924. Bank of Shasta County (Redding, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 25, 1911
Location
Redding, California (40.587, -122.392)

Metadata

Model
gpt-5-mini
Short Digest
46baedbd

Response Measures

None

Description

The Bank of Shasta County voluntarily closed its doors on March 25, 1911, with the state bank examiner in charge; president cited large loans that do not look as good (bank-specific adverse info). A related institution (First Savings Bank of Shasta County) experienced a run and was later closed by the state superintendent as a consequence of the Bank of Shasta County suspension. No reopening is reported in the articles.

Events (3)
1. March 25, 1911 Run
Cause
Local Banks
Cause Details
Heavy withdrawals at First Savings Bank triggered by the suspension/closing of the Bank of Shasta County.
Measures
Stopped payment at noon
Newspaper Excerpt
The First Savings bank of Shasta county ... stopped payment at noon because of a heavy run of depositors.
Source
newspapers
2. March 25, 1911 Suspension
Cause
Bank Specific Adverse Info
Cause Details
President noted some big loans do not look as good as when we made them, indicating loan losses/poor quality assets led to suspension.
Newspaper Excerpt
The Bank of Shasta county closed its doors today and State Bank Examiner Dobbs is in charge. The suspension was voluntary and President C. C. Bush expressed confidence that with a little time the bank would be able to meet its liabilities. Some big loans do not look as good as when we made them.
Source
newspapers
3. March 27, 1911 Suspension
Cause
Local Banks
Cause Details
Closed by state superintendent as a result of the earlier suspension of the Bank of Shasta County.
Newspaper Excerpt
The First Savings bank of Shasta county was closed late yesterday by order of W. R. Williams, state superintendent of banks. ... Today's action results from the suspension of the Bank of Shasta county last Saturday.
Source
newspapers

Newspaper Articles (2)
1. March 26, 1911 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, March 26, 1911

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Article Text

SHASTA COUNTY, CAL., BANKS CLOSE DOORS Big Loans Do Not Look Good, According to President of One Concern. By Associated Press. REDDING. Cal., March 25.-The Bank of Shasta county closed its doors today and State Bank Examiner Dobbs is in charge. The suspension was voluntary and President C. C. Bush expressed confidence that with a little time the bank would be able to meet its liabilities. which are shown by the last statement to be $1,061,304. "Some big loans do not look as good as when we made them." said Mr. Bush. The First Savings bank of Shasta county a collateral institution, stopped payment at noon because of a heavy run of depositors. The state bank examiner

2. March 28, 1911 El Paso Herald El Paso, TX
Article from El Paso Herald, March 28, 1911

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Article Text

Redding, Cal., March 28.-The First Savings bank of Shasta county was closed late yesterday by order of W. R. Williams, state superintendent of banks. The bank had $267,000 in deposite in December. Today's action results from the suspension of the Bank of Shasta county last Saturday. Dr. Cameron, Dentist, over WalkOver shoe store. Reliable dentistry. E. W. Bryan-Dentist, all work guaranteed, 107 S. El Paso, Mundy Bldg. Dr. Deady. Am. Natl. Bank Bldg.