Bank of American Fork (American Fork, UT)

Episode Information

Episode Type
Suspension → Closure
Start Date
April 8, 1935
Location
American Fork, Utah (40.377, -111.796)
Bank Type
state

Metadata

Episode ID
Bank ID
City ID
491438194
Model
gpt-5-mini
Short Digest

Notes

No article describes a depositor run; bank is in liquidation with a receiver and deposit claim bidding underway.

Events (3)
1. April 8, 1935 Receivership
Newspaper Excerpt
Liquidation report of the Bank of American Fork ... was granted Saturday by Judge M. M. Larson in the Fourth district court.
Source
newspapers
2. July 31, 1935 Other
Newspaper Excerpt
Bidding on deposit claims for real estate held by the closed Bank of American Fork was discussed by members of the state banking commission and 10 depositors Monday in Salt Lake City.
Source
newspapers
3. * Suspension
Cause
Government Action
Cause Details
Bank closed and placed in liquidation/receivership by state banking authorities; Bank Commissioner involved
Newspaper Excerpt
closed Bank of American Fork
Source
newspapers

Newspaper Articles (2)
1. April 8, 1935 The Daily Herald Provo, UT

Article Text

Bank Receiver's Report Approved

Liquidation report of the Bank of American Fork from November 1 to February 1, during which $3,388.27 was the liquidation expense, was granted Saturday by Judge M. M. Larson in the Fourth district court.

Judge Larson likewise granted the petition of Bank Commissioner J. A. Malia to accept $1600 in bonds of the Federal Land Bank of Berkeley in full settlement of debts totalling $1862.83, owed by James H. Beck and Mary J. Beck to the bank. To secure their notes they had pledged 15 shares of primary and seven shares of secondary stock in the Alpine Irrigation company.

To secure a new loan on their real property it was necessary that the water stock certificates be surrendered to the Federal Land bank; hence the compromise settlement.

Resources and liabilities of the bank on November 1 were $742,004.13; on February 1 they amounted to $718,039.54.

2. July 31, 1935 The Salt Lake Tribune Salt Lake City, UT

Article Text

Bank Real Estate Bidding Discussed

American Fork Envoys, State Group Study Funding Plan

Bidding on deposit claims for real estate held by the closed Bank of American Fork was discussed by members of the state banking commission and 10 depositors Monday in Salt Lake City.

Immediate action on the plan is not expected, according to Warren Anderson, chairman of the depositors' committee, who headed the delegation.

An apartment house in Salt Lake City, a bank building at Midvale, residences in Salt Lake City, American Fork and Alpine, and farming land and building lots would be involved in the bidding, should it be approved.