Arizona Southwest Bank (Tucson, AZ)

Episode Information

Episode UID
91014671578
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
9101467 routing
Routing Number
91-0146
Start Date
June 20, 1931
Location
Tucson, Arizona (32.222, -110.926)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cb0f0cc4b080c7da

Response Measures

None

Description

Articles report a small run then the bank's insolvency, formal closure and liquidation under a receiver.

Events (3)
1. June 20, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Deposits fell off amid the bank's insolvency and distress of the institution, producing small withdrawals.
Measures
No special measures reported beyond clearing house and examiner involvement.
Newspaper Excerpt
Surprise was expressed at the report in Tucson to the effect that there had been a slight run on the bank here Saturday morning.
Source
newspapers
2. June 22, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank became insolvent and closed its doors; state officials and examiner took over affairs for liquidation.
Newspaper Excerpt
the institution closed its doors in Casa Grande, Coolidge, Tucson and Douglas last month.
Source
newspapers
3. September 20, 1931 Receivership
Newspaper Excerpt
James B. Button, receiver, petitioned superior court... Holding that the defunct Arizona Southwest bank should not have to pay the county treasurer taxes, James B. Button, receiver, petitioned superior court here for advice on the matter.
Source
newspapers

Newspaper Articles (5)
1. June 26, 1931 Casa Grande Dispatch Casa Grande, AZ
Article from Casa Grande Dispatch, June 26, 1931

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Article Text

FALL OFF OF DEPOSITS HASTENED END (Continued from Page 1) ing House association, realizing the hardship that this will cause a number of citizens of Tucson, and especially those who are depositors, stand ready and are willing to render all possible aid and assistance consistent with proper banking principles. "TUCSON CLEARING HOUSE "P. M. CLARKE, President; "A. J. McKELVEY, Secretary.' In the ordinary course of business the state officials will close up the affairs of the bank, none of them however will forcast either the time this will take, or the probable amount depositors will realize. Creditors Meeting A meeting of the creditors of the Arizona Southwest Bank at the city hall Wednesday evening disclosed on the part of depositors a confidence that the process of liquidation would find the local branch of the bank in good condition, and that a large percentage of the depositors would be eventaally distributed. During the meeting it was brought out by those informed concerning the causes behind the closing of the bank that no part of the cause for such action was found in the Casa Grande branch. Surprise was expressed at the report in Tucson to the effect that there had been a slight run on the bank here Saturday morning. Sawtelle To Be Here The creditors were also told that James M. Sawtelle, manager of the local branch, intends to remain in this vicinity at his own expense this summer for the purpose of rendering aid to those who were depending upon financing from the local institution, and will give his services without pay in helping them get financed through other banks.

2. July 17, 1931 Casa Grande Dispatch Casa Grande, AZ
Article from Casa Grande Dispatch, July 17, 1931

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Article Text

CASA GRANDE BANK SOUND (Continued from page 1) ure of the Coolidge branch of the Arizona Southwest bank will be handled from the offices of the Casa Grande branch according to information received from J. E. McCullough, bank examiner in charge of the local branch since the institution closed its doors in Casa Grande, Coolidge, Tueson and Douglas last month. Notice has been posted on the door of the Coolidge branch and published in a Coolidge paper to the effect that all valuables in safety deposit boxes there must be removed by owners before August 1. Until that date the doors of the bank will be open from 9 to 12 each morning except Saturday. The building occupied by the Coolidge branch is leased, and will be vacated of all fixtures SO that the expense of rental may be stopped. The building in Casa Grande is the property of the bank.

3. September 20, 1931 Arizona Daily Star Tucson, AZ
Article from Arizona Daily Star, September 20, 1931

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Article Text

BANK RECEIVER SEEKING RELIEF Defunct Organization Should Not Be Included for Tax Purposes, Averred Holding that the defunct Artzona Southwest bank should not have pay the county treasurer taxes, James B. Button, receiver, petitioned superior court here for advice the matter. Judge Fred W. Fickett Saturday issued order to show cause against Wallace Bransford, county treasurer, citing to appear in superior court next Saturday morning and show cause why the rolls of the county should not be corrected. In the petition prepared for Button. who as state of banks receiver for the defunct bank, prepared by his attorney. John W. Ross, the claims the receiver are set forth. Under the banks Arizona must set forth their holdings to the county assessor between the first Monday in January and the 20th or May in each year. The Arizona Southwest bank, then going con. ern. did so, the petition states. Upon June the bank became insolvent and closed its doors. The amount assessed this year the bank totals $1,915.26. One-half of this is due now and becomes delinquent November and the last half year's taxes become delinquent the first Monday May, 1932. The petitioner, through his attorney, asks of the court ruling as to whether the receiver should pay these taxes from the funds of the insolvent bank are these tax monies liens upon the stockholders. The brief accompanying the petitions states one place, would require the creditors of the bank, from whom the receiver trustee, to pay debt of the stock. holders the bank. must ways be borne in mind that this tax provided by paragraph 3069 our code is not tax against the bank, but tax against the Indi-

4. May 7, 1932 Nogales International Nogales, AZ
Article from Nogales International, May 7, 1932

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Article Text

Bank Receiver To Return Next Week J. W. Entz, receiver of the Sonora Bank & Trust Company, will return next week from Phoenix where he is attending court. During his absence from Nogales his duties here are being looked after by C. Cox, special deputy superintendent of banks, who is handling the liquidation of the Arizona Southwest Bank in Tucson and the Cochise County State Bank at Tombstone and Benson. The Arizona Southwest Bank of Tucson, with branches at Casa Grande, Coolidge and Douglas, closed its doors on June 22 and already has paid 37 1/2 percent in dividends to depositors.

5. May 7, 1932 Nogales International Nogales, AZ
Article from Nogales International, May 7, 1932

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Article Text

Bank Receiver To Return Next Week J. W. Entz, receiver of the Sonora Bank & Trust Company, will return next week from Phoenix where he is attending court. During his absence from Nogales his duties here are being looked after by C. Cox, special deputy superintendent of banks, who is handling the liquidation of the Arizona Southwest Bank in Tucton and the Cochise County State Bank at Tombstone and Benson. The Arizona Southwest Bank of Tucson, with branches at Casa Grande, Coolidge and Douglas, closed its doors on June 22 and already has paid 37½ percent in dividends to depositors.