gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5fcb007b3aec2c31
Response Measures
None
Receivership Details
Depositor recovery rate
81.0%
Date receivership started
1879-07-23
Date receivership terminated
1887-08-06
OCC cause of failure
Losses
Share of assets assessed as good
6.9%
Share of assets assessed as doubtful
74.0%
Share of assets assessed as worthless
19.1%
Description
Closed by Bank Examiner Young for impaired capital/reserve; Comptroller notices and receiver appointments follow.
Events (4)
1.March 11, 1864Chartered
Source
historical_nic
2.July 18, 1879Suspension
Cause
Government Action
Cause Details
Closed by Bank Examiner Young after finding capital stock and reserve fund impaired
Newspaper Excerpt
the First National bank of Butler was closed by Bank Examiner Young, who reports that the funds, capital and reserve, are impaired
Source
newspapers
3.July 23, 1879Receivership
Source
historical_nic
4.July 23, 1879Receivership
Newspaper Excerpt
the bank will go into the hands of a receiver; Notice is hereby given ... to present claims to Henry B. Cullum, Receiver, at Butler, Pa., Aug. 5, 1879 (Comptroller notice).
Source
newspapers
Newspaper Articles (11)
1.July 19, 1879Daily GlobeSaint Paul, MN
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Article Text
National Bank in Trouble. PITTSBURGH, July 18.-A special from Butler, Pa., to the Commercial Gazette says that the First National bank of Butler was closed by Bank Examiner Young, who reports that the funds, capital and reserve, are impaired The bank will go into the hands of a receiver.
2.July 19, 1879Wheeling RegisterWheeling, WV
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Article Text
Bank Failure. PITTSBURGH, Julv 18.-A special from Butler, Pa., to the Commercial-Gazette says thot the First National bank, of Butler, was closed to-day by BankExaminer Young, who reports that he finds the capital stock and reserve fund impaired. The bank will go into the hands of 2 receiver.
3.July 19, 1879Chicago Daily TribuneChicago, IL
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Article Text
FINANCIAL. Epecial Disputch to The Tribune. FORT WATNE, Ind., July 18.-Ferdinand Fleigner, furniture-dealer, has made an assignment. Liabilities, $0,000; assets, $4,000. PITTEBURG, July 18.-A special from Butler, Pa., to the Commercial-Guzelte says that the First National Bank of Butler was closed to-day by Bank-Examiner Y oung, who reports that he Bude the capital and reserve impaired. The bank will go into the hands of a Receiver.
4.July 23, 1879The Somerset HeraldSomerset, PA
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Article Text
The First National Bank of Butler, Pa., Closes its Doors. PITTSBURGH, July 18.-A special from Butler to the Pittsburgh Commercial Gazette says the First National Bank of Butler was closed by Bank Examiner Young, who reports that he finds the capital stock and reserve fund impaired. The bank will go into the hands of a receiver.
5.July 24, 1879The Democratic PressRavenna, OH
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Article Text
PITTSBURG, July18-A special from Butler, Penusylvania, to the Commereial Gazette, says that the First National Bank of Butler was closed today by Bank Examiner Young, who reports that he finds the capital and reserve impaired. The bank will go into the hands of a receiver.
6.September 10, 1879Butler CitizenButler, PA
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Article Text
Notice. TREASURY DEPARTMENT, Office of Comptroller of the Currency, WASHINGTON, Aug. 5, 1879. Notice is hereby given to all persons who may have claims against the First National Bank of Butler, that the same must be presented to Henry B. Cullum, Receiver, at Butler, Pa., with the legal proof thereof, within three months from this date, or they will be disallowed. J. S. LANGWORTHY, Acting Comptroller of the Currency. aug13-3m
7.November 5, 1879Butler CitizenButler, PA
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Article Text
Notice. TREASURY DEPARTMENT, Office of Comptroller of the Currency, WASHINGTON, Aug. 5, 1879. Notice is hereby given to all persons who may have claims against the First National Bank of Butler, that the same must be presented to Henry B. Cullum, Receiver, at Butler, Pa., with the legal proof thereof, within three months from this date, or they will be disJ. S. LANGWORTHY, allowed. Acting Comptroller of the Currency aug18-3m
8.August 11, 1880Butler CitizenButler, PA
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Article Text
on day of sale, and the other half within 6 months thereafter, with interest and with such security as shall be satisfactory to the Receiver, and no deed to be made to the purchaser until the consideration shall be fully paid : and as to personal property, cash to be paid on day of sale. JOHN N. PURVIANCE, Receiver of First National Bank, of Butler, Pa. Butler, Pa., August 5, 1880.
9.August 18, 1880Butler CitizenButler, PA
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Article Text
on day of sale, and the other half within 6 months thereafter, with interest and with such security as shall be satisfactory to the Receiver, and no deed to be made to the purchaser until the consideration shall be fully paid : and as to personal property, cash to be paid on day of sale. JOHN N. PURVIANCE, Receiver of First National Bank, of Butler, Pa. Butler, Pa., August 5, 1880.
10.February 22, 1882Butler CitizenButler, PA
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Article Text
# PUBLIC SALE
OF
# VALUABLE REAL ESTATE.
BY order of Court, the undersigned Receiver of the First National Bank, of Butler, Pa., will offer at public sale, at the Court House, in Butler, on
11.May 30, 1883Butler CitizenButler, PA
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Article Text
Notice. FIRST NATIONAL BANK OF BUTLER, PA. The creditors are hereby notified of 6th Dividend, payable on demand at the Banking house, corner of Main and Jefferson streets, JOHN N. PURVIANCE, Butler, Pa. Receiver. May 19, 1883. (1t)
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.