Peoples Savings Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: May 8, 1911
Location: Birmingham, Alabama (33.521, -86.802)

Metadata

Model: gpt-5-mini
Short Digest: f7c0fa1f

Response Measures

None

Description

Article (May 8, 1911) reports the Peoples Savings Bank and Trust Company did not open because it was sold and its books and records were being transferred to the American Trust and Savings Bank. No run is mentioned; the suspension is due to a sale/transfer (voluntary liquidation/merger) and appears permanent.

Events (1)

1. May 8, 1911 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank was sold to the American Trust and Savings Bank and its books/records were being transferred, prompting it not to open for business (sale/transfer/merger).
Newspaper Excerpt: After 23 useful years in the financial history of Birmingham, the Peoples Savings Bank and Trust company will not open its doors this morning for business. The sale of that institution to the American Trust and Savings bank ... The books, account and all records of the Peoples bank will have been transferred to the American Trust
Source: newspapers

Newspaper Articles (1)

1. May 8, 1911 The Birmingham Age-Herald Birmingham, AL

Article from The Birmingham Age-Herald, May 8, 1911

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Article Text

PRESIDENT GRAY PLANS TO TAKE REST AND ENJOY TRAVELING, BUT WILL STILL BE ACTIVE IN LOCAL AFFAIRS After 23 useful years in the financial history of Birmingham, the Peoples Savings Bank and Trust company will not open its doors this morning for business. The sale of that institution to the American Trust and Savings bank, of which Webb W. Crawford is president, as announed by Mr. Crawford and Henry B. Gray yesterday morning, created great interest in Birmingham. The sale, the swift growth of the purchasing institution, the effect it would have on financial matters of Birmingham, the personal tasks to be taken up by President Gray, and other topics were the questions running riot throughout Birmingham yesterday. The books, account and all records of the Peoples bank will have been transferred to the American Trust by banking