Rochester Savings Bank - Rochester, NH

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: November 18, 1897
Location: Rochester, New Hampshire (43.305, -70.976)

Metadata

Model: gpt-5-mini
Short Digest: 41f6d204

Response Measures

None

Description

Directors voted to place the institution in liquidation (voluntary). Article explicitly says there has been no run and the bank examiner was not involved; deposits fell below $200,000 and directors decided on liquidation. Date of decision reported as November 18, 1897.

Events (1)

1. November 18, 1897 Suspension

Cause: Voluntary Liquidation
Cause Details: Directors voted to place the bank in liquidation because deposits had gradually decreased to less than $200,000 and business fell off; decision was voluntary and not prompted by a run or examiner action.
Newspaper Excerpt: The directors of the Rochester Savings bank have voted to place the institution in liquidation. ... There has been no run on the institution and the bank examiner has had nothing to do with the decision of the directors.
Source: newspapers

Newspaper Articles (1)

1. November 19, 1897 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, November 19, 1897

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Article Text

ROCHESTER BANK LIQUIDATES. 08010 Rochester, N. H., November 18.-The directors of the Rochester Savings bank have voted to place the instit tion in liquidation. The officials state that the bank's business has been gradually falling off until the deposits amount to less than $200,000. This action has been under consideration for some time. The final decision in the matter was reached by the directors at a meeting last night. The announcement of the vote of the officials soday was accompanied by a statement that the affairs of the bank are in good condition, as it holds a high class of securieties which can readily be converted into cash and depositors will be paid in full together with interest The bank officers say that the deposits have be n gradt ally decreasing and that very little money has been received during the past two years. There has been no run on the institution and the bank ex aminer has had no 1.1 g to do with the decision of the directors The bank was incorporated July 3, 1872.