Saco Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: October 6, 1916
Location: Saco, Maine (43.501, -70.443)

Metadata

Model: gpt-5-mini
Short Digest: a1f553fa

Response Measures

None

Description

Article (Daily Kennebec Journal, 1916-10-06) states the Saco Savings Bank is 'defunct' and a receiver is making distributions to depositors (66 2/3% paid so far). No run is mentioned in the provided excerpt; the bank is in receivership and effectively closed.

Events (1)

1. October 6, 1916 Receivership

Newspaper Excerpt: It is now expected that the final distribution of the funds of the defunct Saco Savings Bank will be made before the end of the year. The 2800 depositors have already received 66 2-3 per cent of their money and the receivers...
Source: newspapers

Newspaper Articles (1)

1. October 6, 1916 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, October 6, 1916

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Article Text

It is now expected that the final distribution of the funds of the defunct Saco Savings Bank will be made before the end of the year. The 2800 depositors have already received 66 2-3 per cent of their money and the receivers, while unable to state that the returns will finally reach 100 per cent, do say that the final amount will be larger than was expected.