gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f870d99904a122dc
Response Measures
None
Description
The bank was closed by the state auditor for investigation because it was not operating at a profit; a proposed takeover by the Commercial Bank of Parker failed.
Events (3)
1.February 1, 1915Suspension
Cause
Government Action
Cause Details
Closed by the state auditor for investigation after reports that the institution was not operating at a profit.
Newspaper Excerpt
At the instance of State Auditor Callaghan, the Parker Bank & Trust company has been closed. pending an investigation of its affairs by the state banking department.
Source
newspapers
2.March 13, 1915Receivership
Newspaper Excerpt
W. P. Dunn of Parker, was yesterday appointed receiver for the Parker Bank and Trust company by the superior court of Yuma county.
Source
newspapers
3.February 23, 1916Other
Newspaper Excerpt
The receivership of the defunct Parker Bank & Trust company declared a dividend of 40 per cent, last Wednesday, in favor of the depositors.
Source
newspapers
Newspaper Articles (13)
1.February 2, 1915Arizona RepublicanPhoenix, AZ
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Article Text
"TALK DID IT" SAYS CASHIER Missing Official of Bowie Bank Writes Auditor Callaghan from El Paso -Parker Bank Closed for Investigation. Because the Bowie Band and Trust company was "talked to death" and a run was being made on the institution, Cashier G. J. Armstrong locked the safe, closed the bank building and took the next train to El Paso. These reasons for the sudden closing of the institution were set forth in a letter from Armstrong to State Auditor J. C. Callaghan yesterday. In his letter Armstrong says that the bank was one of the strongest in the state, but that enemies of the institution circulated reports as to its condition. Heavy withdrawals, which practically amounted to a run on Friday, followed. In view of these circumstances, Armstrong said, he felt that the best thing to do was to close the bank and leave town. Armstrong said nothing is his letter as to whether or not he expected to return to Bowie. Deputy State Auditor James B. Ormond and Assistant Attorney General George Harben are at Bowie and are investigating the condition of the bank. While no statement has been issued as yet, Deputy Ormond in 3. telephone message to Auditor Callaghan yesterday said that he thought the depositors were well protected, and that the affairs of the institutien would be adjusted without serious loss. The first intimation that anything was wrong came when the bank failed to open for business Saturday morning. Persons then remembered having seen Armstrong boarding a train at Olga, a small station east of Bowie. There were no state funds on deposit with the institution. but Cochise county is known to have had $2,000 in the bank. At the instance of State Auditor Callaghan, the Parker Bank & Trust company has been closed. pending an investigation of its affairs by the state banking department. According to the statement of the cashier, the institution has not been operating at " profit. Auditor Callaghan sent a man to Parker last night to take charge of the bank until the arrival of H. A. Cheverton, the new state bank CXaminer who will reach the city on
2.March 11, 1915Arizona RepublicanPhoenix, AZ
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Article Text
AFFAIRS OF PARKER BANK MAY BE SETTLED Proposed That Commercial Bank Assume Assets and Liabilities of Trust Company Meets With Favor That the affairs of the Parker Bank and Trust company which recently suspended operations, be taken over by the Commercial bank of that place, and adjusted, is a proposition that is being favorably considered by stockholders of the latter institution. Under the plan proposed, the Commercial bank would assume the assets and liabilities of the other institution, and liquidate the deposits as soon as possible. All the depositors and practically all the stockholders of the bank are said to be in favor of the adjustment proposed. The Commercial Bank of Parker was reorganized last week, M. C. Webb of Phoenix, L. P. Tolladay and W. P. Dunn being added to the directorate. D. J. Peter, the former president. was re-elected, and Dunn who has had long experience in banking in Georgia, was named cashier.
3.March 13, 1915Arizona RepublicanPhoenix, AZ
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Article Text
RECEIVER ASKED FOR PARKER BANK To file application for a receiver for the Parker Bank and Trust company, Attorney General Wiley E. Jones and Assistant George Harben, left for Yuma last night. Formal request that a receiver be appointed for the institution accompanied advices to State Bank Comptroller Callaghan yesterday that the proposal that the affairs be taken over by the Commercial bank at Parker had fallen through and there were no further prospects for adjusting the situation without a receivership. State Bank Examiner Chererton has been in charge at Parker since shortly after the bank suspended payment.
4.March 14, 1915Arizona RepublicanPhoenix, AZ
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Article Text
RECEIVER NAMED FOR PARKER BANK W. P. Dunn of Parker, was yesterday appointed receiver for the Parker Bank and Trust company by the "superior court of Yuma county. Upon Dunn, who is the new cashier of the Commercial bank, will fall the task of settling up the affairs of the institution. Application for a receiver was filed yesterday morning by Assistant Attorney George Harben. The bank's liabilities amount approximately to $6000.
5.March 20, 1915The Parker PostParker, AZ
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Article Text
Finishes Work. State Bank Examiner Cheverton leaves Saturday night for Phoenix, having completed his work here in connection with the failure of the Parker Bank & Trust company. Mr. Cheverton has turned over all of the bank's property to Mr. Dunn, who has been appointed receiver of the institution. During his stay here, Mr. Cheverton has made many friends who regret to see him depart.
6.July 31, 1915The Parker PostParker, AZ
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Article Text
Notice. This is to notify all parties owing the Parker Bank and Trust Company that all amounts due and unpaid by September first will be entered for suit, W. P. DUNN, July 27, 1915. Receiver Parker Bank and Trust Co.
7.August 14, 1915The Parker PostParker, AZ
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Article Text
Notice. This is to notify all parties owing the Parker Bank and Trust Company that all amounts due and unpaid by September first will be entered for suit. July 27, 1915. W. P. DUNN, Receiver Parker Bank and Trust Co.
8.August 21, 1915The Parker PostParker, AZ
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Article Text
Notice. This is to notify all parties owing the Parker Bank and Trust Company that all amounts due and unpaid by September first will be entered for suit. July 27, 1915. W. P. DUNN, Receiver Parker Bank and Trust Co.
9.August 28, 1915The Parker PostParker, AZ
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Article Text
Notice. This is to notify all parties owing the Parker Bank and Trust Company that all amounts due and unpaid by September first will be entered for suit. July 27, 1915. W. P. DUNN, Receiver Parker Bank and Trust Co.
10.September 4, 1915The Parker PostParker, AZ
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Article Text
Notice. This is to notify all parties owing the Parker Bank and Trust Company by that all amounts due and unpaid September first will be entered for suit. July 27, 1915. W. P. DUNN, Receiver Parker Bank and Trust Co.
11.September 11, 1915The Parker PostParker, AZ
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Article Text
Notice. This is to notify all parties owing the Parker Bank and Trust Company that all amounts due and unpaid by September first will be entered for suit. July 27, 1915. W. P. DUNN, Receiver Parker Bank and Trust Co.
12.September 18, 1915The Parker PostParker, AZ
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Article Text
Notice. This is to notify all parties owing the Parker Bank and Trust Company that all amounts due and unpaid by September first will be entered for suit. July 27, 1915. W. P. DUNN, Receiver Parker Bank and Trust Co.
13.February 26, 1916The Parker PostParker, AZ
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Article Text
Pays Dividend. The receivership of the defunct Parker Bank & Trust company declared a dividend of 40 per cent, last Wednesday, in favor of the depositors.
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.
