21080. Texas State Bank & Trust Company (Corpus Christi, TX)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
October 14, 1931
Location
Corpus Christi, Texas (27.801, -97.396)

Metadata

Model
gpt-5-mini
Short Digest
00addaff

Response Measures

None

Description

Articles (Oct 14-15, 1931) report the Texas State Bank & Trust Co. of Corpus Christi 'closed to prevent a threatened run' after the affiliated First State Bank at Kingsville failed to open. The reports do not state whether Corpus Christi later reopened or was placed in receivership; I selected suspension_closure because the bank suspended operations and there is no evidence in these snippets of reopening. Cause attributed to distress/failure of an affiliated local bank.

Events (1)
1. October 14, 1931 Suspension
Cause
Local Banks
Cause Details
Closure of the affiliated First State Bank at Kingsville prompted threatened withdrawals, leading the Corpus Christi bank to close to prevent a run.
Newspaper Excerpt
The Texas State Bank & Trust Co. of Corpus Christi, with approximately $300,000 on deposit, closed to prevent a threatened run.
Source
newspapers

Newspaper Articles (2)
1. October 15, 1931 Evening Star Washington, DC
Article from Evening Star, October 15, 1931

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Article Text

TWO TEXAS BANKS FAIL Corpus Christi and Kingsville Institutions Were Affiliated. CORPUS CHRISTI, Tex., October 15 (P).-Two affiliated South Texas banking institutions, one at Corpus Christi, the other at Kingsville, failed to open for business yesterday. The Texas State Bank & Trust Co. of Corpus Christi, with approximately $300,000 on deposit, closed to prevent a threatened run. Bank officials said. closing yesterday of the First State Bank at Kingsville, a member bank, was responsible for the prospective withdrawal of deposits at the Texas State Bank & Trust Co. The Kingsville Bank was capitalized for $65,000 and had about $440,000 on deposit. The Corpus Christi bank was capitalized for $150,000.

2. October 15, 1931 The Miami Herald Miami, FL
Article from The Miami Herald, October 15, 1931

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Article Text

2 AFFILIATED BANKS SUSPEND IN TEXAS CORPUS CHRISTI, Texas, Oct. 14. (AP) Two south Texas banking institut one at Corpus Christi, the other at Kingsvi failed to open today. The Texas State Bank and Trust of Corpus Christi, with approximately $300,000 on deposit, closed to prevent threatened run. The Kingsville bank was capitalized for $65,000 and had about $440,000 on deposit. The Corpus Christi bank was capitalized for $150,000.