Bank of Excel - Excel, AL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 11, 1931
Location: Excel, Alabama (31.428, -87.341)

Metadata

Model: gpt-5-mini
Short Digest: 8fb6766e

Response Measures

None

Description

Article (Nov 11, 1931) states the Bank of Excel will close and refund all depositors, asking them to withdraw funds — a voluntary winding up rather than a run or regulatory shutdown. No mention of a run or receiver; closure appears permanent.

Events (1)

1. November 11, 1931 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank officials decided to close permanently and refund all depositors because there was no profit in running the bank; depositors were asked to withdraw funds.
Newspaper Excerpt: The Bank of Excel is going to close its doors and hang for rent sign on the building... Officials of the bank have decided to refund all money to depositors and go out of business
Source: newspapers

Newspaper Articles (1)

1. November 11, 1931 The Luverne Journal and News Luverne, AL

Article from The Luverne Journal and News, November 11, 1931

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Article Text

All Depositors To Be Paid As Bank Closes EXCEL, Ala.,-The Bank of Excel is going to close its doors and hang for rent" sign on the builidng, but there-won't be an investigation. Officials of the bank have decided to refund all money to depositors and go out of business because there is no profit in running a bank here anymore. Depositors have been asked to withdraw their funds. W. B. Phillips of near Union Springs spent the past week with his daugh ter, Mrs. J. A. McLeod and family.