During the reorganization of Red River in the early 1930s, it was only a matter of time that bank issue once again would be scrutinized. On June 6, 1934, Clinton questioned how the bank operated: “As to the Westwood National Bank, I feel that this should be run as a bank and not as a subsidiary financial department of Red River. I think that the Bank board of directors should direct the policy and business of the bank and that the finance committee of the bank should pass on loans and these be on the merits of the loan and not from the standpoints of its convenience of Red River.”
Clinton’s concerns were confirmed when investigations were conducted on the bank’s affairs. It was disclosed that certain family members used the bank to obtain dubious loans, which would not have been approved by a regular bank. For instance, a loan was made to finance a portion of the construction of the Walker-Hovey railroad in Modoc County, which was being bailed out by the same time by the government’s Reconstruction Finance Corporation.
These events allowed Clinton to move forward on his case to dissolve the Westwood National Bank. Clinton cited it was an ill conceived venture as no one in the Walker family had any banking expertise. While it was agreed to dispose of the bank, that was easier said than done. After all bank failures were a common occurrence across the nation, so it was not the best time to put a bank on the market. It was even suggested they could sale it to the residents of Westwood. One of the obstacles to sale the bank was Willis, who also served as the bank’s president. After two years of stalling by Willis, it was decided to put Wellington Henderson (Clinton’s son-in-law) in charge. Wellington, it should be noted had banking experienced as he had worked for Bank of America. On September 18, 1936 Willis made the announcement that the Westwood National Bank reached an agreement with the Bank of America for the sale of the bank. Willis stated “This sale brings an affiliation for our local bank that will enable us to render an even greater service to the local community. Our bank will become a branch of the state-wide institution in the near future. The local officers and staff will remain.” While the bank building has long since been demolished, the concrete vault still remains, a testament to better times.