Chevy Chase Savings Bank - Chevy Chase, MD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1932*
Location: Chevy Chase, Maryland (38.971, -77.076)

Metadata

Model: gpt-5-mini
Short Digest: 608e4927

Response Measures

None

Description

The bank was placed in the hands of a receiver after the 1932 moratorium and remained in receivership; article (1936) discusses final dividend paid by receiver. No run is mentioned.

Events (3)

1. January 1, 1932* Receivership

Newspaper Excerpt: Depositors of the Chevy Chase Savings Bank, placed in the hands of a receiver after the 1932 moratorium, will receive the last 20 per cent dividend on their deposit accounts next month, it was announced today by Cary A. Hardee, receiver for the bank.
Source: newspapers

2. January 1, 1932* Suspension

Cause: Government Action
Cause Details: Placed in hands of a receiver following the 1932 banking moratorium (banking holiday/moratorium measures).
Newspaper Excerpt: placed in the hands of a receiver after the 1932 moratorium
Source: newspapers

3. July 10, 1936 Other

Newspaper Excerpt: Depositors ... will receive the last 20 per cent dividend on their deposit accounts next month; an orderly liquidation of the liquid assets of the closed institution made it possible to pay the first 80 per cent of dividends in several instalments.
Source: newspapers

Newspaper Articles (1)

1. July 10, 1936 The Washington Times Washington, DC

Article from The Washington Times, July 10, 1936

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Article Text

BANK TO PAY DEPOSITORS Depositors of the Chevy Chase Savings Bank, placed in the hands of a receiver after the 1932 moratorium, will receive the last 20 per cent dividend on their deposit accounts next month, it was announced today by Cary A. Hardee, receiver for the bank. An orderly liquidation of the liquid assets of the closed institution made it possible to pay the first 80 per cent of dividends in several instalments, it was said, and the final dividend payment was made possible through the cooperation of a stockholders' committee headed by Attorney Paul Sleman. This committee, it is said, pledged sufficient cash to make the final dividend, thereby saving a large amount of sound, but frozen, assets, for liquidation on a rising market. These assets will be turned back to the stockholders when the final dividend is paid.