840. Bank of Shasta County (Redding, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 25, 1911
Location
Redding, California (40.587, -122.392)

Metadata

Model
gpt-5-mini
Short Digest
d4596d47bed4da2c

Response Measures

None

Description

Articles (March 25–28, 1911) report the Bank of Shasta County 'closed its doors' and the State Bank Examiner Dobbs placed the bank in charge; suspension described as voluntary and tied to 'big loans' that do not look as good. No article describes a run on this particular bank (a run affected the First Savings Bank of Shasta County, a separate collateral institution). No reopening is reported, and the examiner being in charge suggests the suspension led to closure/official intervention.

Events (1)
1. March 25, 1911 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Management cited large loans that do not look as good as when we made them, prompting a voluntary suspension; state examiner placed in charge.
Newspaper Excerpt
The Bank of Shasta county closed its doors today and State Bank Examiner Dobbs is in charge. The suspension was voluntary and President C. C. Bush expressed confidence...
Source
newspapers

Newspaper Articles (2)
1. March 26, 1911 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, March 26, 1911

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Article Text

SHASTA COUNTY, CAL., BANKS CLOSE DOORS Big Loans Do Not Look Good, According to President of One Concern. By Associated Press. REDDING. Cal., March 25.-The Bank of Shasta county closed its doors today and State Bank Examiner Dobbs is in charge. The suspension was voluntary and President C. C. Bush expressed confidence that with a little time the bank would be able to meet its liabilities. which are shown by the last statement to be $1,061,304. "Some big loans do not look as good as when we made them." said Mr. Bush. The First Savings bank of Shasta county a collateral institution, stopped payment at noon because of a heavy run of depositors. The state bank examiner

2. March 28, 1911 El Paso Herald El Paso, TX
Article from El Paso Herald, March 28, 1911

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Article Text

Redding, Cal., March 28.-The First Savings bank of Shasta county was closed late yesterday by order of W. R. Williams, state superintendent of banks. The bank had $267,000 in deposite in December. Today's action results from the suspension of the Bank of Shasta county last Saturday. Dr. Cameron, Dentist, over WalkOver shoe store. Reliable dentistry. E. W. Bryan-Dentist, all work guaranteed, 107 S. El Paso, Mundy Bldg. Dr. Deady. Am. Natl. Bank Bldg.