First National Bank - Santa Cruz, CA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 8403
Charter Number: 8403
Start Date: July 1, 1930*
Location: Santa Cruz, California (36.974, -122.031)

Metadata

Model: gpt-5-mini
Short Digest: c1aaaedc

Response Measures

Full suspension

Other: Article text is OCR-corrupted; describes prior heavy run, placement of bank in hands of receivers, and a deal with Bank of Italy to pay creditors and dividends.

Description

OCR'd article (Fresno Bee, 1931-02-27) reports that First National Bank (Santa Cruz) suffered a heavy run in July which led to the bank being placed 'involuntary' (in the hands of receivers) and later dealt with the Bank of Italy to pay creditors. The article attributes the run to rumors about bank officials. Dates in the article refer to a past July; newspaper date is Feb 27, 1931, so I record the July as 1930-07-00 (same fiscal year preceding Feb 1931).

Events (4)

1. October 16, 1906 Chartered

Source: historical_nic

2. April 12, 1927 Voluntary Liquidation

Source: historical_nic

3. July 1, 1930* Receivership

Newspaper Excerpt: The First National Bank was placed hands July ... was placed involuntary bank ... Through deal with the Bank of Italy the bank soon paid per creditors and efforts are now ing made to pay another dividend within few [months/years].
Source: newspapers

4. July 1, 1930* Run

Cause: Rumor Or Misinformation
Cause Details: Heavy run in July reportedly driven by rumors concerning the bank's officials
Measures: None specified in article besides later disposition to receivers/Bank of Italy
Newspaper Excerpt: The First National Bank was placed hands July but heavy run the said by officers at that time have rumors bearing on the the bank's officials
Source: newspapers

Newspaper Articles (1)

1. February 27, 1931 The Fresno Bee Fresno, CA

Article from The Fresno Bee, February 27, 1931

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Article Text

MRS. THORNEWILL THINKS HUSBAND SANTA CRUZ, Feb. Three each his wife from blame, made by LesA. truck his death bed were records to-day the trial of Mrs. Helene Grant charged with her husband's murder, moved to close The statements were introduced between and Mrs. Thornewill was placed on the witstand by her to the with Lilac Forest cabin the night One was made by wife lay in Santa Cruz hos January 6th Thornewill died night Another signed by the former Mounted Policein the of witnesses the day the shooting Thinks He Fired Shot Mrs beThornewill had written truth the She declared believed wanted his own pressure the revolver trigger which the weapon. Leslie Thornewill do make with reference me last night, while was at Milton Main, one of the stateHelene asked me home with her refused drinking and was obstinate. then she was should her me she in her hand. mediately tried take the gun from and we got and the gun discharged times realized that shot that the upon me take her completely liability in the matter any (Continued from Page 1) this department must be presented with some specific evidence before making an Investigation as we do act bank He would not reveal what other ters are under Layng the investigation by his sufficlent bring the charges against Trimble that action that had been placed the hands the and cashier safe keeping. The amount he said was in government and bonds. the name the probe bank transaction here saying that operatives Iener Nielsen, for his will regard to charge him within few The First National Bank was placed hands July but heavy run the said by officers at that time have rumors bearing on the the bank's officials with the Corporation, which was placed involuntary bank Through deal with the Bank of Italy the bank soon paid per creditors and efforts are now ing made to pay another dividend within few