Colville Loan & Trust Company (Colville, WA)

Episode Information

Episode UID
98013071484
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
9801307 routing
Routing Number
98-0130
Start Date
August 1, 1923
Location
Colville, Washington (48.547, -117.906)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3b2bd4373ec7f880

Response Measures

None

Description

The bank failed to open after the president drowned; a state receiver was appointed later in August 1923.

Events (3)
1. August 1, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
President George W. Seal drowned shortly before Aug. 1; bank failed to open and state examiner began checking affairs.
Newspaper Excerpt
The bank at Colville failed to open for business August 1, after its president, George W. Seal, had been drowned while fishing a few days before.
Source
newspapers
2. August 21, 1923 Other
Newspaper Excerpt
Stevens Sets Colville Loan and Trust Assets at $420,547. ... The report of the state bank examiner on the insolvent Colville Loan & Trust company was filed today.
Source
newspapers
3. August 24, 1923 Receivership
Newspaper Excerpt
C. C. Richardson ... has been appointed receiver for the Colville Loan & Trust company, of Colville, effective August 24.
Source
newspapers

Newspaper Articles (2)
1. August 21, 1923 The Oregonian Portland, OR
Article from The Oregonian, August 21, 1923

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Article Text

Bank Receiver Appointed. OLYMPIA, Wash., Aug. 20.—(Special.)—C. C. Richardson, formerly president of the Bank of Spirit Lake, has been appointed receiver for the Colville Loan & Trust company, of Colville, effective August 24. The bank at Colville failed to open for business August 1, after its president, George W. Seal, had been drowned while fishing a few days before. Meantime an expert of the state department has been checking the bank's affairs.

2. August 24, 1923 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, August 24, 1923

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Article Text

REPORTS ON DEFUNCT BANK Stevens Sets Colville Loan and Trust Assets at $420,547. COLVILLE, Wash., Aug. 21.—The report of the state bank examiner on the insolvent Colville Loan & Trust company was filed today with the Stevens county clerk by Fred M. Stevens, acting for State Bank Supervisor John Duke. Assets of the company amount to $420,547, of which $37,000 is cash. Bonds and war certificates amount to $16,550, warrants $11,913 and loans $248,815. Land owned by the bank and loans on real estate make up the remainder. The capital stock of $25,000 is divided among 11 stockholders.