gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2b8b6c874d8f8d3f
Response Measures
Full suspension, Books examined
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1923-08-14
Date receivership terminated
1925-03-23
OCC cause of failure
Run
Share of assets assessed as good
30.7%
Share of assets assessed as doubtful
53.8%
Share of assets assessed as worthless
15.5%
Description
Directors requested a receiver Aug. 2; government receivership recorded 1923-08-14.
Events (5)
1.November 21, 1902Chartered
Source
historical_nic
2.July 28, 1923Run
Cause Details
Immediate cause not announced in articles; depositors made a run on Saturday.
Newspaper Excerpt
The First National Bank of Colquitt failed to open its doors this morning as a result of a run on the bank Saturday.
Source
newspapers
3.July 30, 1923Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed after the run and unable to meet withdrawals; bank had prior large defalcation (1921) and shrinking deposits.
Newspaper Excerpt
The First National Bank of Colquitt failed to open its doors this morning as a result of a run on the bank Saturday.
Source
newspapers
4.August 14, 1923Receivership
Source
historical_nic
5.August 14, 1923Receivership
Newspaper Excerpt
the directors decided that it would be advisable to liquidate the bank and requested the Comptroller of the Currency to appoint a receiver to wind up its business.
Source
newspapers
Newspaper Articles (11)
1.July 30, 1923The Macon NewsMacon, GA
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Article Text
Colquitt Bank Fails Today to Reopen Doors
Colquitt, Ga., July 30.—The First National Bank of Colquitt failed to open its doors this morning as a result of a run on the bank Saturday. The cause of the run has not been announced.
This bank was closed temporarily in October, 1921, following a defalcation of M. Watson, then president, for over $100,000, of which he was convicted and for which he is now serving sentence in the Atlanta Federal prison. The bank reopened after the stockholders had paid an assessment of 100 per cent.
The bank has a capital stock of $50,000 and is reported to have had deposits of $30,000.
2.July 30, 1923The Columbus LedgerColumbus, GA
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Article Text
Colquitt Bank Fails to Open Following Run
Colquitt, Ga., July 30.—The First National bank of Colquitt failed to open its doors this morning, as a result of a run upon the bank Saturday. The cause of the run has not been announced.
This bank was closed temporarily in October, 1921, following a defalcation of S. M. Watson, then president for over $100,000, of which he was convicted and for which he is now serving sentence in Atlanta federal prison. The bank reopened after the stockholders had paid an assessment of 100 per cent.
The bank has a capital stock of $50,000 and is reported to have had deposits of $30,000.
3.July 31, 1923The TennesseanNashville, TN
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Article Text
Georgia Bank Closed Following Day's Run
(By Associated Press.)
Colquitt, Ga., July 30.—The First National Bank of Colquitt failed to open its doors today as a result of a run on the bank Saturday. The cause of the run has not been announced. This bank was closed temporarily in October, 1921, following a defalcation of S. M. Watson, the president, for over $100,000, of which he was convicted and for which he is now serving sentence in the Atlanta Federal prison. The bank reopened after the stockholders had paid an assessment of 100 per cent. The bank has a capital stock of $50,000, and is reported to have had deposits of $30,000.
4.July 31, 1923The Selma Times-JournalSelma, AL
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Article Text
COLQUITT BANK CLOSES
COLQUITT, Ga., July 30.— First National Bank of Colquitt failed to open its doors this morning as a result of a run on the bank Saturday. The cause of the run has not been announced.
5.July 31, 1923Bristol Herald CourierBristol, TN
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Article Text
NATIONAL BANK OF COLQUITT CLOSED
Colquitt, Ga., July 30. — The First National Bank of Colquitt failed to open its doors this morning as a result of a run on the bank Saturday. The cause of the run has not been announced.
The bank was closed temporarily in October, 1921, following a defalcation of S. M. Watson, then president for over $100,000 of which he was convicted and for which he is now serving sentence in Atlanta federal prison. The bank reopened after the stockholders had paid on assessment of 100 per cent.
The bank has a capital stock of $50,000 and is reported to have had deposits of $30,000.
COLQUITT BANK DOORS AGAIN SHUT AFTER RUN
COLQUITT, Ga., July 30.—The First National bank of Colquitt failed to open its doors this morning as a result of a run on the bank Saturday. The cause of the run has not been announced. This bank was closed temporarily in October, 1921, following a defalcation of S. M. Watson, then president, for over $100,000, of which he was convicted and for which he is now serving sentence in Atlanta federal prison. The bank reopened after the stockholders had paid an assessment of 100 per cent. The bank has a capital stock of $50,000 and is reported to have had deposits of $30,000.
7.July 31, 1923The Macon TelegraphMacon, GA
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Article Text
COLQUITT BANK IS CLOSED
Doors Fail to Open Following Run During Saturday
COLQUITT, Ga., July 30.—The First National Bank of Colquitt failed to open its doors this morning as a result of a run on the bank Saturday. The cause of the run has not been announced.
This bank was closed temporarily in October, 1921, following a defalcation of M. Watson, then president, for over $100,000, of which he was convicted and is now serving sentence in Atlanta Federal Prison. The bank re-opened
8.August 1, 1923Americus Times-RecorderAmericus, GA
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Article Text
BANK OF COLQUITT FAILS TO OPEN DOORS COLQUITT, Aug. 1.-The First National Bank of Colquitt failed to open its doors for business here said of a run on the bank during Saturday. The cause of the run was not announced. The bank had a capital stock of $50,000, with deposits of $30,000.
9.August 1, 1923Americus Times-RecorderAmericus, GA
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Article Text
BANK OF COLQUITT FAILS TO OPEN DOORS
COLQUITT, Aug. 1.—The First National Bank of Colquitt failed to open its doors for business here said of a run on the bank during Saturday. The cause of the run was not announced. The bank had a capital stock of $50,000, with deposits of $30,000.
10.August 3, 1923The Macon TelegraphMacon, GA
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Article Text
DECIDE TO LIQUIDATE BANK AT COLQUITT, GA.
Examiner Completes Report On First National, Which Closed After Run On Saturday
COLQUITT, Ga., Aug. 2.—The examiner in charge of the First National Bank of Colquitt, which closed its doors Monday morning following a run made on the bank by depositors on last Saturday, made his report to the directors of the bank today and after a full consideration of the report and of the affairs of the bank, the directors decided that it would be advisable to liquidate the bank and requested the Comptroller of the Currency to appoint a receiver to wind up its business.
The bank has a capital stock of $50,000 and had approximately $30,000 on deposit at the time it closed. While the immediate cause of the failure was a run of depositors, the bank had never been able to gain the confidence of the community since its closed temporarily on account of the defalcation of its former president, S. M. Watson, in October, 1921, the shortage at that time amounting to $112,000. There had been a gradual shrinkage of deposits during the Summer and the bank was not in position to take care of a further withdrawal.
11.August 7, 1923The Dawson NewsDawson, GA
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Article Text
BANK OF COLQUITT CLOSED AFTER RUN FAILS TO OPEN DOORS AFTER FLURRY. FORMER CASHIER IN FEDERAL PRISON. COLQUITT, Ga.-The First National bank of Colquitt failed to open its doors this morning as a result of a run on the bank. The cause of the run has not been announced. This bank was closed temporarily in October, 1921, following a defalcation of M. Watson, then president, for over $100,000, of which he was convicted and for which he is now serving sentence in Atlanta federal prison. The bank reopened after the stockholders had paid an assessment of 100 per cent. The bank has a capital stock of $50,000 and is reported to have had deposits of $30,000..
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.
