681. Central Bank (Phoenix, AZ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
Phoenix, Arizona (33.448, -112.074)

Metadata

Model
gpt-5-mini
Short Digest
bd675a79

Response Measures

None

Description

Articles indicate the Central Bank of Phoenix closed its doors and a receiver was appointed (one article says Baumert served as receiver of the defunct Central bank of Phoenix for more than two years). No explicit run is described. Closure appears permanent (receiver, lawsuits over deposits).

Events (2)
1. * Receivership
Newspaper Excerpt
He also served as receiver of the defunct Central bank of Phoenix for more than two years,
Source
newspapers
2. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had closed its doors (insolvency/closure of the bank); legal action over deposits indicates bank failure.
Newspaper Excerpt
the deposit in question was covered by securities and that the state did not lose anything by reason of the closing of the bank.
Source
newspapers

Newspaper Articles (2)
1. December 11, 1925 The Coconino Sun Flagstaff, AZ
Article from The Coconino Sun, December 11, 1925

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Article Text

NAME BAUMERT DEPUTY TO U. S. REVENUE CHIEF Andrew Baumert Jr. of Phoenix has been appointed deputy collector of internal revenue for Arizona, according to an unofficial announcement made Saturday. Mr. Baumert will assume his new position on December 20, it was stated. He will succeed C. C. Lewis, present deputy collector of internal revenue. The appointment of Mrs. Shepard Hiscox of Phoenix as secretary to the collector of internal revenue and assistant cashier was unofficially announced. Mrs. Hiscox succeeds Mrs. Nina E. Duncan, who has acted as secretary to Frank R. Stewart, former collector of internal revenue. No other immediate change in the personnel of the office of the collector in Phoenix is contemplated, it was stated. Mr. Baumert the new deputy collector of internal revenue has been identified with the republican politics in Arizona for a number of years. Mr. Baumert served as secretary to the board of directors of state instituttions during a portion of the two terms served by former Governor Campbell. He also served as receiver of the defunct Central bank of Phoenix for more than two years,

2. June 26, 1926 The Arizona Republic Phoenix, AZ
Article from The Arizona Republic, June 26, 1926

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Article Text

LAWYERS ARGUE APPEAL IN BANK RECEIVER'S SUIT Oral arguments in the appeal filed in the Supreme court by J. W. Colvin from a judgment of $2,398.10 obtained against him by Ada L. were presented before the Fagg court yesterday. The plaintiff brought suit to recover the amount alleged to be due note given to her by Colvin. She obtained judgment from which he has appealed. The case of Perry M. Williams. as of the Bank of Phoenix, against Ernest R. Hall, as secretary state. and the National Surety company, in which Williams sought to recover $11,317.25 (cov. ered by bank securities held by the state) alleged to be due the state on a deposit in that sum by Hall secretary of state in the Central Bank at the time it closed its doors, was presented to the court for deci-s sion on briefs argument. The trial of the resulted in favor of Hall and the judgment in from which surety In an answer to the appealed. suit, Hall alleged that the deposit in question was covered by securities and that the state did not lose anything by reason of the closing of the bank. Oral arguments on the six days' calendar of cases which Monday will be concluded today with arguments the following cases: The United Bank and Trust company, appellant. against W. W. and the Gila Water Jones, appellee: company, appellant, against the Gila Land and Cattle company. DENVER VISITOR-T Van Assert, sales manager for the Cuban