7497. Bank of Ocean City (Ocean City, MD)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
October 2, 1931
Location
Ocean City, Maryland (38.337, -75.085)

Metadata

Model
gpt-5-mini
Short Digest
cc6f99dfdd741956

Response Measures

None

Description

Articles (Oct 2, 1931) report the Bank of Ocean City closed its doors 'pending the arrival of the State bank examiners' and a probe; no run is reported and no receivership or permanent closure is mentioned. I classify as a suspension (government action) with an assumed eventual reopening since the accounts describe a temporary closure pending examination but give no indication of failure.

Events (1)
1. October 2, 1931 Suspension
Cause
Government Action
Cause Details
Closed pending arrival/action of State bank examiners and probe of finances (assets described as 'frozen'); poor fishing season cited as harming finances.
Newspaper Excerpt
Bank of Ocean City which patronized largely by the fishing industry of this resort closed its doors today pending the arrival of the State bank examiners.
Source
newspapers

Newspaper Articles (2)
1. October 2, 1931 The Evening Journal Wilmington, DE
Article from The Evening Journal, October 2, 1931

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Article Text

OCEAN MD., BANK CLOSES; ASSETS 'FROZEN' Bank of Ocean City Hit by Poor Fishing Season, it is Said WAIT ACTION OF BANK EXAMINER to 2 The of This county within the last LARCENY CHARGE George bank of There on in Court that financial of Va opened man persons pawn for his doors his the was charge pending the action of the Bank Examiners information the the finances of Wesse earned frozen were 29 for of the COLLIDE in Continued WILKINS SAILS N Oct York in he ice out of the and is

2. October 2, 1931 The News Journal Wilmington, DE
Article from The News Journal, October 2, 1931

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Article Text

BANK AT OCEAN CITY, MD. CLOSED PENDING PROBE OCEAN CITY, Md., Oct. Bank of Ocean City which tronized largely by the fishing industry of this resort closed its doors today pending the arrival of of the State bank examiners. This makes the second bank in Worcester county toclose its doors within the last two months, ht eother being the George Barnes Company pribank of Girdletree. There no run on the bank few persons here knew that it in good financial condition. The bank opened this morning as usual, with making withdrawals. Later in the morning the doors closed, and posted outside to the effect that was done pending the action of the State Bank Examiners.