 4, 1931The Fresno Morning RepublicanFresno, CA
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Bank Receiver Will Sell 3 Bands Of Sheep At Saturday Auction H. P. Hilliard, receiver for the First National Bank in Fresno, will sell three bands of sheep at public auction November under mortgage orders, It was anhounced at his office Receipts from the sales will NO into the assets of the bank One band, on the Giffen ranch, mile and half south of Planada. will be sold at 10 o'clock Saturday morning. A second band, located on the ranch nine miles southeast of Chowchilla and con. sisting of approximately 1,000 head, will be sold there at 11:30 a. m. The third band of 1,500 ewes, will be sold at the Photopolous ranch at Ripperdan and nues in Madera county at p. m
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.
