Bank of Zapata - Zapata, TX

Episode Information

Episode UID: 88207371939
Episode Type: Suspension → Closure
Bank Type: private
Bank ID: 8820737 routing
Routing Number: 88-2073
Start Date: July 20, 1961
Location: Zapata, Texas (26.907, -99.271)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 85b1386b2640e5fd

Response Measures

None

Description

Bank president disappeared prompting receivership and investigation.

Events (2)

1. July 20, 1961 Receivership

Newspaper Excerpt: The Bank of Zapata ... was placed in receivership yesterday. Laredo attorney George Byfield was named receiver by A&P District Judge E. James Kazen.
Source: newspapers

2. July 20, 1961 Suspension

Cause: Government Action
Cause Details: Placed in receivership by a district judge after president vanished and bank closed for audit amid investigation.
Newspaper Excerpt: The bank has been shut for three days ... The bank did not open Tuesday. A card in the door explained it was closed for an audit.
Source: newspapers

Newspaper Articles (1)

1. July 21, 1961 Evening Star Washington, DC

Article from Evening Star, July 21, 1961

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Article Text

County's One Bank Shut As President Vanishes ZAPATA, Tex., July 21 (AP) ing the State supervision of a private bank. Funds are not inThe Bank of Zapata, one of sured, apparently, and deposithe few private banks in the tors had no assurance they will Nation and the only bank in obtain their money. this county, was placed in reIn yesterday's receivership hearing Sheriff E. M. Hein, also ceivership yesterday. president of the school board, The bank has been shut for said the school has $150,000 three days, but no one knows deposited in the bank. why. County Commissioner Delfino Bank President Manuel Medina has disappeared. Officials are unable to locate his wife and their son, 23, or daughter, 18. The bank did not open Tuesday. A card in the door explained it was closed for an audit. A grand jury began an investigation. Laredo attorney George Byfield was named receiver by A&P District Judge E. James Kazen. Residents in this county of 4,300 population were forced to carry on business with what cash they had in their pockets and tills. The bank was established in 1912. The initial capitalization was $12,500, but there was no information as to the amount of its present capital, deposits RE or number of depositors. NONE A State Banking Commission official, who declined use of his name, said there is no law givPan Re