Baldwin Park Savings Bank - Baldwin Park, CA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: October 1, 1931*
Location: Baldwin Park, California (34.085, -117.961)

Metadata

Model: gpt-5-mini
Short Digest: fbf6aaed

Response Measures

None

Description

Article (Monrovia News-Post, 1931-11-04) reports the savings bank was taken over by state (and national) banking departments about two weeks earlier and has 'opened yesterday for liquidation' under state superintendent and a receiver. No explicit run is described; this is a suspension/takeover followed by reopening to liquidate (permanent closure). Dates are approximate based on the article date: reopening 1931-11-03; takeover about two weeks before the article (October 1931).

Events (3)

1. October 1, 1931* Suspension

Cause: Government Action
Cause Details: Taken over by national and state banking departments (regulatory takeover as part of closure/liquidation).
Newspaper Excerpt: taken over of the savings bank and the First National Baldwin Park by national and state banking departments two weeks
Source: newspapers

2. November 3, 1931 Reopening

Newspaper Excerpt: Baldwin Park Savings Bank Opens Yesterday for Liquidation ...the reopening of the Baldwin Park Savings bank today for completion of its ... the first step towards solution ... was made since the taking over ... two weeks ... in charge of the liquidation, assisted ... national bank receiver, promised to work rapidly possible to effect liquidation of both banks. In answer to question, Heathcote stated that there no probability that the national bank would be reopened here under its old charter. new charter would be needed for reorganization, he said, of bank. According to H. president of the defunct institutions, new bank may be organized Baldwin Park in the near future.
Source: newspapers

3. November 4, 1931 Other

Newspaper Excerpt: Heathcote stated that there no probability that the national bank would be reopened here under its old charter. new charter would be needed for reorganization...new bank may be organized Baldwin Park in the near future.
Source: newspapers

Newspaper Articles (1)

1. November 4, 1931 Monrovia News-Post Monrovia, CA

Article from Monrovia News-Post, November 4, 1931

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Article Text

Baldwin Park Savings Bank Opens Yesterday for Liquidation BALDWIN PARK, Nov. the reopening of the Baldwin Park Savings bank today for completion of its as required by law, the first step towards solution local banking problem was made since the taking over of the savings bank and the First National Baldwin Park by national and state banking departments two weeks special state uty bank superintendent, charge of the liquidation, assisted McBirney. recent mass meeting of depositors, Robinand Heathcote, national bank receiver, promised to work rapidly possible to effect liquidation of both banks. In answer to question, Heathcote stated that there no probability that the national bank would be reopened here under its old charter. new charter would be needed for reorganization, he said, of bank. According to H. president of the defunct institutions, new bank may be organized Baldwin Park in the near future.