Danbury National Bank

Episode Information

Episode UID: 94301599
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9430 national
Charter Number: 943
Start Date: March 1, 1933*
Location: Danbury, Connecticut (41.395, -73.454)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 728ac3a3c11c51c3

Response Measures

None

Description

Federal conservator was named and the bank was reorganized after the 1933 banking moratorium; embezzlement conviction of the cashier is noted.

Events (4)

1. March 28, 1865 Chartered

Source: historical_nic

2. March 1, 1933* Receivership

Newspaper Excerpt: A federal conservator was named, and reorganization followed.
Source: newspapers

3. March 10, 1933 Suspension

Cause: Government Action
Cause Details: Did not reopen immediately after the March 1933 federal banking moratorium/holiday was lifted; government conservator involved.
Newspaper Excerpt: The Danbury National was one of the few in the state which did not open immediately after the banking moratorium was lifted.
Source: newspapers

4. June 28, 1933 Other

Newspaper Excerpt: Fred C. Brown, former town treasurer and cashier of the Danbury National Bank, pleaded guilty to embezzlement; he and John McCarthy were arrested last spring after the bank was reorganised.
Source: newspapers

Newspaper Articles (1)

1. June 28, 1933 The Waterbury Democrat Waterbury, CT

Article from The Waterbury Democrat, June 28, 1933

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Article Text

DANBURY BANK CASHIER MADE PLEA OF GUILTY Hartford, Conn, June 28-(UP) -Fred C. Brown. former town treasurer and cashier of the Danbury National Bank, today was under a suspended sentence of a year and a day in Lewisburg, Pa., prison, following his plea of guiltv to a charge of embezzlement. He also was ordered to pay a fine of $500 and was placed on probation for two years. Brown entered his plea in federal court here after a true bill was returned against him. He and John McCarthy. former president of the bank. were arrested last spring after the bank was reorganised. The Danbury National was one of the few in the state which Cid not open immediately after the banking moratorium was lifted. A federal conservator was named, and reorganization followed. Brown was charged with embezzlement on two counts. On one he allegedly misrepresented funds amounting to $216,000. The other covered an alleged illegal entry on the books in eference to the $216,000.