gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0ce30e5dc6b03a6e
Response Measures
None
Receivership Details
Depositor recovery rate
96.4%
Date receivership started
1929-10-18
Date receivership terminated
1937-08-21
Share of assets assessed as good
53.4%
Share of assets assessed as doubtful
33.4%
Share of assets assessed as worthless
13.2%
Description
Articles report the First National Bank closed in mid‑October 1929 and a receiver appointed in early November.
Events (4)
1.October 22, 1886Chartered
Source
historical_nic
2.October 18, 1929Receivership
Source
historical_nic
3.October 18, 1929Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed because of 'frozen assets' and inability to collect loans following a local wave of closures and rumors.
Newspaper Excerpt
The banks that have been closed ... the National Bank, and the First National Bank, all of Taylorville
Source
newspapers
4.November 4, 1929Receivership
Newspaper Excerpt
M. E. Jensen ... was appointed receiver for the First National Bank of Taylorville and the Taylorville National bank.
Source
newspapers
Newspaper Articles (16)
1.October 19, 1929The Saginaw NewsSaginaw, MI
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Article Text
BRINGS BANK
Several Illinois Institutions Close, Leaving One to Stand Brunt.
(By Associated Press.)
Oct. Out of the sky yesterday dropped money bags to bring renewed faith to town and stave bank which would almost run certainly have resulted empty vaults the only bank which mained open. The drone of an airplane motor day was saved that the line of 250 depositors front of the Farmers' National bank need have no fears not getting their Almost like magic the line faded away and another redepositing money they earlier Relief rushed by airplane to the Farmers' bank by Chicago fedreserve officials soon they learned Taylorville's other three banks had been closed. Today bank examiners were scanning the books the three closed banks and banks three others nearby towns. Thus far, cially blamed for the The banks that been closed Colgrove company, State bank, Taylorville National bank and First National bank of Citizens' State bank Turner State banks, both of Edinburg: State bank of Bulpitt.
2.October 19, 1929The Ann Arbor NewsAnn Arbor, MI
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Article Text
Federal Reserve at Chicago Rushes Cash to Taylorville, Illinois
Taylorville, III., Oct. Out the sky Friday dropped of money bags bring faith town and off bank run which almost certainly have in vaults only bank empty which open The drone motor the signal that the day line of 250 desaved positors front of fears of tional their money Almost getting like magle the faded another redethey earlier positing the money Relief was rushed by airplane to the by Chicago FedReserve officials had closed. Today bank were books of the three closed banks and banks three towns. Thus "frozen been unoffiblamed for hutdowns. The banks that have been closJohn B. Colegrove and Co., State National and First National all Citizens State bank Turner Edinburg, State bank of Bul-
3.October 19, 1929The Paducah SunPaducah, KY
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Article Text
RUN ON BANK IS CHECKED BY PLANE
Chicago Bank Sends Funds to Illinois Bank
ILL., Oct. 19 of the sky yesterday dropped bags to bring renewed faith town and stave off bank run which would most certainly have resulted empty vaults the only bank which remained open The drone an airplane motor the signal that the day was saved and that the line of 250 positors front of the Farmer's National Bank need have no fears of not getting their money. most like magic the line faded away another redepositing money they earlier had withdrawn. Relief rushed by airplane Farmers Bank by Chicago Federal Reserve officials as soon they learned that Taylorville's other three banks had been closed. The banks that have been closed John Colegrove and company, state bank: the National Bank, and the First National Bank, all of Taylorville; Citizens State Bank and the Turner State Bank both Edinburg, and the State Bank of Bulpitt.
4.October 19, 1929The St. Louis Star and TimesSt. Louis, MO
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Article Text
TAYLORVILLE MERGERS MAY BAR LOSSES IN CLOSING
Depositors Heartened by RuHalted by Airplane Remittance.
By Staff question minds this today what their prospective losses be of the closing three of the town's four banks. Miners, chants and others stood in front of the banks gazing the typed notices pasted and talking about of regaining their deposits. general opinion seems to be would be some loss depositors, but report that the Taylorville National Bank and the First National Bank merge and reopen heartened most of depositors. was pointed that similar year ago Shelby County, which adjoins Christian County, seven banks and that the banks reopened that reduced the loss of depositors to virtually Chief State Bank Examiner Nicholson, on the scene staff told reporter for The Star his investigation had not far the status of the closed Tried "Ride Out Deflation." Inability the banks collect examiner the loans were made the said that lands 1926 when land farm high that the bankers preferred out the deflation period" that followed rather than foreclose on their mortgages. just business judghe asserted. all. six Christian County banks closed They First all pany Turner Bank Edinburg. Farmers' State State The the first to This was last Friday. run started the after was rumored the wealthiest citizens of Illinois loan John Colgrove, head of the stitution. This and many other rumors were heard today wherever the reporter went. In barber hotels, the chief question much did have Deposits Total $2,900,000. The three Taylorville banks closed deposits Under Illinois, are liable for an amount twice stock. banks section of Christian County The of when Farmers' National here had died down today. $600,000, the bank open here When opened yesterday morning crowd 400 depositors rushed the doors. cried their bank books they pushed shoved line that passed the tellers' cages. Bank employes and shoutfor quiet they dealt out sheafs bank notes to the frantic deposThe was stopped in spectacular Adams, telephoned Springbank in an automobile The money rushed through and heaped in tellers' view of crowd. This, quiet them, Adams telephoned Federal officials Chicago rushed here airplane guarded by federal agents. The plane arrived hour and minutes after money was transferred guarded by deputy sheriffs policemen. the swept front the bank, guards, crowd. and their walked the building and the cages. The quiet two hours dispersed. withdrawn funds them. The Bank and this saved the The bank amount of bonds hand and borrow them. Colegrove attributed the condition bank to frozen assets. He that farm declined that the four of the Peabody Coal only one day during the because of in demand, throwing many men out work.
BANK
Depositors At Taylorville, III., Grow Wary As Three Other Institutions Close
FROZEN ASSETS BLAMED
Associated Press TAYLORVILLE Ill., Oct. 19. Out of the sky yesterday dropped money bags to bring renewed panic and stave off bank run which would almost certainly have resulted empty vaults at the only bank which remained open. drone of an airplane motor was the signal the day was the 250 itors the National bank no fears of getting their Deposit Money Again Almost like magic line the money they earlier had withdrawn. Relief was rushed by airplane the Farmers bank Chicago federofficials they learned Taylorville's other three banks had Other Books Today ning the the three and nearby Thus sets" been unofficially blamed for the shutdowns. The banks that have been closed John Colegrove state bank, Taylorville National bank and the First National bank, the Citizens State bank and Edinburg, the State Bank of Bulpitt
6.October 19, 1929The Birmingham NewsBirmingham, AL
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Article Text
Money Bags Drop From Skies And Halt Run On Bank
Out Friday money bags bring faith to town and stave off bank run which would almost certainly have resulted empty vaults at the only bank which remained open. The drone an airplane motor was the signal that the day saved and that the line of 250 depositors in front of the Farmers Na. tional Bank need have no fears of not getting Almost like magle faded and other formed redepositing the money they had Relief rushed by airplane to the Farmers Bank by Chicago Federal officials they learned that Taylorville other three banks had been closed Saturday bank examiners were scanning the three closed and banks three other nearby Thus "frozen assets have been unofficially blamed for the The banks that have closed John B. Colegrove Company. National Bank First National Bank, all of Taylorville the Citizens State Bank and Turner State Bank, both of Edinburg: the State Bank
7.October 19, 1929The JournalMeriden, CT
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Article Text
MONEY FALLS OUT THE CLOUDS
Panic Is Replaced By Confidence as Plane Drops Cash
Taylorville, III., Oct. of the sky dropped money bags bring renewed faith to panic stricken town and stave off bank run which would almost certainly have resuted empty vaults at the open. The drone airplane motor was the signal that the day was saved and line 250 depositors front of the Farmers' National bank need have fears not getting money. Almost like magic the line faded forme? redepositing the money they earlier had Relief rushed airplane to the Farmers' bank Chicago Federal Reserve officials they learned that other three banks had closed. Today bank examiners were scanning the books of the three closed banks and banks in three others nearby Thus "frozen have been unofficially blamed for the shutdowns. The banks that have been closed John Colegrove state bank; the Taylorville National bank, the First Natinal Taylorville; Citizens' State bank and the Turner State Banks, Edinburg, the State Bank of Bulpitt.
8.November 4, 1929Decatur HeraldDecatur, IL
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Article Text
NEBRASKA MAN BANK RECEIVER
M. E. Jensen Checked in, Assumes Duties in Taylorville
Nov. Jensen, Plainview, Neb., Monday was appointed receiver for the First tional Bank of Taylorville and the Taylorville National bank. He checked in Monday afternoon and preparing to assume duties in connection with the two banks closed two weeks ago. Mrs. Jensen declined to make any statement regarding the financial condition of the two banks. Mr. Jenhas had five years' experience National bank receiver.
9.November 5, 1929Herald and ReviewDecatur, IL
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Article Text
RECEIVERS OF THREE BANKS
Two Nationals and One State in Taylorville Are Taken Over
Nov. Jensen, Plainview, Neb., Monday was appointed receiver for the First tional Bank of Taylorville and the Taylorville National bank. He was checked in Monday afternoon and preparing to assume duties connection the two banks closed two weeks ago. Mr. Jensen declined to make any statement regarding the financial condition the two banks. Mr. Jenhas had five years' experience as National bank receiver. Colgrove Bank Receiver Late Monday was announced that Robert G. Early, prominent torney of Geneva, has been appointed receiver the John B. Colgrove state bank here. The Colgrove bank was closed about three weeks ago because of frozen assets. was the first of six banks in Christian county to be closed. Mr. Early is expected here Tuesday to take over management and reorganization of the bank. He has been the state banking department under State Auditor Oscar Nelson for some time.
10.September 29, 1930The Taylorville Daily Breeze CourierTaylorville, IL
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Article Text
BANK RECEIVER SUES VANDEVEER
Federal Judge Louis FitzHenry on Saturday ordered William T. Vandeyeer of this city to answer charges brought by F William Lensing. receiver of First National bank of this owlls sixty shares of stock in the bank and has not paid. an assessment of $100 a share levied by the United States comptroller of
Attorney for Vandeveer argued hat the stock in question is in the name of Roy A. Johnston. former president of the bank. and that Johnston is liable for the assessment. Judge FitzHenry ruled that the charge that Vandeveer is owner of the stock is sufficient to require an answer and that proof of the charge must be produced by the bank it court. The case has been set for hearing in January.
11.October 20, 1930Herald and ReviewDecatur, IL
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Article Text
TAYLORVILLE BANK RECEIVER TO RECOVER $8,325 suit filed federal court Friday by M. Lensing. receiver defunct First National bank. of this city, to recover $8,325 from the Fernandes Grain of Springfield. This sum alleged to have been paid them by Rolley Garland. assistant cashier of the bank, who is now serving sentence for embezzle ment in alleged that Garland paid the above amount the Springfield concern with five drafts, paid within period of less than six months between 27. 1926. Dec. 18, 1926. for and grain on future contracts. That these dealings indicated by which show that some 15 or he only four five times. In the suit filed Friday. Mr. LenWEST GRAND BAPTIST sing alleges the officials of the grain that they were dealing Garland, and that he only buying grain by paying marginal grain market on future prices, and did not expect to receive the grain purchased. also contended in the suit that the statute recognizes this sort of transaction gambling contract grain speculation. this clause that Mr. Lensing seeking recover the money for Garland up his shortage at the bank for time by keeping sets of books, for the bank and one for his own use
12.January 19, 1931The Taylorville Daily Breeze CourierTaylorville, IL
Article Text
First National to Pay Another 10% Dividend In February
Receiver Lensing Announced Today That He Is Preparing to Pay Approximately $85,000
More to Depositors.
F. William Lensing, national bank receiver in charge of the First National bank, Taylorville, is now preparing third dividend checks. The amount of the dividend to be paid at this time will be approximately $85,000. The bank already has paid dividends totaling $490,072.98. In addition to the above amounts secured claims amounting to more than $250,000 have been paid since inception of the receivership, making a total paid to creditors amounting to more than $825,000. Third dividend checks when prepared by Receiver Lensing, will be forwarded to Washington for signature and will probably be ready for delivery to depositors the latter part of February. The Breeze will carry a news item when they are ready for distribution. Do not misplace your receivers' certificate.
13.February 10, 1931The Taylorville Daily Breeze CourierTaylorville, IL
Article Text
3RD DIVIDEND CHECKS AT FIRST NATIONAL READY
F. Wm. Lensing, National bank receiver, in charge of The First National Bank of Taylorville, will start on Wednesday morning at 8 'clock to pay a third dividend of ten per eent to creditors who have made satisfacfory proof of claim and hold receiv er's certificates. Your Receiver's certificates must be presented for endorsement before your check will be delivered to you! More than 1500 creditors will participate in the dividend, Dividends paid to date total $576,709.28, or 65 per cent of claims proven. Payment of future dividends de pends on how promptly people owing the bank pay their obligations. Creditors of the bank must present their Receiver's certificate for endorsement before the dividend check will be delivered to them. Do not lose your Receiver's Certificate.
14.June 8, 1931Herald and ReviewDecatur, IL
Article Text
TAYLORVILLE BANK RECEIVER RESIGNS
Lenhas of the First National bank here. since last August, has resignation. was appointed receivfor the Citizens National bank He will leave for that city within next few days. Mr. Lensing will succeeded here by who has been receiver for some time the Pana National bank. He close his books Saturday night, and turn the of the local bank over Mr. Martin, Monday Mr. Lensing has made much in liquidating the affairs progress the bank.
15.September 2, 1931The Taylorville Daily Breeze CourierTaylorville, IL
Article Text
4TH DIVIDEND CHECKS READY 1ST NATL BANK
Receiver Martin Announced Today that Checks Total $86,000.
The fourth dividend checks are now ready for depositors of the defunet First National Bank, it was announced today by E. T. Martin, receiver. They may be obtained at the bank, Friday and after. The First National, as well as all other banks of the county will be closed all day Thursday in order that officials and employes may attend the Town Guard Shoot at Deentur.
The fourth dividend is for onetenth the amount the depositor has in the bank, and the checks which will be handed out at this time total between $85,000 and $86,000.
The First National Bank was closed in October, 1929, and under the management of capable officiis als, its liquidation of assets moving along quite rapidly.
16.June 28, 1932The Taylorville Daily Breeze CourierTaylorville, IL
Article Text
E. JENSEN TO BE RECEIVER OF CHICAGO BANK
Cashier of Taylorville National Bank Named Receiver Midland National
Bank.
M. E. Jensen, eashier of the Taylorville National bank, has been named receiver for the Midland National bank of Chicago and took up his duties there this morn- ing.
The appointment of Mr. Jensen to this position takes him back to the work he did before he was named eashier of the local bank at the time of its reorganization in February, 1930. Mr. Jensen came to Taylorville during the latter part of November, 1929, as receivor of the First National bank. He held that position until he was called to the Taylorville National bank. When the assets of the Taylorville National bank were sold to the Farmers National bank recently, Mr. Jensen was retained by the directors of the bank to take charge of the liquidation of assets. comptroller of the currency at Washington late Monday, ordering him to report for his new duties today. A. L. Shrout, president of the former Taylorville National bank, will assume the duties of Mr. Jensen at the local bank until his successor is named by the directors. The Jensens have made many friends during their stay here, who will regret to see them leave, but wish them success in their new position. Mrs. Jensen and children will remain here for a time before joining Mr. Jensen.
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.
