795. State Bank (Manhattan Beach, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 5, 1933
Location
Manhattan Beach, California (33.885, -118.411)

Metadata

Model
gpt-5-mini
Short Digest
62ce52cbd2c6fe9d

Response Measures

None

Description

The articles (Jan and Sep 1933) describe the State Bank of Manhattan Beach as being in liquidation with a receiver in charge and proceedings being handled by the state superintendent's office. There is no mention of a depositor run; instead the bank is in receivership/liquidation (permanent closure). Dates extracted from newspaper publication context. OCR typos in articles (e.g., fragmented sentences) were corrected when quoting.

Events (3)
1. January 5, 1933 Receivership
Newspaper Excerpt
Continuing to use the quarters 1237 Hermosa avenue as the receiver's office... E. Bowerman, Jr., in charge of the liquidation ... and the State Bank of Manhattan Beach.
Source
newspapers
2. January 5, 1933 Suspension
Cause
Government Action
Cause Details
Bank placed in liquidation and a receiver appointed by state superintendent of banks (state action leading to suspension).
Newspaper Excerpt
E. Bowerman, Jr., in charge of the liquidation of the First Bank, as well as the American Commercial Bank of Redondo and the State Bank of Manhattan Beach.
Source
newspapers
3. September 7, 1933 Other
Newspaper Excerpt
assistant to Walter Robinson, deputy superintendent of banks, in charge of liquidation proceedings for the State Bank of Manhattan Beach ... proceedings held up by suit, not give any definite information concerning the outlook other than to say that it did look hopeful.
Source
newspapers

Newspaper Articles (2)
1. January 5, 1933 Hermosa Beach Review Hermosa Beach, CA
Article from Hermosa Beach Review, January 5, 1933

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Article Text

FIRST BANK WILL BE OPEN MONTHS FOR FILING CLAIMS Continuing to use the quarters 1237 Hermosa avenue as the receiver's office, the First Bank of Hermosa Beach, in liquidation, opened this morning for filing claims. E. Bowerman, Jr., in charge of the liquidation of the First Bank, as well as the American Commercial Bank of Redondo and the State Bank of Manhattan Beach. The First Bank will remain open for four months, during which period all claims against the bank must be filed, according to Robison, special deputy superintendent of banks and sistant to Edward Rainey, state superintendent of banks. Claims against the First National bank, which was closed by order of the board of directors in order to save the depositors the loss that might have been incurred by run, may be filed in about three weeks, is understood. The liquidation of tional bank is considerably longer than that of process state bank, it is pointed ouit, details must be forcause many warded to Washington for con-

2. September 7, 1933 The Daily Breeze Torrance, CA
Article from The Daily Breeze, September 7, 1933

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Article Text

FIRST NATIONAL HERMOSA, PAYS PER CENT Must Present Certificates; Other Payments Totaling $106,000 Made Here's good news for depositors First National Bank which closed Its doors on December 1932. Heathcote, receiver. announces that he now ready commence paying first dividend to depositors and other creditors the amount of 15 per centtheir claims HOW TO COLLECT Payments will he made only those who have proven their claims and who hold receiver's and such certificates must be presented at the receiver's office for endorsement before dividend checks will be delivered. Any depositors or other creditors unable to visit the receiver's office Hermosa Beach in person may communicate with him by mail. OTHER PAYMENTS The First National Bank of Hermosa Beach has, since closed its doors, in addition to the present dividend unsecured creditors, has paid the sum of approximately $106,000 on secured claims, public deposits and in the form of repayments on borrowed money. OTHER BANKS Statements made morning dicate that immediate dividends will be available in any of the other three South Bay banks now in quidation. According to Thomas Healy, assistant to Walter Robinson, deputy superintendent of banks, in charge of liquidation ceedings for the State Bank of Manhattan Beach, the First Bank of Hermosa Beach, and the American Commercial and Savings Bank Redondo Beach, it was impossible to predict exactly when dividend would be declared in any the REDONDO BEACH Financial status the three banks show that according to ap pearances the American Commen cial and Savings Bank in Redonds Beach should be the first to declare dividend payment. With deal of the funds due on payments at the First Bank of Hermosa Beach, and *State Bank proceedings held up by suit, not give any definite information concerning the outlook other than to say that it did look hopeful.