Potomac Savings Bank - Washington, DC

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: March 24, 1940
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: ef137470

Response Measures

None

Description

Article (Evening Star, 1940-03-24) refers to the Potomac Savings Bank as a closed bank with a receiver (Justus S. Wardell) selling assets to complete liquidation. No run is mentioned and the bank is in receivership and being liquidated, implying permanent closure.

Events (1)

1. March 24, 1940 Receivership

Newspaper Excerpt: Justus S. Wardell, receiver of the Potomac Savings Bank, yesterday announced a preliminary sale of assets of the closed bank to the highest bidder April 15 at the receiver's office, 1614 K street N.W.
Source: newspapers

Newspaper Articles (1)

1. March 24, 1940 Evening Star Washington, DC

Article from Evening Star, March 24, 1940

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Article Text

Potomac Bank Assets To Be Sold April 15 Justus S. Wardell, receiver of the Potomac Savings Bank, yesterday announced a preliminary sale of assets of the closed bank to the highest bidder April 15 at the receiver's office, 1614 K street N.W. The sale is part of the procedure to complete liquidation of the remaining assets, and to provide further funds for another dividend for depositors. There was no indication, however, as to when such a dividend may be expected. Depositors so far have received dividends totaling 70 1/2 per cent.