Fairoaks Bank - Fairoaks, CA

Episode Information

Episode UID: 90059071623
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 9005907 routing
Routing Number: 90-0590
Start Date: March 28, 1935
Location: Fairoaks, California (35.119, -120.602)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 31c3e3b2f5348208

Response Measures

None

Description

Article names the bank as Fair Oaks (two-word); provided bank name is Fairoaks.

Events (2)

1. March 28, 1935 Other

Newspaper Excerpt: An eight per cent dividend this week from the savings department of the bank; one hundred and fifty checks represented in the dividend payment.
Source: newspapers

2. March 28, 1935 Receivership

Newspaper Excerpt: Announcement was made today by G. H. Williams, receiver in charge of the defunct Fair Oaks bank of an eight per cent dividend...
Source: newspapers

Newspaper Articles (1)

1. March 28, 1935 Tribune-Progress North Sacramento, CA

Article Text

BANK TO PAY 8 PER CENT DIVIDEND Announcement was made today by G. H. Williams, receiver in charge of the defunct Fair Oaks bank of an eight per cent dividend this week from the savings department of the bank. This dividend, which will make a total of 20 cents paid by the savings side, comes as the result of a recent supreme court decision which permits commercial departments to transfer surplus funds to the savings, after liquidation has been completed. There are one hundred and fifty checks represented in the dividend payment, the amounts varying from a few cents to five hundred dollars. The savings department, according to Williams, is slow in closing, because the assets are represented in real estate. The funds were loaned on local properties, and he intimates at excessive appraisements. The receiver states that he has many inquiries for real estate in this section, but refuses to sell at what he terms "rediculous" prices offered. When the next dividend would be made, Williams could not state. Bank receivers are required to pay off when a five per cent surplus has accrued.