gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cf6cb1f3097a4d19
Response Measures
Full suspension, Books examined
Other: Placed under national bank examiner control and later receivership; suspension to collect loans and rebuild reserves.
Receivership Details
Depositor recovery rate
64.5%
Date receivership started
1928-02-24
Date receivership terminated
1936-12-09
Share of assets assessed as good
48.1%
Share of assets assessed as doubtful
35.4%
Share of assets assessed as worthless
16.5%
Description
Receivership was promptly established after suspension (receiver actions reported in spring 1928).
Events (5)
1.August 21, 1890Chartered
Source
historical_nic
2.February 23, 1928Run
Cause
Rumor Or Misinformation
Cause Details
Persistent withdrawals and a run that followed the resignation of the president and circulation of rumors about the bank's condition
Measures
None reported beyond directors closing the bank and placing it under examiner supervision
Newspaper Excerpt
A quiet run on the bank followed the resignation of Tyler...the run developed among Seaside and Gearhart depositors...resumed seriously early this week
Source
newspapers
3.February 23, 1928Suspension
Cause
Government Action
Cause Details
Directors closed the bank and placed it under the Comptroller/examiner by instruction of the national bank examiner after depletion of quick assets from heavy withdrawals
Newspaper Excerpt
Astoria National bank suspended operations today until it can collect on loans and rebuild its reserves. The suspension was under instructions of National Bank Examiner Crawley.
Source
newspapers
4.February 24, 1928Receivership
Source
historical_nic
5.February 24, 1928Receivership
Newspaper Excerpt
Crawley, receiver of the Astoria National bank, which closed its doors Feb. 23, filed suit... .
Source
newspapers
Newspaper Articles (20)
1.February 23, 1928The Oregon Daily JournalPortland, OR
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Article Text
ASTORIA NATIONAL BANK FAILS TO OPEN ITS DOORS
Astoria, Feb. 23.-(U. P.)-The Astoria National bank, largest financial institution in this city, did not open for business this morning. the notice on the door of the bank saying that it had been placed. by order of the board of directors, under the comptroller of the currency, with W. C. Crawley in charge. Full reasons for the closing of the bank have not yet been disclosed. but it is known that withdrawals of deposits have been heavy since W. A. Tyler resigned as president two weeks ago. The bank's deposits as of December 31. 1927. were $2,660,411.27; resources were $2,965,985.85. Officers of the Astoria National bank are: G. W Utzinger. president; C. G. Palmberg. chairman of the board: Dr. E. B. Waffle and B. F. Stone. vice presidents: Herbert Ambler. cashier: W. Tyler. G. W. Utzinger. Dr. E. B. Waffle. C. G. Palmberg. E. Wicks. Emil Streichert, H. Niemi, B. F. Stone. S. A. Gimre and J. A. The bank is pioneer financial institution, founded by D. K. Warren. who was succeeded as president. successively by the late J. E. Higgins, George W. Warren. the late C. R. Higgins and W. A. Tyler, who retired February 8. A quiet run on the bank followed the resignation of Tyler. Withdrawing depositors were principally from the rural districts. The run developed among Seaside and Gearhart depositors immediately after the change in presidents, but appeared to have subsided after few days, only to be resumed seriously early this week, with rural depositors from both sides of the Columbia taking the lead in withdrawels. In their resolution closing the bank the directors cited these facts, saying that there had been no active run but that the steady withdrawals of the past two weeks had depleted reserves to such an extent that the available quick assets had been reduced. making it advisable to close the bank for the protection of the depositors.
Portland bankers said that their information tended to show that wartime loans, the disastrous fire of five years ago and slow real estate loans were responsible for the crash. There was no disposition to believe that the bank had not been operated in prudent manner. It is understood that W. C. Crawley, federal bank examiner of Portland, is in charge.
2.February 23, 1928Evening Baker HeraldBaker City, OR
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Article Text
Astoria Bank Fails to Open Doors Today
Astoria National bank suspended operations today until it can collect Old loans and rebuild its reserves, Depletion of its reserves was not expected to mean a loss to depositors. The suspension was under instructions from National Bank Examiner Crawley.
3.February 23, 1928Corvallis Gazette-TimesCorvallis, OR
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Article Text
Astoria National Bank Closes Doors Today
ASTORIA, Feb. 23. (Associated Astoria National bank suspended operations today until can collect on loans and rebuild its reserves. The repletion of the reserve was not expected to mean a loss to the depositors. The suspension was under instructions of National Bank Examiner Crawley.
4.February 23, 1928Albany Democrat-HeraldAlbany, OR
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Article Text
BIG ASTORIA BANK'S
Run Following Retirement Of President Causes Directors to Act
ASTORIA. Or., Feb. toria National bank, largest financial Institution in this city, did not open for business this morning, the notice the door bank saying that placed, by order the board directors, under the comptroller the currency, with Crawley in charge. Full for the closing bank not yet been disclosed, but known that have been heavy since two weeks The deposits of De31. 1927 Officers the Astoria National W. Utinger, president Palmberg. chairman the board Dr. and Stone, Herbert Ambler, cashier: Tyler, G. Utzinger, Dr. Waffle, Wicks, Emil Streichert, H. Niemi, Stone. Gimere and Prouty, directors. The bank pioneer financial stitution, founded by succeeded president cessively by the late Higgins, George W. the late R. Higgins and W. Tyler, retired February quiet run the bank followed the resignation of Mr. depositors principally from rural districts. The among Senside and Gearbart immediately after the change presidents. but appeared to have subsided after few only to be this week. rural depositors from sides of the Columbia taking the withdrawals their resolution closing the bank, the directors cited these facts, that there had been active run but that steady the weeks had depleted reservés an that the available quick had ing advisable close the bank for the protection of the depositors.
5.February 23, 1928The WorldCoos Bay, OR
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Article Text
Feb. Astoria National bank suspended operations today until it can collect loans and rebuild its reserves. The repletion reserves was not expected to mean loss to depositors. The suspension was under structions of National Bank Examiner Crawley.
6.February 23, 1928The Evening HeraldKlamath Falls, OR
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Article Text
ASTORIA BANK SUSPENDED TO COLLECT LOANS
Astoria National bank at Astoria, Ore., this morning suspended operations until it can collect on loans and rebuild its reserves. The suspension was under instructions of national bank examiner W. C. Crawley. Repletion of reserves was not expected to mean a loss to depositors.
7.February 24, 1928The OregonianPortland, OR
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Article Text
TO CLOSE BANK FORCED
ASTORIA NATIONAL IN HANDS the EXAMINER.
Trouble Declared Due to Heavy Run Following Circulation of False Rumors.
ASTORIA, Or., Feb. 3.-(Special.) The Astoria bank, one of the city' financial institutions, failed to open its doors this morning, patrons of the bank being notified by notice on the that under of the the bank was of currency the federal system, with Crawley, national bank examiner, in charge. Crawley said late today that an initiated last to obthe of the three banks the city toward takthe Astoria Naing over assets tional still under way. "Unless this plan Mr. said, "the only the appointment receiver and the process of liquidation. Utzinger, president of the bank, said this afternoon that the closing had been forced by persistent run on the bank resulting put in cirfrom culation three ago following the resignation of W. A. Tyler as "This run increased steadily during the past two weeks heavy Monday and Tuesday this week that in protect the us the board decided close the bank and the controller of the he said. currency, Mr. Utzinger deposits in the bank Tuesday of this totaled $2,200,000 as with $2 December 31, 1927. of the bank are listed at The bank is
8.February 28, 1928The Daily AstorianAstoria, OR
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Article Text
for Portland in Tyler Leaves Connection With Closed Astoria National.
No further statements in connection with the Astoria National bank Officers and stockmade yesterday. the institution underholders of held number of inforstood to have conferences yesterday. Tyler, president Califor- the returned from institution, last night that Sunday night, said were being several that but that was improbable ered, any definite decision could be reached several days. leave for Portland Mr. Tyler will in connection with bank this evening matters.
9.May 16, 1928Astoria Evening BudgetAstoria, OR
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Article Text
Receiver of Bank Files Suit On Note
PORTLAND, receiver the Astoria National bank, which closed its doors 23 of this year, filed suit in court Tuesday against steop Securities corporation to recover on promisory note dated December 1927. Attorney fees of $1825 and interest at cent since per the date of the note are asked in addition.
10.May 16, 1928The Daily AstorianAstoria, OR
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Article Text
BANK RECEIVER SUES FOR NOTE
Crawley Seeks to Recover $18,250 and Fees From Clatsop Corporation Securities.
PORTLAND. May was filed today in federal district court by Crawley, receiver of the Astoria National bank, which closed its doors Feb. 23, against the Clatsop Securities corporation, to recover $18,250 leged due on promissory note cuted by the securities company on December 22, 1927. Interest the rate per cent and attorney fees of $1825 also sought.
11.May 16, 1928The Register-GuardEugene, OR
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Article Text
Bank Receiver Files Suit PORTLAND, Ore., May 15. filed today federal district court by W. Crawreceiver the Astoria National bank which closed Its doors February 23, against the Clatsop Securities corporation, to recover alleged due promissory note executed by the security on December 1927. company Interest the rate cent and attorney fees of $1825 also sought.
12.May 23, 1928The Daily AstorianAstoria, OR
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WILL CLOSE SUMMER
Activities of Organization Will Be Carried on Outdoors Until Autumn. of the local Y. M. Closing building this summer during June, July and August was decided on meeting of the directors noon. The work of the will be continued through the summer an outdoor program conducted by Foster, secretary. The decision to close the building was reached as measure of financial retrenchment primarily made nec essary because funds of the institution were made by the recent Astoria National bank suspension. A. Hampton, president of the sociation board. wishes it made clear that the M. has not been suspended, but has merely put aside its indoor program for the summer. During the summer season Secretary Foster, the only member of the association staff to be retained for that will concentrate on various lines boys outdoor work. This will include two weeks assisting with the daily vocational Bible school. in peration with the churches: supervised swimming and hiking for boys: duct of junior baseball league and other methods of character and body building activities for the youngsters.
13.July 24, 1928The News-ReviewRoseburg, OR
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ASTORIA BANK RECEIVER FILES SUIT FOR $67,500
(Associated Press Leased Wire) PORTLAND. Ore., July 24.W. C. Crawley, receiver for the Astoria National Bank. bankrupt, filed suit in federal today asking a total of $67,500 alleged
14.July 24, 1928The Evening HeraldKlamath Falls, OR
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SUIT FILED BY BANK RECEIVER
July 24. Crawley, receiver for the Astoria National bank. bankfiled suit in federal court today total of $67,500 deputy sheriff, was hunted for alleged due the bank from Nellie E. doing business as Megler Co., Inc., and furPortland but officers admitted ther asked that property owned by the defendant in Clatsop and Wahkiakum counties be sold to meet the demand.
15.August 23, 1928The Daily AstorianAstoria, OR
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Bank Claimants Must File Soon
With the announcement of dividend, reported to be 25 per cent, expected to be made by the Astoria National bank receiver an early date, all persons having claims on the bank of any including those having deposits are notified that unless they file their claims promptly that they cannot participate in the These notices of claim must be filed the bank Mr. Crawley stated yesterday, adding that the time short participation in the first dividend was desired.
16.September 7, 1928Astoria Evening BudgetAstoria, OR
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REIMBURSED FULL FOR FUNDS BANK AT CLOSING
Clatsop county has been fully reimbursed for the which had on deposit in the Astoria National bank at the time it closed its doors in February, according to Treasurer Grant Trullinger. Bonds to protect the county written by the National Surety Co., of New York and the United States Fidelity and Guaranty Co., of Baltimore, and these have just paid the companies county full, including Interest from the date the bank The fund of the Astoria National but this fund was secured bank collateral up by the ample put bank, the county states, that there will be no loss from the closing of the county the bank.
17.February 20, 1929The OregonianPortland, OR
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SCHOOL DISTRICT UPHELD
Bank's Suit to Force Payment of Past-Due Warrants Fails.
Circuit Judge Zimmerman today tained a demurrer filed by the Warrenton school district in suit brought by W. C. Crawley, receiver for the Astoria National bank, to compel the district to all available funds pay past-due warrants held by the bank. held that 85 per cent state and county tax money re-
18.May 4, 1929The OregonianPortland, OR
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Bank Receiver Displaced.
ASTORIA. May John Coles of Oakland. Cal., has H. replaced Crawley, resigned, as receiver for the defunct Astoria Na. tional bank near future for his home California.
19.June 27, 1929The Oregon Daily JournalPortland, OR
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Ex-Bank Receiver At Astoria Dead
Astoria, June 28.-(U.P)-Word was recelved here this morning of the death in Los Angeles of W. C. Crawley, who was received of the defunct Astoria National bank until his resignation few months ago. He had been federal bank examiner working out of Portland for several years. Death resulted from peritonitis following an
20.December 6, 1929Astoria Evening BudgetAstoria, OR
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Deed Filed Gives Gingrich Property Of Defunct Bank
Transfer of Lot Block 66, MeClures, the Astoria National Bank property, from John H. Cole, receiver for the bank, to Gingrich, trustee, is recorded by deed filed today with the county clerk. The bank reserves part of the premises for one year for the purpose of of the bank. Mr. Gingrich heads the group which planning to organize new bank here.
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.
