8633. Eastern Bank (Bangor, ME)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 22, 1878
Location
Bangor, Maine (44.801, -68.778)

Metadata

Model
gpt-5-mini
Short Digest
96898ed9

Response Measures

None

Description

Contemporary reports state the Eastern Bank of Bangor 'surrendered its charter' and is 'transacting such business only as is necessary to a final settlement of their affairs.' This indicates a voluntary surrender/liquidation and permanent closure rather than a run or temporary suspension.

Events (1)
1. March 22, 1878 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank surrendered its state charter and began winding up operations; transacting only necessary business for final settlement per reports later in the year.
Newspaper Excerpt
The Eastern bank of Bangor has surrendered its charter after having been in operation for forty-three years.
Source
newspapers

Newspaper Articles (2)
1. March 22, 1878 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, March 22, 1878

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Article Text

STATE NEWS KNOX COUNTY. There have been over 100,000 lobsters caught and sold by the fishermen of Friendship since the 1st of February, averaging about four cents each. Six smacks from this place are constantly employed to carry lobsters to Boston and Portland, for which they receive from 1½ to 2 cents freight on each lobster. One smack made three trips to Boston this spring. carrying in all 23,000. PENOBSCOT COUNTY. The European & North American bondholders held a meeting in Bangor Wednesday afternoon. The question of running a through night train came up and was referred to the Trustees and the Superintendent. The Eastern bank of Bangor has surrendered its charter after having been in operation for forty-three years. It is the last of the banks holding a charter from the state. The Greenbackers elected most of their ticket in Lincoin. It was rumored in Bangor Wednesday that one of the Dexter murderers had been arrested in Pictou, N. S.

2. December 16, 1878 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 16, 1878

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Article Text

BY TELEGRAPH. MAINE. MAINE SAVINGS BANKS. Annual Report of Bank Examiner Bolster. AUGUSTA, Dec. 15. The report of W. W. Bolster, State Bank Examiner, has been prepared for submission to the Governor and Council. Although the past year has been more trying to savings institutions,than any previous ones,our savings banks are in a better condition and stronger than a year ago. BANKS OF DISCOUNT AND DEPOSIT. The Eastero and Mercantile banks of Bangor have both surrendered their charters and are transacting such business only as is neces sary to a final s-ttlement of their affairs. Tue outstanding certifica es of the American Baok of H sllowell are $800. Cash on hard to pay be same, $704. at the rate of 88 per cent., the dividend ordered by the court. SAVINGS BANKS. The number now organized and doing business in the state is fifty-nine, a decrease of five since September 27, 1875. These have been placed in the hands of receivers, baing the only ones 80 placed since the organization of the system in the state, and are given in the following table, showing their present condition and the progress made in the settlement of their affairs: TOOD