Camp Verde State Bank - Camp Verde, AZ

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 12, 1924
Location: Camp Verde, Arizona (34.564, -111.854)

Metadata

Model: gpt-5-mini
Short Digest: 6c453d48

Response Measures

None

Description

Article states the bank has gone into voluntary liquidation and is paying depositors in full; no run mentioned. Closure is voluntary liquidation advised by State Superintendent of Banks.

Events (1)

1. September 12, 1924 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank went into voluntary liquidation on advice of State Superintendent due to a large amount of 'frozen paper' on hand; accepting no further deposits and closing after depositors withdraw funds.
Newspaper Excerpt: An announcement that the Camp Verde State bank of Camp Verde has gone into voluntary liquidation and is now paying off all depositors was recently made by State Superintendent of Banks A. T. Hammons
Source: newspapers

Newspaper Articles (1)

1. September 12, 1924 The Coconino Sun Flagstaff, AZ

Article from The Coconino Sun, September 12, 1924

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Article Text

BANK AT CAMP VERDE CLOSES; PAYS IN FULL The following article appeared in a Phoenix newspaper: An announcement that the Camp Verde State bank of Camp Verde has gone into voluntary liquidation and is now paying off all depositors was recently made by State Superintendent of Banks A. T. Hammons, by whom the step was advised. "The institution," Mr. Hammons said, "is accepting no further deposits and will be closed after depositors have withdrawn their funds. The depositors will be paid in full on demand. "The liquidating step was advised because of the large amount of 'frozen paper' on hand." The assets of the institution, totaling approximately $75,000, have been posted as security for loans aggregating $47,000, with which the deposits or approximately $44,000 are being met. Thé institution was capitalized at $25,000.