gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a9732b30be29f708
Response Measures
None
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1908-09-03
Date receivership terminated
1909-09-30
OCC cause of failure
Losses
Share of assets assessed as good
17.3%
Share of assets assessed as doubtful
47.8%
Share of assets assessed as worthless
35.0%
Events (4)
1.December 28, 1889Chartered
Source
historical_nic
2.September 3, 1908Receivership
Source
historical_nic
3.September 3, 1908Receivership
Newspaper Excerpt
P. Tillinghast has been appointed receiver.
Source
newspapers
4.September 3, 1908Suspension
Cause
Government Action
Cause Details
Closed by board on grounds of insolvency and placed in charge of a receiver by the comptroller of the currency.
Newspaper Excerpt
This bank ordered closed by its board of directors, pending action by the comptroller of the treasury.
Source
newspapers
Newspaper Articles (13)
1.September 3, 1908The Topeka State JournalTopeka, KS
Click image to open full size in new tab
Article Text
OHIO BANK CLOSED Last Statement Shows $610,000 Due Depositors. Washington, Sept. 3.-The First National bank of Niles, O., was closed today by order of the board of directors on the grounds of insolvency. P. T. Tillinghast has been appointed receiver. A statement of the condition of the bank on July 15 last showed the resources and liabilities to be $1,384,625. Of the liabilities $610,000 are due depositors. Niles, O., Sept. 3.-This notice was posted on the doors of the First National bank this morning: "This bank ordered closed by its board of directors, pending action by the comptroller of the treasury. It is the opinion of the board of directors that this bank is solvent and every depositor will be paid in full. "WILLIAM HERBERT, President,"
2.September 3, 1908The Detroit TimesDetroit, MI
Click image to open full size in new tab
Article Text
Niles, O., Bank Closed. NILES, O., Sept. 3.-The First National bank of this city was closed today by order of its directors on the ground of insolvency. P. Tilinghast was appointed receiver.
OHIO BANK CLOSED. / Washington, Sept. 3.-The First National bank of Niles, Ohio, was closed today by order of the board of directors on the ground of insolvency. P. Tillinghast was appointed receiver.
4.September 3, 1908The Fargo Forum and Daily RepublicanFargo, ND
Click image to open full size in new tab
Article Text
BIG OHIO BANK IS INSOLVENT Washington, D. C., Sept. 3.-The First National bank of Niles, O., with a capital of $300,000, was closed today by order of the board of directors, on the ground of insolvency. P. Tillinghast has been appointed receiver.
5.September 3, 1908Evening JournalWilmington, DE
Click image to open full size in new tab
Article Text
Ohio Bank Closed. By United Press Leased Special Wire. WASHINGTON, Sept. 3.-The comptroller of the currency today announeed the closing of the First National Bank of Niles, Ohio, by order of the board of directors and the appointment of P. Tillinghast as receiver.
National Bank Closed. Washington, Sept 3.-The First National bank of Niles, O., was closed to-day by order of the board of directors, on the ground of insolvency. receiver has been appointed.
7.September 3, 1908Lewiston Evening TellerLewiston, ID
Click image to open full size in new tab
Article Text
Eastern Bank Suspends. Niles, O., Sept. 3.-The First Na tional bank closed today on the grounds of insolvency. Liabilities are $1,300,000.
8.September 4, 1908The Washington HeraldWashington, DC
Click image to open full size in new tab
Article Text
Insolvent National Bank. The Comptroller of the Currency yesterday placed the First National Bank of Niles, Ohio, in charge of a receiver.
9.September 4, 1908Omaha Daily BeeOmaha, NE
Click image to open full size in new tab
Article Text
Bank at Niles, O., Fails. WASHINGTON. Sept. 3.-The First Na. tional bank of Niles, O., was closed today by order of the board of directors on the grounds of insolvency, P. Tillinghast has been appointed receiver,
10.September 4, 1908The Washington HeraldWashington, DC
Click image to open full size in new tab
Article Text
Niles Bank Is Closed. The First National Bank of Niles, Ohio, was closed yesterday by order of the board of directors on the ground of insolvency. P. Tillinghast has been appointed receiver.
11.September 4, 1908The Salt Lake HeraldSalt Lake City, UT
Click image to open full size in new tab
Article Text
USUAL NOTICE ON THE DOOR Ohio National Bank Closed, but It Is Expected "Every Depositor Will Be Paid in Full." Washington, Sept. 3.-The First National bank of Niles, Ohio, was closed today by order of the board of directors on grounds of insolvency. P. Tillinghast has been appointed receiver. A statement of the condition of the bank on July 15 last showed the resources and liabilities to be $1,384,625. Of the liabilities $610,000 are due depositors.
12.November 3, 1908The Daily Gate CityKeokuk, IA
Click image to open full size in new tab
Article Text
Depositors Get 40 Per Cent. YOUNGSTOWN, Ohio, Nov. 3.-The comptroller of the currency has authorized Receiver Tillinghast of the First National Bank of Niles to pay depositors a dividend of 40 per cent. The bank closed its doors about two months ago.
13.November 3, 1908The Winchester NewsWinchester, KY
Click image to open full size in new tab
Article Text
Bank Dividend Ordered. Youngstown, O.. Nov. 3. - The comptroller of the currency has authorized Receiver Tillinghast of the First National Bank of Niles to pay depositors a dividend of 40 per cent. The bank closed its doors about two months ago.
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.
