Parker Valley Bank - Parker, AZ

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 16, 1923
Location: Parker, Arizona (34.150, -114.289)

Metadata

Model: gpt-5-mini
Short Digest: 1c252b63

Response Measures

None

Description

Article (Arizona State Miner, 1923-06-16) reports the Parker Valley Bank in Parker, AZ is in receivership, with a 30% dividend paid to creditors by order of Yuma County Superior Court and the state superintendent invoking the double liability law against directors/stockholders. No run is mentioned; the bank is closed and in receivership/being wound up.

Events (3)

1. June 16, 1923 Other

Newspaper Excerpt: A 30 per cent dividend totaling $15,000 was paid to the creditors of the Parker Valley bank ... Checks were mailed to approximately more than 200 creditors of the bank.
Source: newspapers

2. June 16, 1923 Receivership

Newspaper Excerpt: The dividend is made by order of the superior court of Yuma county ... under the double liability law of Arizona which is now being invoked against directors and stock holders of insolvent banks.
Source: newspapers

3. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent and in receivership; double liability invoked against directors and stockholders under Arizona law.
Newspaper Excerpt: A 30 per cent dividend totaling $15,000 was paid to the creditors of the Parker Valley bank of Parker, Ariz., according to an announcement by Andrew T. Hammons, state superintendent of banks, this week.
Source: newspapers

Newspaper Articles (1)

1. June 16, 1923 Arizona State Miner Wickenburg, AZ

Article from Arizona State Miner, June 16, 1923

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Article Text

Closed Banks May Be Forced to Pay. In a decision handed down by Superior Judge Dudley Windes at Phoenix this week, the stockholders of the Phoenix Bank (formerly the Central Bank of Phoenix) may be forced to pay the liabilities of the bank under the Double Liability Act of Stockholders. Receiver Williams, in view of this decision, is determined to enforce the statutory double liability of stockholders at an early date. Judge Windes' decision limits the time in which claims may be filed against the bank. coming within the purview of its stockholders, to six months, which ends on Nov. 21st. Several suits have been filed against recalcitrant debtors which have already been settled to benefit of the depositors. This double liability act also refers to the Central Bank of Wickenburg. and its depositors should get busy and seek some similar action in their favor by taking their claims before Judge Windes at Phoenix. A 30 per cent dividend totaling $15,000 was paid to the creditors of the Parker Valley bank of Parker, Ariz., according to an announcement by Andrew T. Hammons, state superintendent of banks, this week. Checks were mailed to approximately more than 200 creditors of the bank. The dividend is made by order of the superior court of Yuma county and others will be made fast as collections are available under the double liability law of Arizona which is now being invoked against directors and stock holders of insolvent banks.