gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f623779f29da4876
Response Measures
None
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1895-04-01
Date receivership terminated
1896-12-18
OCC cause of failure
Fraud
Share of assets assessed as good
20.2%
Share of assets assessed as doubtful
10.4%
Share of assets assessed as worthless
69.4%
Description
Receiver appointed from out of state; bank placed in receivership and later paid dividends under the receiver.
Events (5)
1.October 26, 1883Chartered
Source
historical_nic
2.March 7, 1895Suspension
Cause
Government Action
Cause Details
Comptroller ordered closure because the capital stock was impaired and stockholders failed to make it good.
Newspaper Excerpt
The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank of Texarkana, Texas... The stock, however, had become impaired and on the failure of the stockholders to make good, the order to suspend was given.
Source
newspapers
3.April 1, 1895Receivership
Source
historical_nic
4.April 1, 1895Receivership
Newspaper Excerpt
Dispatches to-day announce that Thomas M. Thoruton... has been appointed as receiver of the First National Bank, of this city.
Source
newspapers
5.April 23, 1895Other
Newspaper Excerpt
The First National Bank doors were opened today for the first time since Mr. Andrews closed it on the 6th of April. The receiver, Mr. Thornton had many callers...
Source
newspapers
Newspaper Articles (20)
1.March 8, 1895The Wichita Daily EagleWichita, KS
Click image to open full size in new tab
Article Text
From the National Capital. Washington. March 7.-The comptroller of the currency has issued a call for the reports on the condition of National banks at the close of business, Tuesday, March 5, 1895. Washington, March 7.-The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank of Texarkana. Texas. The capital stock of the bank is $50,000 and the liabilities are $40,000. The stock, however, has become impaired and on the failure of the stockholders to make it good, the order to suspend was given. Washington, March 7.-Nothing is known here in regard to the Simmons or Sawyer, who was arrested at Pueblo, Colo., and claimed to be an agent for the treasury department. J. J. Clark, of the supervising architect's office, was in Pueb10 three weeks ago but has now returned to the east and was in this city today. No other treasury agent has been in that locality recently.
2.March 8, 1895The Seattle Post-IntelligencerSeattle, WA
Click image to open full size in new tab
Article Text
Business Troubles, Washington City, March 1.-The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank of Texarkana, Texas. The capital stock of the bank is $50,000 and the liabilities are $40,000. The stock. however, had become impaired and on the failure of the stockholders to make good, the order to suspend was given.
3.March 8, 1895Fort Worth GazetteFort Worth, TX
Click image to open full size in new tab
Article Text
To Close a Bank. Washington, March 7.-The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank of Texarkana, Tex. The capital stock of the bank is $50,000 and the liabilities are said to be about $40,000. The stock, however, has not been impaired and on the failure of the directors to make it good the order to suspend was given.
4.March 8, 1895The San Francisco CallSan Francisco, CA
Click image to open full size in new tab
Article Text
To Close a Texas Bank. WASHINGTON, March 7.-The Comptroller of the Currency has ordered Bank Examiner Johnson to close up the First National Bank of Texarkana, Tex. The capital stock of the bank is $50,000 and the liabilities are $40,000. The stock, however, had become impaired and on the failure of the stockholders to make good the order to suspend was given.
5.March 8, 1895The HeraldLos Angeles, CA
Click image to open full size in new tab
Article Text
Another Bank to Close Washington, March 7.-The Comptroller of the Currency has ordered Bank Examiner Johnson to close up the First National Bank of Texarkaka, Texas. The capital stock of the bank is $50,000, and the liabilities are $40,000. The stock, however, had become impaired, and on the failure of the stockholders to make good, the order to suspend was given.
6.March 8, 1895Evening StarWashington, DC
Click image to open full size in new tab
Article Text
Close Up R National Bank. The controller of the currency has ordered Bank Examiner Johnson to close up the First National Bank of Texarkana, Texas. The capital stock of the bank is $50,000, and the liabilities are said to be about $40,000. The stock, however, had become impaired, and on the failure of the stockholders to make it good the order to suspend was given.
7.March 8, 1895St. Paul Daily GlobeSaint Paul, MN
Click image to open full size in new tab
Article Text
; Closed a Texas Bank. elit WASHINGTON, March 7.-The comptroller of the currency has or dered Bank Examiner Johnson to close up the First National Bank of Texarkana, Tex. The capital stock of the bank is $50,000, and the liabilities are said to be about $40,000. The stock, however, had become impaired, and, on the failure of the stockholders to make it good, the order to suspend was given.
8.March 8, 1895The Salt Lake HeraldSalt Lake City, UT
Click image to open full size in new tab
Article Text
TO CLOSE A BANK. Washington, March 7.-The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank, of Texarkana, Tex. The capital stock of the bank is $50,000 and the liabilities are $40,000. The stock, however, had become impaired. and on the failure of the stockholders to make it good the order to suspend was given.
Bank Ordered Closed. WASHINGTON, March 7.-The comptroller of the currency has ordered Bank Examiner Johnson to close up the First National bank of Texarkana, of Texas. The capital stock of the bank is $50,000 and the liabilities are $40,000. The stock, however, had become impaired and on the failure of the stockholders to make it good, the order to suspend was given.
10.March 31, 1895The Daily TexarkanianTexarkana, AR
Click image to open full size in new tab
Article Text
Bank Depositors Meet. This morning at 10 o'clock, depositors in the First National Bank, recently closed, met at the office of attorney W. H. Arnold, and recommended Mr. A. M. Garrison as Receiver to wind up the affairs of the bank. Notwithstanding, he stated he could not serve if recommended, Mr. Arnold received a large vote for the position as Receiver. In the meeting Mr. Joe Burlingaime acted as chairman and S. S. Solinsky as secretary. If the government will act upon the recommendation of the deposi tors, and appoint Mr. Garrison, he will fill the place as Receiver with credit to himself and to the satisfaction of all concerned, we believe. He is a good business man, possessing the confidence of the community,
11.April 2, 1895The Daily TexarkanianTexarkana, AR
Click image to open full size in new tab
Article Text
Dispatches to-day announce that Thomas M. Thoruton, of Shelbyville, Illinois, has been appointed as receiver of the First National Bank, of this city. On account of a split among home people, appointment was made from another state.
12.April 23, 1895The Daily TexarkanianTexarkana, AR
Click image to open full size in new tab
Article Text
The First National Bank doors were opened today for the first time since Mr. Andrews closed it on the 6th of April. The receiver, Mr. Thornton had many callers, but as he has just taken charge it is not reasonable to expect him to pay off any claims until he makes a clear inventory and see what can be realized out of the many dollars worth of paper now in bank. The reporter called to see him, but he looked like he had his hands full answering depositors all kind of questions and the scribe knew he did not want to be bothered further. We will however try and get an interview, and publish any matter that he may give out that will throw light on how and when depositors may expect to get their money, or part of it.
13.June 16, 1895The Daily TexarkanianTexarkana, AR
Click image to open full size in new tab
Article Text
Col. Thornton, receiver of the First National bank, of this city, was called to Dallas, Texas, yesterday.
14.July 11, 1895The Daily TexarkanianTexarkana, AR
Click image to open full size in new tab
Article Text
Receiver Thornton, of the First National Bank, has been putting in some good work, collecting up its paper. The Comptroller of currency has notified him that a dividend of 30 percent has been declared on all approved claims against the bank, which will be paid as soon as the schedule and checks can be filled out and forwarded to Washington for the signature of the Comptroller. Thus the depositors and creditors of this bank are being paid their money. It is not yet known whether or not all claims will be paid off in full. Few such banks pay up over half or two thirds of the liabilities.
UN-"SOUND MONEY" MEN. I These Are the Men Who Have Been Clamoring for "Sound, Honest Money" The bank at Norborne, Ohio, and the Carrolton county bank, are both in the hands of receivers. Depositors have begun criminal pro. ceedings against the Merchants National bank, unsound, at Seattle, Washington. L T. Parrish, cashier of the bankst Orrick, Mo, has gone, and $20,000 cold, hard, clammy dollars left the same day. C. D. Davies, manager, of the bank at East Peru, Iowa, has escaped with $28,000 belonging to depositors. The bank du People, at Montreal. Canada, has closed its doors. On July 5th it reported $6,520,869 deposits, and it is believed that this has all been stolen. An Ioway banker escaped with $28,000 a few days ago. He carried the money in a valise. This amount in silver would weigh something like 1,600 pounds, hence you can readily see that such money don't suit bankers No wonder they claim it is not good abroad. But it is good at home. S B Andrews, cashier of the defunct First National bank, Texarkana, Texas, is under a bond of $10,000 for making false returns to the comptroller of the Treasury of the United States.
A $15,000 Judgment. Little Rock, Ark., Nov. 14.-Thomas M. Thornton, receiver of the First National bank of Texarkana, Ark., secured in the federal court this morning a judgment against J. H. Draughon for $16,357.45 on promissory notes and verified accounts.
17.January 1, 1896The Daily TexarkanianTexarkana, AR
Click image to open full size in new tab
Article Text
Col. Thornton, receiver of the 1st National Bank of this place, has received notice from the Comptroller of currency at Washington that he could declare another dividend of 30 per cent. to depositors. This will make 60 per cent. the depositors will have thus far.received, and Col. Thornton thinks it will not be long before he will have collected up enough to declare another dividend. A good showing.
declared a dividend of 20 per cent in favor of the creditors of the insolvent First National bank of Texarkana, Texas. The president hold his first tri-weekly reception to the public at the White House today after a suspension of nearly two years. About 200 persons took advantage of the opportunity to shake the prestdont's hand.
19.May 5, 1896The Daily TexarkanianTexarkana, AR
Click image to open full size in new tab
Article Text
Colonel Thomas Thornton, receiver of the First National bank of Texarkana, Texas, has returned from a visit to Dallas.
20.December 22, 1896The Daily TexarkanianTexarkana, AR
Click image to open full size in new tab
Article Text
Col. Thos. Thornton, receiver of the First National bank called up yesterday and said he desired the depositors to call at the bank as he was ready to pay over checks of the last and final dividend of their deposits, which was 121 cents. The Col. deserve great credit for paying the depositors not only in full, but a small interest on their money. There are not many Col. Thorntons in this country, you can bet on that. He has certainly achieved wonders and deserves thanks of all who had money in the concern when it collapsed.
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.
