1577. Unionville Bank & Trust Company (Unionville, CT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
March 1, 1933*
Location
Unionville, Connecticut (41.758, -72.886)

Metadata

Model
gpt-5-mini
Short Digest
733cae045f98a695

Response Measures

None

Description

The articles list Unionville Bank & Trust Company among other closed banks (July 25, 1935). A later article (Apr 21, 1936) discusses assets of 14 closed banks resulting from the bank moratorium of 1933 and states the state bank department took over all receiverships last June (June 1935). This indicates the bank suspended operations during the moratorium/closing period and remained closed under receivership (state takeover), i.e., a suspension that resulted in closure. Dates are not given precisely for the bank itself; the moratorium/closings began in 1933 and the state takeover of receiverships occurred June 1935.

Events (3)
1. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Closings resulted from the 1933 bank moratorium and subsequent actions by the state banking authorities.
Newspaper Excerpt
closings in various parts of the state, resulting from the bank moratorium of 1933
Source
newspapers
2. June 1, 1935* Receivership
Newspaper Excerpt
the state bank department, by authority of the last session of the legislature, took over all receiverships last June and no additional dividends have since been granted (Apr 21, 1936 article referring to June takeover).
Source
newspapers
3. July 25, 1935 Other
Newspaper Excerpt
Other closed banks in the state are: ... Unionville Bank and Trust; ... (listed among closed banks).
Source
newspapers

Newspaper Articles (2)
1. July 25, 1935 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, July 25, 1935

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Article Text

$537,852.10 Other Closed Banks Other closed banks in the state are: The American Bank and Trust, Bridgeport; Broadway Bank and Trust, Bridgeport; Broadway Bank and Trust, New Haven; Cheshire Bank and Trust; Citizens Bank and Trust, New Haven; City Bank and Trust Bridgeport: Commercial Bank nad Trust, New Britain; Hamden Bank and Trust; Mechanics Bank and Trust, New Haven; Naugatuck Bank and Trust; Unionville Bank and Trust; West Haven Bank and Trust; Windsor Locks Trust and Safe Deposit. The receiver for the Naugatuck Bank and Trust company will resign at a hearing to be held here next Wednesday morning at 11 o'clock.

2. April 21, 1936 The Waterbury Democrat Waterbury, CT
Article from The Waterbury Democrat, April 21, 1936

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Article Text

ASSETS SHRINK IN CLOSED BANKS Fourteen of Them Re= ported By Bank Receiv= er; Dividends Came / Hartford, Conn., April 21-(UP) -An approximate shrinkage of $9,500,000 in the assets of 14 closed banks was reported today by the state banking commission, a part of which probably will be borne by depositors with claims ranging from 15 to 80 per cent. Since the closings in various parts of the state, resulting from the bank moratorium of 1933, assets were estimated to have fallen off from 31 to 21 million dollars. However, dividends declared under private receivership scaled from 20 to 80 per cent on savings accounts and from 15 to 50 per cent on commercial deposits. Took Over Them All The state bank department, by authority of the last session of the legislature, took over all receiverships last June and no additional dividends have since been granted. However, officials of the department indicated that when conditions warranted, the superior court would be petitioned for permission to reimburse both commersavings depositors in proto the portion cial and amount of liquidation. An improvement of nearly $1,000,000 in the condition of all of the banks was noted by commissioner Walter Perry in his report I to superior court late yesterday. Principal losses, thus far, have bene in the securities and mortgage fields. Banks Involved I The banks involved are the American Bank & Trust Co. and Commercial Bank & Trust Co., Bridgeport; Citizens Bank & Trust Co. and Broadway Bank & Trust Co., New Haven; Hamden Bank & Trust 1 Co.; Manchester Bank & Trust So.; 1 West Haven Bank & Trurst Co.; 1 Naugatuck Bank & Trust Co.; 1 Pawcatuck Bank & Trust Co., Stonington; Merchants Trust Co., Waterbury; Commercial Trust Co., New Britain; Unionville Bank & Trust Co.; Windsor Locks Trust & Safe Deposit Co.; City Bank & 8 Trust Co., Hartford.