gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
93885ab86b0db15b
Response Measures
None
Receivership Details
Depositor recovery rate
85.0%
Date receivership started
1916-04-01
Date receivership terminated
1920-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
37.2%
Share of assets assessed as doubtful
47.8%
Share of assets assessed as worthless
15.0%
Description
Failure precipitated by officer defalcation and large bad loans; receiver later administered bank assets.
Events (4)
1.February 7, 1887Chartered
Source
historical_nic
2.March 25, 1916Suspension
Cause
Bank Specific Adverse Info
Cause Details
Defalcation/embezzlement by officers (~$25,000+), large loans to officers/directors, and many nonliquid and doubtful loans.
Newspaper Excerpt
The suspension March 25 of the American National Bank of Fort Smith, Ark., was announced yesterday by the Comptroller of the Currency in a statement which said the failure was precipitated by a defalcation of about $25,000 or more, in which certain officers of the bank are reported to be implicated.
Source
newspapers
3.April 1, 1916Receivership
Source
historical_nic
4.April 1, 1916Receivership
Newspaper Excerpt
Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults.
Source
newspapers
Newspaper Articles (14)
1.March 29, 1916Alexandria GazetteAlexandria, VA
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Article Text
The suspension March 25 of the American National Bank of Fort Smith, Ark., was announced vesterday by the Comptroller of the Currency in a statement which said the failure "was precipitated by a defalcation of about $25,000 or more, in which certain officers of the bank are reported to be implicated." "Other causes of the failure," says the statement, "were large loans to officers and directors, and an accumulation of a large amount of nonliquid and doubtful loans. The bank has been under observation and on the special list for some months past. "The capital anr surplus of the bank are $250,000 and the deposits, as last reported, December 31, were $535,000."
2.March 29, 1916The Washington HeraldWashington, DC
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Article Text
Arkansas Bank Suspends. The Comptroller of the Currency announced yesterday the suspension of the American National Bank of Fort Smith, Ark. Capital and surplus, $50,000; deposits, at time of December 31 call, $535,000.
3.March 30, 1916The Richmond VirginianRichmond, VA
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Article Text
ARKANSAS BANK CLOSED. Shortage In Funds Attributed to Officers' Delinquency. Washington, March 29.-The suspension March 25 of the American National Bank, of Fort Smith, Ark., was announced yesterday by the Con ptroller of the Currency in a statement which said the failure "was prec pitated by a defalcation of about $25,000 or more, In which certain officers of the bank are reported to be implicated." "Other causes of the failure." says the statement. "were large loans to officers and directors, and an accumulation of a large amount of nonliquid and doubtful loans. The bank has been under observation and on the spocial list for some months past. "The capital and surplus of the bank are $50,000 and the deposits, as last reported, December 31, were $635,000."
4.April 28, 1916The PulaskianLittle Rock, AR
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Article Text
Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two OI the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.
5.May 3, 1916Judsonia Weekly AdvanceJudsonia, AR
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Article Text
Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two of the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.
6.May 4, 1916The MonticellonianMonticello, AR
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Article Text
Petitions were filed in the federal court by J. M. Logan of St. Louis, as receiver for the defunct American National Bank of Fort Smith, asking the court to grant an order allowing the search of four lock boxes in the bank vaults. The petition alleges two 01 the boxes contain property of P. A. Ball, former cashier of the bank, and that the others contain property of Andrew S. Dowd, former assistant cashier.
7.September 28, 1916The Mena Weekly StarMena, AR
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Article Text
GUILTY PLEA BY 2 BANK OFFICIALS Ball and Dowd Admit Conspiracy Falsifying Their Reports on Fort Smith Bank's Condition-$212.000 Shortage Exists. Fort Smith, Sept. 21.-P. A. Ball, cashier, and A. S. Dowd, assistant cashier, of the defunct American National Bank of this city. this morning, pleaded guilty to the charge of falsifying their reports to the comptroller of the currency as to the bank's conditions. The conspiracy and embezzlement charges against them still are to be heard. The trial of T. W. M. Moore, indicted on similar charges, was continued. The American National Bank closed its doors last March under orders from Bank Examiner Logan, who was made temporary receiver. An investigation by the federal jury showed a shortage of $212,000 in the bank's cash. Boone, Ball, Dowd and Assistant Cashier E. M. Dickenson were jointly indicted on charges of falsification of reports, and conspiracy, and embezzlement of the bank's funds, on separate indictments charging of which, it is asserted, Boone received $110,000; Ball $25,000; Dowd $17,000 and Dickenson $60,000. Dickenson confessed and assisted the federal experts in examining the bank's records. He was indicted yesterday in the state courts on a charge of grand larceny and in accepting $450 for deposit from an aged woman and making no account of it nor giving her any evidence of her deposit. The hearing of the assistant cashier on this charge has been set for October 3. He has not yet been placed on trial in the government case.
8.October 19, 1917The MonticellonianMonticello, AR
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Article Text
Henry P. Hilliard, receiver for the defunct American National Bank of Fort Smith announced a third dividend of 10 per cent will be paid de positors about November 1. It will distribute approximately $55,000 in that city.
9.October 19, 1917The Green Forest TribuneGreen Forest, AR
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Article Text
Henry P. Hilliard, receiver for the defunct American National Bank of Fort Smith announced a third dividend of 10 per cent will be paid de positors about November 1. It will distribute approximately $55,000 in that city.
10.October 19, 1917The PulaskianLittle Rock, AR
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Article Text
Henry P. Hilliard, receiver for the defunct American National Bank of Fort Smith announced a third dividend of 10 per cent will be paid depositors about November 1. It will distribute approximately $55,000 in that city.
11.October 28, 1919The SpectatorOzark, AR
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Article Text
Fort Smith.-Notes and judgments amounting to $154,576.59 of the Ainer tean National Bank were authorized to be sold by Judge Frank A. You nans of the United States District Court, following the filing of a petition of Henry P. Hilliard, receiver for the bank, which falled in 1916. The receiver is granted the right to sell the assets either at private or public sale.
12.October 30, 1919The Nevada County PicayunePrescott, AR
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Article Text
Fort Smith.-Notes and judgments amounting to $154,576.59 of the Ameri an National Bank were authorized to, be sold by Judge Frank A. You mans of the United States District Court, following the filing of a petition of Henry P. Hilliard, receiver for the bank, which failed in 1916. The receiver is granted the right to sell the assets either at private or public sale.
13.October 30, 1919Judsonia Weekly AdvanceJudsonia, AR
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Article Text
Fort Smith.--Notes and judgment. amounting to $154,576.59 of the Amer tean National Bank were authorized to be sold by Judge Frank A. You nans of the United States District Court, following the filing of a petition of Henry P. HilHard, receiver for the bank, which failed in 1916. The receiver is granted the right to seil the assets either at private or public sale.
14.October 31, 1919The PulaskianLittle Rock, AR
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Article Text
Fort Smith.-Notes and judgments amounting to $154,576.59 of the Americen National Bank were authorized too be sold by Judge Frank A. You mans of the United States District Court, following the filing of a petition of Henry P. Hilliard, receiver for the bank, which failed in 1916. The receiver is granted the right to sell the assets either at private or public sale.
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.
