State Bank - Avon, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 27, 1931
Location: Avon, New York (42.912, -77.746)

Metadata

Model: gpt-5-mini
Short Digest: 1363eb54

Response Measures

None

Description

Article (Democrat and Chronicle, 1931-10-27) reports the State Superintendent of Banks taking possession because the State Bank of Avon failed to open. No run or depositor panic is described; action is government intervention and the bank appears closed/placed in custody.

Events (2)

1. October 27, 1931 Other

Newspaper Excerpt: Notice reading: Superintendent of Banks Joseph Broderick announces he has today taken possession the business and property of the State Bank of Avon. (reports bank failed to open at 9 o'clock).
Source: newspapers

2. October 27, 1931 Suspension

Cause: Government Action
Cause Details: Superintendent of Banks took possession after the bank failed to open its doors; regulatory closure by state authorities.
Newspaper Excerpt: Superintendent of Banks Joseph Broderick announces he has today taken possession the business and property of the State Bank of Avon.
Source: newspapers

Newspaper Articles (1)

1. October 27, 1931 Democrat and Chronicle Rochester, NY

Article from Democrat and Chronicle, October 27, 1931

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Article Text

Avon Bank Is Closed; State Takes Charge Avon. Oct. State Bank of Avon failed to open its doors 9 o'clock this morning. Depositors and other patrons greeted with notice reading "Superintendent of Banks Joseph Broderick announces he has today taken possession the business and property of the State Bank of Avon. report of the bank issued Sept. 30, showing its condition that date, listed resources amounting to $1,017,190.74 liabilities were: Capital stock. $50,000; plus, 115.12; bills payable, $15,000.