gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0bf49c133f844e4d
Response Measures
None
Receivership Details
Depositor recovery rate
55.0%
Date receivership started
1903-08-22
Date receivership terminated
1905-08-15
OCC cause of failure
Excessive lending
Share of assets assessed as good
45.5%
Share of assets assessed as doubtful
41.6%
Share of assets assessed as worthless
12.8%
Description
Closure linked to failure at Beaumont and large loans to a common officer (Rod Oliver).
Events (5)
1.March 22, 1890Chartered
Source
historical_nic
2.August 20, 1903Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed failure of the Citizens' National Bank of Beaumont and large excessive loans to Rod Oliver, who was president of both banks.
Newspaper Excerpt
the Groesbeck national bank, of Groesbeck. Tex., was closed by the cashier on the 20th instant by direction of the president
Source
newspapers
3.August 22, 1903Receivership
Source
historical_nic
4.August 22, 1903Receivership
Newspaper Excerpt
National Bank Examiner J. W. Hertford has been appointed receiver. ... The comptroller of the currency today received a telegram stating that the Groesbeck national bank ... was closed ... National Bank Examiner J. W. Hertford has been appointed receiver.
Source
newspapers
5.September 3, 1903Other
Newspaper Excerpt
report from the receiver of the Groesbeck National Bank ... showing a deficiency of $20,465.01
Source
newspapers
Newspaper Articles (12)
1.August 22, 1903The Birmingham Age-HeraldBirmingham, AL
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Article Text
ANOTHER BANK CLOSED. Suspension Comes as Result of Failure at Beaumont. Dallas, Tex., August 21.-A special to the News from Groesbeck, Tex., says: The Groesbeck National bank was closed yesterday at the request of Rod Oliver, president. Mr. Oliver is president of the defunct Citizens' bank at Beaumont, and the closing of the bank here was in obedience to a telegram from him. There is no uneasiness or excitement as the bank is regarded as perfectly solvent and it is generally believed will resume business in a few days.
2.August 24, 1903The Atlanta ConstitutionAtlanta, GA
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Article Text
Closed by the Comptroller. Washington, August 22.-The comptroller of the currency today received a telegram stating that the Groesbeck national bank, of Groesbeck. Tex., was closed by the cashier on the 20th instant by direction of the president of the bank as a result of the failure of the Citizens' national bank. of Beaumont. Tex. National Bank Examiner J. W. Hertford has been appointed receiver. The failure of this bank is said to be due to the same causes which led to the closing of the Citizens' national bank-large excessive loans to Rod Oliver. who was president of both associations. and to enterprises in which he was interested. The resources and liabilities of the bank as shown by the last report of condition to the comptroller of the currency, June 9, 1903, were as follows: Resources: Loans and discounts $173.321; United States bonds to secure circulation $12,500; real estate $6,300; due from banks and bankers $37,102: cash and cash items $4.678; total $233,902. Liabilities: Capital stock $50,000; surplus fund and undivided profits $21,429: circulation $12,500: due to banks and bankers $3,351: individual deposits $84,376; notes and bills rediscounted and bills payable $62,245; total $233,902.
3.September 3, 1903Evening StarWashington, DC
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Article Text
Groesbeck, Tex., Bank's Condition. The controller of the currency has received a report from the receiver of the Groesbeck National Bank of Groesbeck, Texas. which shows the total liabilities of the bank to be $165,150.41. and the estimated value of the assets to be $144,694.40, showing a deficiency of $20,465.01. The receiver reports that if there is any change in his estimate of value of assets, he feels safe in stating that it will be favorable to the bank.
4.September 4, 1903The Montgomery AdvertiserMontgomery, AL
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Article Text
Deficit of $20,465. Washington, Sept. 3.-The Comptroller of the Currency has received a report from the receiver of the Groesbeck National Bank of Groesbeck, Texas, giving the total liabilities of the bank at $165,159, and the estimated value of the assets at $144,694, showing a deficiency of $20,465. The receiver reports that if there is any change in his estimate of value of assets he feels safe in stating that it will be favorable to the bank.
5.September 4, 1903Arizona RepublicanPhoenix, AZ
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Article Text
ANOTHER TEXAS BANK. Washington, D. C., Sept. 3.-The comptroller of the currency has received a report from the receiver of the Groesbeck National bank of Groesbeck. Texas, giving the total liabilities of the bank at $165,139, and the estimated value of the assets at $144,694. showing a deficiency of $20,465. The receiver reports that if there is any change in his estimate of the value of assets he feels safe in stating that it will be favorable to the bank.
6.September 5, 1903The Birmingham Age-HeraldBirmingham, AL
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Article Text
Groesbeck Assets $144,694. Washington, September 4.-The comptroller of the currency has received a report from the receiver of the Groesbeck National bank of Groesbeck, Tex.. giving the total liabilities of the bank at $165,159 and the estimated value of the assets at $144,694, showing a deficiency of $20,465. The receiver reports that if there is any change in his estimation of value of the assets he feels safe in stating that it would be favorable to the bank.
7.September 5, 1903Bryan Morning EagleBryan, TX
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Article Text
Condition of a Texas Bank. Washington, Sept. 4.-The comptroller of the currency has received a report from the receiver of the Groesbeck National bank of Groesbeck, Tex., giving the total liabilities of the bank at $165,159 and the estimated value of the assets at $144,694. showing a deficiency of $20,465. The receiver reports that if there is any change In his estimate of value of assets he feels safe in stating that it will be favorable to the bank.
8.September 22, 1903Evening StarWashington, DC
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Article Text
Receiver for Texas Bank. The controller of the currency has appointed Mr. Thomas M. Thornton of Dallas, Texas, as permanent receiver of the Groesbeck National Bank of Groesbeck, Texas, to succeed National Bank Examiner J. W. Hertford, the change to take effect as soon as the assets of the bank can be listed and transferred.
9.September 22, 1903The Washington TimesWashington, DC
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Article Text
BANK RECEIVER APPOINTED. The Comptroller of the Currency has appointed Thomas M. Thornton, of Datlas, Tex., as permanent receiver of the Groesbeeck National Bank, of Groesbeck, Tex., to succeed National Bank Examiner J. W. Hertford, the change to take effect as soon as the assets of the bank can be listed and transferred.
10.September 23, 1903Arizona RepublicanPhoenix, AZ
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Article Text
RECEIVER FOR TEXAS BANK. Washington, D. C., Sept. 22.-The comptroller of the currency has appointed Thomas A. Thornton of Dallas, Texas, permanent receiver of the Groesbeck National bank of Groesbeck, Texas.
11.September 23, 1903The Montgomery AdvertiserMontgomery, AL
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Article Text
Thornton Made Receiver. Washington, Sept. 22.-The - Controller of the Currency has appointed Thomas M. Thornton, of Dallas. Texas, permanent receiver of the Groesbeck National Bank of Groesbeck, Texas, to succeed National Bank Examiner J. W. Hertford, the change to take effect as soon as the assets of the bank can be listed and transacted.
12.September 24, 1903Bryan Morning EagleBryan, TX
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Article Text
Dallas Man Appointed. Washington, Sept. 23.-The controller of the currency has appointed Thomas H. Thornton of Dallas, Tex., permanent receiver of the Groesbeck National bank of Groesbeck, Tex.. to succeed National Bank Examiner J. W. Hertford, the change to take effect as soon as the assets of the bank can be listed and transferred.
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