Citizens State Bank (Phoenix, AZ)

Episode Information

Episode UID
91000671567
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
9100067 routing
Routing Number
91-0006
Start Date
July 31, 1930
Location
Phoenix, Arizona (33.448, -112.074)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ee230c8aefc8a37f

Response Measures

None

Description

Bank was placed in hands of state bank examiner; no reopening mentioned.

Events (2)
1. July 31, 1930 Run
Cause Details
Persistent/excessive withdrawals of about $200,000 reported prior to closing.
Newspaper Excerpt
Excessive withdrawls, believed to total approximately $200,000, were blamed ... as the cause for the suspension this morning of the Citizens State Bank of Phoenix.
Source
newspapers
2. July 31, 1930 Suspension
Cause
Government Action
Cause Details
Placed in hands of state banking department/examiner after heavy withdrawals; suspended and taken over by state authorities.
Newspaper Excerpt
The bank ... was taken over by officers of the state banking department.
Source
newspapers

Newspaper Articles (4)
1. July 31, 1930 Imperial Valley Press El Centro, CA
Article from Imperial Valley Press, July 31, 1930

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Article Text

PHOENIX BANK CLOSES DOORS PHOENIX, Ariz., July 31. (U.P.) Excessive withdrawls, believed to total approximately $200,000, were blamed by State Superintendent of Banks James B. Button as the cause for the suspension this morning of the Citizens State Bank of Phoenix, The bank. with assets of $10,042, 000 and capitalization of $100,000, was taken over by officers of the state banking department. Button was unable to estimate the seriousness caused by the withdrawls until examiners inspect the books. Deposits of $823,000 were reported just before the bank closed, Button said. E. S. Wakelin and L. L. Stewart. both of Phoenix, are president and cashier, respectively, of the bank. The institution is one of the oldest in Arizona.

2. July 31, 1930 Riverside Daily Press Riverside, CA
Article from Riverside Daily Press, July 31, 1930

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Article Text

Withdrawals Blamed for Bank Suspension total $200,000. blamed by State Superintendent of Banks James Button the the suspension today Citizens State bank of PhoeThe bank, with assets officers state banking Button the caused the drawals until examiners inspect the books.

3. August 1, 1930 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, August 1, 1930

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Article Text

BIG NEGRO BANK CLOSED Bings State Had Frozen Assets and Shortage of Cash. July 31. Binga bank, one of the Negro in the with deposits of closed today by the state auditor at the request of directors cause frozen assets and age of Bank Closed. Pa., July 31. Citizens' National bank of the two remaining banks in closed today. of deposits was reported the Run Sinks Bank. PHOENIX July The Citizens State bank of Phoenix its doors today and was placed in the hands of the state bank examiner because of persistent withdrawal of Old Missouri House Goes. WESTON, July Brothers Banking second closed officers of The bank tablished

4. August 1, 1930 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, August 1, 1930

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Article Text

BIG NEGRO BANK CLOSED Bings State Had Frozen Assets and Shortage of Cash. CHICAGO. July 31. Bings State bank. one of the larg. banks in the country, deposits closed today by the state the request of its directors frozen assets and age of Bank Closed. Pa., July one two in closed today of deposits was reported the cause. Run Sinks Bank. July The Citizens' State bank of Phoenix closed its doors today and was placed in the hands of the state bank examiner because of persistent withdrawal of deposits. WESTON, July Banking second bank closed today. officers attribut. the business to The bank was tablished in 1865.