Arizona Trust & Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: December 24, 1923
Location: Safford, Arizona (32.834, -109.708)

Metadata

Model: gpt-5-mini
Short Digest: d2afc0c1

Response Measures

None

Description

Article reports the state superintendent closed the parent bank and two branches because legal reserve was below required amount; a receiver was appointed. No run or depositor agitation is mentioned. Branches at Thatcher and Pima also closed; receiver named T. S. Kimball.

Events (2)

1. December 24, 1923 Suspension

Cause: Government Action
Cause Details: Closed by the state superintendent of banks due to legal reserve being below statutory requirement.
Newspaper Excerpt: The three banks were closed late Monday morning by the state superintendent of banks because the legal reserve of the parent bank and the two branches was below the amount required by law.
Source: newspapers

2. December 28, 1923 Receivership

Newspaper Excerpt: KIMBALL NAMED RECEIVER OF THREE SAFFORD BANKS ... Appointment of T. S. Kimball ... as receiver of the Arizona Trust and Savings bank of Safford, and its branches at Thatcher and Pima, was announced by Andred T. Hammons, state superintendent of banks. ... Senator Kimball ... will begin immediately the work of liquidating the accounts of the institution.
Source: newspapers

Newspaper Articles (1)

1. December 28, 1923 The Coconino Sun Flagstaff, AZ

Article from The Coconino Sun, December 28, 1923

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Article Text

KIMBALL NAMED RECEIVER OF THREE SAFFORD BANKS Appointment of T. S. Kimball of Thatcher, state senator from Graham county to the Sixth legislature, as receiver of the Arizona Trust and Savings bank of Safford, and its branches at Thatcher and Pima, was announced by Andred T. Hammons, state superintendent of banks. Senator Kimball, who is well known in the state, will take charge of the affairs of the three banks at once, and will begin immediately the work of liquidating the accounts of the institution. The three banks were closed late Monday morning by the state superintendent of banks because the legal reserve of the parent bank and the two branches was below the amount required by law.