gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c2f8d68b3284fc7d
Response Measures
Accommodated withdrawals, Public signal of financial health
Receivership Details
Depositor recovery rate
23.6%
Date receivership started
1931-01-22
Date receivership terminated
1938-06-30
OCC cause of failure
Losses
Share of assets assessed as good
9.2%
Share of assets assessed as doubtful
36.1%
Share of assets assessed as worthless
54.7%
Description
Run in Feb 1930 was quelled by an advertisement; bank later suspended (since June 1930) and placed in federal receivership Jan 1931.
Events (6)
1.December 11, 1877Chartered
Source
historical_nic
2.February 7, 1930Run
Cause
Rumor Or Misinformation
Cause Details
Unconfirmed rumors/poison conversation in the community triggered heavy withdrawals.
Measures
Large newspaper advertisement assuring depositors all would be accommodated; bank stayed open extra hours to serve patrons.
Newspaper Excerpt
Heavy withdrawals, said to have been caused by poison conversation ... fullfledged run on the bank by Friday.
Source
newspapers
3.June 1, 1930*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank discontinued operations in June (1930) and was later put into receivership, implying solvency/asset problems.
Newspaper Excerpt
Federal Receiver Appointed for Kokomo Firm, Suspended Since June.
Source
newspapers
4.July 15, 1930Voluntary Liquidation
Source
historical_nic
5.January 22, 1931Receivership
Source
historical_nic
6.January 22, 1931Receivership
Newspaper Excerpt
Federal Receiver Appointed for Kokomo Firm ... Don P. Strode, as receiver Howard National bank ... Don P. Strode, as receiver Howard National bank, Kokomo, Ind., vs. Edward J. Humpe, $1030; ... Frank W. Bryant, the receiver later referenced in 1933 articles.
Source
newspapers
Newspaper Articles (21)
1.February 10, 1930Muncie Evening PressMuncie, IN
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Article Text
BANK OPEN AFTER RUN
Newspaper "Poison Conversation."
Ind., Feb. Howard National Bank Kokomo today after one the most extraordinary experiences in the history national depository. Heavy withdrawals, said to have been caused by "poison tion" during the week to fullfledged run on the bank by Friday. Public Assured. On Saturday officers the came an adverin telling the populace that there was the and that would be step unique in the history On Friday the bank remained open two hours to accommodate patrons. By Saturday afternoon had appardied down, and when the bank closed its doors been utes since the last patron he man who came to deposit money withdrawn earlier in the day.
2.February 10, 1930The Indianapolis TimesIndianapolis, IN
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ADVERTISEMENT AIDS STOPPING RUN ON BANK
Unique Action at Kokomo Halts Two Days of Withdrawals. Ind., Feb. Howard National bank of Kokomo "open today, after one the most extraordinary experiin the history of national depository. Heavy withdrawals, said to have by "poison during the led fullfledged the bank by Friday. Saturday officers of the an Kokomo regarding the and that all depositors unique in the history of banking. bank open two hours Friday to By afternoon all excitement had ently down, and when the closed its doors twenty minpassed since the last who withdrawn earlier in the ey
3.February 13, 1930Garrett ClipperGarrett, IN
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Article Text
CONVERSATION" STARTS RUN ON BANK
Ind., Feb. Howard National bank of Kokomo "open usual" today one the most extraordinary experiencin the history national depository. Heavy withdrawals, said to have been caused by "poison during the week fullfledged run on the bank by Friday. On Saturday morning officers of bank came with advertisement in Kokomo newspaper telling the populace that there was on institution. and that depositors would be unique in the history On the bank hours overtime accommodate By Saturday afternoon all excitement had apparently down. the closed its doors had been 20 minutes since left and he came to deposit money the
4.March 21, 1930New Castle NewsNew Castle, PA
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Article Text
Advertising Ends Run On Bank
KOKOMO. March 21.-Officials of the Howard National bank here fought n run on the bank recently through the weapon of advertising. a most unusual procedure in banking history. Unconfirmed rumors have caused heavy withdrawals of the deposits when the bank officers decide to submit their case to the public. They contracted for a large advertisement in a local newspaper. boldly proclaiming to the city that there had been run on the bank, and that all depositors would be accommodated. Within a few hours after the bank opened on the day of publication of the advertisement the run was ended. Public confidence had been restored by the frank advertisement
5.March 24, 1930The Galion InquirerGalion, OH
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Article Text
ADVERTISING ENDS RUN ON BANK
KoKoMo, Ind. (INS) -Officials of the Howard National bank here fought a run on the bank recently through the weapon of advertising, most unusual procedure in bank Ing history. aconfirmed rumors have caused heavy withdrawals of deposits when the bank officers decided to submit their case to the public. They contracted for large advertisement in local newspaper. boldly proclaiming to the city that there had been a run on the bank, that all depositors would be Within few hours after the bank opened on the day of publication of the advertisement the run was ended Public confidence had been restored by the frank adver-
6.March 24, 1930Effingham Daily RecordEffingham, IL
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Article Text
ADVERTISING ENDS BANK RUN
Kokomo, Ind., March of the Howard National Bank here fought run on the bank recently through the weapon of advertising, most unusual procedure in banking history. Unconfirmed rumors have caused heavy withdrawals of deposits when the bank officers decided to subhit their case to the public. They contracted for large advertisement in local newspaper, boldly. proclaiming to the city that there had been run on the bank, and that all depositors would be accommodated.
Within few hours after the bank opened on the day of publication of the advertisement the run was ended. Public confidence had been restored by the frank advertisement.
7.March 28, 1930The RegisterSanta Ana, CA
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Article Text
USE ADVERTISING TO END BANK
KoKoMo, Ind., March 28. (INS)-Officials of the Howard National Bank here fought a run on the bank recently through the weapon of advertising, a most unusual procedure in banking history. Unconfirmed rumors had caused heavy withdrawals of deposits when the bank officers decided to submit their case to the public. They contracted for a large advertisement in a local newspaper, boldly proclaiming to the city that there had been a run on the bank, and that all depositors would be accommodated. Within few hours after the bank opened on the day of publication of the advertisement the run was ended. Public confidence had been restored by the frank adver-
8.March 28, 1930The Oakland Post EnquirerOakland, CA
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Article Text
Bank Run Stopped By Advertisement
KoKoMo, Ind., March 28.-Officials of the Howard National bank here fought run on the bank recently through the weapon of advertising. They contracted for a large advertisement in a local newspaper, boldly proclaiming that there had been a run on the bank, and that all depositors would be accommodated. Within a few hours after the bank opened on the day of the publication the run was ended.
9.April 4, 1930The Macon NewsMacon, GA
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Article Text
Bank Run Ended By Advertising
KOKOMO Ind April INS Officials of the Howard National bank here fought run on the bank recently through the weapon of advertising a most unusual procedure in banking history. infirmed rumors have caused heavy withdrawals of deposits when the bank officers decided to submit their case to the public They contracted for large advertisement in local newspaper boldly proclaiming to the city that there had been a run on the bank. and that all depositors would be accommodated. Within few hours after the bank opened on the day of publication of the advertisement the run was ended Public confidence had been restored by the frank adver tisement
10.June 26, 1930Courier-PostCamden, NJ
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Article Text
NEWSPAPER AD STOPS HEAVY RUN ON BANK
Kokomo, Ind 1.-Officials of the Howard National fought run on the bank recently through the weapon of advertising. unusual procedure in banking history. Unconfirmed rumors had caused withdrawal when the bank officers decided to submit their case to the public. In newspaper advertisement they boldly proclaimed that there had run on the bank, and that all depositors would be Within few hours after the bank opened on the day the appeared, the run ended. Public confidence had restored by the frank advertisement.
11.January 26, 1931The Indianapolis StarIndianapolis, IN
Article Text
ACCELERATES
Federal Receiver Appointed for Kokomo Firm, Suspended Since June.
[Special to The Indianapolis Star.] KOKOMO, Ind., Jan. local has been appointed receiver for the Howard National bank here action signed the assets of bank which suspended ago. The apof Mr. Strode was made acting controller currency Mr. Strode received notice of his together with his commission, from controller's office Saturday morning. Since the Howard National bank discontinued last June, liquidation assets of the has been charge George who president of the institution. Mr. turned over Mr. The said, the shareholdthe Howard National bank, being their interests that are partially involved. Depositors Howard National bank, over by the National not affected. Creation cording to report a step taken
12.November 14, 1931The Kokomo TribuneKokomo, IN
Article Text
(Continued from Page bank to become are the new that while subbank's scriptions talization now exceed $100,000, and there that the while remainder will be necessary the committee still hard tained. work on that branch its task. desiring complete soon and thereby expedite the posible institution's opening. Possible Location As yet no announcement been made where bank will have Its home. era! days report in culation that in the event of bank being installed Howard National Bank northwest corner of Main and Walnut streets. That fully equipped banking has been by the room Howard National Company during and half that have the year elapsed since the Howard National operations. The Bank suspended and the greatly space the needs the exceed, course, present tenant. Some color is lent the report that the may be launched home the old the fact that Dan Howard has er the notice on the present tenant the room that stred un reasoned that Receiver It not have taken the Strode would had he not other tenant sight. ural assumption that the the national bank. tenant
13.December 15, 1931The Kokomo TribuneKokomo, IN
Article Text
DEATH SETTLES (Continued from One) have been realthere would loan, ized for the creditors of the Howard National bank only cording to Receiver Strode's computation. In several cases in which life Insurance policies had been assigned to the Howard National to secure loans had made, the receiver settied with the Insurance companies for the cash surrender value of the policies, in preference to the risk of carrying them, and to the end that such assets might be converted into cash as quickly as The case of Mr. Yater is the only one in the receivership in which death has intervened to cause settiement of life insurance policy at the full amount for which it called.
Gets Divorce Tuesday. Vianna Houge obtained divorce from Hal W. Houge in circuit court Tuesday on the ground of cruel and inhuman treatment. She was represented by Attorneys McClure and
14.January 12, 1932The Tampa TribuneTampa, FL
Article Text
Default Judgments
Following are the default judgments awarded yesterday:
J. C. Shelton, as receiver First National Bank of Lakeland, vs. William P. McDonald, $6979; A. W. Doepke, as receiver First National Bank of Avon Park, vs. J. H. Smith, $800; also vs. Avon Park Canning Co., Inc., A. V. Anderson, and others, $3999; Doepke, as receiver Carlton National bank, vs. J. W. Skipper, $2294; also vs. Maud Roberts, $1395; also vs. J. H. Brown, $6692.
J. W. Harwell, as receiver First National Bank of Sanford, vs. H. M. Rumbley, $1010; also vs. E. E. Brady, $1276; also vs. Euphia Finnell, $1028; Federal Reserve bank of Atlanta vs. D. O. Ratliff, $6120; Don P. Strode, as receiver Howard National bank, Kokomo, Ind., vs. Edward J. Humpe, $1030; A. M. Anderson, as receiver Central National bank & Trust company, St. Petersburg, vs. Donovan & Sons, Inc., $1772; also vs. Charles S. Powell, $1841.
15.January 12, 1932The Tampa TribuneTampa, FL
Article Text
Default Judgments
Following are the default judgments awarded yesterday:
J. C. Shelton, as receiver First National Bank of Lakeland, vs. William P. McDonald, $6979; A. W. Doepke, as receiver First National Bank of Avon Park, vs. J. H. Smith, $800; also vs. Avon Park Canning Co., Inc., A. V. Anderson, and others, $3999; Doepke, as receiver Carlton National bank, vs. J. W. Skipper, $2294; also vs. Maud Roberts, $1395; also vs. J. H. Brown, $6692.
J. W. Harwell, as receiver First National Bank of Sanford, vs. H. M. Rumbley, $1010; also vs. E. E. Brady, $1276; also vs. Euphia Finnell, $1028; Federal Reserve bank of Atlanta vs. D. O. Ratliff, $6120; Don P. Strode, as receiver Howard National bank, Kokomo, Ind., vs. Edward J. Humpe, $1030; A. M. Anderson, as receiver Central National bank & Trust company, St. Petersburg, vs. Donovan & Sons, Inc., $1772; also vs. Charles S. Powell, $1841.
16.January 12, 1932The Tampa TribuneTampa, FL
Article Text
J. C. Shelton, as receiver First National Bank of Lakeland, vs. William P. McDonald, $6979; A. W. Doepke, as receiver First National Bank of Avon Park, vs. J. H. Smith, $800; also vs. Avon Park Canning Co., Inc., A. V. Anderson, and others, $3999; Doepke, as receiver Carlton National bank, vs. J. W. Skipper, $2294; also vs. Maud Roberts, $1395; also vs. J. H. Brown, $6692.
J. W. Harwell, as receiver First National Bank of Sanford, vs. H. M. Rumbley, $1010; also vs. E. E. Brady, $1276; also vs. Euphia Finnell, $1028; Federal Reserve bank of Atlanta vs. D. O. Ratliff, $6120; Don P. Strode, as receiver Howard National bank, Kokomo, Ind., vs. Edward J. Humpe, $1030; A. M. Anderson, as receiver Central National bank & Trust company, St. Petersburg, vs. Donovan & Sons, Inc., $1772; also vs. Charles S. Powell, $1841.
17.November 24, 1932The Kokomo TribuneKokomo, IN
Article Text
(Continued from Page One) after the Citizens National Bank had suspended operations and Frank W. Bryant had been appointed receiver of the federal banking department took steps which resulted in the receivership of the Howard also being placed in his hards, and he replaced Strode in charge of the Howard National's affairs. The step was taken, it was said, wholly in the interest of The Henry C, Davis Estate. Inc., retained to defend the action collect the assessment Charles McCabe of Crawfordsville. After as in the case appearing year, McCabe for approximately died. This was last summer. said that Forrest Jump of this city was recently retained by the interests. is reported, too, that George B. Shenk has been gaged to appoar for some of the other Donald Elliott, who represented Strode as receiver, is handling the cases for Bryant, G. Manming. who attorney in general for Bryant, is expected to assist in the trial. summons has been received by Emerson clerk of the ard circuit court, calling upon him to in the United States Disreport trict court Monday with certain records which are expected be introduced as evidence Because of the large amount of money involved and the public character of the institution out of the suspension of which the cases there naturally rather grew, general interest in Kokomo and vicinity to sec what the outcome of the litigation is to be.
18.January 20, 1933The Indianapolis StarIndianapolis, IN
Article Text
Stockholders to Settle Bank Suit Out of Court
Attorneys for stockholders of the Howard National bank of Kokomo yesterday informed Judge Robert C Baltzell of Federal court that stock holders would negotiate settlement out of court with Frank W. Bryant, the receiver. The receiver some time ago brought suit enforce an assessment of 100 per cent on the stockJudge Baltzell instructed attorneys to report to him by Jan. 28 whether had been He indicated that he would erter of judgment against the stockholders on that date event no agreement had been reached Mr. Bryant was the only witness at yesterday hearing He testified concerning records stock owner ship which he found when he took over the bank as receiver. He introduced records to show the of stock valued at $78,300 by the Henry Davis Estate, Inc., and seven other defendants.
19.January 20, 1933The Indianapolis TimesIndianapolis, IN
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Article Text
Bank Suit to Be Settled Suit of Frank W. Bryant, Kokomo, Howard National bank receiver to enforce an assessment of 100 per cent on stockholders, is to be settled out of court, Federal Judge Robert C. Baltzell was notified Thursday by attorneys.
20.July 11, 1933The Kokomo TribuneKokomo, IN
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SAFE
IN HOWARD NATIONAL ONE BUILDING BEING TAKEN TO PERU BANK. began Tuesday to Workmen night safe from the remove Howard National Bank taking Peru preparatory to the building of for Wabash Valley Trust company the there. of the Howard The night safe installed several years basement the building. leads from the Walnut chute street front the the This convenience of persons and firms wishing deposit collections after banking hours. One could In Walnut the opening special kind of containing his deposit therein. and would slide down into the night safe, where reposed the bank's opening for awaiting the following morning. The Wabash Valley Trust Company of Peru recently decided such device its buildabout, discovered casting that the Howard National's night safe and accompanying fixtures would flt the Peru Institution perfectly. accordingly opened gotiations with Bryant, receiver the Howard National, purchased the device. This the first that has been made from safety equipment the Howard National building. The main vault and safe and safety deposit vault just they were when the bank suspended operations little than three years ago. The Howard's night the first device the kind installed bank Kokomo.
21.October 17, 1935The Kokomo TribuneKokomo, IN
Article Text
Neither Confirms Nor Denies Story—Politics Said to Figure in Situation.
That a change is to be made within the next few days in attorneys for the receiver of the Citizens National and Howard National banks of Kokomo and the Russiaville National of Russiaville is a report current in local business circles.
It is said that Arthur G. Manning is to retire as attorney for the receiver of the Citizens National and be succeeded by Forest E. Jump, and that Donald F. Elliott is to withdraw at attorney for the receiver of the Howard National and Russiaville National and be succeeded by John Marshall.
Verification of the report such changes are about to be made could not be obtained by a Tribune reporter who called on James W. Carpenter, receiver of all three banks, at his offices in the Howard bank building Thursday.
Carpenter Is Reticent
Mr. Carpenter neither affirmed nor denied. He said he lacked authority to issue any public statement on the subject, indicating that any verification or denial at this time would have to come from Washington, D. C., from the office of the comptroller of the currency.
The reporter respected Mr. Carpenter's reticence, of course, but gathered from a remark which the receiver dropped incidentally that something of the sort mentioned is not only "on the fire" but is about ready to be taken off and dished out.
Mr. Carpenter suggested that the story be withheld until the fore part of next week. When the reporter told him the story was already in possession of a good many people in Kokomo, he smiled and said, "Well I cannot prevent surmises. I can only say I am not in a position at this time to make any statement for publication on the subject."
Regarding Recommendations
So much for Mr. Carpenter. He felt he lacked authority to divulge anything that may be doing, at this time, and no one can reasonably complain of his attitude. He is acting under orders and it is commendable that he is disposed to follow them implicitly. The practice
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.
