Closed for Business

The Story of Bankers Trust Company During the Great Depression

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The Rise and Fall of Bankers Trust Company

When Bankers Trust Company opened its doors in the late 1920s, the future looked bright indeed. Over a four-year period, the bank absorbed eight other institutions, grew from $2.5 million to $50 million in deposits, and had 21 offices around the city. However, its size could not protect it from failure. On December 22, 1930, after suffering through several months of heavy customer withdrawals, Bankers Trust Company voluntarily turned its affairs over to the Pennsylvania Department of Banking.