Guaranty State Bank - Breckenridge, TX

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 26, 1921
Location: Breckenridge, Texas (32.756, -98.902)

Metadata

Model: gpt-5-mini
Short Digest: 9988128f

Response Measures

None

Description

Article (Pueblo Chieftain, Mar 27, 1921) reports the Guaranty State Bank of Breckenridge closed its doors and was in the hands of the state insurance and banking department, indicating regulatory takeover and permanent closure. The article notes the bank held large notes tied to crude oil whose price decline curtailed paying power — economic background but the immediate action was by the state department.

Events (1)

1. March 26, 1921 Suspension

Cause: Government Action
Cause Details: Closed and placed in control of the state insurance and banking department; article notes bank held large oil-related notes and paying power was curtailed by reductions in crude oil prices.
Newspaper Excerpt: The Guaranty State bank of Breckenridge closed its doors at 12:30 o'clock this afternoon after posting a notice that it was in the hands of the state insurance and banking department.
Source: newspapers

Newspaper Articles (1)

1. March 27, 1921 Pueblo Chieftain Pueblo, CO

Article from Pueblo Chieftain, March 27, 1921

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Article Text

TEXAS BANK CLOSES Breckenridge, Texas, March 26.-The Guaranty State bank of Breckenridge closed its doors at 12:30 o'clock this nfternoon after posting a notice that it was in the hands of the state insurance and baking department. Suspension of the institution caused little apparent interest. It was stated unof. ficially that the bank held large amounts in notes, paying power O which had been curtailed by recent reductions in the price of crude oils.