gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
26731136640e8a8b
Response Measures
None
Receivership Details
Date receivership started
1913-04-17
OCC cause of failure
Losses
Events (4)
1.May 9, 1864Chartered
Source
historical_nic
2.March 23, 1911Suspension
Cause
Bank Specific Adverse Info
Cause Details
Controlling interest changed about a year earlier; gradual withdrawal of deposits and increase in loans and discounts, with heavier withdrawals in past sixty days.
Newspaper Excerpt
FIRST NATIONAL BANK OF ONEONTA SUSPENDS. ONEONTA, N. Y., March 23.-The First National Bank, of this city, today suspended business.
Source
newspapers
3.December 15, 1911Voluntary Liquidation
Source
historical_nic
4.April 17, 1913Receivership
Source
historical_nic
Newspaper Articles (10)
1.March 23, 1911Newark Evening Star and Newark AdvertiserNewark, NJ
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Article Text
FIRST NATIONAL BANK OF ONEONTA SUSPENDS. ONEONTA, N. Y., March 23.-The First National Bank, of this city, today suspended business. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. Herbert T. Jennings, of Moun! Vernon, and associates acquired a controlling interest in the bank about a year ago, since which time there has been a gradual withdrawal of deposits and an increase in loans and discounts. The withdrawals have been more extensive for the past sixty days. Unless there should be a marked shrinkage in the loans and discounts collectable it is expected the bank will pay depositors in full. Benjamin Marcuse, a national bank examiner, is in charge of the bank temporarily.
2.March 23, 1911The Topeka State JournalTopeka, KS
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Article Text
National Bank Suspends. Oneonta, N. Y., March 23.-The First National bank of this city suspended business today. The bank has about $800,000 resources and the deposits are about $500,000 with an equal amount of loans and discounts. Unless there should be a marked shrinkage on the loans and discounts collectible it is expected the bank will pay depositors in full.
3.March 25, 1911El Paso HeraldEl Paso, TX
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Article Text
Second Suspension Follows. New York, N. T., March 25.-The Mount Vernon National bank at Mount Vernon, N. Y., suspended business yesterday afternoon by decision of its directors. The institution has a capital stock of $200,000 and deposits of, more than $500,000. Its president, Herbert T. Jennings, was vice president of the First National bank of Oneonta, which suspended Wednesday.
4.March 25, 1911The Sentinel=recordHot Springs, AR
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Article Text
BANK CLOSED DOORS. Mt. Vernon National Bank Closed as a Precaution. New York, March 24 - The - Mount Vernon National Bank at Mt. Vernon, N. Y., suspended business this afternoon, The institution has a capital stock of $200,000 and deposits of more than $500,000. Its president, Herbert T. Jennings, was vice president of the First National Bank of Oneonta, which suspended business yesterday. The Mount Vernon National Bank is solvent, according to Samuel W. Raymond being closed to insure depositors and creditors that their interests would be protected in the face of the suspension of the Oneonta bank,
5.March 25, 1911Las Vegas OpticLas Vegas, NM
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Article Text
NATIONAL BANK SUSPENDS New York, March 25.-The Mount Vernon National bank at Mount Ver non, N. Y., suspended business yesterday afternoon by decision of the directors. The institution had a capital stock of $200,000 and deposits of more than $500,000. Its president, H: T. Jennings, was vice-president of the First National Bank of Oneonta, which suspended Thursday. The Mount Vernon National bank is entirely solvent and able to pay dollar for dollar to depositors, according to Samuel W. The Raymon, cashier and director.
6.March 25, 1911The Birmingham Age-HeraldBirmingham, AL
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Article Text
NEW YORK BANK SUSPENDS BUSINESS New York, March 24.-The Mount Vernon National bank at Mount Vernon, N. Y., suspended business this afternoon by a decision of its board of directors. The institution has a capital stock of $200,000 and deposits of more than $500,000. Its president, Herbert T. Jennings, was vice president of the First National bank of Oneonta, which suspended business yesterday. The Mount Vernon National bank is entirely solvent, according to Samuel W. Raymond, cashier and a director. The institution was closed as a precautionary measure, Mr. Raymond said, in order to insure depositors and creditors that their ,interests would be protected in the face of the suspension of the Oneonta bank.
7.March 29, 1911The CitizenHonesdale, PA
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Article Text
ONEONTA BANK SUSPENDS. The First National Bank of Oneonta suspended business last Friday. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. The withdrawals have been more extensive for the past sixty days. Unless there should be a marked shrinkage in the loans and discounts collectable it is expected the bank will pay depositors in full.
BANK IN NEW YORK CLOSES Institution at Oneonta Has $800,000 Resources and Deposits of $500,000. Oneonta, N. Y.-The First National bank of this city suspended business. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. Unless there should be a marked shrinkage in the loans and discounts collectable, it is expected the bank will pay depositors in full.
9.March 30, 1911River Falls JournalRiver Falls, WI
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Article Text
BANK IN NEW YORK CLOSES Institution at Oneonta Has $800,000 Resources and Deposits of $500,000. Oneonta, N. Y.-The First National bank of this city suspended business. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. Unless there should be a marked shrinkage in the loans and discounts collectable, it is expected the bank will pay depositors in full.
10.March 31, 1911Eagle River ReviewEagle River, WI
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Article Text
BANK IN NEW YORK CLOSES Institution at Oneonta Has $800,000 Resources and Deposits of $500,000. Oneonta, N. Y.-The First National bank of this city suspended business. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. Unless there should be a marked shrinkage in the loans and discounts collectable, it is expected the bank will pay depositors in full.
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.
