gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2c01aab97067edce
Response Measures
None
Events (3)
1.August 7, 1930Run
Cause
Local Banks
Cause Details
Run was triggered by the closing/threatened failure of the Citizens Bank and Trust Company in New Bern, producing withdrawals at Eastern.
Measures
Closed temporarily to protect depositors; directors appointed committee to investigate reopening.
Newspaper Excerpt
The failure of the Citizens Bank to open this morning caused run on the Eastern Bank and Trust Company which closed temporarily to protect its depositors.
Source
newspapers
2.August 7, 1930Suspension
Cause
Local Banks
Cause Details
Bank suspended operations as a precautionary response to the run precipitated by the Citizens Bank's closure.
Newspaper Excerpt
Two hours later the Eastern Bank and Trust Co. was closed after a small run.
Source
newspapers
3.October 3, 1930Reopening
Newspaper Excerpt
The Eastern Bank and Trust company, which closed its doors here August 7 ... will reopen for business tomorrow morning, it was announced last night after a directors meeting.
Two New Bern Banks Temporarily Closed
NEW BERN, N. C., Aug. Citizens Bank and Trust Com pany, with resources of over million dollars failed to for business open today.
A notice posted on the doors said that the directors of the banking in stitution had ordered the bank closed because of threatened withdrawals. NEW BERN, N C., Aug. The failure of the Citizens Bank to open this morning caused run on the Eastern Bank and Trust Company which closed temporarily to protect its depositors. It is said that both banks will soon re-open.
2.August 7, 1930St. Louis Post-DispatchSt. Louis, MO
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Article Text
Two Depositories at Newbern, N. C., Shut Doors. By the Associated Press. NEWBERN. N. C., Aug. 7.-The only banks in Newbern closed their doors today. A notice posted on the door of the Citiens' Bank and Trust Co. said the bank was closed because of threatened withdrawals. Two hours later the Eastern Bank and Trust Co. was closed after a small run. The Citizens' Bank had a capital of $50,000 and total re-
3.August 8, 1930The Index-JournalGreenwood, SC
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Article Text
Examiner To Cope With Bank Trouble
NEW BERN, Aug. Examiner Taylor, of the state banking department, was in New Bern today to see what could be done about giving New Bern banking facilities. Chief Examiner John Mitchell was expected later in the day. Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust company, closed their doors here yesterday, leaving New Bern with only an industrial bank. Five branches of the Eastern in this section also closed. The First National Bank suspended business here last October.
4.August 8, 1930The Modesto BeeModesto, CA
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Article Text
Two North Carolina Banks Close Doors
NEWBERN, N C., Aug. 7.-(P) Citizens Bank and Trust Company the Eastern Bank and Trust Company their doors here to-day leaving city without a financial institution. notice posted on the door of the Citizens Bank Company being closed because of withhours the Eastern Bank and Trust closed in the fact of small run depositors.
5.August 8, 1930The Columbia RecordColumbia, SC
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Article Text
EXAMINER INVESTIGATES NEW BERN BANK FAILURES
NEW BERN, N. Aug. -Examiner Taylor, of the state banking department, was in New Bern today see what could be done about giving New Bern banking facilities. Chief ExaminJohn Mitchell was expected later in the day. Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust company, closed their doors here yesterday, leaving New Bern with only an industrial bank. Five branches of the Eastin this section also closed. The First bank suspended business last October.
6.August 8, 1930The Richmond News LeaderRichmond, VA
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Article Text
NEW BANKING FACILITIES ARE CUT
Two Banks Closed and State Examiner Now Studying Conditions.
Asosciated Press Taylor, an examiner of the state banking department, was in New Bern today to see could be done about giving New Bern banking facilities. Chief Examiner John Mitchell was expected later Two banks, the Citizens' Bank and Trust Company, closed their doors here yesterday, leaving New Bern with only Morris Plan bank. Five branches of the Eastern this section also closed. The First National bank suspended here last October. Officials of the two banks today reiterated that the institutions are sound and that closing was precautionary measure. The News Leader covers Richmond Roof.
7.August 8, 1930The Durham SunDurham, NC
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Article Text
NEW BERN HOPES TO REOPEN BANKS
Examiner Taylor, of the state banking department, was in New Bern today to see what could be done about giving New Bern banking facilities. Chief Examiner John Mitchell was expected later in the day.
Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust closed their doors here yesterday. leaving New Bern with only an industrial bank. Five branches of the Eastern in this section also closed. The First National bank suspended business here last October Officials of the two banks today reiterated statements that the are sound. and that (Continued on Page Eleven-A)
STATE BANK EXAMINER TRIES TO HELP NEWBERN
Two Banks Closed Doors Yesterday as Precautionary Move—Directors Say They Are Sound.
New Bern, Aug. 8. —(AP)— Examiner C. I. Taylor, of the State Banking Department, was in New Bern today to see what could be done about giving New Bern banking facilities. Chief Examiner John Mitchell was expected later in the day.
Two banks, the Citizens Bank and Trust company and the Eastern Bank and Trust company, closed their doors here yesterday, leaving New Bern with only an industrial bank. Five branches of the Eastern in this section also closed. The First National bank suspended business here last October.
Officials of the two banks today reiterated statements that the institutions are sound, and that closing was a precautionary measure.
President W. J. Swan, of the Eastern, declared his bank would not have closed had officials not been under the impression that it could reopen immediately, or as soon as public confidence was restored.
Directors of the Eastern late yesterday appointed a committee to investigate the possibilities of immediate reopening.
Out Plans For Banking Facilities
NEW aminer the banking New Bern today about Bern bankChief Examiner John Mitchell expected later in the the Citizens Bank and Trust company the Eastern Bank Trust closed their doors here leaving New Bern industrial branches the Eastern section closed The National Bank suspended business October
10.August 8, 1930Ledger-StarNorfolk, VA
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Article Text
PREPARE REOPENING
Two Closed Financial Institutions At New Bern Said To Be Sound
New Bern, C., Aug. Taylor, examiner the state banking was New today what could done about giving Bern bankfacilities. Chief Examiner Mitchell expected later in banks, the Citizens Bank and Trust Company the Eastern and Trust Company, closed doors here yesterday, leaving Bern withonly Bank branches the Eastsection closed. Bank suspended last Officials the banks today reiterated stitutions sound and that closprecautionary President W. Swan the declared his bank would closed had, officials been the impression that could reopen immediately soon public confidence was restored. Directors the Eastern appointed investigate sibilities reopening
11.August 11, 1930Statesville Record and LandmarkStatesville, NC
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Article Text
BANK by Rumors Cause Hysteria Fanned Banks to Close Remaining National Failed Their October. Citizen's Bern, Bank Company and the Bank and Trust Company which yesterday will until arrival of John Mitchell, chief bank examiner, officials said today. meantime Taylor, another bank examiner, in charge.
New Bern, Aug. Bank Examiner John Mitchell assistfrom the banking department of the State Corporation Commission are here take charge of the Citizens Bank Trust Company the Bank and Trust Company, this both which closed their docis Thursday morning precautionary measures against and Since last October the First New has the hands that city bank except the Plan bank oped that one the banks yesterday are said to be good financial shape. Citizens bank closed five minutes before opening time, large throng depositors was noted waiting outside withdeposits. directors met decided After gradual withdrawals and the spread rumors during the last there large withdrawals Wednesday. Cashier Scott states that the bank was amply able to erate under normal trend but that institution could stand unusually Eastern bank remained open for almost two and half hours during the morning but depositors withdrew funds and there ind cations that the hysteria would grow. closing of this bank affects the home here its five branches Arapahoe, Maysville, Oriental, Bayboro and Vanceboro.
12.August 11, 1930Statesville Record and LandmarkStatesville, NC
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Article Text
Wilson Company to Occupy Citizens Bank EastBank and Trust Co. Given Permission Reopen. New Bern, Aug. ference State Bank Examiner John Mitchell Friday afternoon Swan and John Weskett, and vice president of the Eastern and Trust that had given the bank here, they open obtain the of the possible that the bank tors. reopened here within the next local branch the Branch Banking and Trust Company, of Wilopened here this morning at Harris, sistant vice president of the will be in charge of the local Although the new bank will have connection whatever with any the former banks, be housed Bank Trust Company audit Citizens Bank books will be separ ately the Baxter, of Raleigh, the liquidating of the banking division the state comTaylor, of Raleigh, of the banking department of the state corcommission, took charge of poration the Citizens Bank Trust the Eastern Bank and Company Trust Company, which closed Thursas precautionary measures heavy and withdrawals. prevent
13.October 4, 1930The News and ObserverRaleigh, NC
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Article Text
NEW BERN BANK WILL REOPEN ITS DOORS TODAY Depositors Agree to Allow Their Money to Remain Until 1933
New Bern, Oct. 3.-The Eastern Bank and Trust company, which closed its doors here August 7 fol. lowing the closing of the Citizens Bank and Trust Company and the development of run on the Eastern bank, will reopen for business to morrow morning, it was announced last night after a directors meeting. The reopening of the institution
14.October 4, 1930News and RecordGreensboro, NC
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Article Text
BANK AT NEW BERN WILL REOPEN TODAY
Re-Opening of Eastern Bank and Trust Company Is By State Officials.
(Special Dally New Eastern Bank and Trust closed doors August lowing the Citizens Bank and the run the Eastern bank, business directors The reopening institution follows an official of the signatures obtained Practically were The agreed allow their money without interest the 20, Full payments funds for the percentage made President Swan stated today the opening have made the and by the department
Havana Bank to Reopen. in the near future Banco closed since last Saturday when suspension the directors, was rumored here
15.October 6, 1930Statesville Record and LandmarkStatesville, NC
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Article Text
BANK AT NEW BERN WILL REOPEN TODAY
Re-Opening of Eastern Bank and Trust Company Is Permitted By
New Oct. Eastern Bank and Trust closhere August following closing of the Bank Trust the of run on the will open for today, after meeting. The follows check the natures obtained ments. cent the depositors were thus. The agreed their thout until 1932. Full funds for the deposits made upon demand. Swan stated today. All opening have by the officials and the plans state bankdepartment.
EASTERN TRUST CO. IN IMPROVED CONDITION
NEW BERN, Jan. 17.-With-th exception of J. Vernon Blades, who was president of the defunct First National Bank whose name was 0. mitted at his own request, directors of the Eastern Bank and Trust Com pany were re-elected at the annual stockholders meeting. The local banl with its five branches in the section was reopened under the deferred pay ment plan. following its temporary colsing on August 7. in the face of a heavy run after the closing of the other local bank.
Pres dent W. J. Swan reports that the institution is getting along as well as can reasonably be expected Since the reopening through Thurs day there have been new accounts opened there every day, he says. The new deposits are reported to be lar ger than in the statement for December 31, when they. were $249, 876.89.
17.January 17, 1931The News and ObserverRaleigh, NC
Article Text
TRUST CO. IN EASTERN IMPROVED CONDITION Was On Deferred Reopened Payment Plan Following Closing Due To
New Bern. Jan. the Vernon Blades, president of the defunct First National whose cmitted his request. directhe Eastern and Trust Company meeting. The local with its five branches the section reopened under ferred payment following temporary August face heavy after closing the local Swan the institution getting along can expected. through Thurs day every deposits reported larger than the statement for cember 31. when they were $249,Collections are due to lower and Mr the bank has not paid bills morale the debtors was said good. The institution mitted types except the making loans, states, and hopeful authority will be soon granted the making loans.
18.July 12, 1931Battle Creek EnquirerBattle Creek, MI
Article Text
BANK AT NEW BERN TO REOPEN THIS MORNING
The Charlotte Observer NEW BERN, Oct. 3.-The Eastern Bank and Trust company, which closed its doors here August following the closing of the Citizens Bank and Trust company and the development of run on the Eastern bank, will reopen for busitomorrow morning, it was nounced at 11 o'clock last night after a directors' meeting. The reopening of institution follows an official check of signatures obtained to depositors agreements, practically 90 per cent of depositors having signed up. The depositors agreed to allow their money to rewithout interest at the bank until December 20, 1932.
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.
