Bank of Anacortes - Anacortes, WA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1893*
Location: Anacortes, Washington (48.513, -122.613)

Metadata

Model: gpt-5-mini
Short Digest: a22edd70

Response Measures

None

Description

OCR typo corrected: 'Anscortes' -> Anacortes. The article states the bank suspended in 1893 and its effects/assets were sold at assignee's sale in 1896, implying permanent closure and receivership. No run is mentioned; suspension appears due to insolvency (liabilities exceeded assets).

Events (3)

1. January 1, 1893* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended in 1893 due to insolvency: liabilities greatly exceeded assets; assets were largely worthless (wildcat real estate, low-value notes).
Newspaper Excerpt: The effects of the Bank of Anacortes, which suspended in 1893, were sold at assignee's sale...
Source: newspapers

2. April 28, 1896 Other

Newspaper Excerpt: The effects of the Bank of Anacortes ... were sold at assignee's sale a few days ago and brought but a small sum, compared with the bank's liabilities. The assets consisted of fixtures, the bank's equity in some wildcat real estate, and a Job lot of notes which had very little value....
Source: newspapers

3. April 28, 1896 Receivership

Newspaper Excerpt: The effects of the Bank of Anacortes ... were sold at assignee's sale ... So far as can be ascertained, there was only $3,500 insurance on the Metcalf & Wade mill, which burned Friday, $2,500 on the mill plant itself and $1,000 on shingies.
Source: newspapers

Newspaper Articles (1)

1. April 29, 1896 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, April 29, 1896

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Article Text

The Bank of Anscortes Assets. Anacortes, April 28.-Spectal.-The effects of the Bank of Anacortes, which suspended in 1893, were sold at assignee's sale a few days ago and brought but a small sum, compared with the bank's liabilities. The assets consisted of fixtures, the bank's equity in some wildcat real estate, and and a Job lot of notes which had very little value. All real estate to which the bank had title had been mortgaged prior to the bank's suspension, and the paper possessing real value had been rediscounted, so that there was really very little in sight when the assignee took charge. So far as can be ascertained, there was only $3,500 insurance on the Metcalf & Wade mill, which burned Friday, $2,500 on the mill plant itself and $1,000 on shingies.