gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0d390d8cb509de39
Response Measures
Full suspension, Books examined
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1911-12-07
Date receivership terminated
1915-03-25
OCC cause of failure
Losses
Share of assets assessed as good
38.8%
Share of assets assessed as doubtful
36.2%
Share of assets assessed as worthless
24.9%
Description
Directors posted suspension Dec 4 and Comptroller/receiver took charge within days; failure followed suspension.
Events (5)
1.January 30, 1905Chartered
Source
historical_nic
2.December 4, 1911Run
Cause
Rumor Or Misinformation
Cause Details
Prolonged unfavorable rumors depleted deposits and triggered heavy withdrawals leading directors to suspend.
Measures
Directors adopted a resolution to suspend payments; bank failed to open doors.
Newspaper Excerpt
Rumors, said to be unfavorable to its business standing, circulated for more than a year, so depleted the bank's deposits that the directors late yesterday adopted a resolution to suspend.
Source
newspapers
3.December 4, 1911Suspension
Cause
Rumor Or Misinformation
Cause Details
Board resolution to suspend followed deposit depletion from circulating rumors and heavy withdrawals.
Newspaper Excerpt
The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency.
Source
newspapers
4.December 7, 1911Receivership
Source
historical_nic
5.December 7, 1911Receivership
Newspaper Excerpt
Appointed Bank Receiver. Richard W. Goodhart ... has been appointed receiver of the Union National Bank, of Columbus, Ohio.
Source
newspapers
Newspaper Articles (20)
1.December 4, 1911Evening StarWashington, DC
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Article Text
Ohio Bank Closes Its Doors. COLUMBUS, Ohio, December 4.-The Union National Bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the baik is now in the hands of the controller of the currency.
BANK SUSPENDS. (By Associated Press.) COLUMBUS, O., Dec. 4.-The Union National bank today posted a notice of suspension by resolution of the board of directors. It is further stated the bank is now in the hands of the comptroller of currency.
3.December 4, 1911The Hattiesburg NewsHattiesburg, MS
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Article Text
(By Associated Press.) Columbus, Ohio, Dec. 4.-The Union National Bank suspended today by a resolution of the Board of Directors. The bank is now in the hands of the Comptroller of the Currency. It is not believed the suspension will atfeet the financial situation. The
4.December 4, 1911The Barre Daily TimesBarre, VT
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Article Text
COLUMBUS BANK IN TROUBLE TO-DAY Union National Bank of the Ohio City Suspended To-day and Is Now in Hands of the Comptroller of the Currency. Columbus, O., Dec. 4.-The Union National bank of this city to-day posted a notice of suspension by the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. It is not thought that the closing of the bank will have any effect on the local financial situation. The capital stock of the Union National bank is $750,000, and its surplus is $100,000. It is estimated that the deposits of the institution approach $2,000,000.
5.December 4, 1911Omaha Daily BeeOmaha, NE
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Article Text
Columbus, 0., Bank Suspends Business COLUMBUS. O., Dec. 4.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency, As the action of the directors had been expected it is not thought the closing of the bank will have any effect on the local financial situation. The capital stock of the bank was $750,000, its surplus $100,000 and it is estimated that its deposits approximated $2,000.000. WASHINGTON Dec. 4.-The failure of the Columbus Union National bank involved a possible loss of about $860,000. according to reports to the comptroller of the currency. Assets to that extent covering the institution's capital, surplus and undivided profits appeared to be of questionable value
6.December 4, 1911El Paso HeraldEl Paso, TX
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Article Text
COLUMBUS, OHIO. BANK SUSPENDS PAYMENTS Columbus, Ohio, Dec. 4.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is ECW in the hands of the controler of the currency. The failure is said to involve a possible loss of $860,000.
7.December 4, 1911Evening Times-RepublicanMarshalltown, IA
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Article Text
Ohio Bank Suspends. Columbus, Ohio, Dec. 4.-The Union National Bank today posted a notice of suspension, by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency.
8.December 4, 1911The Marion Daily MirrorMarion, OH
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Article Text
COLUMBUS BANK FAILS TO OPEN DOORS Columbus, O,, Dec. 4.-The Union National bank, of Columbus, failed to open its doors for business today. Rumors, said to be unfavorable to its business standing, circulated for more than a year, so depleted the bank's deposits that the directors late yesterday adopted a resolution to suspend. National Bank Examiner R. W. Goodhart has (been placed in charge of the bank and will liquidate it. The bank's last report on September 1, showed deposits of $2,374,099. and surplus and undivided profits of $109,209. Its capital was $750,000.
9.December 5, 1911Norwich BulletinNorwich, CT
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Article Text
The Union National Bank of Columbus, O., yesterday posted a notice of suspension by a resolution of the board of directors.
COLUMBUS BANK IS FORCED TO CLOSE DOORS Union National Bank Suspends: Possible Loss of $360,000 Threatened. COLUMBUS, O., Dec. t.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency.
CLOSES Doors Does Union National Bank Of Columbus Columbus, O., Dec. 4-The Union National bank, at High and Spring streets, capital stock $750,000, surplus $100,000 suspended business Monday morning, as a result of a resolution of its board or directors passed Sunday night. The bank is now in the hands of the United States comptroller of the currency.
12.December 8, 1911The Washington HeraldWashington, DC
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Article Text
Appointed Bank Receiver. Richard W. Goodhart, national bank examiner and well known in banking circles throughout the country, has been appointed receiver of the Union National Bank, of Columbus, Ohio.
13.December 8, 1911The CommonwealthGreenwood, MS
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Article Text
Columbus Bank Suspends. Columbus, 0.-The Union National Bank Monday posted a notice of suspension by a resolution of the board of directors. The bank's capital stovck was $750,000, and its deposits approximated $2,000,000.
14.December 9, 1911The Diamond DrillCrystal Falls, MI
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Article Text
COLUMBUS, OHIO-The Union National bank posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. --
15.December 14, 1911Iron County RegisterIronton, MO
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Article Text
Ohio Bank Solvent, but Closes. Columbus, Ohio.-The State bank at Pleasantville has been forced to close .temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days.
16.December 14, 1911Marble Hill PressMarble Hill, MO
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Article Text
Ohio Bank Solvent, but Closes. Columbus, Ohio-The State bank at Pleasantville has been forced to close temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days.
Bank is Closed by Rumors. The Union national bank of Columbus have decided to close its doors. Rumors unfavorable to its business standing, circulated for more than a year, so depleted the bank's deposits that the directors adopted a resolution to suspend. R. W. Goodhart, national bank examiner, has been placed in charge of the bank and will liquidate it. The bank's last report on Sept. 1 showed deposits of $2,374,099 and surplus and undivided profits of $109,209. Its capital was $750,000. The Union national bank figured in the suits brought by the state in 1909 to recover interest on state money deposited on private accounts by former state treasurers.
18.December 15, 1911Greene County HeraldLeakesville, MS
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Article Text
Ohio Bank Solvent, but Closes. Columbus, Ohio.-The State bank at Pleasantville has been forced to close temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days
19.January 30, 1912The Marion Daily MirrorMarion, OH
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Article Text
Depositors Get 60 Per Cent. Columbus, O., Jan. 30.-All depositors of the Union National bank, which failed December 4. will get a sixty per cent. dividend Friday, February 1, providing they have proof of their claims, according to official announcement made, by Robert W. Goodhardt, receiver.
20.October 23, 1914Fulton County TribuneWauseon, OH
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Article Text
State Gets Bank Claim. Columbus. - The state of Ohio will receive $7,500 from the receivers of the Union National bank of Columbus in compromise of the claim of the state for interest of state funds illegally deposited in the bank by former state treasurers. The adjustment of the controversy was completed here. The sum is not all the state might have demanded, but as the bank was insolvent and being liquidated the state decided to adjust the claim, secure what it could and save the expense and delay of litigation that might have been long continued. With this payment there has been recovered by Attorney General Timothy S. Hogan over $93,000 interest claims for the benefit of the state treasury.
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.