Alabama Trust & Savings Bank - Jacksonville, AL

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: September 28, 1931
Location: Jacksonville, Alabama (33.814, -85.761)

Metadata

Model: gpt-5-mini
Short Digest: 2d7acf06

Response Measures

None

Description

Article states the Alabama Trust and Savings Bank 'closed at Jacksonville September 28 last year' and that a liquidating agent was appointed and dividends are being paid. Closure was by the state banking department, indicating an enforced suspension leading to permanent closure and liquidation. No run is mentioned.

Events (2)

1. September 28, 1931 Suspension

Cause: Government Action
Cause Details: Closed by the state banking department on Sept. 28 (year inferred as 1931 from article saying 'last year').
Newspaper Excerpt: The Jacksonville bank... was closed by the state banking department
Source: newspapers

2. * Receivership

Newspaper Excerpt: M. Espy, liquidating agent... was appointed liquidating agent by H. H. Montgomery, head of the banking department. Depositors... will receive 15 per cent dividend.
Source: newspapers

Newspaper Articles (1)

1. August 26, 1932 The Anniston Star Anniston, AL

Article from The Anniston Star, August 26, 1932

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Article Text

JACKSONVILLE BANK PAYS 15 Depositors in Defunct Trust and Savings Bank Get Part of Money JACKSONVILLE Aug. positors the defunct Alabama Trust and Savings Bank. which closed at Jacksonville September 28 last year. will receive 15 per cent dividend. The dividend has been declared by M. Espy, liquidating agent, and dividend checks depositin the Jacksonville First Nationwhere depositors may get them. The Jacksonville bank. which had capital stock of $25,000, was closed by the state banking department now serving prison term in connection with its closing Mr. Espy was appointed liquidating agent by H. H. Montgomery. head of the banking department Enough cash was on hand when the bank closed to pay all preferred claims Another dividend to deposttors will be declared later, it was announced today.