Fresno Savings Bank - Fresno, CA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: April 12, 1895
Location: Fresno, California (36.748, -119.772)

Metadata

Model: gpt-5-mini
Short Digest: 18ee81b8

Response Measures

None

Description

OCR in article misrenders 'Fresno' as 'Freson'/'Fresco' — corrected. Article (Apr 12, 1895) reports the Fresno Savings Bank 'suspended business' and is described as failing due to inability to realize on mortgage/real-estate securities stemming from the Panic of 1893. No explicit reopening or receiver mentioned; treated as permanent closure/suspension.

Events (1)

1. April 12, 1895 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Inability to realize on real-estate mortgages and securities; accumulating interest on mortgages following the Panic of 1893 led to suspension/ failure.
Newspaper Excerpt: The Fresco Savings bank suspended business today. A notice on the door says the depositors will be paid in full, but inability to realize on securities makes it impossible to meet demands.
Source: newspapers

Newspaper Articles (1)

1. April 17, 1895 Barbour County Index Medicine Lodge, KS

Article from Barbour County Index, April 17, 1895

Click image to open full size in new tab

Article Text

BANK FAILS AT FRESON. It Figures on Paying Out if it Could Only Realize. Fresco, Cal., April 12.-The Fresco Savings bank suspended business today. A notice on the door says the depositors will be paid in full, but inability to realize on securities makes it impossible to meet demands. From President E. F. Bernard, who became connected with the management August, 1894, it is learned that the failure is due to accumulating interest on real estate, mortgages and the inability to make other collections due. The struggle began in the panic of 1893. The bank was forced to close its doors in June, 1894 for a day or so, but continued business. There is due the depositors $412,487. The total assets amount to $710,000, which includes notes and mortgages, secured by real estate to the amount of $454,710. The bank premises and other estate is valued at $175,000, and the amunot of actual cash is $81,000. Allowing $100,000 for shrinkage in value of real estate and worthless securities, the bank would still have assets amounting to $200,000 more than liabilities.