Albany State Bank - Albany, OR

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: August 15, 1933
Location: Albany, Oregon (44.637, -123.106)

Metadata

Model: gpt-5-mini
Short Digest: 442819b1

Response Measures

None

Description

Articles (Aug 15–16, 1933) describe the Albany State Bank operating on a restricted/suspended basis since March; state superintendent extended the suspension and authorized phased releases of deposits (5% more commercial effective Aug 18, total 15%; savings release 10%). No run is described and no permanent closure/receivership is reported. The regulator-ordered restriction and phased releases suggest a supervised suspension with steps toward resumption.

Events (1)

1. August 15, 1933 Suspension

Cause: Government Action
Cause Details: State bank superintendent extended restrictions on the bank and authorized phased releases of deposits; supervisory action following earlier holiday restrictions since March; regulator-issued extension until Aug 30, 1933.
Newspaper Excerpt: Albany State bank. suspension extended until August 30. ... an additional release of per cent deposits in the commercial department effective August 18, making total unrestricted deposits in the commercial department of 15 per cent and in savings department of 10 per cent.
Source: newspapers

Newspaper Articles (4)

1. August 15, 1933 Albany Democrat-Herald Albany, OR

Article from Albany Democrat-Herald, August 15, 1933

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Article Text

TO RELEASE DEPOSITS Five Per Cent Additional Cash Will Be Available August 18 From Commercial Accounts. Th Albany State bank. which restricted basis since the holiday last March, was grant15 day extension today by Schramm, state bank superintendent. News the extension received by the bank this morning from the state superintendent Salem. On August 18 the bank will release five cent of its restricted commercial deposits. This will make total release of commercial deposits of 15 per cent. The bank has also released 10 per cent its savings deposits. release will the bank an opportunity call collections during the early when quidation of farm paper will be at its height. The bank making every effort, according E. president, and E. Williamson, cashier, to its assets as rapidly possible. negotiating with the federal farm loan bank and the federal loan bank for substantial sales of its farm city propermortgages asking individual borrowers reduce their obligations as rapidly as possible. Other Banks Extended SALEM. Or., Aug. of periods restriction nine Orebanks was today by Bank Schramm. expire tonight. The banks are: Albany State Bank. suspension tended until August 30. Bank Amity. suspension extenduntil State Bank, suspension extended until September Washington County Bank Banks, suspension extended until August 30. Bank Beaverton. suspension extended August 30. Bank of Sellwood Portland, suspension extended until August 30. Eastern Oregon Banking Co. at Shaniko, suspension extended to September 11. Coolidge & Bank at Silsuspension extended until September 11. In addition these extensions, orders were issued authorizing additional releases of deposits in three banks as follows: Albany State Bank, an additional release of per cent deposits in the commercial department effective August 18, total unrestricted posits in the commercial department

2. August 15, 1933 The Bulletin Bend, OR

Article from The Bulletin, August 15, 1933

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Article Text

Restrictions in Dregon Are Extended Salem, Aug. Extension periods of restriction of nine Orebanks was announced today Bank Superintendent A: A. bramm. Previous restrictions extonight. banks Albany State bank, suspension OXuntil August 30. of Amity. suspension exuntil September 11. Aumsville State bank, suspension tended until September 11.

3. August 15, 1933 The Bulletin Bend, OR

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Article Text

Washington County bank at Burns. suspension extended until August 30. Bank of Beaverton. suspension extended until August 30. Bank of Sellwood at Portland. suspension extended until August 30 Eastern Oregon Banking Co. at Shaniko, suspension extended to September Coolidge & McClaine bank at Silverton, suspension extended until September 11. In addition to these extensions, orders were issued authorizing additional releases of deposits in three as follows: Albany State bank. an additional release of per cent deposits in the commerc department effective August 18, making total unrestricted dpeosits the commercial department of 15 per cent and in savings department of 10 per cent Washington County bank, an additional release 5 per cent of all deposits effective August 21, making total unrestricted balance of 20 per cent in both departments Bank of Sellwood, an additional release of 10 per cent of deposits in the savings department effectvie August making total unrestricted balance in the savings department of 20 per cent and in the commercial department of 10 per cent. Washington. Aug. organization plays for the First National bank of North Bend, Ore., have been rejected by the comptroller of the currency, the United Press learned today The bank, was understood, at present formulating new to be submitted to the treasury department so that it may be granted license to reopen.

4. August 16, 1933 The Oregon Daily Journal Portland, OR

Article from The Oregon Daily Journal, August 16, 1933

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Article Text

for riods of restriction of nine Oregon banks announced Tuesday by Bank Superintendent A. A. Schramm. Previous restrictions expired last night. The banks are: Albany State bank suspension extended August Bank of Amity, suspension extended September Aumsville State bank, suspension extended until September 11. Washington County bank at Banks, suspension extended until August 30. Bank Beaverton. suspension extended until August 30. Bank of Sellwood Portinad suspension extended until August Eastern Oregon Banking company at Shaniko suspension extended to September 11. Coolidge & McClaine bank at Silverton, suspension extended until September In addition to these extensions. ordreleases of deposits in three banks, as follows: Albany State bank. An additional release deposits in the commercial effective August 18. making total deposits in the department 15 per cent and in savings depart10 per bank, an additional release of cent. of deposits effective 21, total unrestricted balance of 20 per cent. in both Bank of Sellwood. An additional release of 10 per cent of deposits in the department effective August 18, total unrestricted the department of 20 per cent. and in the commercial department of 10 per cent. PLANS FOR NORTH BEND BANK REOPENING REJECTED Washington, Aug. -(U.P)-Reorganization plans for the First National Bank of North Bend, have been rejected by the of the currency, the United Press learned The bank. it was understood. at present new plans be submitted to the treasury department so that it may be granted a 11cense to