671. Parker Bank & Trust Company (Parker, AZ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
February 2, 1915
Location
Parker, Arizona (34.150, -114.289)

Metadata

Model
gpt-5-mini
Short Digest
9f93ecfa

Response Measures

None

Description

The Parker Bank & Trust Company was ordered closed by the State Auditor for investigation (Feb 2, 1915 article). It subsequently remained closed, a receiver was appointed in mid-March 1915 and the receiver liquidated assets and paid depositors (dividend declared Feb 1916). There is no clear evidence of a depositor run on Parker itself — the articles mention a run on the Bowie Bank — so this is classified as a suspension leading to permanent closure/receivership.

Events (4)
1. February 2, 1915 Suspension
Cause
Government Action
Cause Details
Closed at the instance of the State Auditor pending investigation of its affairs; bank not operating at a profit; closure followed news of runs on other banks (Bowie) but Parker was closed by state action.
Newspaper Excerpt
At the instance of State Auditor Callaghan, the Parker Bank & Trust company has been closed, pending an investigation of its affairs by the state banking department.
Source
newspapers
2. March 14, 1915 Receivership
Newspaper Excerpt
W. P. Dunn of Parker, was yesterday appointed receiver for the Parker Bank and Trust company by the superior court of Yuma county.
Source
newspapers
3. July 27, 1915 Other
Newspaper Excerpt
This is to notify all parties owing the Parker Bank and Trust Company that all amounts due and unpaid by September first will be entered for suit, W. P. DUNN, July 27, 1915. Receiver Parker Bank and Trust Co.
Source
newspapers
4. February 26, 1916 Other
Newspaper Excerpt
The receivership of the defunct Parker Bank & Trust company declared a dividend of 40 per cent, last Wednesday, in favor of the depositors.
Source
newspapers

Newspaper Articles (12)
1. February 2, 1915 Arizona Republican Phoenix, AZ
Article from Arizona Republican, February 2, 1915

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Article Text

"TALK DID IT" SAYS CASHIER Missing Official of Bowie Bank Writes Auditor Callaghan from El Paso -Parker Bank Closed for Investigation. Because the Bowie Band and Trust company was "talked to death" and a run was being made on the institution, Cashier G. J. Armstrong locked the safe, closed the bank building and took the next train to El Paso. These reasons for the sudden closing of the institution were set forth in a letter from Armstrong to State Auditor J. C. Callaghan yesterday. In his letter Armstrong says that the bank was one of the strongest in the state, but that enemies of the institution circulated reports as to its condition. Heavy withdrawals, which practically amounted to a run on Friday, followed. In view of these circumstances, Armstrong said, he felt that the best thing to do was to close the bank and leave town. Armstrong said nothing is his letter as to whether or not he expected to return to Bowie. Deputy State Auditor James B. Ormond and Assistant Attorney General George Harben are at Bowie and are investigating the condition of the bank. While no statement has been issued as yet, Deputy Ormond in 3. telephone message to Auditor Callaghan yesterday said that he thought the depositors were well protected, and that the affairs of the institutien would be adjusted without serious loss. The first intimation that anything was wrong came when the bank failed to open for business Saturday morning. Persons then remembered having seen Armstrong boarding a train at Olga, a small station east of Bowie. There were no state funds on deposit with the institution. but Cochise county is known to have had $2,000 in the bank. At the instance of State Auditor Callaghan, the Parker Bank & Trust company has been closed. pending an investigation of its affairs by the state banking department. According to the statement of the cashier, the institution has not been operating at " profit. Auditor Callaghan sent a man to Parker last night to take charge of the bank until the arrival of H. A. Cheverton, the new state bank CXaminer who will reach the city on

2. March 11, 1915 Arizona Republican Phoenix, AZ
Article from Arizona Republican, March 11, 1915

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Article Text

AFFAIRS OF PARKER BANK MAY BE SETTLED Proposed That Commercial Bank Assume Assets and Liabilities of Trust Company Meets With Favor That the affairs of the Parker Bank and Trust company which recently suspended operations, be taken over by the Commercial bank of that place, and adjusted, is a proposition that is being favorably considered by stockholders of the latter institution. Under the plan proposed, the Commercial bank would assume the assets and liabilities of the other institution, and liquidate the deposits as soon as possible. All the depositors and practically all the stockholders of the bank are said to be in favor of the adjustment proposed. The Commercial Bank of Parker was reorganized last week, M. C. Webb of Phoenix, L. P. Tolladay and W. P. Dunn being added to the directorate. D. J. Peter, the former president. was re-elected, and Dunn who has had long experience in banking in Georgia, was named cashier.

3. March 13, 1915 Arizona Republican Phoenix, AZ
Article from Arizona Republican, March 13, 1915

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Article Text

RECEIVER ASKED FOR PARKER BANK To file application for a receiver for the Parker Bank and Trust company, Attorney General Wiley E. Jones and Assistant George Harben, left for Yuma last night. Formal request that a receiver be appointed for the institution accompanied advices to State Bank Comptroller Callaghan yesterday that the proposal that the affairs be taken over by the Commercial bank at Parker had fallen through and there were no further prospects for adjusting the situation without a receivership. State Bank Examiner Chererton has been in charge at Parker since shortly after the bank suspended payment.

4. March 14, 1915 Arizona Republican Phoenix, AZ
Article from Arizona Republican, March 14, 1915

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Article Text

RECEIVER NAMED FOR PARKER BANK W. P. Dunn of Parker, was yesterday appointed receiver for the Parker Bank and Trust company by the "superior court of Yuma county. Upon Dunn, who is the new cashier of the Commercial bank, will fall the task of settling up the affairs of the institution. Application for a receiver was filed yesterday morning by Assistant Attorney George Harben. The bank's liabilities amount approximately to $6000.

5. March 20, 1915 The Parker Post Parker, AZ
Article from The Parker Post, March 20, 1915

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Article Text

Finishes Work. State Bank Examiner Cheverton leaves Saturday night for Phoenix, having completed his work here in connection with the failure of the Parker Bank & Trust company. Mr. Cheverton has turned over all of the bank's property to Mr. Dunn, who has been appointed receiver of the institution. During his stay here, Mr. Cheverton has made many friends who regret to see him depart.

6. March 20, 1915 The Parker Post Parker, AZ
Article from The Parker Post, March 20, 1915

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Article Text

Dunn to be Receiver. Attorney General Wiley E. Jones. on behalf of the state of Arizona, has instituted proceedings in the superior court of this county for the appointment of a receiver for the deunet Parker Bank & Trust company. An order has been issued by the court on the bank and its directors to appear before the court on March 20 to show cause why W. P. Dunn should not be appointed receiver of the institution. As soon as Mr. Dunn's appointment has been confirmed by the state bank comptroller, he will enter upon his duties as receiver, and wind up the bank's affairs The depositors will be paid dollar for dollar.

7. March 31, 1915 Arizona Republican Phoenix, AZ
Article from Arizona Republican, March 31, 1915

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Article Text

PARKER DEPOSITORS TO BE PAID IN FULL Depositors of the Parker Bank and Trust company will in all probability receive dollar for dollar in the adjustment of the affairs of that institution, according to a statement made by State Auditor Callaghan, yeserday. When the bank closed, the deposits amounted to $6,269.06 which with certificates of deposit amounting to $3,000, the $10,000 capital stock and other items brought the liabilities up to $21,824.84. This amount was balanced by assets of equal value, and on which it is expected the receiver will be able to realize practically the full amount. The certificates of deposit were paid by the board of directors shortly after the bank closed. Loans and discounts amounted to over $10,000 and real estate owned by the bank was valued in the last statement at $4,700, so that it is confidently expected. that the sum necessary to pay all depositors in full will be readily realized, and that the stockholders will not lose heavily. W. P. Dunn, cashier of the Commercial Bank at Parker is receiver for the bank and trust company.

8. April 7, 1915 Weekly Journal-Miner Prescott, AZ
Article from Weekly Journal-Miner, April 7, 1915

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Article Text

DEPOSITORS OF PARKER BANK TO BE PAID PHOENIX, March 31.-Depositors of the Parker Bank and Trust company will in all probability receive dollar for dollar in the adjustment of the affairs of that institution, according to a statement by State Auditor Callaghan, yesterday. When the bank closed, the deposits amounted to $6,269.06 which with certificates of deposit amounting to $3,000, the $10,000 capital stock and other items brought the liabilities up to $21,824.84. This amount was balanced by assets of equal value, and on which it is expected the receiver will be able to realize practically the full amount. The certificates of deposit were paid by the board of directors shortly after the bank closed. Loans and discounts amounted to over $10,000 and real estate owned by the bank was valued in the last statement at $4,700, so that it is confidently expected that the sum necessary to pay all depositors in full will be readily realized, and that the stockholders will not lose heavily. W. P. Dunn, cashier of the Commercial Bank at Parker is receiver for the bank and trust company.

9. April 10, 1915 The Parker Post Parker, AZ
Article from The Parker Post, April 10, 1915

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TO BE PAID IN FULL. Depositors of the Parker Bank and Trust Company will in all probability receive dollar for dollar in the adjustment of the affairs of that institution, according to a statement made by State Auditor Callahan yesterday, says the Arizona Republican. When the bank closed the deposits amounted to $6269.06, which, with certificates of deposit amounting to $3000, the $10,000 capital stock and other items brought the liabilities up to 21,824.84. This amount was balanced by assets of equal value, and on which it is expected the receiver will be able to realize practically the full amount. The certificates of depos't were paid by the board of directors shortly after the bank closed. Loans and discounts amounted to over $10,000 and real estate owned by the bank was valued in the last statement at $4700, SO that it is confidently expected that the sum necessary to pay all depositors in full will be readily realized, and that the stockholders will not lose heavily. W. P. Dunn, cashier of the Commercial bank at Parker, is receiver for the bank and trust company.

10. July 31, 1915 The Parker Post Parker, AZ
Article from The Parker Post, July 31, 1915

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Article Text

Notice. This is to notify all parties owing the Parker Bank and Trust Company that all amounts due and unpaid by September first will be entered for suit, W. P. DUNN, July 27, 1915. Receiver Parker Bank and Trust Co.

11. October 9, 1915 The Parker Post Parker, AZ
Article from The Parker Post, October 9, 1915

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Article Text

NOTICE OF SALE OF REAL ESTATE. In the Superior Court, Yuma County, State of Arizona. State of Arizona, ex rel Wiley E. Jones, Attorney General of the State of Arizona, vs. The Parker Bank and Trust Company, J. F. Raney, president and director; J. B. Flanagan, vice-president and director; A. H. Littlefield, cashier and director; C. F.Welles, director; and E. S. Osborn, director, of the Parker Bank and Trust Company, defendants. Under authority of an order made by the Superior Court of the County of Yuma, State of Arizona, on the fifth day of October, 1915, in the above entitled action, I, the undersigned receiver of The Parker Bank and Trust Company, will sell at private sale the following described property: Lot 1 in Block 138, Lot 8 in Block 138, Lot 4 in Block 168, Lot 3 in Block 194, Lot 3 in Block 212, Of the townsite of Parker, in Yuma County, State of Arizona, according to the map or plat of said townsite approved by the Secretary of the Department of the Interior of the United States of America. The sale will be on or after Oct. 25, 1915,, and bids will be received at my office at the Commercial Bank, in the town of Parker, County of Yuma, State of Arizona. The terms of the sale will be cash, twenty per cent to accompany the bid and the balance payable upon confirmation of the sale by the court, deed to be delivered when sale is confirmed by the court and deed or dered executed and delivered. Dated, Oct. 7th, 1915. W. P. DUNN, Receiver of the Parker Bank and Trust Company. (22-23)

12. February 26, 1916 The Parker Post Parker, AZ
Article from The Parker Post, February 26, 1916

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Article Text

Pays Dividend. The receivership of the defunct Parker Bank & Trust company declared a dividend of 40 per cent, last Wednesday, in favor of the depositors.